Bitcoin ETF Launch Shatters Records, Attracts Over $4 Billion: 'Biggest Day One Splash In ETF History,' Analyst Says
Portfolio Pulse from Piero Cingari
Bitcoin ETFs made a historic debut with over $4 billion in inflows on their first trading day. Blackrock's iShares Bitcoin Trust ETF (IBIT) led with $1 billion, while Grayscale's Bitcoin Trust (GBTC) topped with $2 billion after converting to a spot Bitcoin ETF. Fidelity's Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) also saw significant inflows. Other funds like Valkyrie, WisdomTree, and Hashdex had inflows below $10 million. Bitcoin was trading at $46,279 with a market cap of $900 billion.
January 11, 2024 | 11:12 pm
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POSITIVE IMPACT
Cathie Wood's ARK 21Shares Bitcoin ETF (ARKB) attracted $275 million in inflows, indicating investor interest in the fund.
ARKB's notable inflows on its debut could lead to a positive short-term price impact due to investor enthusiasm.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fidelity's Wise Origin Bitcoin Fund (FBTC) ranked third with $673 million in inflows on its first trading day.
FBTC's substantial inflows on its first day suggest positive investor sentiment, which could positively influence its short-term price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Grayscale's Bitcoin Trust (GBTC) converted to a spot Bitcoin ETF and saw over $2 billion in inflows, becoming the largest Bitcoin ETF globally.
GBTC's successful conversion to a spot Bitcoin ETF and its substantial inflows suggest a bullish short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Blackrock's iShares Bitcoin Trust ETF (IBIT) attracted over $1 billion on its first day, leading the newly launched Bitcoin ETFs.
The significant inflow into IBIT on its first day indicates strong investor interest, which could lead to a positive short-term price impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
The Valkyrie Bitcoin Fund (BRRR) saw less than $10 million in inflows, indicating a lukewarm reception among investors.
BRRR's low inflows compared to other Bitcoin ETFs may not significantly impact its short-term price, reflecting neutral investor sentiment.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
WisdomTree Bitcoin Fund (BTCW) also recorded below $10 million in inflows, showing limited initial investor interest.
BTCW's relatively small inflows on its first day may lead to a neutral short-term price impact due to moderate investor interest.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Hashdex Bitcoin Futures ETF (DEFI) had inflows below $10 million, reflecting a cautious investor approach.
DEFI's low inflows on its first day suggest a neutral short-term price impact, as investor interest appears to be cautious.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50