Spot Bitcoin ETFs See $223M Net Outflows On Monday
Portfolio Pulse from Murtuza Merchant
Spot Bitcoin ETFs experienced a net outflow of $223 million on Monday, with Grayscale's Bitcoin Investment Trust (GBTC) seeing a $303 million outflow. However, Bitwise ETF (BITB) and BlackRock's iShares Bitcoin Trust (IBIT) recorded inflows. Additionally, Defiance Investments filed with the SEC to launch a 2x leveraged Ethereum futures ETF, indicating a growing complexity in cryptocurrency investment options. The SEC delayed decisions on Bitcoin ETF applications from Bitwise and Grayscale until May 29.
April 09, 2024 | 12:04 pm
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POSITIVE IMPACT
Bitwise ETF led the inflows for spot Bitcoin ETFs, bringing in approximately $40.33 million.
The inflow into BITB indicates continued investor interest in specific Bitcoin spot ETFs, potentially leading to a positive short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BlackRock's iShares Bitcoin Trust recorded a net inflow of $21.27 million.
The positive inflow into IBIT suggests a favorable investor sentiment towards this Bitcoin spot ETF, likely benefiting its short-term stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Grayscale's Bitcoin Investment Trust experienced a significant outflow of $303 million on Monday.
The substantial outflow from GBTC suggests a decrease in investor interest or a shift in investment strategy, likely leading to a negative short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90