Bitcoin Spot ETFs Reach Record $14.9B Year-To-Date Inflows On Tuesday
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs have seen record inflows of $14.9 billion year-to-date, with a notable shift in investor preference towards newer ETFs like BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund. Grayscale's Bitcoin Trust experienced significant outflows.
May 29, 2024 | 11:17 am
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POSITIVE IMPACT
Fidelity's Wise Origin Bitcoin Fund saw an inflow of $34.3451 million, indicating growing investor interest.
The inflow into Fidelity's Wise Origin Bitcoin Fund suggests increasing investor interest, likely leading to positive short-term price movement for FBTC.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BlackRock's iShares Bitcoin Trust recorded an inflow of $103 million, reflecting strong investor interest.
The substantial inflow into BlackRock's iShares Bitcoin Trust indicates growing investor confidence, likely leading to positive short-term price movement for IBIT.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Grayscale's Bitcoin Trust saw an outflow of $105 million, indicating a shift in investor preference towards newer Bitcoin ETFs.
The significant outflow from Grayscale's Bitcoin Trust suggests a loss of investor confidence and preference for newer Bitcoin ETFs, likely leading to short-term price pressure on GBTC.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90