Bitcoin Spot ETFs On 15-Day Inflow Streak As Wisconsin Starts Buying Bitcoin
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs have seen a 15-day streak of net inflows, with significant contributions from Grayscale, Fidelity, and Bitwise ETFs. The Wisconsin State Investment Board has added BlackRock's iShares Bitcoin Trust and Grayscale's ETF to its portfolio, indicating growing institutional interest in cryptocurrency investments.
June 04, 2024 | 10:02 am
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POSITIVE IMPACT
Bitwise ETF attracted $14.3145 million in inflows, reflecting growing institutional interest in Bitcoin investments.
The inflow into the Bitwise ETF is a positive indicator of institutional interest, likely leading to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Fidelity ETF saw an inflow of $77.0482 million, contributing significantly to the overall net inflows of Bitcoin spot ETFs.
The substantial inflow into the Fidelity ETF indicates strong institutional interest, likely boosting its short-term price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Grayscale ETF maintained its position with no net outflow, indicating stability and continued investor interest.
The Grayscale ETF's stability amidst a 15-day inflow streak suggests strong investor confidence, likely leading to positive short-term price movement.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BlackRock's iShares Bitcoin Trust was added to the Wisconsin State Investment Board's portfolio, indicating institutional adoption of Bitcoin ETFs.
The addition of BlackRock's iShares Bitcoin Trust to a major institutional portfolio suggests growing acceptance and potential short-term price appreciation.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50