BlackRock's Bitcoin ETF Up 50% Since Launch: Indicators Point To Continued BTC Bull Run
Portfolio Pulse from Surbhi Jain
BlackRock's iShares Bitcoin Trust (IBIT) ETF has surged 50% since its launch in January 2024, amassing $20 billion in AUM. Kerrisdale Capital is long on IBIT and short on Riot Platforms (RIOT). Technical indicators suggest continued bullish momentum for IBIT.
June 05, 2024 | 6:58 pm
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POSITIVE IMPACT
The iShares Bitcoin Trust (IBIT) ETF has surged 50% since its launch in January 2024, amassing $20 billion in AUM. Technical indicators suggest continued bullish momentum.
IBIT has shown strong performance since its launch, with significant AUM and positive technical indicators such as MACD, RSI, and moving averages. This suggests continued bullish momentum.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Kerrisdale Capital prefers IBIT and Fidelity's FBTC over MicroStrategy (MSTR) for Bitcoin exposure, citing lower fees.
Kerrisdale Capital's preference for IBIT and FBTC over MSTR due to lower fees could lead to a negative sentiment for MSTR among investors seeking Bitcoin exposure.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Kerrisdale Capital has disclosed a short position in Riot Platforms (RIOT), citing unpredictable revenue, high capital requirements, and fierce competition.
Kerrisdale Capital's short position and negative outlook on RIOT due to its unpredictable revenue and high capital requirements could lead to downward pressure on the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80