Spot Bitcoin And Ethereum ETFs Put Asset Managers In An 'Arms Race,' Traders Say
Portfolio Pulse from Khyathi Dalal
Spot Bitcoin and Ethereum ETFs are expected to drive the next phase of the bull cycle. Spot Bitcoin ETFs have seen significant inflows, while Grayscale Bitcoin Trust has experienced outflows. Spot Ethereum ETFs are anticipated to be approved soon, with substantial inflows predicted.
July 02, 2024 | 7:58 pm
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POSITIVE IMPACT
iShares Bitcoin Trust has seen a cumulative net inflow of $17.7 billion, reflecting strong investor interest in this ETF.
The substantial inflow into IBIT indicates strong investor confidence, which is likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Grayscale Bitcoin Trust has recorded a cumulative net outflow of $18.5 billion, indicating a shift in investor preference towards other Bitcoin ETFs.
The significant outflow from GBTC suggests that investors are moving their funds to other Bitcoin ETFs, which could negatively impact GBTC's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80