Bitcoin Excels During US Trading Hours, But ETF Inflows Yet To Catch Up: Total Assets In Funds Fall 9% In Past 4 Weeks
Portfolio Pulse from Aniket Verma
Bitcoin has shown stronger performance during U.S. trading sessions over the past month, but this has not yet translated into significant inflows into Bitcoin ETFs. Total assets in these funds have fallen by 9% in the past four weeks. iShares Bitcoin Trust (NASDAQ:IBIT) and Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) saw some inflows recently.
August 14, 2024 | 9:28 am
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POSITIVE IMPACT
Fidelity Wise Origin Bitcoin Fund recorded a $22.56 million inflow on Aug. 13, amidst a broader decline in Bitcoin ETF assets.
The $22.56 million inflow into FBTC suggests some investor confidence, which could positively impact its short-term price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
iShares Bitcoin Trust saw a $34.55 million inflow on Aug. 13, despite a general decline in total assets in Bitcoin ETFs over the past four weeks.
The inflow of $34.55 million into IBIT indicates a positive sentiment among investors, which could lead to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80