Bitcoin ETFs Extend Inflow Streak To 6 Days Ahead Of Fed Speech: Here's What Powell Needs To Say To 'Fuel Strong Bullish Momentum'
Portfolio Pulse from Murtuza Merchant
Bitcoin ETFs have seen six consecutive days of inflows, while Ethereum ETFs face outflows, ahead of a key speech by Fed Chair Jerome Powell. BlackRock and Fidelity's Bitcoin ETFs are performing well, while Grayscale's Bitcoin and Ethereum ETFs are experiencing outflows. The market anticipates potential impacts from Powell's speech on crypto investments.
August 23, 2024 | 12:29 pm
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POSITIVE IMPACT
Fidelity's Bitcoin ETF also experienced positive inflows, reflecting growing investor interest in Bitcoin ETFs.
Fidelity's Bitcoin ETF saw an inflow of $9.23 million, indicating positive investor sentiment towards Bitcoin ETFs. This could lead to a short-term positive impact on its price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BlackRock's Bitcoin ETF has attracted significant inflows, indicating strong investor interest and confidence in Bitcoin as a regulated investment vehicle.
BlackRock's Bitcoin ETF has attracted $75.49 million in new investments, making it a standout performer among Bitcoin ETFs. This suggests strong investor confidence and interest in Bitcoin as a regulated investment vehicle, likely leading to a positive short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Fidelity's Ethereum ETF saw inflows, partially offsetting the overall negative flow for Ethereum-based products.
Fidelity's Ethereum ETF saw an inflow of $14.33 million, partially offsetting the overall negative flow for Ethereum-based products. This suggests a neutral short-term impact on its price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Grayscale's Ethereum ETF led the outflows among Ethereum products, indicating a shift in investor sentiment away from Ethereum.
Grayscale's Ethereum ETF led the outflows with $19.84 million exiting the fund, indicating a shift in investor sentiment away from Ethereum. This could lead to a short-term negative impact on its price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Grayscale's Bitcoin ETF experienced outflows, indicating that not all Bitcoin products are benefiting from the positive sentiment.
Grayscale's Bitcoin ETF experienced an outflow of $28.36 million, suggesting that not all Bitcoin products are benefiting from the positive sentiment. This could lead to a short-term negative impact on its price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75