Bitcoin ETF Adoption By Investment Advisors 'Faster Than Any Other ETF in History' Counters Bitwise CIO In Response To Macro Analyst's Skepticism
Portfolio Pulse from Aniket Verma
Matt Hougan, CIO at Bitwise Asset Management, argues that investment advisors are adopting Bitcoin ETFs faster than any other ETF in history, countering skepticism from macro analyst Jim Bianco. The iShares Bitcoin Trust ETF (IBIT) has seen $1.45 billion in net inflows, making it the second highest among over 300 ETFs launched this year. Bitwise's own Bitcoin ETF (BITB) has attracted $1.93 billion in net inflows.
September 10, 2024 | 3:56 am
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POSITIVE IMPACT
Bitwise Bitcoin ETF (BITB) has attracted $1.93 billion in net inflows since launch, closing 2.01% higher at $31.15 during Monday’s trading session.
BITB's substantial inflows and recent price increase suggest strong investor interest and potential for continued positive performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
The iShares Bitcoin Trust ETF (IBIT) has attracted $1.45 billion in net inflows from investment advisors, making it the second highest among over 300 ETFs launched this year.
The significant inflows into IBIT indicate strong adoption by investment advisors, suggesting positive sentiment and potential upward price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90