Bitcoin ETF Flows Flip to Positive After Two Weeks, Bitwise CIO Flashes Massive Adoption
The post Bitcoin ETF Flows Flip to Positive After Two Weeks, Bitwise CIO Flashes Massive Adoption appeared on BitcoinEthereumNews.com. The inflows into spot Bitcoin ETFs have finally turned out to be positive after two strong weeks of outflows of over $1.2 billion. This development happened with the Bitcoin price gaining the lost ground and surging over 4.40% all the way to $57,100 as of press time. Bitcoin has rebounded firmly following the weekend crash to $54,000 showing a shift in the market sentiment. Amid the recent market criticism for the ETFs, Bitwise CIO Matt Hougan has come out in defense stating that investment advisers continue to have an interest in them. Bitcoin ETF Inflows Resume Amid Shift In Market Sentiment As per the Farside Investors data, the total inflows into spot Bitcoin ETFs on Monday stood at $28.6 million, with Fidelity’s FBTC seeing $28.6 million in inflows and Bitwise’s BITB recording $22.0 billion in inflows. On the other hand, Grayscale’s GBTC recorded $22.8 million in outflows, while BlackRock’s IBIT saw $9.1 million in outflows. Yesterday’s inflows provide huge relief after a sea of outflows in the last two weeks. Some in the crypto industry also started saying that the BTC ETFs have started losing ground amid the drop in the Bitcoin market sentiment. Top industry players have come out in support of Bitcoin ETFs. Bloomberg analyst Eric Balchunas stated that he continues to be bullish on the BTC ETFs adding that the $1.2 billion outflows are small in comparison to the $46 billion AUM of the ETFs. He said that this is part of the game and the outflows are not sizeable to the extent to warrant a major concern. Bitwise CIO Disputes Claims of Dropping Adoption Rates Jim Bianco of Bianco Research shared his opinion last week that Bitcoin ETFs are losing ground among investment wealth advisers and that their adoption is very “small”, thereby downplaying the investment…
The post Bitcoin ETF Flows Flip to Positive After Two Weeks, Bitwise CIO Flashes Massive Adoption appeared on BitcoinEthereumNews.com.
The inflows into spot Bitcoin ETFs have finally turned out to be positive after two strong weeks of outflows of over $1.2 billion. This development happened with the Bitcoin price gaining the lost ground and surging over 4.40% all the way to $57,100 as of press time. Bitcoin has rebounded firmly following the weekend crash to $54,000 showing a shift in the market sentiment. Amid the recent market criticism for the ETFs, Bitwise CIO Matt Hougan has come out in defense stating that investment advisers continue to have an interest in them. Bitcoin ETF Inflows Resume Amid Shift In Market Sentiment As per the Farside Investors data, the total inflows into spot Bitcoin ETFs on Monday stood at $28.6 million, with Fidelity’s FBTC seeing $28.6 million in inflows and Bitwise’s BITB recording $22.0 billion in inflows. On the other hand, Grayscale’s GBTC recorded $22.8 million in outflows, while BlackRock’s IBIT saw $9.1 million in outflows. Yesterday’s inflows provide huge relief after a sea of outflows in the last two weeks. Some in the crypto industry also started saying that the BTC ETFs have started losing ground amid the drop in the Bitcoin market sentiment. Top industry players have come out in support of Bitcoin ETFs. Bloomberg analyst Eric Balchunas stated that he continues to be bullish on the BTC ETFs adding that the $1.2 billion outflows are small in comparison to the $46 billion AUM of the ETFs. He said that this is part of the game and the outflows are not sizeable to the extent to warrant a major concern. Bitwise CIO Disputes Claims of Dropping Adoption Rates Jim Bianco of Bianco Research shared his opinion last week that Bitcoin ETFs are losing ground among investment wealth advisers and that their adoption is very “small”, thereby downplaying the investment…
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