On Tuesday, April 23rd, the demand for Bitcoin ETFs grew significantly as reported by Farside UK, with a net inflow of approximately $31.6 million. Notable industry titans, such as BlackRock’s iShares Bitcoin Trust (IBIT) and Ark 21Shares Bitcoin ETF (ARKB), spearheaded this surge. Contrarily, Grayscale’s GBTC Bitcoin ETF experienced greater outflows on the same day.
Spot Bitcoin ETF Record Positive Flows For Second Consecutive Day
Blackrock’s IBIT fund attracted $37.9 million in new investments recently. Simultaneously, the ARKB Bitcoin ETF saw a net investment of $33.3 million. Additionally, BITB, the Bitwise Bitcoin ETF, reported inflows totaling $23.2 million, indicating continued demand from investors for crypto exposure via regulated channels.
Despite a difficult day for the Fidelity Wise Bitcoin EtF (FBTC), it saw relatively small inflows of just $4.4 million. This suggests a brief halt in growth for the fund. Conversely, Grayscale Bitcoin Trust (GBTC) experienced significant outflows, jumping to $66.9 million from $35 million on Monday.
An additional finding is that the total investments into the 11 Bitcoin Spot ETFs dropped by approximately half since their launch. On Monday, these funds attracted $62.2 million, primarily due to a decrease in FBTC investments and substantial GBTC withdrawals.
At present, Bitcoin’s price moves laterally without showing clear signs of trending up or down. Yet, Bitcoin ETFs continue to be active players in the market, even during this sideways phase. It is noteworthy that Tether keeps amassing Bitcoins and El Salvador consistently purchases one BTC each day. These developments could potentially boost Bitcoin’s price in the near future.
Bitwise CEO Spotlights RIA Adoption Of Crypto
In a recent post on X, Bitwise’s CEO Hunter Horsley noted the increasing interest in Bitcoin and cryptocurrencies among Registered Investment Advisors (RIAs). Specifically, he mentioned that three RIAs with asset under management (AUM) between $100 million and $2 billion each have recently taken steps to include digital assets in their investment offerings. These firms serve a combined client base of hundreds of families.
The proposed allocations encompass a 2% Bitcoin investment for every client, as well as discretionary assignments ranging from 3% to 10%. Furthermore, they suggest a 2.5% allocation to Bitcoin and crypto stocks incorporated into the investment strategies.
Additionally, Hunter revealed that a well-known RIA had notified him of their plan to incorporate Bitwise’s investment offerings, such as BITB, BITW, and BITQ, into their portfolio. This news indicates a growing trend towards Bitwise’s diverse investment strategies in the digital asset sector. Furthermore, Hunter mentioned that Bitwise is gaining popularity among financial advisors who view the company as a valuable collaborator.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD ZAR PREDICTION
- MNT PREDICTION. MNT cryptocurrency
- AVAX PREDICTION. AVAX cryptocurrency
- OP PREDICTION. OP cryptocurrency
- ARKM PREDICTION. ARKM cryptocurrency
- EUR KRW PREDICTION
- VIC PREDICTION. VIC cryptocurrency
- NLS PREDICTION. NLS cryptocurrency
- Call of Duty: MW3 and Warzone Season 5 Reloaded Update Patch Notes Revealed
2024-04-24 12:25