Join our Telegram Channel to keep up to date with breaking news coverage.
US spot bitcoin ETFs (exchange-traded funds) saw net outflows of $81.36 million yesterday to end a two-day positive flow streak as Bitwise says about 66% of institutional investors increased or held their positions. bitcoin ETF positions in the second quarter.
BlackRock's IBIT and Franklin's EZBC were the only two funds to record net inflows on Aug. 14. IBIT saw its reserves grow by $2.68 million, while EZBC recorded net inflows of $3.42 million, according to data from btc-spot”>Bland Value.
<img decoding="async" alt="How long until Grayscale's ETF runs out of bitcoin? – Decrypt” src=”https://technicalterrence.com/wp-content/uploads/2024/08/81M-Bitcoin-Spot-ETF-Outflow-Ends-Hot-Streak-as-Bitwise”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-trust-gID_7.jpg”/>bitcoin-trust-gID_7.jpg” alt=”How long until Grayscale's ETF runs out of bitcoin? – Decrypt”/>
Grayscale's bitcoin ETF takes another hit, sees biggest outflows yet
Grayscale’s GBTC suffered another setback, seeing $56.87 million in inflows yesterday. Fidelity’s FBTC saw the second-largest outflow of the day, after $18.05 million left the fund. During the same trading session, Ark’s ARKB and 21Shares and Bitwise’s BITB also saw outflows of $6.77 million and $5.78 million, respectively. The remaining 6 funds saw no inflows.
bitcoin spot ETF trading volume hit $1.3 billion yesterday, up slightly from $1.18 billion the previous day.
As far as bitcoin is concerned, the leading cryptocurrency had a volatile trading session. After managing to surpass $61K and hit an intraday high of $61,687.76 yesterday, btc saw its price fall 3% in one hour below $57,000. Since then, bitcoin/”>recovered slightly to trade at $58,144.79 at 2:45 am EST.
Institutional investors increase their btc ETF holdings
According to Bitwise, approximately 66% of institutional investors maintained or increased their exposure to spot bitcoin ETFs. “Institutional investors continued to embrace bitcoin ETFs in Q2. The trend is intact,” Bitwise Chief Investment Officer Matt Hougan said in an Aug. 15 post on x.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”13.359756097561″>
Some initial thoughts after reviewing bitcoin’s Q2 13-F filings:
1) Institutions are still coming in; the total number of submissions is up: I count 1,924 headline-ETF pairs across the 10 ETFs, up from 1,479 in Q1. This is a 30% increase; not bad considering that prices fell in Q2.
Of course, this…
—Matt Hougan (@Matt_Hougan) twitter.com/Matt_Hougan/status/1823862825577844953?ref_src=twsrc%5Etfw”>August 14, 2024
He added that most large corporations have “diamond hands.”
Related articles:
PlayDoge (PLAY): The Latest ICO on the BNB Chain
- Virtual 2D Doge Pet
- Play to Win Meme Coin Fusion
- Participation rewards and in-game tokens
- SolidProof audited – playdoge.io
Join our Telegram Channel to keep up to date with breaking news coverage.
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
