Latest news with #Balchunas
Yahoo
3 days ago
- Business
- Yahoo
Investment Advisers Become Top Holders of Spot Bitcoin ETFs, Ether ETF Demand Rises
There is a strong institutional presence in U.S. spot crypto exchange-traded funds (ETFs), with investment advisers taking a commanding lead, according to the recent SEC filings. Investment advisers now hold over $10.28 billion in spot bitcoin BTC ETF assets, representing 124,753 BTC. Investment advisers hold nearly half of the total crypto assets declared by the various funds. Hedge fund managers are second, holding $6.9 billion worth of BTC ETF, or nearly 83,934 BTC, followed by brokerages and holding companies. These figures, highlighted by Bloomberg ETF analyst Eric Balchunas, underscore how advisers have surged to the top "number one by a mile." Balchunas estimates that 13F filers currently make up about 20% of total spot Bitcoin ETF assets, a number likely to grow to 35%–40% as traditional finance embraces the product. There is a similar trend with ether ETH. Advisers lead with $582 million in exposure, representing 320,089 ETH, while hedge funds hold $244 million, or 134,469 ETH, according to Bloomberg ETF analyst James Seyffart. The total institutional ETH ETF exposure now stands at over $1.06 billion, or 587,348 ETH. Though smaller than bitcoin's footprint, it signals rising interest in diversified crypto exposure.
Yahoo
30-05-2025
- Business
- Yahoo
BlackRock's Bitcoin ETF Reaches Record Low Volatility, Draws Billions in Flows
BlackRock's iShares Bitcoin Trust exchange-traded fund (IBIT) is experiencing record-low volatility, according to Senior Bloomberg ETF analyst Eric Balchunas, which is attracting more interest from larger investors looking for a "digital gold" rather than speculative tech-like behavior. The 90-day rolling volatility of 47.64 is the lowest since the ETF was introduced in January 2024, Balchunas posted on X, a degree of stability that can be self-reinforcing. As volatility drops, larger and more risk-averse investors tend to enter, which in turn further suppresses volatility. "The thing with volatility is it can become self-fulfilling," Balchunas said in his post. "The lower the volatility gets, the more bigger investors will bite who will help lower volatility even more. The same 'should' happen with correlation too. This is a direct result of the 'suitcoiners.'' The trend is already underway, Balchunas said, citing IBIT's outsized inflows in recent weeks. Since its debut, IBIT has pulled in $49 billion in net inflows, more than four times the amount invested into the second-ranked Fidelity Wise Origin Bitcoin Fund (FBTC), which has attracted less than $12 billion, data from Farside Investors show. In contrast, Strategy (MSTR), the software company that has made buying bitcoin BTC a strategic priority, operates on a different appeal. MSTR attracts speculators and options traders who thrive on higher implied volatility (IV). However, even MSTR's IV has dipped recently to 60%, with historical volatility at 49%, contributing to its muted price action. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Top Bloomberg analyst credits Saylor and ETFs for Bitcoin's stunning rally
Industry insiders may be celebrating Bitcoin's climb toward all-time highs, but Bloomberg ETF analyst Eric Balchunas says the credit shouldn't just go to longtime crypto believers — it's the exchange-traded funds (ETFs) investors who truly moved the needle. In an exclusive conversation with TheStreet Roundtable, Balchunas pointed out that while early adopters and crypto natives are enjoying the rally, spot Bitcoin ETFs were the real catalyst behind the surge from $30,000 to $70,000. 'If you look at the last 18 months, ETFs and Saylor were net buyers. Everyone else? Net sellers,' Balchunas said. 'The ETFs did all the heavy-lifting.' Balchunas is a Senior ETF Analyst at Bloomberg Intelligence, known for his expertise in exchange-traded funds. With over two decades of experience, he bridges traditional finance and emerging assets like cryptocurrencies. He argues that ETFs make crypto investing far more accessible. 'ETFs are simple — you roll out of bed, click a button, and boom — Bitcoin exposure. No wallets, no exchange headaches, no 2% fees. Just 1–2 basis points. That's Amazon-level simplicity.' For investors who care about decentralization and self-custody, Balchunas says that's fine — but most people just want in. 'If you're into wallets and decentralization, great — but most people just want to invest. ETFs let them do that, fast and cheap.' Balchunas also believes ETFs helped clean up the damage left by scandals like FTX. 'FTX created a stench. The ETFs cleared that out.' As of May 19, Bitcoin ETFs had traded a total of $3.63 billion in value, per data from SoSo Value. He also noted how Bitcoin held strong during recent volatility. 'It didn't fall 40% like I expected. It was held. And when the market bounced, it outperformed.' As per Kraken's price feeds, Bitcoin is trading at $104,790, up 2.3% in the past 24 hours and showing continued strength after a sharp rebound in April. The world's largest cryptocurrency has climbed 11.7% over the past two weeks and 24.6% in the past month, reflecting growing investor confidence. With year-over-year gains now exceeding 56%, Bitcoin appears to be regaining momentum, supported by macro tailwinds, ETF inflows, and renewed institutional interest. Balchunas tied this shift to what he calls the 'Bogle Effect,' referencing Vanguard founder Jack Bogle. 'What Bogle did was flip Wall Street upside down. He created a firm where the investors owned the company… less churn, and a completely new investor behavior — one that doesn't panic-sell every time there's a dip.' According to Balchunas, Bitcoin ETFs are now channeling that same effect into crypto. 'Crypto often talks about decentralization and eliminating middlemen. But in practice, the space is full of friction — clunky wallets, high fees, confusing platforms. If the industry wants mainstream adoption, it needs to internalize what Bogle stood for: investor-first design.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
08-05-2025
- Business
- Bloomberg
An Inside Look at Trump's SEC With Commissioner Hester Peirce
By and Eric Balchunas Save Listen and subscribe to Trillions on Apple, Spotify, iHeart and the Bloomberg Terminal. During her time as a commissioner at the US Securities and Exchange Commission, Hester Peirce has often been a dissenting voice—especially on all things crypto. Now, as she approaches the official end of her term, her legacy may include an SEC that's more aligned with the positions she championed.
Yahoo
07-05-2025
- Business
- Yahoo
BlackRock's Spot Bitcoin ETF Tops World's Largest Gold Fund in Inflows This Year
The price of gold has surged almost 29% this year, solidly beating the 3.8% gain in bitcoin (BTC). Even so, that's failed to deter investors eager to add the largest cryptocurrency to their portfolios. BlackRock's spot bitcoin ETF (IBIT) has attracted a net $6.96 billion in inflows since the start of the year, the sixth-largest amount of all exchange-traded funds, according to data from Bloomberg's senior ETF analyst, Eric Balchunas. SPDR Gold Trust (GLD), the world's largest physically backed gold ETF, slipped to the number seven position Monday with net inflows of $6.5 billion. IBIT's outperformance indicates institutions' persistent confidence in bitcoin's long-term prospects despite the relatively dour price performance. Gold has climbed $3,384, largely due to wrangles over international trade, renewed inflation concerns and geopolitical tensions. While BTC, called by some as digital gold, hit a record high in January, it's now more than 10% below that level. "To take in more cash in that scenario is really good sign for long term, and inspires confidence in our call that BTC ETFs will have triple gold's aum in 3-5yrs," Balchunas said on X. Top ETFs by year-to-date inflows. (Eric Balchunas/Bloomberg)
