Latest news with #WiseOriginBitcoinFund
Business Mayor
24-04-2025
- Business
- Business Mayor
BlackRock's Bitcoin ETF Sees $643 Million Inflows
BlackRock's flagship Bitcoin ETF attracted $643.16 million in net inflows on April 23, marking its strongest single-day performance since January 21. The substantial inflow comes as bitcoin continues its upward momentum, trading above $92,000 following positive signals from the Trump administration regarding U.S.-China trade relations. IBIT's impressive showing contributed to a broader surge in Bitcoin ETF activity, with total spot Bitcoin ETF inflows reaching $916.91 million on Wednesday. This marks the fourth consecutive day of positive flows for U.S.-listed Bitcoin ETFs, bringing the week's total inflows to approximately $2.23 billion. ARK 21Shares Bitcoin ETF (ARKB) and Fidelity's Wise Origin Bitcoin Fund (FBTC) also saw significant interest, recording inflows of $129.5 million and $124.4 million respectively. The strong performance across multiple funds suggests growing institutional conviction in bitcoin as an investment asset. The surge in ETF interest coincides with bitcoin's break above $90,000, fueled by President Trump's hints at reducing Chinese import tariffs and confirmation that Federal Reserve Chairman Jerome Powell will remain in his position. The new SEC Chairman Paul Atkins' pro-bitcoin and crypto stance has further bolstered market sentiment. Since their January launch, U.S. spot Bitcoin ETFs have accumulated net inflows of over $37 billion, with total assets under management reaching $106.39 billion. BlackRock's IBIT leads the pack, managing approximately $53.77 billion in net assets and recently winning 'Best New ETF' at the annual awards. The recent streak of positive flows marks a significant shift from early April's outflows, suggesting renewed institutional confidence in bitcoin as both a strategic asset and inflation hedge. The trend appears supported by broader market dynamics, including a weakening U.S. dollar and expectations of Federal Reserve rate cuts in mid-2025. Read More How Financial Surveillance Threatens Our Democracies: Part 2 However, market observers note that ongoing trade policy uncertainties and inflation concerns could still impact bitcoin's trajectory. Investors continue to monitor ETF flows and macroeconomic developments as indicators of sustained institutional adoption. At press time, Bitcoin trades at $92,840, maintaining its position above key psychological levels as institutional investment continues through regulated ETF vehicles. READ SOURCE
Yahoo
26-02-2025
- Business
- Yahoo
Bitcoin ETFs Are Hit by a Record $1 Billion Outflow in One Day
(Bloomberg) -- Investors yanked more than $1 billion from spot Bitcoin exchange-traded funds Tuesday, marking the biggest one-day outflow since the cohort's debut last January. The Trump Administration Takes Aim at Transportation Research NYC's Congestion Pricing Pulls In $48.6 Million in First Month Shelters Await Billions in Federal Money for Homelessness Providers New York's Congestion Pricing Plan Faces Another Legal Showdown NYC to Shut Migrant Center in Former Hotel as Crisis Eases Fidelity Wise Origin Bitcoin Fund (ticker FBTC) posted the steepest outflows among these funds, followed by the iShares Bitcoin Trust ETF (IBIT), according to data compiled by Bloomberg. That's as Bitcoin's price has been faltering, with investors shunning riskier assets in the face of uncertainty. As a group, the Bitcoin funds shed roughly $2.1 billion over six consecutive days — the longest stretch of outflows since last June. The world's largest digital asset has come under pressure this week, with its price sinking to its lowest level since mid-November after hitting an all-time high earlier this year. Other cryptocurrencies also slid, with an index tracking top digital tokens on pace for its largest four-day drop since early August. While Bitcoin funds are seeing an exodus, investors took advantage of a recent stock selloff to add nearly $7 billion combined in one session to the Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF Trust (SPY). 'Digital assets are still very retail-flow driven, despite institutional flows over the past 12 months,' said Geoff Kendrick, global head of digital assets research at Standard Chartered. 'This sets them apart from equities and fixed income. In my opinion, this means the average hand is weaker or has less deep pockets to ride losses. Hence more pain is likely.' Kendrick predicts Bitcoin will trade even lower — at around the $80,000 range — at which point he will 'buy the dip.' To Matthew Sigel, VanEck's head of digital-asset research, the record outflows likely stem from hedge funds unwinding a popular trading strategy called the basis trade, which exploits differences in prices between spot and futures markets. Some have used the ETFs to profit from the cryptocurrency's volatility or offset a short position in derivatives. 'This strategy involves buying Bitcoin spot (often through ETFs) while simultaneously shorting Bitcoin futures to lock in a low-risk return,' Sigel said. 'However, the profits from this trade have recently collapsed, making it far less attractive. As a result, hedge funds that were using ETFs for this strategy have likely closed their positions, leading to significant redemptions.' It's also possible that investors newer to the crypto arena, who are generally considered more likely to panic, have driven the outflows, according to Stephane Ouellette, chief executive officer and co-founder of FRNT Financial Inc. 'Those investors are less indoctrinated into the space, simply due to the fact that they do not have their own infrastructure to hold physical BTC,' he said. 'I think it's too strong to characterize ETF outflows as investors 'not buying the dip' in BTC.' Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience Meet Seven of America's Top Personal Finance Influencers China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction ©2025 Bloomberg L.P. Sign in to access your portfolio
