{"id":16804,"date":"2024-09-09T14:24:01","date_gmt":"2024-09-09T11:24:01","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-etfs-witness-1-2-billion-outflow-over-eight-days\/"},"modified":"2024-09-09T14:24:01","modified_gmt":"2024-09-09T11:24:01","slug":"bitcoin-etfs-witness-1-2-billion-outflow-over-eight-days","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-etfs-witness-1-2-billion-outflow-over-eight-days\/","title":{"rendered":"Bitcoin ETFs Witness $1.2 Billion Outflow Over Eight Days"},"content":{"rendered":"<p>From August 28 to September 6, spot Bitcoin ETFs experienced an outflow of $1.2 billion, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-09\/us-bitcoin-btc-etfs-bleed-1-2-billion-in-longest-run-of-outflows\">Bloomberg<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1196.webp\" alt=\"1-1196\" class=\"wp-image-240698\"\/><figcaption class=\"wp-element-caption\">Source: Bloomberg.<\/figcaption><\/figure>\n<p>The agency noted that this marks the longest streak of daily fund withdrawals from exchange-traded funds since their <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">listing in January<\/a>. The catalyst was a wave of flight from risky assets amid an uncertain macroeconomic landscape.<\/p>\n<p>According to Jim Bianco, CEO of Bianco Research, broader adoption of ETFs will require more time. He cited the 2028 halving and significant development of on-chain tools as catalysts. Currently, exchange-traded funds serve more as a &#8220;small tourist product,&#8221; the expert added.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/8<\/p>\n<p>Spot BTC ETFs update<\/p>\n<p>tl:dr<br \/>* Inflows now outflows<br \/>* Holders have record losses<br \/>* Advisors <10% of holdings (boomers never came)<br \/>* Avg trade size now <$12k.\n\nIt&#8217;s not an adoption vehicle. Instead a small tourist tool and on-chain is returning to Tradfi.\n\nSee posts #4 and #8<\/p>\n<p>\u2014 Jim Bianco (@biancoresearch) <a href=\"https:\/\/twitter.com\/biancoresearch\/status\/1832806811088638440?ref_src=twsrc%5Etfw\">September 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the specialist, &#8220;very little new money&#8221; has entered the cryptocurrency space, as most inflows are linked to &#8220;on-chain holders who returned to <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span> accounts.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;First, patience is needed, to endure a few more seasons, including a winter or two, and to make a breakthrough in development,&#8221;<\/em> Bianco suggested.<\/p>\n<\/blockquote>\n<p>Bloomberg analyst Eric Balchunas disagreed with the assessments of the Bianco Research CEO.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Need help: If <a href=\"https:\/\/twitter.com\/search?q=%24IBIT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$IBIT<\/a> has like >$20b in assets (in 8mo btw) and that\u2019s considered a failure then what word should be used to describe an ETF w $7m in assets?<\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1832868695166582791?ref_src=twsrc%5Etfw\">September 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;If [BlackRock&#8217;s product] IBIT has an <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> of $20 billion and that&#8217;s considered a failure, then what word should be used to describe an ETF with $7 billion in assets?&#8221;<\/em> he inquired.<\/p>\n<\/blockquote>\n<p>Balchunas was supported by analyst Bryan Ross.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">This data could actually be interpreted as bullish; if most <a href=\"https:\/\/twitter.com\/hashtag\/ETF?src=hash&#038;ref_src=twsrc%5Etfw\">#ETF<\/a> trades are NOT institutional, this means institutions aren\u2019t even here yet, and we could see massive institutional inflows next time FOMO and greed show up.<\/p>\n<p>\u2014 Bryan Ross (@bryanrosswins) <a href=\"https:\/\/twitter.com\/bryanrosswins\/status\/1832824609537954080?ref_src=twsrc%5Etfw\">September 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em> &#8220;If most trades are not institutional, this means institutions have not yet arrived. We could see massive inflows from this market segment the next time <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%91%D0%BE%D1%8F%D0%B7%D0%BD%D1%8C_%D0%BF%D1%80%D0%BE%D0%BF%D1%83%D1%81%D1%82%D0%B8%D1%82%D1%8C_%D0%B8%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D0%BD%D0%BE%D0%B5\" title=\"\">FOMO<\/a> appears,&#8221;<\/em> he concluded.<\/p>\n<\/blockquote>\n<p>By the end of the first quarter of 2024, 13 of the 25 largest US hedge funds <a href=\"https:\/\/u1f987.com\/en\/news\/river-major-us-hedge-funds-embrace-bitcoin-etfs\">held Bitcoin-based products<\/a>, according to River.<\/p>\n<p>According to Bitwise, based on reports to the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> for April-June, 44% of managers increased investments in spot BTC-ETFs, while another 22% maintained their position size.<\/p>\n<p>In May, BlackRock&#8217;s head of digital assets, Robert Mitchnick, <a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-anticipates-renewed-interest-in-bitcoin-etfs\">expressed<\/a> expectations of a new wave of inflows into products due to institutional participation.<\/p>\n<p>In April, analysts at Bernstein <a href=\"https:\/\/u1f987.com\/en\/news\/bernstein-sees-bitcoin-etf-inflow-slowdown-as-temporary\">made a similar forecast<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From August 28 to September 6, spot Bitcoin ETFs experienced an outflow of $1.2 billion, according to Bloomberg. Source: Bloomberg. The agency noted that this marks the longest streak of daily fund withdrawals from exchange-traded funds since their listing in January. The catalyst was a wave of flight from risky assets amid an uncertain macroeconomic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,1145,1138],"class_list":["post-16804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-market-analysis","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16804"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16803"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}