All US Bitcoin ETFs are seeing daily inflows for the first time.
A post showing daily inflows for all US Bitcoin ETFs for the first time appeared on BitcoinEthereumNews.com.
Bloomberg ETF analyst Eric Balchunas pointed out that Bitcoin ETFs are seeing inflows for the first time at any branch of U.S. registration. He pointed out that boomers are better at holding ETF stocks than cryptocurrency investors. All U.S. spot Bitcoin exchange-traded funds (ETFs) recorded positive net flows on March 6, according to Bloomberg ETF analyst Eric Balchunas. He shared at X that this is the first instance of daily netflow. Moreover, Balchunas said more than 95% of ETF investors held stocks during “a very terrible and persistent recession.” “As we say, outflows will happen and inflows will happen, but two things tend to emerge about ETFs over time: net growth and relatively strong hands,” the Bloomberg analyst added. For the first time, 1D flows in all green and no red in Bitcoin Bunch. I’m not going to skyrocket football like some did during the outflow, but I will point out that over 95% of ETF investors held it during a very unpleasant and persistent recession. The same thing will happen next time… pic.twitter.com/3l3uwwmqGy — Eric Balchunas (@EricBalchunas) May 6, 2024 Balchunas also said that from what he has seen so far, boomers are better holders of cryptocurrencies than natives. I shared this while replying to one of the comments. “This is a very small hot sauce allocation for a crowd of 60 to 40 people, not a ‘real portfolio’. This helps them withstand volatility.” Additionally, the US Spot Bitcoin ETF added 4,412 BTC to its holdings, equivalent to over $280 million, according to X user Lookonchain. The largest Bitcoin additions were by Fidelity’s FBTC and ARK Invest’s ARKB, which attracted 1,574 BTC and 1,200 BTC, respectively. Cumulatively, U.S. Bitcoin ETFs hold over $52 billion in Bitcoin, or 821,736 BTC. Grayscale’s GBTC still leads with 291,293 BTC at the time of writing, with BlackRock’s IBIT close behind at 274,029.
