|
|
Bloomberg ETF analyst Eric Balchunas stated on the X platform that despite a $590 million outflow in GBTC, the market performance led by the "NewbornNine" (referring to the recently launched nine Bitcoin spot ETFs) remains strong. These new ETFs achieved a net inflow of $623 million on the same day, marking the third-best record. Among them, BlackRock's IBIT and Fidelity's FBTC both experienced inflows of over $200 million, while BTCO and HODL also achieved their best performance to date.
Currently, the total net inflow amounts to $1.2 billion, and the AUM of the new ETFs has grown to $4 billion. In comparison, GBTC has accumulated a net outflow of $2.8 billion, and the proportion of new ETFs in total AUM has increased to 14%.
Analyst Eric Balchunas pointed out that while some believe that part of the outflow from GBTC may have flowed into these new ETFs, in reality, most of the outflow may have originated from FTX and discount arbitrage traders, rather than directly going into the new products. In addition, the flow of funds almost perfectly corresponds to the size ratio of each company, indicating that the new liquidity is more a result of market coverage, distribution strategies, and proactive operations. |
|
Post time 3-2-2024 12:25:04