The ruble, the dollar, the bitcoin… Ah, the fickle dance of fortunes! Min Jung, that insightful soul from Presto Research, observes a curious phenomenon: institutional investors, those cautious creatures, are still sniffing around Bitcoin like dogs around a juicy bone. A persistent interest, yes, but is it love or just a fleeting infatuation? 🤔
Farside Investors, those keepers of digital secrets, reveal that Thursday’s Bitcoin ETF inflows reached a hefty $89 million. Fidelity’s FBTC, the flamboyant leader, raked in a staggering $97.14 million – a veritable feast! BlackRock’s IBIT, a more modest player, added nearly $4 million. But alas, not all is gold that glitters. Invesco’s BTCO lost around $7 million, a bitter pill to swallow indeed. And poor WisdomTree’s BTCW suffered $5 million in outflows – a clear case of buyer’s remorse, perhaps? 😂
Despite this ten-day inflow spree, Jung points out that the total amount is rather paltry compared to the January 17th bonanza. The crypto market, along with the stock market, has been tossed around like a rag doll since Trump’s tariff tantrum. The uncertainty hangs heavy in the air like a bad smell after a particularly wild party. 💨
Some investors, bless their adventurous hearts, have regained their nerve. But the shadow of Trump’s policies still looms large, casting a pall over the entire affair. One wonders if they’ll ever learn… 😉
Over this ten-day period, Bitcoin ETFs collectively gathered a rather underwhelming $1.06 billion – a mere pittance compared to the January 17th deluge. Meanwhile, Ether ETFs have been struggling, showing outflows on almost every day since February 20. Jung explains that this stark contrast highlights the unwavering faith (or perhaps stubbornness?) investors have in Bitcoin over Ethereum. A clear case of misplaced priorities, if you ask me! 🤷♂️
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2025-03-28 12:48