Tag: Bitcoin ETF

Bitcoin Price Suddenly Drops Below $90K Again as BlackRock’s IBIT Continues to Bleed

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IBIT is on a 5-day negative streak.

Bitcoin’s price recovery attempt to $94,000 was short-lived as the asset plunged again to under $90,000 for the second time in the past few days.

Aside from the overall market correction, another notable reason behind these pullbacks could be attributed to the negative performance of the world’s largest BTC-focused ETF.

BTCUSD. Source: TradingView

Data provided by FarSide paints a clear and violent picture. BlackRock’s IBIT has seen net outflows in 11 out of the last 15 trading days, and only two of those four were with positive numbers. The fund has lost roughly $2.650 billion within this timeframe, which is a stark contrast to the millions (and even billions on some dates) attracted daily during the summer rally.

What’s even more worrisome is the fact that the withdrawals on November 18 of $523.2 million set a record for the single-largest day of net outflows. Fidelity’s FBTC has also been bleeding out lately, with some examples on November 4 (-$356.6 million) and November 7 (-$256.7 million).

Overall, nearly $5 billion has been withdrawn from the spot Bitcoin ETFs in the United States since October 29. Naturally, this sort of investor behavior has harmed the underlying asset’s price, which traded above $116,000 at the end of the previous month.

Since then, it has dropped by more than $26,000 as it now trades well below $90,000 after the most recent rejection at $94,000 earlier today.

The situation around Ethereum and its ETF is rather identical and even worse on some occasions. In fact, the funds have been deep in the red since October 8. More precisely, only six out of the 28 trading days since that date have seen net inflows; the rest have been in a negative territory.

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Expectedly, ETH’s price has suffered a lot within this timeframe. It stood close to $4,800 on October 7 before the overall market crash drove it south hard, as the asset plunged below $3,000 once again minutes ago.

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Jordan Lyanchev

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November 19, 2025
300K BTC Liquidated: How Institutions Are Reshaping the Crypto Market

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Institutions and ETFs now absorb most BTC sales, signaling a silent transfer of wealth in the crypto market.

Bitcoin’s long-term holders have quietly offloaded nearly 300,000 BTC, worth around $33 billion, since July 2025, according to on-chain data shared by market analyst Shanaka Anslem Perera.

The massive rotation, largely absorbed by ETFs and corporate treasuries, marks what the expert is calling the most significant structural shift in Bitcoin’s ownership since the asset’s inception.

The Great Wealth Transfer

According to Perera’s analysis, shared on his Substack The 100,000 Question, long-term holders, wallets that haven’t been used for more than 155 days, have been selling BTC to institutions through private deals and ETF setups instead of public exchanges. The result: a silent but sweeping transfer of wealth.

BlackRock and Fidelity’s spot Bitcoin ETFs now control about 1.4 million BTC, representing $139 billion in assets under management. After a $2.9 billion outflow in October, inflows returned sharply in early November, with $300 million entering the market within 72 hours.

Bloomberg ETF analyst Eric Balchunas contextualized the turbulence on November 11, noting that the $2.7 billion in outflows this past month equaled just 1.5% of total ETF assets, evidence that 98.5% of holdings remain steady.

Despite the scale of selling, Perera said BTC has exhibited stability, trading between $95,000 and $106,000 with volatility dropping to 35%, nearly half its historical average, while unrealized losses remain minimal at 3.1%. These trends mean that institutions, not retail traders, are anchoring the flagship cryptocurrency’s price behavior.

A New Market Reality Emerges

This fundamental change in ownership is rendering traditional Bitcoin cycle theory obsolete. The post-halving period, which historically produced returns exceeding 150%, has yielded only a 41% increase this time.

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According to Perera, the reason is structural: the standing bid from ETFs and corporate treasuries like Strategy, which now holds more than 641,000 BTC, has prevented the deep drawdowns that characterized previous market cycles.

The community is divided on what comes next. Some analysts point to persistent resistance, with an assessment from XWIN Research Japan revealing that, despite bullish news, a “wall” between $107,000 and $118,000 has been difficult to break due to ongoing long-term holder distribution.

Looking at the market, after reaching an all-time high above $126,000 in early October, BTC corrected and is now changing hands near $104,500. It is down roughly 8% over the past 30 days but remains up 18% for the year.

According to Perera’s analysis, a sustained hold above $100,000, backed by consistent institutional inflows, could pave the way for the next leg upward, while a break below could test the next major support level near $88,500.

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Wayne Jones

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November 12, 2025
Retail Traders Retreat: Binance Sees 80% Drop in Deposits

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Data from CryptoQuant shows daily Bitcoin deposits from wallets under 0.1 BTC fell from 552 BTC to just 92 BTC.

New data has revealed a steep drop in activity from small-scale Bitcoin (BTC) investors on major trading platforms, with Binance experiencing an 80% collapse in daily deposits from this group since early 2023.

Some market watchers are seeing the shift as a fundamental change in market structure, where traditional retail participation is being replaced by institutional vehicles and long-term holding strategies.

The Great Retail Retreat

According to an analysis shared by CryptoQuant analyst Darkfost, the flow of Bitcoin into Binance from addresses that hold less than 0.1 BTC, often called “shrimps,” has fallen off a cliff.

The 90-day moving average of daily deposits from these small holders has been cut by more than five times, dropping from roughly 552 BTC at the start of 2023 to just 92 BTC now. This trend gained even more speed after spot ETFs started trading in January 2024. Before their launch, the daily average was around 450 BTC, meaning the drop to 92 BTC represents a steep and continuing decline.

Darkfost identified three main factors driving this collapse. First, he claimed a portion of retail investors now prefer to get Bitcoin exposure through ETFs, bypassing the need to use an exchange like Binance altogether. Second, small holders of Bitcoin are opting to keep it in their wallets instead of selling it on an exchange.

Lastly, he suggested that the data no longer include consistent accumulators who have simply grown their holdings beyond the “shrimp” category. The result is a market increasingly powered by new large holders, corporate treasuries, and steadfast accumulators, making this cycle distinctly different from those in the past.

A Market in Search of Direction

The changing retail landscape comes even as the broader market is showing signs of fatigue. At the time of this writing, Bitcoin was priced at $107,133, down 3.2% over the last 24 hours and 6.8% in the past week.

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It follows a difficult October, with CoinGecko data showing the asset fell more than 12% over the past month, and in the process, it helped break a long streak of positive October performances.

Other data support a cautious mood. A report from CryptoQuant noted that demand for BTC and ETH exposure has softened among U.S. investors, with Bitcoin ETFs seeing net outflows of more than 280 BTC and inflows into their Ethereum counterparts grinding to almost zero. Meanwhile, momentum indicators on Binance, such as the CVD, have pulled back from October highs, pointing to a possible loss of upward strength.

Traders are now watching key support levels; if selling pressure continues, the $97,000 to $98,000 zone is considered the next major test. And although the long-term foundation is still intact, the market appears to be taking a breather, with retail investors seemingly becoming more careful.

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Wayne Jones

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November 3, 2025
Bitcoin Network Hits Record Activity High: What Does it Mean for BTC’s Price?

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Bitcoin’s transaction count has reached 540,000, marking the highest level in 2025.

Analysts say the rise in network activity is a sign of growing demand and could support the cryptocurrency’s next bullish phase.

Rising On-Chain Transactions Signal Growing Demand

Source: tradingview.com

QryptoQuant’s latest report shows there has been a noticeable increase in activity on the Bitcoin network. Analysts believe that the flagship cryptocurrency’s price trajectory might be impacted by the recent spike in network activity.

CryptoOnchain’s study looked at Bitcoin’s transaction count, which shows how many confirmed transfers happen on the network at a given time. In 2025, the 14-day average of these transactions reached 540,000, the highest level so far this year. The analyst said this jump points to stronger demand and more use of the network, with protocols like Bitcoin Ordinals and Runes likely adding to the activity.

The report also pointed out a “ullish convergence” between Bitcoin’s transaction count and its price since July. This pattern suggests that the current uptrend is not just based on speculation. Unlike earlier periods when price and activity moved in different directions, the current rally is being supported by stronger real usage on the network. However, keeping this level of activity will be important for Bitcoin to maintain its momentum.

Market Outlook

Bitcoin is currently trading around $112,500, down roughly 4% on the day, and appears to be breaking down from its consolidation range amid mild bearish pressure. The leading cryptocurrency’s price swung sharply over the past week, falling below $113,000 before briefly rallying to $117,800. This was after the Federal Reserve slashed interest rates by 25 bps, only for it to settle back to its earlier level before today’s drop.

Since September 9, US spot Bitcoin ETFs have attracted over $2.8 billion in net inflows, pushing activity into positive territory. Institutional demand remains a stabilizing factor, with ETF allocations and exchange withdrawals reinforcing long-term conviction.

While technical indicators suggest alignment for a potential breakout, network activity has not kept pace with price momentum, and miner incentives remain under scrutiny. On the other hand, sentiment indicators, including a neutral Fear & Greed Index and mixed MACD signals, urge caution. Investors should monitor macroeconomic shifts and ETF flows closely to navigate the next phase of Bitcoin’ss trajectory.

The post Bitcoin Network Hits Record Activity High: What Does it Mean for BTC’s Price? appeared first on CryptoPotato.

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Wayne Jones

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September 22, 2025
The ‘Uptober’ Effect: Why Analysts Are Bullish on Bitcoin’s Price in October

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Bitcoin (BTC) is on track for a third consecutive “green” September, a trend that has historically set the stage for a “double-digit” October rally.

With gains for the month currently hovering around 8%, analysts are watching to see if this pattern, dubbed “Uptober”, will repeat itself.

Look Out for the Double-digit October

Analysts are watching BTC closely this month, noting that in past years, every September with an upward trend has been followed by double-digit gains in October. For example, in 2024, the asset recorded a +7.29% increase in September, which was followed by a +10.76% rise the next month. In 2023, it gained +3.91% during the same period and was followed by a +28.52% jump in October, as shown below:

BTCUSD monthly returns. Source: CoinGlass

This consistent trend has led experts to believe that traders and investors could be positioning their portfolios to anticipate a rally, which may result in a self-fulfilling prophecy. As institutional and retail money pours in, the heightened buying pressure creates the very surge they were predicting, amplifying the “Uptober” narrative and making it a key part of the market’s psychology.

The April 2024 Bitcoin halving, which slashed the reward for mining new blocks by 50%, has created a supply shock. Historically, the year following a halving has been a powerful growth period. The “Uptober” rally fits into this broader cycle, as the reduced supply meets sustained demand.

Past data provide evidence of this trend. For instance, the 2016 halving was followed by a landmark bull run in 2017, where BTC’s price surged from a few hundred dollars to nearly $20,000. Similarly, the 2020 halving was the precursor to a historic surge in 2021, when the cryptocurrency’s price skyrocketed from around $10,000 to a peak near $69,000 by November.

Macroeconomic Policy and Institutional Adoption

Following months of economic uncertainty, recent actions by central banks, including a rate cut by the Federal Reserve in September 2025, have injected a sense of confidence into riskier assets. The recent reduction by 25 BPS saw the flagship cryptocurrency’s price rally to $118 K.

Additionally, recent shifts in U.S. government policy are seen as a bullish sign. The Trump administration has taken a pro-crypto stance, with the creation of a Strategic Bitcoin Reserve in March 2025.

The continued growth of spot Bitcoin ETFs, particularly in the United States, has also become a major driver of demand. Recent data highlights this trend. In the first half of September, these investment products saw their largest weekly inflows since July, with some funds accumulating hundreds of millions of dollars in a single day.

Institutional demand is said to be outpacing the pace of new BTC supply coming from mining. The combined holdings of US-listed ETFs have now crossed 1.3 million BTC, showing the adoption by large investors and its impact on market dynamics.

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Wayne Jones

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September 21, 2025
Will Money Moving Back into Bitcoin ETFs Spark a New Rally?

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Money is moving back into Bitcoin ETFs at a rapid rate as retailers impatiently drop out of crypto, reported blockchain analytics platform Santiment on Wednesday.

They added that ETF inflows ignited spot markets, which followed suit. However, this is usually the other way around as ETFs lag spot market moves.

“Previous crypto rallies were boosted by inflow spikes like this.”

Spot Bitcoin exchange-traded funds have seen two days of aggregate inflows this week, but spot BTC prices have remained relatively flat.

Money is moving back into Bitcoin ETF’s at a rapid rate as retailers impatiently drop out of crypto. Previous crypto rallies were boosted by inflow spikes like this.

Visit the FREE Bitcoin ETF dashboard any time, brought to you by @santimentfeed: https://t.co/21UX8IA1p6 pic.twitter.com/J3yXcW9di3

— Santiment (@santimentfeed) September 10, 2025

Institutional Inflows Increase

Tuesday saw an aggregate inflow of $23.3 million for the eleven funds. This figure is very small compared to previous inflow days, but it reverses the trend of outflows last week, since Monday also saw an inflow of $364.3 million.

It was a short last week, but the total inflow for the four trading days was just $250 million, less than the inflow on Monday this week. BlackRock’s IBIT had the lion’s share of the inflows with $169.5 million on Tuesday, which countered the outflows from Fidelity, Bitwise, and ARK 21Shares.

Meanwhile, spot markets have been muted, with Bitcoin bouncing between $111,000 and $113,000 over the past few days. The asset topped $113,200 in Tuesday trading before falling back to $111,500 again during the Wednesday morning Asian session.

Meanwhile, the Bitcoin Fear and Greed Index was smack in the middle at 49, neutral, as traders remain undecided.

Retail traders have “changed their tunes,” swinging more and more negative with expectations of Bitcoin falling back below $100,000, Ethereum back below $3,500,” observed Santiment.

“As markets move opposite to the crowd’s expectations, these couple of weeks of FUD are an encouraging sign that this feared large retrace will never actually happen.”

Dogecoin ETF Imminent

Investors could see a new product launched this week as analysts anticipate the new Rex-Osprey DOGE ETF hitting the exchanges.

“Meme coin ETF era about to kick off, it looks like, with DOJE slated for a Thursday launch,” said Bloomberg ETF expert Eric Balchunas, who added:

“Pretty sure this is the first-ever US ETF to hold something that has no utility on purpose.”

The Doge people (what do you call them, Doge-rs?) are objecting to my “no utility” comment. But the coin was literally started by two guys as a joke. So what’s the utility? https://t.co/6YtQPnCOTx

— Eric Balchunas (@EricBalchunas) September 9, 2025

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Martin Young

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September 9, 2025
6 Weeks Straight: Ethereum ETFs Leave Bitcoin in the Dust

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Ethereum exchange-traded funds (ETFs) have outperformed their Bitcoin counterparts for six consecutive weeks, highlighting a shifting preference among investors.

Fresh data shows ETH products are drawing steadier inflows even as Bitcoin ETFs continue to command the lion’s share of assets under management.

Weekly Data Highlights Ethereum’s Edge

According to data from SoSoValue, as of August 27, cumulative inflows into U.S. spot Bitcoin ETFs stood at $54.19 billion, with $144.57 billion in assets under management.

By contrast, Ethereum ETFs have drawn $13.64 billion in total inflows and now manage $30.17 billion, representing 5.44% of ETH’s market capitalization. However, while BTC funds remain far larger, Ethereum’s pace of accumulation has become quite notable.

Analysis by DefiLlama based on data from Farside Investors shows that spot ETH ETFs have posted stronger inflows than the BTC ones in six straight weeks, including periods of overall market turbulence.

You would have to go back to the July 14-20 window, when BTC ETFs were in the middle of a long inflow streak, to find the last time they topped Ethereum. In that week, the Bitcoin-based products saw $2.386 billion in net inflows against Ethereum’s $2.182 billion. Since then, it has all been downhill for the OG cryptocurrency.

Between July 21 and 27, Bitcoin ETFs saw just $72.3 million in inflows, while Ethereum ETFs brought in $1.84 billion. The trend deepened from July 28 to August 3, when BTC posted $642.9 million in outflows compared to ETH’s net gains of $154.3 million.

Even in weeks where both asset classes recorded losses, ETH still fared better. For example, between August 18 and 24, Bitcoin funds shed $1.179 billion, while only about $241 million worth of capital trickled out of Ethereum ETFs.

With still a few days left in the last week of August, ETH is again leading after raking in over $1.2 billion in inflows. Meanwhile, since Monday, their BTC counterparts have collectively managed a more modest $388.6 million.

Market Context

Looking closer, within the ETF ecosystem, BlackRock dominates both asset classes. Its IBIT product leads Bitcoin with $83.54 billion in net assets after a $50.87 million single-day inflow on August 27.

On the Ethereum side, the investment firm’s ETHA fund accounts for $17.19 billion in assets and added $262.63 million that same day, dwarfing activity from competitors such as Fidelity and Grayscale.

The story is also similar in the markets, with the two leading crypto assets moving in opposite directions. Bitcoin is trading at $112,967, down slightly by 0.4% on the week compared to ETH’s 7.5% pump in the same period.

BTC also lags in the monthly charts, dipping by 5%, while ETH went up by almost 19% in that time. In one year, ETH has advanced by 86%, which is broadly in line with Bitcoin. Furthermore, both assets recently hit new all-time highs, but have since dropped from their respective peaks by almost the same rate.

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Wayne Jones

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August 28, 2025
ETH Continues to Outpace BTC Amid Biggest Bitcoin ETF Outflows in Months: Bitfinex Alpha

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Following a period of substantial inflows, U.S. spot Bitcoin and Ethereum exchange-traded funds (ETFs) are facing a season of major outflows. During this time, Bitcoin ETFs are leading, and these withdrawals are reflecting the price of the underlying asset.

Data reviewed by analysts at the crypto exchange Bitfinex revealed that investors withdrew at least $1.18 billion from spot Bitcoin ETFs last week. Their Ethereum counterparts saw fewer outflows, possibly due to the ongoing capital rotation into the altcoin market.

A Week of Consistent Outflows

Bitcoin ETFs have recorded net outflows of more than $1.5 billion over six consecutive trading days from August 15 to 22. The negative numbers came after a seven-day streak of inflows leading up to bitcoin’s latest all-time high (ATH) of over $124,000. Market experts believe the demand decline reflects a more measured appetite from investors at this stage in the bull cycle.

Within the same timeframe, Ethereum ETFs have also witnessed outflows exceeding $918 million; however, the negative streak did not continue beyond August 20. Despite these outflows, ETH proceeded to reach an ATH above $4,940 on August 24, although it had retraced at press time. Bitcoin, on the other hand, has been on a decline, tumbling by over $15,000 from top to bottom.

Investors’ risk-off approach to the Jackson Hole symposium exacerbated bitcoin’s decline; they de-risked their investments ahead of the meeting. Although the market took a dovish stance after the meeting, BTC could not maintain the bullish momentum. The leading digital asset slumped below $109,000 on Monday.

Institutions Support ETH Momentum

While BTC struggled to stay bullish, ETH was on the rise, driven by persistent accumulation from Ethereum treasury companies. These entities have been absorbing a significant portion of the selling pressure on ETH, reducing downside risk. They have provided meaningful support, with their consistency helping Ethereum ETFs to outpace their Bitcoin counterparts.

Interestingly, the ETH treasury company Bitmine Immersion Technologies has overtaken MARA Holdings to become the second-largest digital asset treasury. MARA is a Bitcoin mining firm. Such developments underscore ether’s new role as a liquidity driver for institutional markets.

While this week’s price momentum for BTC and ETH hinges on inflows from institutions and treasury companies, Bitfinex urges traders to keep their expectations low. This is because historically, risk asset ETFs often witness a slowdown in positive flows towards the end of summer in August and September.

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Mandy Williams

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August 26, 2025
Bitcoin ETFs Hit $3-B Inflows, Retail Investors Lead The Charge

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Este artículo también está disponible en español.

Bitcoin ETFs ended last week on another positive note with $997.70 million in net inflows and demand reaching its highest level in six months. Undoubtedly, these ETFs have marked the turning point for Bitcoin and other cryptocurrencies since the beginning of the year, as it opened up the cryptocurrency to inflows from every side.

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Interestingly, data has shown that retail investors are responsible for most of the demand for Spot Bitcoin ETFs, accounting for 80% of the total assets under management.

Bitcoin ETFs Changing The Narrative

According to Bloomberg data, Bitcoin ETFs have dominated the ETF landscape in 2024, claiming the top four positions for inflows among all ETFs launched this year. Specifically, out of the 575 ETFs introduced thus far, 14 of the top 30 are new funds focusing on Bitcoin or Ethereum. The standout performer is the BlackRock IBIT fund, which has attracted over $23 billion in year-to-date inflows.

Last week was another example of the positive performance in Spot Bitcoin ETFs, despite the coin’s consolidation below the $68,000 price level. According to flow data from SosoValue, weekly inflows started on a positive note on Monday, October 21, with $294.29 million entering the funds and ended the week with $402.08 million in inflows on Friday, October 25.

Interestingly, Spot Bitcoin ETFs now hold about 938,700 BTC in 10 months since launch and are steadily approaching the 1 million BTC mark. Although these ETFs have opened doors for institutional investors, a recent report from crypto exchange Binance indicates that retail investors are the primary drivers of this surge in demand, accounting for 80% of the holdings in Spot BTC ETFs.

Originally intended to provide institutional investors access to BTC, Spot Bitcoin ETFs have now become the preferred choice for many individual investors looking to take advantage of the regulatory clarity they offer. Nonetheless, there has been a steady demand from the institutional side, with institutional holdings rising by 30% since Q1.

BTCUSD is currently trading at $66,720. Chart: TradingView

Among institutional investors, investment advisers have emerged as the fastest-growing party, with their holdings increasing by 44.2% to reach 71,800 BTC this quarter.

What’s Next For Spot Bitcoin ETFs?

Thanks to the rapid growth of Bitcoin exchange-traded funds, an impressive 1,179 institutions, including financial giants such as Morgan Stanley and Goldman Sachs, have joined the crypto’s cap table in less than a year. For comparison, Gold ETFs were only able to attract 95 institutions in their first year of trading.

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This upward trajectory of institutional investments in Bitcoin is poised to continue into the foreseeable future, which bodes well for the overall price outlook of Bitcoin. As these ETFs attract more institutional capital, they are likely to produce second-order effects like increased BTC dominance, improved market efficiency, and reduced volatility that could significantly benefit the cryptocurrency ecosystem.

At the time of writing, Bitcoin is trading at $67,100.

Featured image from Reuters, chart from TradingView

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Scott Matherson

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October 27, 2024
Bitcoin ETF Inflow Streak Breaks With Nearly $80 Million Outflows

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The recent increase in the appeal of spot Bitcoin exchange-traded funds (ETFs) in the United States has temporarily ceased.

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On Tuesday, these funds underwent a reversal, resulting in net outflows of $79.01 million, following an extraordinary seven-day streak of positive inflows. Farside Investors are the source of this data, a company that specializes in the analysis of ETF flows.

A Brief Obstacle

The $79 million outflow represents a significant shift in sentiment among investors who had previously demonstrated a strong interest in Bitcoin ETFs. Over the span of two days last week, the market attracted around $1 billion in inflows, implying a robust demand for these financial products.

The main cause of this negative change was Ark and 21Shared’s ARKB, which resulted in a substantial $134.7 million outflow.

Source: Farside Investors

BlackRock’s IBIT, the best-performing bitcoin ETF by net assets, drew $43 million. Fidelity’s FBTC and VanEck’s HODL, which received $8.8 million and $3.8 million, respectively, also helped. There were no new flows on the remaining eight funds, including Grayscаle’s GBTC, during the day.

Nevertheless, Bitcoin ETFs could bring in more than $21 billion to date. This number clearly signifies the rising use of Bitcoin as a new asset class and it is only going to see more hedge funds take larger positions.

US-traded spot Bitcoin ETFs have also seen significant interest from institutional investors, with 20% of the market owned by them as of October 22.

Institutional ownership of U.S. #Bitcoin Spot ETFs is around 20%, with asset managers holding 193K BTC (per Form 13F filings). pic.twitter.com/9YTOEH3G5w

— Ki Young Ju (@ki_young_ju) October 22, 2024

Institutional Demand Is Still Strong

Regardless, while the latest ETF flow swings have been significant in themselves, they can not distract from what is an ongoing push towards institutional Bitcoin adoption. Among the main companies who have made large investments in these funds are Goldman Sachs and Millennium Management.

The SEC’s approval of options trading on 11 Bitcoin ETFs will help investors manage their Bitcoin exposure, boosting interest.

Through more efficient position hedging made possible by options trading, investors can help to steady the market and lower volatility over time. Analysts argue that this would draw more institutional money to the industry, therefore supporting Bitcoin’s reputation as a credible investment tool.

BTCUSD trading at $67,156 on the daily chart: TradingView.com

Bitcoin ETF: Looking Ahead

Although outflows may cause concern, many analysts are positive about Bitcoin ETFs. Options trading’s SEC approval is a turning point that could improve market efficiency and liquidity.

More institutional players coming into the space are likely to change the dynamics. The current pause in inflows could be a temporary phenomenon only; investors are repositioning their strategies given the shift in market conditions.

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The outlook for spot Bitcoin ETFs, looking into the long term, appears quite positive with the current uptick in adoption from the institutional space and trading of Bitcoin at or near three-month highs.

The recent outflows from spot Bitcoin ETFs may indicate a temporary setback; however, the prevailing trend of heightened institutional interest and regulatory support indicates that this asset class is here to stay. Investors will be intently monitoring the rapid evolution of this market for any new developments.

Featured image from The Rio Times, chart from TradingView

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Christian Encila

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October 24, 2024
Crypto Investment Products See Record $2.2 Billion Inflows—Is The Bull Run Here?

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The latest weekly digital asset fund flow report from CoinShares has revealed that last week, crypto asset investment products saw roughly $2.2 billion in net inflows globally, marking the largest inflow since July.

This rise in inflows comes amid the gradual recovery of top crypto assets last week, with the majority now reclaiming major highs and registering nearly double-digit gains over the past 7 days.

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Who Led the Charge?

Bitcoin-based products were the standout beneficiaries of last week’s inflows. US spot Bitcoin exchange-traded funds (ETFs) added $2.1 billion, with BlackRock’s IBIT ETF alone generating over $1.1 billion.

The cumulative inflows for these Bitcoin ETFs, which began trading in January, now stand at $21 billion. These funds have grown to manage a record $66 billion in assets under management, highlighting their significant role in the market.

BTC price is moving upwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

Notably, the renewed confidence in Bitcoin products mirrors earlier this year’s positive sentiment. Last week’s inflows were the largest since March, when US spot Bitcoin ETFs saw $2.6 billion as Bitcoin reached its all-time high above the $73,000 price mark.

This strong demand suggests that investors remain bullish on Bitcoin’s long-term prospects, despite recent market fluctuations. While Bitcoin stole the spotlight, other cryptocurrencies also experienced inflows last week although way lesser than that of BTC.

Crypto asset fund flows.

Ethereum-based products attracted $58 million in net inflows, while Solana, Litecoin, and XRP-based funds saw smaller inflows of $2.4 million, $1.7 million, and $700,000, respectively.

However, multi-asset investment products did not fare well, experiencing net outflows of $5.3 million, ending a 17-week streak of consecutive inflows.

What Prompted The Surge In Crypto Inflow?

According to CoinShares, this surge in inflows is tied to growing optimism about the upcoming US elections, with a potential Republican victory driving investor sentiment.

Many believe that a Republican administration would favor the digital asset market more favorably, leading to an increase in investor confidence and positive price momentum. James Butterfill, Head of Research at CoinShares, particularly noted:

We believe this renewed optimism stems from growing expectations of a Republican victory in the upcoming US elections, as they are generally viewed as more supportive of digital assets.

Notably, Butterfill, reiterated these views, adding that trading volume for these investment products surged by 30% last week. Total assets under management (AUM) for crypto funds are now nearing the $100 billion mark on a global scale, highlighting the substantial interest in digital assets.

Related Reading

However, while US-based funds thrived, investment products in other countries such as Canada, Sweden, and Switzerland experienced net outflows, indicating a more polarized global market.

Crypto asset fund flows by region.

Featured image created with DALL-E, Chart from TradingView

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Samuel Edyme

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October 21, 2024
Bitcoin, Ethereum ETF Recap: What Was US Investors’ Strategy During Fed’s Rate-Cut Week?

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It was a big week for financial markets and the global economy as the central bank of the world’s strongest economy pivoted from its monetary policy and reduced the key interest rates by 0.5%.

As such, it’s worth reviewing how local investors behaved when it comes down to their interactions with spot Bitcoin and Ethereum ETFs.

BTC ETFs on the Inflow Side

CryptoPotato reported on Wednesday that US investors were on a shopping spree for the spot Bitcoin ETFs. In the four trading days leading to the FOMC meeting, the net inflows to the 11 financial vehicles were just over $500 million.

Their behavior changed on the day of the rate cuts as the numbers turned red, with $52.7 million in net outflows. However, they reversed their strategy once again on Thursday and Friday, with $158.3 million and $92 million in net inflows, respectively.

On a weekly scale, this means that there were more withdrawals only on Wednesday. Overall, the total net inflows for the week stood at $397.2 million.

What’s particularly interesting about the past few weeks is the lack of actual interest in the largest Bitcoin ETF – BlackRock’s IBIT. It has seen only one day of positive flows since August 26, which occurred on September 15. There have been two days of net outflows within the same timeframe, while all other trading days saw no reportable action, according to FarSide.

In contrast, Fidelity’s FBTC has attracted impressive amounts on September 17 ($56.6 million), September 19 ($49.9 million), and September 20 (26.1 million). Ark Invest’s ARKB and Bitwise’s BITB have also seen impressive flows in the past few weeks.

Ethereum ETFs See Positive Streak

The spot Ethereum ETFs have failed to attract investors’ attention in the two months they have traded on US exchanges. However, there have been some minor positive signs in the past couple of days.

FarSide shows two consecutive days of net inflows – $5.2 million on Thursday and $2.9 million on Friday. Nevertheless, these numbers are still quite insignificant and the overall weekly figure is in the red.

The net outflows stood at $9.4 million on Monday, $15.1 million on Tuesday, and $9.8 million on Wednesday. As such, the Fed’s rate-cut week ended with $26.2 million in net outflows for the Ethereum ETFs.

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Jordan Lyanchev

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September 21, 2024
Majority of Institutional Investors Held or Increased Bitcoin ETF Positions in Q2

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Bitwise reports that U.S.-based institutional investors continue to demonstrate strong support for Bitcoin through spot ETFs, with around 66% either maintaining or increasing their holdings.

This trend comes amidst market volatility and declining prices during Q2.

Surge in Institutional Filings

Bitwise’s chief investment officer, Matt Hougan, highlighted this trend in an August 15 post on X, noting a rise in the number of filings associated with spot Bitcoin ETFs.

“The institutions are still coming; total filings are up,” Hougan commented, referring to the 1,924 holder-to-ETF pairings recorded across all Bitcoin funds during Q2. This marks a 30% increase from the 1,479 pairings reported in Q1.

Although these figures reflect some overlap due to individual institutions holding positions in multiple ETFs, the consistent growth in filings indicates a rise in such participation.

Hougan’s analysis suggests that these investors are not easily shaken by market downturns. Of the institutions that had invested in spot Bitcoin ETFs during Q1, 44% increased their holdings in Q2, while 22% maintained their positions. Meanwhile, only 21% reduced their exposure, and 13% exited entirely.

“If you thought institutional investors would panic at the first sign of volatility, the data suggest otherwise,” said Hougan.

Hedge funds continue to be significant players in the spot Bitcoin ETF market, with major names like Millennium, Schonfeld, Boothbay, and Capula prominently featured among top holders.

However, the filings also reveal a diverse range of investors, including advisors, family offices, and select institutional investors, all contributing to the increasing adoption of spot Bitcoin ETFs.

“ETFs are a big tent that attract a wide variety of investors. It’s kind of great to see Millennium nestled up against the State of Wisconsin in these ETF filings,” Hougan remarked.

Looking ahead, Hougan expressed hope that wealth managers and pension funds will represent an increasingly larger share of this market.

Major Institutional Investors’ Holdings

Meanwhile, the Q2 filings also revealed that some of the world’s largest financial institutions are expanding their exposure to spot Bitcoin ETFs.

Morgan Stanley reported holding over 5.5 million shares of the iShares Bitcoin Trust (IBIT), valued at $188 million. This position secures the investment banking company a spot among the top five fundholders of IBIT.

Its filings also disclosed smaller investments in a range of other Bitcoin-related ETFs, including the Valkyrie ETF Trust, Fidelity Wise Origin Bitcoin Fund (FBTC), and Bitwise’s spot Bitcoin ETF.

Similarly, Goldman Sachs reported substantial holdings in spot Bitcoin ETFs, with more than $238 million invested in shares of IBIT and other funds.

Goldman’s portfolio includes nearly 7 million shares of the iShares Bitcoin Trust and significant positions in the Fidelity Wise Origin Bitcoin ETF and Invesco Galaxy spot Bitcoin ETF.

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Wayne Jones

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August 15, 2024
Weekly ETF Recap: Here’s What Kind of Action the Bitcoin, Ethereum ETFs Saw

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Another week went by, which began with massive volatility, and the spot Bitcoin and Ethereum ETFs were once again in the spotlight.

Here’s the data regarding the inflows and outflows for the past five days, according to Farside.

Bitcoin ETFs in the Red

Last week ended on a highly negative point as the spot Bitcoin ETFs registered their worst day in terms of flows in about three months, with nearly $240 million leaving the eleven funds. The start of the new week was not all that promising, as $168.4 million was withdrawn from the ETFs. Grayscale’s GBTC led the front with $69.1 million, followed closely by Ark Invest’s ARKB ($69 million) and Fidelity’s FBTC ($58 million).

Tuesday was in the red as well, with $148.6 million worth of outflows. This time, FBTC was at the forefront ($64.5 million), while GBTC was second with $32.2 million. Interestingly, BlackRock’s IBIT saw zero action during these two days.

It wasn’t until Wednesday that IBIT notched inflows of $52.5 million and even more ($157.6 million) on Thursday. Those were the only two positive days of the week, with $45.1 million entering on Wednesday and $194.6 million on Thursday.

The outflows were back on Friday with $89.7 million. Grayscale had the lion’s share with $77 million. In total, the spot Bitcoin ETFs saw outflows of $167 million for the week.

At the same time, BTC’s price tumbled below $50,000 during the market-wide crash on Monday but shot above $60,000 by the end of the week despite the growing outflows.

Ethereum ETFs With Minor Inflows

Ever since their launch on July 23, the spot Ethereum ETFs have not enjoyed substantial demand from investors. The past week was a bit more positive, however.

Monday and Tuesday began with inflows of $48.8 million and $98.4 million (second-best day), respectively. BlackRock’s ETHA led the pack with $47.1 million and $109.9 million.

Although the landscape changed until the end of the week, and investors pulled $23.7 million on Wednesday, $2.9 million on Thursday, and $15.8 million on Friday, the overall numbers for the week were actually in the green. This became the first week that has seen positive flows of almost $105 million for the Ethereum ETFs.

ETH’s price also tanked on Monday to $2,100 but bounced off in the following days to $2,700 on Friday and just over $2,600 today.

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Jordan Lyanchev

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August 10, 2024
Bitcoin Quiet Buildup: Analyst Predicts Major Inflows Yet to Come—Here’s Why

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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Samuel Edyme

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July 26, 2024
Bitcoin ETFs Saw $300 Million in Daily Net Inflows, No Outflows Recorded

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The US spot Bitcoin ETFs recorded a daily net inflow of $301 million on July 15th. This extended their winning streak to seven consecutive days amidst a broader market recovery.

None of the ETFs recorded outflows for the day.

Bitcoin ETFs Rake in $16.11B in Net Inflows Since Jan

According to the data compiled by SoSoValue, BlackRock’s IBIT, the top spot Bitcoin ETF by net asset value, recorded the largest net inflows of the day at $117.25 million. IBIT was also the most actively traded Bitcoin ETF on Monday, with a volume of $1.24 billion. Ark Invest and 21Shares’ ARKB came in close behind with net inflows of $117.19 million.

Fidelity’s FBTC experienced net inflows of $36.15 million on Monday, while Bitwise’s BITB saw $15.24 million in inflows. VanEck’s HODL, Invesco and Galaxy Digital’s BTCO, and Franklin Templeton’s EZBC funds also recorded net inflows. Meanwhile, Grayscale’s GBTC and other ETFs, such as Valkyrie’s BRRR, WisdomTree’s BTCW, and Hashdex’s DEFI, registered no flows for the day.

A total of $2.26 billion was traded on Monday. The trading volume for these ETFs was less than in March when it exceeded $8 billion on some days. Meanwhile, these funds have collectively attracted $16.11 billion in net inflow since their January launch.

What’s Next For Bitcoin?

Earlier this month, bitcoin’s price decline was mainly due to fears of massive selling pressure from Mt. Gox and the German government’s BTC sales.

But the assassination attempt on pro-crypto former US President and presumptive Republican candidate Donald Trump at Saturday’s rally seemed to spark a recovery in the world’s largest digital asset, and experts are bullish on the asset’s price trajectory going forward. Bitcoin surged more than 9% over the past week and was currently trading slightly below $64,000.

Veteran trader Peter Brandt discussed bitcoin’s price outlook, suggesting a potential major rally. He referred to a pattern he terms “Hump->Slump->Bump->Dump->Pump” and highlighted that the July 5 double top attempt was a bear trap, confirmed by the July 13 close. He sees a likely continued upward trend but warned that a close below $56,000 would negate this bullish view.

“Bitcoin $BTC could be unfolding its often-repeated Hump…Slump…Bump…Dump…Pump chart construction. Jul 5 attempt at the double top was a bear trap, confirmed by Jul 13 close. Most likely scenario now is that bears are trapped. Close below $56k negates this interpretation”

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Chayanika Deka

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July 16, 2024
Declining Bitcoin Open Interest on CME Suggests Further Pain for BTC Price: Bitfinex

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Bitcoin (BTC) has continued its downtrend, reaching new local lows of under $59,000. During the mid-hours of the United States Monday trading session, BTC briefly fell below $60,000 to register a new local low of $58,500.

This slump has persisted as outflows from the U.S. spot Bitcoin exchange-traded fund (ETF) market have continued into the new week.

The latest weekly report from the crypto exchange Bitfinex revealed that U.S. spot Bitcoin ETFs lost over $100 million each trading day last week, amounting to $544.1 million in collective outflows. Analysts at the trading platform said the outflows are a combination of weak-handed ETF investors reacting to short-term negative news and basis/funding arbitrage unwinding due to negative funding rates.

Bitcoin Open Interest Declines

According to Bitfinex, one of the signs of the unwinding of basis/funding arbitrage is the steep decline in Bitcoin futures open interest on the Chicago Mercantile Exchange (CME) and other trading platforms.

The open interest on the CME fell by $220 million in the past week, with the overall aggregate open interest across other platforms slumping by more than $450 million within the same timeframe. The plunge has brought the total Bitcoin futures open interest down from the June 7 record high of $36.99 billion to $33.3 billion.

“This reduction in OI coincides with negative funding rates observed across several exchanges over the past week and corresponds with the ETF net outflows, suggesting a substantial unwinding of the funding arbitrage trades linked to ETF flows. Given this, it is important to acknowledge that not all ETF outflows should be interpreted as direct spot selling,” stated analysts.

Bitcoin Could be Nearing Its Bottom

Citing the last Bitfinex Alpha report, analysts predicted that BTC could be nearing its bottom, as heavy ETF outflows, like those being seen, often correlate with the formation of local bottoms.

When BTC dropped below $70,000 in early June, U.S. spot Bitcoin ETFs recorded seven consecutive days of net outflows, highlighting the effect of sharp price movements on ETF investors’ sentiment.

“This pattern is critical for investors to monitor as it often provides clues to potential reversals or stabilization points within the market,” analysts noted.

Meanwhile, Bitfinex analysts have warned that market sentiment remains bearish, as there is a weakness in the lower timeframe range (one-minute to 15-minute charts) across crypto assets.

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Mandy Williams

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June 24, 2024
Financial Advisors Wary of Investing in Spot Bitcoin ETFs, BlackRock Exec Says

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BlackRock’s chief investment officer for index investments, Samara Cohen, recently implied that amidst the recent success of spot Bitcoin exchange-traded funds, financial investors still exercise some degree of caution when investing.

The volatility and infancy of Bitcoin and related exchange-traded funds are the primary drivers behind this investment class’s slow adoption.

Financial Advisors Are Cautious

Since their debut in January 2024, spot Bitcoin ETFs have attracted massive investments from loads of individual and institutional investors, with the investment vehicle recording over $15 billion in inflows. However, according to Samara Cohen, this fast-moving investment vehicle has yet to convince financial advisors.

Cohen mentioned that according to last quarter’s 13-F filings, brokerages and hedge funds have been key participants and buyers in spot Bitcoin ETFs.

Speaking at the Coinbase State of Crypto Summit in New York City on Thursday, she noted that approximately 80% of Bitcoin ETF purchases are made by self-directed investors using online brokerage accounts. However, registered financial advisors have remained skeptical, with Cohen describing their stance as “wary.”

She believes financial advisors only do their job by expressing skepticism before investing. She stated:

“An investment advisor is a fiduciary to their clients. This is an asset class that has had 90% price volatility at times in history, and their job is really to construct portfolios and do the risk analysis and due diligence. They’re doing that right now.”

Owing to the volatile nature of cryptocurrencies, Cohen believes financial advisors must keenly analyze data and check for risks before deciding on appropriate investment exposure based on an investor’s risk tolerance.

Blue Macellari, the head of digital assets strategy for T. Rowe Price, shows that many see 1% as safe and comfortable exposure. Another speaker, Alesia Haas, the Chief Financial Officer of Coinbase, also noted that Bitcoin is “on a slow journey of adoption.”

Volatility, Infancy, and Regulatory Uncertainty

According to Cohen, the inherent volatility of Bitcoin, which has experienced significant value fluctuations since its inception, is a primary reason for the skepticism displayed by financial advisors. Additionally, spot Bitcoin ETFs are still in their early stages, lacking a track record, further contributing to the advisors’ cautious stance.

The challenging regulatory environment has also been a discouraging factor, as regulators seemingly target crypto projects.

Despite all the drawbacks, Cohen maintains that Bitcoin ETFs can bridge the significant gap between cryptocurrency and traditional finance, especially for investors with fear of exposure to risks.

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Wayne Jones

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June 17, 2024
BTC Price Came 3% Away From Charting New ATH as Bitcoin ETF Inflow Streak Equals Record

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After a relatively quiet and sluggish weekend, bitcoin’s price started moving north once again at the start of the business week and kept rising until it popped to $71,767 (on Bitstamp) yesterday evening.

This came amid the growing inflows toward most US-based spot Bitcoin ETFs, as yesterday saw nearly $500 million being poured in. Even Grayscale’s GBTC saw positive flows.

What’s even more impressive about the amount of USD going into the largest US spot BTC ETFs is the streak they have been on.

The last time there were outflows from these financial vehicles was nearly a month ago – on May 10. Since then, there have been very few occasional outflows from certain ETFs, like $100 million being taken out of Ark Invest’s ARKB on May 30, but the overall numbers have not been in the red.

Thus, the positive streak of consecutive inflow days has risen to 16, which equals the previous record set in February. As reported recently, June 4 saw the second-biggest day of inflows ($886.6 million), while the number for yesterday was $488.1 million.

Fidelity’s FBTC was once again in the lead, raking in more than $220 million. BlackRock’s IBIT followed suit with $155.4 million, and even Grayscale’s GBTC, which has seen the most substantial outflows ever since its conversion, gathered $14.6 million.

These positive numbers were perhaps the main source fueling another price rally for the underlying asset. BTC had dipped to around $69,000 on June 4 but started gaining traction once again yesterday and soared to a 15-day peak of $71,767 (Bitstamp).

As such, bitcoin came less than 3% away from its all-time high set on March 14 ($73,737). Despite losing around a grand since then, the crypto community believes charting a fresh peak is a matter of when and not if.

Bitcoin/Price/Chart 06.06.2024. Source: TradingView

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Jordan Lyanchev

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June 5, 2024
Parabolic Rally In The Making? Bitcoin Regains $70,000 As Traders’ Paper Profits Collapse To 3%

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The world’s largest cryptocurrency, Bitcoin (BTC), has been consolidating over the past week, trading between $67,000 and $70,000 after experiencing a brief 20% price correction that sent it as low as $56,400 in early May.

This consolidation period comes as inflows into the US spot Bitcoin ETF market have reignited, and selling pressure appears to have cooled off, both in the ETF market and among Bitcoin investors more broadly.

Bitcoin Selling Pressure Fades

According to Julio Moreno, head of research at on-chain market analytics firm CryptoQuant, the current Bitcoin price level of $70,000 differs from when it last reached that mark in March.

Moreno notes that traders are now exerting much lower selling pressure, as unrealized profits are only around 3%, compared to 69% in early March. This suggests that much of the “heavy selling” has been exhausted, as seen in the chart below.

Related Reading

Unrealized gains for BTC holders are only 3%. Source: Julio Moreno on X

Santiment data also shows that Bitcoin has once again eclipsed a $70,000 market capitalization, even as the US stock market took a hiatus for the Memorial Day holiday.

Market intelligence platform Santiment sees this as an encouraging sign, as it demonstrates BTC’s ability to perform positively on days when it is not closely correlated with the primary stock market, which has been the case for much of 2022.

Final Pre-Breakout Consolidation Phase

Despite this positive momentum, crypto analyst Rekt Capital has noted that Bitcoin’s latest weekly candle closed below the range high resistance of its ongoing “re-accumulation” phase, which spans roughly $60,000 to $70,000.

This likely sentences the leading cryptocurrency to further consolidation within this range, aligned with Rekt Capital’s thesis that two phases remain in the current bull cycle: the post-halving re-accumulation phase and the “parabolic rally phase.”

Historically, Bitcoin has tended to consolidate around all-time highs before embarking on the most illustrative stretch of its bull cycles. According to the analyst, Bitcoin has indeed been consolidating at these highs for quite some time now, especially by the standards of previous cycles.

While there is still room for further sideways trading at these elevated price levels, the time remaining in this phase is slowly running out. This leads to the belief that the long-awaited post-Halving rally, coupled with renewed investor sentiment, is poised to take the largest cryptocurrency on the market to even higher levels than the current $73,700 reached in mid-March.

Related Reading

As such, Bitcoin appears to be entering a critical juncture in its current bull cycle. The consolidation and re-accumulation that has dominated the market in recent months could soon give way to the next parabolic surge, should historical patterns hold.

The 1-D chart shows BTC’s price consolidation. Source: BTCUSD on TradingView.com

As of now, BTC has gained 2% in the past 24 hours, adding to its 10% positive movement in the past month alone. Bitcoin is currently trading at $70,200.

Featured image from Shutterstock, chart from TradingView.com

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Ronaldo Marquez

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May 27, 2024