Bitcoin
All US Bitcoin ETFs See Daily Inflows for the First Time
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Every Bitcoin spot ETF in the US records inflows for the first time
Bloomberg ETF analyst Eric Balchunas pointed out that boomers are better at holding their ETF shares than native crypto investors.
All spot Bitcoin exchange-traded funds (ETFs) in the US recorded positive net flows on March 6, according to Bloomberg ETF analyst Eric Balchunas. He shared in X that this is the first time in daily netflows.
Furthermore, Balchunas said that more than 95% of ETF investors held on to their shares during “what was a pretty nasty and persistent recession.”
“As we said, outflows will happen as will inflows, but over time two things tend to be true for ETFs: net growth and relatively strong hands,” the Bloomberg analyst added.
For the first time, 1D flows all green, no red for Bitcoin Bunch. I’m not going to pump up the football like some did during the exit period, but I will point out that over 95% of investors in ETFs HOLD-ed during what was a pretty nasty and persistent recession. The same will happen next… pic.twitter.com/3l3uwwmqGy
-Éric Balchunas (@EricBalchunas) May 6, 2024
Balchunas also shared when replying to one of the comments that from what he has seen so far, boomers are better holders than crypto natives. “This is a small allocation of hot sauce for an audience of 60 to 40 people, not your ‘real portfolio.’ This helps them withstand volatility.”
Additionally, US spot Bitcoin ETFs added 4,412 BTC to their holdings, which equates to over $280 million, according to for user X Lookonchain. The largest Bitcoin additions were recorded by Fidelity’s FBTC and ARK Invest’s ARKB, with 1,574 BTC and 1,200 BTC in inflows, respectively.
Cumulatively, US Bitcoin ETFs hold more than $52 billion worth of Bitcoin or 821,736 BTC. Grayscale’s GBTC still leads the pack with 291,293 BTC at the time of writing, with BlackRock’s IBIT close at 274,029 BTC.
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