A wave of optimism regarding potential United States regulatory adjustments has significantly bolstered trading volumes within Bitcoin institutional investment vehicles, including Exchange Traded Funds (ETFs). As data from various resources, including Bloomberg, displays a near-r...
A wave of optimism regarding potential United States regulatory adjustments has significantly bolstered trading volumes within Bitcoin institutional investment vehicles, including Exchange Traded Funds (ETFs). As data from various resources, including Bloomberg, displays a near-record weekly inflow into Bitcoin-related ETF.
Notable: $BITO traded $1.7b last week, 2nd biggest week since its wild WEEK ONE. $GBTC did $800m. That’s $2.5b (top 1% among ETFs) into two less desirable methods (vs spot) for exposure = while we think spot ETFs unlikely to set records on DAY ONE, clearly there’s an audience pic.twitter.com/6bFYtE0UoR— Eric Balchunas (@EricBalchunas) October 28, 2023
William Clemente, a co-founder of crypto research firm Reflexivity, echoed the sentiment of a reinvigorated market by describing the ETF trading activity as “back in full steam.” This resurgence in demand for institutional investment options is not confined to BITO and GBTC alone, but extends to other players in the market, reflecting a broader trend of growing institutional interest in Bitcoin and its derivative products.
Despite the upbeat market dynamics, investment management firm ARK Invest has trimmed its GBTC holdings in sync with the share price gains, albeit GBTC now represents a 10.24% share of its ARK Next Generation Internet ETF, marking the first alteration since November 2022.