Bitcoin ETF

Bitcoin

Pine

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<p dir="ltr">According to Eric Balchunas, Bloomberg's senior ETF manager, investment advisory firm Pine Ridge Advisers has&nbsp;<a href="https://twitter.com/EricBalchunas/status/1790706581518082488">emerged</a> as yet another major holder of Bitcoin ETFs.&nbsp;</p>
<p dir="ltr">The firm has snapped up an impressive $205 million worth of shares of Bitcoin ETFs from such issuers as BlackRock's IBIT, Fidelity's IBIT, and Bitwise's BITB. Notably, the sum accounts for 23% of the total assets under management.&nbsp;</p>
<h2 id="more-than-100-million-worth-of-inflows">More than $100 million worth of inflows&nbsp;</h2>
<p dir="ltr">The ARK 21Shares Bitcoin ETF, which is known as ARKB, managed to record $133.1 million worth of inflows on Tuesday.&nbsp;</p>
<p dir="ltr">Fidelity's FBTC and the Invesco Galaxy Bitcoin ETF (BTCO) recorded relatively modest inflows ($8.1 and $5.5, respectively) Meanwhile, BlackRock's IBIT and Bitwise's BITB saw zero inflows yesterday.&nbsp;</p>
<p dir="ltr">However, after a brief period of inflows, Grayscale's GBTC once again recorded substantial outflows on Tuesday, losing more than $50 million.&nbsp;</p>
<h2 id="bitcoin-tops-65-000">Bitcoin tops $65,000&nbsp;</h2>
<p dir="ltr">The largest cryptocurrency is currently seeing signs of growing mainstream adoption. On Tuesday, the State of Wisconsin Investment Board (SWIB) revealed that it had bought almost $100 million worth of shares of BlackRock's IBIT. Such major banks as Edmond de Rothschild (Suisse) and Wells Fargo have also jumped on the Bitcoin bandwagon.&nbsp;</p>
<p dir="ltr">Earlier today, the Bitcoin price <a href="https://u.today/heres-why-bitcoin-btc-suddenly-surged-to-64000">managed</a> to top the $65,000 level after the most recent US CPI report that turned out to be in line with analysts' expectations.&nbsp;</p>
<p dir="ltr">The institutional adoption narrative and the expectations of multiple rate cuts are expected to be the main bullish catalysts this year.&nbsp;</p>

Another Big Bitcoin ETF Holder Just Rolled In

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