Last week $BTC spot ETF recorded net inflows of $853 million, of which BlackRock’s IBIT alone accounted for $693 million, or 81%.
Many people call this “institutional money entering the market.” I’d rather call it: one institution is buying, while everyone else is watching.
When the market’s main buying interest is concentrated in one fund, you need to know whose hand you’re holding—if that fund stops buying one day, who will take over?
By the way, a bucket of cold water: don’t get carried away just because it’s green for the week—Bitcoin ETFs are still cumulatively net outflows of about $4.5 billion this year. Fund flows reflect sentiment, not the direction of the price’s steering wheel.$BTC
Many people call this “institutional money entering the market.” I’d rather call it: one institution is buying, while everyone else is watching.
When the market’s main buying interest is concentrated in one fund, you need to know whose hand you’re holding—if that fund stops buying one day, who will take over?
By the way, a bucket of cold water: don’t get carried away just because it’s green for the week—Bitcoin ETFs are still cumulatively net outflows of about $4.5 billion this year. Fund flows reflect sentiment, not the direction of the price’s steering wheel.$BTC