#ETF Money Flows
At the beginning of the year, it was still seeing net outflows, but after August 19 it turned around to record inflows of about $4.6 billion.
According to Bloomberg, this year the cumulative net inflow into US-listed spot Bitcoin ETFs is about $320 million. Specifically, since August 19, when the US Treasury said it would increase long-term bond repurchases, inflows have amounted to about $4.6 billion, reversing the net outflows seen earlier in the year. Over the same period, Bitcoin rose by about 35% to above $86,000.
For those holding spot positions, the source of buy pressure is shifting from leverage to the creation/redemption channel. One point that can be falsified: if the ETF weekly data turns negative again afterward, the rebound logic supported by these liquidity flows will need to be reassessed.
$BTC $PENGU $SUPER
At the beginning of the year, it was still seeing net outflows, but after August 19 it turned around to record inflows of about $4.6 billion.
According to Bloomberg, this year the cumulative net inflow into US-listed spot Bitcoin ETFs is about $320 million. Specifically, since August 19, when the US Treasury said it would increase long-term bond repurchases, inflows have amounted to about $4.6 billion, reversing the net outflows seen earlier in the year. Over the same period, Bitcoin rose by about 35% to above $86,000.
For those holding spot positions, the source of buy pressure is shifting from leverage to the creation/redemption channel. One point that can be falsified: if the ETF weekly data turns negative again afterward, the rebound logic supported by these liquidity flows will need to be reassessed.
$BTC $PENGU $SUPER
