BTC INFLOWS UPDATE .....7 Feb 2024 16:36
.... the II's are cranking the engine up ....
....Remember when the big boys are involved , we always go through the 4 stage cycle ... Accumulation, Expansion , Distribution , Contraction .... thats how they manage it all !
Bitcoin ETFs experience $697m net inflows last week
For the first time since the BTC ETF approvals, we are beginning to see the cumulative return by session turn consistently positive for US hours. This can be attributed to the reduction in outflows from Grayscale that dominated the initial weeks of trading post ETF approval.
Last week marked a reduction in BTC outflows from Grayscale, following the $2.2 billion outflows from January 29th to February 2nd. The recent figures show a decrease of nearly $1.3 billion, bringing the total outflows to $928 million. Leading the inflows was Blackrock’s IBIT with $883 million, while Fidelity followed in second with $555 million.
The Bitcoin investment landscape is shifting positively post-SEC’s ETF approval, with the new Portfolios poised to benefit amidst reduced Grayscale outflows and growing investor confidence in BTC as an investable asset class.