BTC ETFs went from +$2.4b to +$241m in a week. cooling off…
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BTC ETFs went from +$2.4b to +$241m in a week. cooling off or just a breather?
was going through the farside ETF numbers this morning and something felt off
week of Sep 21: roughly +$2.4b in. and almost a billion of that was just monday
last week: about +$241m. still green on paper, but thats like a 10x drop. and Sep 30 was straight up red, around -$149m
the weird part is the split. IBIT still pulled in \~$450m last week, while fidelity's FBTC actually bled about -$168m. so it's not like everyone stopped buying, it's more like blackrock is carrying the whole thing right now
honestly not sure how to read it. part of me thinks its just quarter end stuff, funds rebalancing, and oct 1-2 did bounce back a bit. the other part of me remembers that a big chunk of the "number go up" story this year was literally just ETF demand
so whats your take, normal cooldown after a monster week or first sign the big buyers are getting tired?
#cryptocurrency
was going through the farside ETF numbers this morning and something felt off
week of Sep 21: roughly +$2.4b in. and almost a billion of that was just monday
last week: about +$241m. still green on paper, but thats like a 10x drop. and Sep 30 was straight up red, around -$149m
the weird part is the split. IBIT still pulled in \~$450m last week, while fidelity's FBTC actually bled about -$168m. so it's not like everyone stopped buying, it's more like blackrock is carrying the whole thing right now
honestly not sure how to read it. part of me thinks its just quarter end stuff, funds rebalancing, and oct 1-2 did bounce back a bit. the other part of me remembers that a big chunk of the "number go up" story this year was literally just ETF demand
so whats your take, normal cooldown after a monster week or first sign the big buyers are getting tired?
#cryptocurrency
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