Alex Dovnya
The list of major Bitcoin ETF holders keeps getting longer
Read U.TODAY
google news
According to Eric Balchunas, senior ETF manager at Bloomberg, investment advisory firm Pine Ridge Advisors. Appeared It became another major holder of the Bitcoin ETF.
The firm bought $205 million worth of Bitcoin ETF shares from issuers including BlackRock's IBIT, Fidelity's IBIT, and Bitwise's BITB. Notably, this total accounts for 23% of total assets under management.
Inflows of over $100 million
The ARK 21 Shares Bitcoin ETF, known as ARKB, managed to record $133.1 million worth of inflows on Tuesday.
Fidelity's FBTC and Invesco Galaxy Bitcoin ETF (BTCO) recorded relatively modest inflows ($8.1 and $5.5, respectively), while BlackRock's IBIT and Bitwise's BITB had zero inflows yesterday. .
However, after a short period of inflows, Grayscale's GBTC once again recorded heavy outflows on Tuesday, resulting in losses of more than $50 million.
Bitcoin surpasses $65,000
The largest cryptocurrency is now showing signs of gaining mainstream adoption. On Tuesday, the Wisconsin State Investment Board (SWIB) announced it had purchased approximately $100 million worth of BlackRock's IBIT stock. Major banks such as Edmond de Rothschild (Switzerland) and Wells Fargo are also jumping on the Bitcoin bandwagon.
Earlier today, Bitcoin price managed to breach the $65,000 level after the latest US CPI report turned out to be in line with analyst expectations.
The implementation story and expectations for multiple rate cuts are expected to be the main bullish factors this year.
About the author
Alex Dovnya
