Senior ETF Analyst for @Bloomberg. Dad. Rutgers grad. Gen X-er. Author of "The Institutional ETF Toolbox" & "The Bogle Effect.” Co-host of Trillions & ETF IQ.
FIXING A HOLE: Bitcoin ETFs' YTD flows are now positive after a $4.6b tsunami of cash came in over the past month ever since Bessent said it would increase bond buying which reminded everyone that the train has no brake pedal, only gas. Chart, story via @sidcoins https://t.co/kHsdVnvq6g
View original →Bitcoin ETFs with +$1b in flows, biggest one day flow haul since the good old days of last Oct. $IBIT led w $381m (4th overall) while $ARKB & $FBTC had over $200m each, but all of the Big Six contributed. Also keep in mind these flows are prob mostly from Fri's action not yest, so look for more tonight.
View original →I get the ethics concerns (esp the personalized coins) but from my POV it seemed like the crypto industry tried its butt off on this but in the end partisan bs killed it. They didn't choke they got sandbagged. The fact is 90% of the media just loves to pile on/troll crypto whenever it can (was always this way but esp now w this admin embracing it), which in a general sense is odd to me given the cencorship and debasement-resistence bitcoin offers, esp in poorer countries, you'd think it would appeal to progressives in media. 🤷♂️
View original →$IBIT having one those days.. 5th in overall ETF volume with its BFF (Best Frenemy Forever) $GLD in 9th spot (normally GLD has higher rank, prob btc price up more today). Btw the Top 10 is a perfect snapshot of this year: VOO & Chill + AI Mania + Debasement Trade https://t.co/gXW5A4rlsz
View original →Yes. Here’s why: 1) btc leans younger, gold older 2) it will get used more by big money as it matures and settles down w both vol and corr 3) way more enthusiasm and sales firepower. no one is out there talking about gold ETFs but you got dozens of wholesalers (fluent in both crypto and boomer) out there educating on btc ETFs.
View original →Nice look at the most important chart for bitcoin ETFs which is cumulative net flows lifetime which are curr at $55b, down from peak of $63b but up from low of $50b. Again, incredible intestinal fortitude from the Boomers given they saw a 50% drawdown. Stocks being up during that time prob helped but still.. via @JSeyff *the reason this is most imp chart is bc it is excludes price appreciation so it's pure measure of investor interest vs assets which bake in price
View original →"The renewed demand began gathering pace in August after Treasury Secretary Scott Bessent signaled increased purchases of longer-dated government bonds, a development some market participants interpreted as evidence of mounting pressure in long-duration debt markets. Bitcoin has risen about 35% since then, climbing from roughly $64,100 to above $85,000, while the ETFs absorbed about $4.6 billion over the same period."
"Bitcoin's poor performance is likely due to early investors cashing out to take profits after many years of holding, a 'silent IPO,' with one example being an investor who sold over $9 billion in BTC in July after holding it for more than a decade."
"This tracks with the stickiness of the assets. The boomers are not tourists. Which is smart IMO. If you're going to buy BTC, data shows you should commit to at least a four-year holding period, like a self-imposed lock-up period."
