Bitcoin ownership distribution
- Eric Balchunas
The Chinese government has gone "Full BoJ style", purchasing $45b of ETFs in the past 2 months to pump up market.
They already own like 1/5 of all equity ETFs. They moved to buying small caps because it moves stocks more. Purchases could reach $100b this year. Source: Bloomberg, Eric Balchunas
A great thread by The Kobeissi Letter ->
While everyone is focused on AI, China has taken electric vehicles (EVs) to a whole new level. China currently has 2.5 MILLION EV chargers compared to just 130,000 in the US. China has an EV charger for every 7 cars while the US has an EV charger for every 18 cars. Meanwhile, China's EV chargers provide 4 kilowatt per hour compared to 1 kilowatt per hours in the US. To put this into perspective, the energy difference is like powering 17 standard light bulbs in the US versus 67 bulbs in China. Is China the new leader of EV technology?
It took 4 years for MicroStrategy to buy 205,000 Bitcoin.
It took just a few months for BlackRock to buy 223,645 BTC for its spot Bitcoin ETF.
Is the semiconductors trade getting overcrowded?
VanEck Semiconductor ETF $SMH had the largest inflows in the history of the ETF yesterday, according to Goldman. Source: Markets & Mayhem
Active managers had less than 25% exposure to equities in late October when the S&P 500 was at 4,100.
Today their equity exposure has jumped to 104% (leveraged long) with the S&P 500 above 5,100. This is their highest exposure since November 2021. Source: Charlie Bilello
Money-market fund assets rose to a fresh record high on expectations short-term rates will remain elevated for longer.
Total assets rose to $6.108tn from $6.077tn the week prior. Source: HolgerZ, Bloomberg
Believe it or not oil is outperforming the NASDAQ this year
Source: Bloomberg
