ProShares issued press release indicating it plans to launch 2x leveraged SpaceX ETF on *same day* as IPO.
Source: Nate Geraci
Crypto ETF outflows are MASSIVE
US Bitcoin ETFs posted net outflows of -$534 million in the most recent session, led by the ETF, $IBIT, at -$389 million. This extends a persistent trend of outflows over the last several weeks, with Bitcoin ETFs posting negative flows on the majority of trading days since early May. Overall, weekly crypto funds posted -$1.7 billion in outflows in the most recent week, in line with the highest weekly redemptions over the past year. In total, crypto funds saw over -$4 BILLION in outflows in just 3 weeks. Crypto market sentiment is deteriorating fast. Source: zerohedge, global markets investor
Vanguard S&P 500 $VOO becomes the first $1 trillion ETF in history
Source: Hedgeye, Bloomberg
BTC ETFs have seen massive outflows (10 of last 11 days)...
Source: zerohedge
Space ETF assets
Eric Balchunas, Bloomberg
The Psychedelics ETF $PSIL has destroyed its daily volume record in first 30min of trading...
Why ??? Trump just signed ex order expediting research/access to psyche drugs to cure depression. The sector has been in dog house, waiting for catalyst, up 10% today. Watch this space. Source: Eric Balchunas
+1300% in a year, easy to think the move is done.
But as Bloomberg highlights, the Breakwave Tanker Shipping ETF (BWET) reflects deeper forces. Even before the conflict: - Aging fleet - Tight capacity - Sanctions limiting supply ➡️ The war accelerated existing trends. Now the question isn’t how far it’s gone, but what’s changed. Structural tightness remains: - Longer, more complex trade routes - Sourcing shifting farther away - Rising demand for shipping capacity ➡️ That’s why gains may not fully unwind, even with peace. As John K. notes: the story may shift from war-driven to fundamentally driven. The fundamentals still point to persistence. Source. Bloomberg
Bitcoin ETF's cumulative net inflows peaked at +$63B in October. Today (after the "massive" outflows) it's +$53B. That's NET NET +$53B in only two years.
Initially, most predictions were for $5-15B in the first year. This is an important context to consider when looking/writing about the $8B in outflows since 45% decline and/or the relationship between $BTC and Wall street, which has been overwhelmingly positive. h/t @JSeyff
