State Fund added China ETFs to lift sentiment during rout
According to Bloomberg, China’s sovereign wealth fund has “likely bought at least USD 43 bn of onshore exchange-traded funds in the first quarter” vs. USD 6.8 bn in the second half of 2023. The extent of the buying provides insight into the government willingness to stabilize the markets during challenging periods.
New Stock ETFs will offer the potential for capped upside gains with 100% downside protection.
Source: Barchart
Hedge funds increased ETF short positions by largest amount in 20 months according to Goldman Sachs
Source: barchart
Gold rallied strongly again yesterday, disregarding entirely the significant reversal seen on Friday.
Meanwhile, the $GLD ETF is still facing significant outflows on a 2-year basis of nearly 45%. Source: Tavi Costa, Bloomberg
Bitcoin ETFs now sit at nearly $60 Billion in assets.
To put that into perspective, GLD, which is the largest gold ETF, has a total AUM of $62 billion. Source: Bloomberg
The first ever 2x and -2x spot bitcoin ETFs hit the market yesterday from ProShares.
$BITU and $SBIT (tickers could have been better). $BITX is 2x but it tracks futures and $BITI is -1x but is also futures. Fee 95bps on both. Haven't traded too much so far, under $1m. Source: Eric Balchunas, Bloomberg
The S&P 500 Energy ETF $XLE just formed a Golden Cross right as it hit a 1-year high
Source: Barchart
Here is the final daily breakdown of bitcoin etfs flows YESTERDAY
in a day when GBTC saw record liquidations (to meet bankruptcy obligations of Genesis and others) and when bitcoin tumbled, Blackrock's IBIT saw a surge of inflows. ETF demand still looks quite strong. Source: www.zerohedge.com
