Record close for VanEck Gold Miners ETF $GDX on weekly basis, taking out the 2011 high.
Source: NDR, Rob Anderson on X
The "buy the dip" mentality is intact.
$ARKK Cathie Wood's ARK Innovation fund $ARKK saw its largest ever single day of inflows on Friday. Source: Koyfin
Investors have now plowed $139 Billion into Leveraged ETFs, the highest amount in history 🤯 Risk on folks, Risk on 🤑🫡🚀 🤢
Source: Barchart
LOOK OUT: $ETHA iShares ethereum Trust ETF just hit $10b in one year flat, the 3rd fastest ETF to hit that mark in history after (you guessed it) two bitcoin ETFs $IBIT & $FBTC.
Amazingly it went from $5b to $10b in just 10 days. The ETF is Top 5 in flows for the last month and the week Source: Bloomberg, Eric Balchunas
JUST IN:
Fidelity’s Bitcoin ETF has amended its trust agreement to allow in-kind creations and redemptions, meaning shares can be created or redeemed using bitcoin instead of cash, pending regulatory approval. Source: @BitcoinNewsCom
Ether ETFs saw $534 million in inflows on Tuesday, the 4th largest on record.
BlackRock alone bought $426 million. That’s now 13 straight days of inflows, totaling over $4 BILLION. Investors including Wall Street are going ALL IN on cryptos. Source: Global Markets Investor
The ARK Innovation ETF is up 37% this year.
The SP500 is only up 7%. Meanwhile, over the past 12 months, the S&P500 is up 14%. ARKK is up 60%. The short interest in ARKK right now is the highest it's ever been. Source: J-C Parets, Trendlabs
Bitcoin ETF Flows are still 2x the flows from MSTR and other Bitcoin Treasury companies.
If nothing changes, these together will generate $50 billion in new demand for BTC (without taking into account new bitcoin treasury companies being created, sovereign demand, new institutional demand, etc.) We now the supply variable in the equation. What we do NOT know is how much the whales will offload their bitcoin as the price keeps moving higher. But net net it looks like the supply-demand context remains rather favourable... Source chart: Fred Krueger
