‼️ Public companies bought more bitcoin than ETFs did for the third quarter in a row
▶️ Corporate treasuries have surpassed ETFs in bitcoin buying for a third consecutive quarter as more companies try to benefit from the MicroStrategy playbook in a more crypto-friendly regulatory environment. ▶️Public companies acquired about 131,000 coins in the second quarter, growing their bitcoin balance 18%, according to data provider Bitcoin Treasuries. ETFs showed an 8% increase or about 111,000 BTC in the same period. ▶️Public company bitcoin holdings increased 4% in April, a tumultuous month after the market was rocked by President Donald Trump’s initial tariffs announcement, versus 2% for ETFs. Nick Marie, head of research at Ecoinometrics, suggested that 10 years from now, there probably won’t be so many companies committed to the bitcoin treasury strategy. Firstly, he said, the more that enter the category, the more diluted the activity at each firm becomes. Plus, bitcoin may be so normalized by then that proxy buyers are no longer constrained by rules and mandates around direct exposure to bitcoin. Source: CNBC
First spot solana staking ETF is officially live
Source: Bloomberg
We have a new YTD country ETF leader -> Greece
Source: Mike Zaccardi, CFA, CMT, MBA
$TLT just saw a weekly inflow of $1.8 Billion, the highest inflow among all ETFs 🚨
Source: Bloomberg, Barchart
🔴 Some interesting perspectives on bitcoin by Blockware shared by Robert @reedlove on X.
▶️ Bitcoin is up 25% from its April 9th low and there’s a handful of indicators that show a major bull market around the corner. Starting with the Average Miner Cost of Production. ▶️ In a rational economy, assets rarely trade below their cost of production. Now, what it costs to “mine” a Bitcoin is different for every miner – machine type, electricity cost, and uptime all play a role — but the analysts @BlockwareTeam have aggregated data to create a metric called the “industry average”. ▶️ This metric has timed each of the past 6 Bitcoin bottoms: September 2024 November 2022 September 2020 March 2020 December 2018 April 2016 ▶️ This metric is signaling a bottom right now.
Retail Traders bought Stocks and ETFs last month at the fastest pace in history, to the tune of $40 Billion 🚨🚨🚨
Source: Barchart, Bloomberg
I think I already found my chart of the week...
The black line shows Total known Gold ETF Holdings while the brown line represents the Gold spot price. The ETF crew has finally woken up, but paper gold has a long way to go to catch up to physical buyers, who after the 2022 weaponization of the dollar are mostly central banks. Source: zerohedge
Gold ETFs drew largest weekly inflow since March 2022, says WGC
Physically backed gold exchange-traded funds (ETFs) registered the largest weekly inflow since March 2022 last week, data by the World Gold Council (WGC) showed on Monday. Gold ETFs store bullion for investors and account for a significant amount of investment demand for the precious metal, which hit a record high of $2,956.15 per troy ounce on Monday. Gold ETFs saw an inflow of 52.4 metric tons worth $5 billion last week, the largest amount since the first week of March 2022, when global markets were grappling with immediate consequences of Russia's invasion of Ukraine. This raised their total holdings by 1.6% to 3,326.3 tons, the largest since August, 2023. The U.S.-listed funds led the inflow last week with 48.7 tons. For comparison, in January they saw an outflow of 6.3 tons. source : reuters
