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
It took the iShares Bitcoin ETF, $IBIT, 8 weeks to hit $15 billion in assets under management.
By comparison, it took the Gold ETF, $GLD, 3 years to hit $15 billion in assets under management, per Zerohedge. At this pace, $IBIT could overtake $GLD in a matter of days...
There it is: dumping of Bitcoin futures to push prices lower and at the same time record buying via bitcoin ETFs at an artificially lower price....
Every day, rinse repeat. Blackrock's ETF just bought the most bitcoin in one day on record. Source: www.zerohedge.com
One billion dollar baby..
Spot BTC ETFs had their first $1+ billion inflow day. Source: Jim Bianco, Bianco Research
Trading volume in US Bitcoin ETFs hit YTD highs of $8B as Bitcoin prices are up 59% YTD, after reaching a new all-time high.
The surge follows regulatory approvals for spot-Bitcoin ETFs and comes ahead of the anticipated halving event, reflecting significant shifts in crypto accessibility and investor interest. Source: Bloomberg, Beth Kindling
It took just 7 weeks for the iShares Bitcoin ETF to cross above $10 billion in assets, the fastest for an ETF ever.
The prior record was held by the first Gold ETF which took over 2 years to hit that mark after launching in Nov 2004. $IBIT $GLD Source: Charlie Bilello
