I believe you are correct. At least it should be that way.
However thenthis makes no sense with the current price reaction:
https://www.tradingview.com/news/the_block:9f41145fb094b:0-spot-bitcoin-etfs-see-11-straight-days-of-net-inflows-as-blackrock-s-ibit-claims-top-spot/
U.S. spot bitcoin exchange-traded funds logged a total daily net inflow of $45.14 million on Tuesday. This marks the fund’s 11th consecutive day of inflows, which is the longest streak of positive flows since February.
BlackRock’s IBIT drew in $102.5 million, leading net inflows among bitcoin ETFs on Wednesday, according to data from SoSoValue. This led IBIT to become the largest spot bitcoin fund in terms of net asset value, with $19.68 billion — surpassing that of Grayscale’s GBTC.
Since converting into a spot bitcoin ETF, GBTC has been losing funds on most days, including yesterday, when it saw net outflows of over $105 million. As of Wednesday, GBTC has a net asset value of $19.65 billion.
Fidelity’s FBTC reported the second-largest net inflows of $34.35 million. At the same time, other funds from Ark Invest and 21Shares, Bitwise, Invesco and Galaxy Digital, Valkyrie, and WisdomTree saw single-digit gains on Wednesday.
Combined, the 11 spot bitcoin ETFs saw total net inflows of over $2 billion in the past 11 days, bringing the cumulative total net inflows since January to $13.73 billion.
Meanwhile, the price of bitcoin rose 0.73% in the past 24 hours to $68.126, according to The Block’s Bitcoin Price Page.
Michael
npub1lj0…hkxe
2024-05-29 10:51:26
in reply to nevent1q…84fx
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npub1lj0gvjxfd8yzche9r66e4u20xzyatmg0wwfd676a9kdffmjunj7szqhkxeSeen on
wss://relay.noswhere.comPublished at
2024-05-29 10:51:26Event JSON
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"content": "I believe you are correct. At least it should be that way.\n\nHowever thenthis makes no sense with the current price reaction:\nhttps://www.tradingview.com/news/the_block:9f41145fb094b:0-spot-bitcoin-etfs-see-11-straight-days-of-net-inflows-as-blackrock-s-ibit-claims-top-spot/\n\nU.S. spot bitcoin exchange-traded funds logged a total daily net inflow of $45.14 million on Tuesday. This marks the fund’s 11th consecutive day of inflows, which is the longest streak of positive flows since February.\n\nBlackRock’s IBIT drew in $102.5 million, leading net inflows among bitcoin ETFs on Wednesday, according to data from SoSoValue. This led IBIT to become the largest spot bitcoin fund in terms of net asset value, with $19.68 billion — surpassing that of Grayscale’s GBTC. \n\nSince converting into a spot bitcoin ETF, GBTC has been losing funds on most days, including yesterday, when it saw net outflows of over $105 million. As of Wednesday, GBTC has a net asset value of $19.65 billion.\n\nFidelity’s FBTC reported the second-largest net inflows of $34.35 million. At the same time, other funds from Ark Invest and 21Shares, Bitwise, Invesco and Galaxy Digital, Valkyrie, and WisdomTree saw single-digit gains on Wednesday.\n\nCombined, the 11 spot bitcoin ETFs saw total net inflows of over $2 billion in the past 11 days, bringing the cumulative total net inflows since January to $13.73 billion. \n\nMeanwhile, the price of bitcoin rose 0.73% in the past 24 hours to $68.126, according to The Block’s Bitcoin Price Page.",
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