tl;dr
U.S. spot Bitcoin ETFs saw a surge in trading volumes with $257 million in net inflows on Thursday, May 16. This marks a strong rebound from major outflows the previous week, totaling over $657 million in inflows by Thursday. Grayscale's ETF GBTC reported a single-day net inflow of $4.6382 million, ...
U.S. Bitcoin ETFs see $257 million net inflows, with institutional participation strong
Hong Kong's cryptocurrency ETFs underperform compared to US counterparts, experiencing investor outflows
U.S. spot Bitcoin ETFs saw a surge in trading volumes with $257 million in net inflows on Thursday, May 16. This marks a strong rebound from major outflows the previous week, totaling over $657 million in inflows by Thursday. Grayscale's ETF GBTC reported a single-day net inflow of $4.6382 million, while BlackRock's ETF IBIT and Fidelity's ETF FBTC recorded net inflows of $93.7004 million and $67.0829 million, respectively. Institutional participation in Bitcoin ETFs remains strong, with over 700 institutional investors seeking exposure to these funds, as per data from Bitwise asset management.
However, Hong Kong's first cryptocurrency ETFs have shown lackluster performance, experiencing investor outflows and falling short compared to their U.S. counterparts. Despite this, Bloomberg Intelligence ETF Analyst Rebecca Sin anticipates further growth in the ecosystem, predicting these portfolios could accumulate $1 billion within two years.
U.S. spot Bitcoin ETFs have returned to the spotlight as trading volumes surged this week. On Thursday, May 16, spot Bitcoin ETFs saw $257 million in net inflows, with GBTC reporting inflows for the second consecutive day.
BITCOIN ETF INFLOWS BOUNCE BACK THIS WEEK
After seeing some major outflows last week, the U.S. Bitcoin ETFs have bounced back strongly with over $657 million in inflows till Thursday. As per the on-chain data, the BTC ETFs have scooped a total of 11,188 Bitcoins which is nearly five times the Bitcoins mined.
As of May 16, US Bitcoin spot ETFs witnessed a total net inflow of $257 million. Grayscale’s ETF GBTC experienced a notable single-day net inflow of $4.6382 million. Additionally, BlackRock’s ETF IBIT recorded a net inflow of $93.7004 million, while Fidelity’s ETF FBTC saw a net inflow of $67.0829 million within the same timeframe.
As we have seen over the last week, some of the big market players in traditional finance have been declaring their exposure to Bitcoin ETFs. This shows that institutional participation in Bitcoin ETF is strong and likely to continue going ahead. As per the data from Bitwise asset management, more than 700 institutional investors are likely to seek exposure to these Bitcoin funds.
HONG KONG BITCOIN ETFS HAVE LACKLUSTER PERFORMANCE
The initial excitement surrounding Hong Kong’s first exchange-traded funds (ETFs) investing directly in cryptocurrency has fallen short compared to their US counterparts. Data from Bloomberg reveals that the total assets of the six Bitcoin and Ether ETFs have decreased by approximately $25 million from the initial $293 million gathered at their debut two weeks ago, indicating investor outflows.
Courtesy: Bloomberg Le Shi, head of trading at market-making and algorithmic trading firm Auros, described the response to the Hong Kong launches as “lukewarm” so far. Speaking to Bloomberg, he added: “Firstly, they got beaten to the punch by the US. Secondly, there’s ongoing uncertainty about China’s intentions with regards to crypto, which is causing potential investors to tread carefully, or avoid the jurisdiction altogether.”
Bloomberg Intelligence ETF Analyst Rebecca Sin highlighted some positives from the launches, noting that total assets have already surpassed $250 million. Sin anticipates that more issuers will “join the race” as the ecosystem evolves, predicting that these portfolios could accumulate $1 billion within two years.
More about LTC Properties Inc
LTC Properties Inc Market Analysis LTC Properties Inc Market Analysis Summary
LTC Properties Inc (LTC) is a real estate investment trust (REIT) that focuses on senior housing and healthcare properties.
Industry: Real Estate & Construction
Sector: Real Estate Investment Trusts
Market Cap: 1,502,075,000
Stock Price: $17.99
Dividend Yield: 2.28%
P/E Ratio: 1.92
EPS: 4.672
Beta: 0.415
Volume: 194,919,000
52-Week High: $34.83
52-Week Low: -$0.3
Price Change (1 year): 0.066