tl;dr
The article discusses BlackRock's Bitcoin ETF (IBIT) obtaining 5,805 BTC in 24 hours, with total inflows reaching $22.5 billion since its inception. It highlights the strong week for US spot Bitcoin ETFs, with total inflows across all nine US BTC ETFs surpassing $20 billion for the first time. Addit...
BlackRock's Bitcoin ETF (IBIT) has achieved significant milestones, with total inflows reaching $22.5 billion since its inception. The article highlights the strong week for US spot Bitcoin ETFs, with total inflows across all nine US BTC ETFs surpassing $20 billion for the first time. Additionally, it mentions the launch of the STKD Bitcoin & Gold ETF by Quantity Funds, providing exposure to both Bitcoin and Gold.
The US spot Bitcoin ETFs have seen massive demand this week, with BlackRock’s IBIT hitting an important milestone with total inflows reaching $22.5 billion since inception. On Wednesday, the BlackRock BTC ETF scooped a total of 5,805 BTC with inflows skyrocketing to $393.4 million yesterday.
On Wednesday, the net inflows in US Bitcoin ETFs stood at a staggering $458 million with BlackRock (IBIT) taking an overwhelming lead against its peers. Of the total inflows, the BlackRock Bitcoin ETF alone contributed $393 million. Additionally, the net inflows across all nine US BTC ETFs have grossed more than $20 billion for the first time since inception.
This week has started on a pretty strong footing for US BTC ETFs netting nearly $1.4 billion within just the first three days. The spot BTC ETFs provide investors a regulated environment to seek exposure to Bitcoin.
On Wednesday, October 16, Quantity Funds launched an exchange-traded fund that provides exposure to both Bitcoin and Gold. Dubbed STKD Bitcoin & Gold ETF, the fund aims to protect investors from inflation and “currency debasement,” according to the company’s statement.
Speaking on the development, Quantity Funds noted: “The bitcoin strategy seeks to capture the price return of bitcoin, investing in BTC futures and ETPs, while the gold strategy similarly seeks to capture the price return of gold via investments in gold futures and gold ETPs”.
BTGD is the first ETF to offer a “stacked approach,” providing more than $1 of exposure for every $1 invested in both BTC and gold, the firm announced. The fund does not invest directly in cryptocurrencies or physical gold but instead utilizes futures and ETFs to achieve its strategy.
More about General Dynamics Corporation
General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
Industry: MANUFACTURING, SHIP & BOAT BUILDING & REPAIRING
Market Cap: $83.77 billion
Current Price: $23.78
Dividend Yield: 5.48%
P/E Ratio: 12.82
52-Week High: $164.48
Beta: 0.0789
Revenue: $44.946 billion
EPS: $327.35
Profit Margin: 20.7%
Operating Margin: 18%