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- 🌊 Fidelity's Firehose | Hong Kong ETFs Next Week!
🌊 Fidelity's Firehose | Hong Kong ETFs Next Week!
Your Daily Bitcoin Flows update, from Apollo
Julian Fahrer
April 11, 2024
Welcome back to your daily update on institutional Bitcoin flows.
Now entering the flow state…🌊🌊🌊
🥇Fidelity
FBTC stormed back into the lead yesterday, with inflows of 1100 BTC (USD $78m).
🥈 Blackrock
IBIT buying slowed yesterday, taking in only 480 BTC (USD $34m). Meanwhile BlackRock's Head of Active ETFs was on TV talking about growing investor appetite for Bitcoin.
🥱 Grayscale
GBTC outflows slowed alllll the way down to 250 BTC (USD $19m). Grayscale CEO might actually be telling the truth about ‘reaching equilibrium’.
🧮 Total
Overall we got back in the right direction yesterday, with a net inflow of 1785 BTC (USD $126m)
Banks Are Getting Bags
Yesterday saw a bunch of companies reporting ownership of bitcoin ETFs to the SEC in ‘13F’ filings, including a variety of wealth managers and family offices ranging in assets under management from $200m to $10B.
Most notable is perhaps American National Bank, with a small holding of Ark, which is nonetheless significant for breaking the seal on banks buying ETFs.
🔥 Inflation came in hot, with CPI increasing 0.4%, defying expectations. Joe Biden said this might delay rate cuts by a month. Which is interesting, because we all know the Fed is completely independent of political pressure…
🧠 Matt Hougan, Bitwise CIO, posted a great thread on “bitcoin's growing real-world utility.”
📈 Hong Kong is likely to approve spot bitcoin ETFs next week, according to Reuters. At least four mainland Chinese and Hong Kong asset managers have submitted applications to launch the ETFs.
