🌊 Tuesday Bitcoin Flows

Your Daily Bitcoin Flows update

*Fixed the link!

Good morning.

Welcome to Flow State.

Where the bitcoin flows, we follow.

Let’s dive in.…🌊🌊🌊

  • Australia’s first spot Bitcoin ETF that allows for directly holding BTC launched. The Monochrome Bitcoin ETF (IBTC) launched on the CBOE exchange, with a fee of 0.98%. Gemini is the custodian.

  • Marquette University Professor David Krause was interviewed about the State of Wisconsin Investment Board’s $180m investment in Bitcoin ETFs. He said, “I think it’s just an entry point.”

  • Coinbase announced they are donating $25m to the lobbying effort to unseat anti-crypto members of Congress, matching the amount committed by mega-VC A16z last week.

  • Ethereum Researcher Justin Drake debated Solana cofounder Anatoly Yakovenko about the strengths and weaknesses of both blockchains.

  • Crypto VC Nic Carter outlined several of his theses about the direction of Artificial Intelligence and its possible effects on the US economy. Some good, some not so good.

  • On-chain analysis shows that BTC Short Term Holder Realized Profit has declined markedly, recently. This is generally interpreted to mean that short term holders (who are in profit) are declining to sell for a gain. Which can signify a market expectation that price will rise.

The Whales and Crabs had a slow start to the week, while the other cohorts raced ahead.

Mostly positive day for the stocks, though SMLR pulled back a bit.

🇺🇸 United States


FBTC had a huge start to the week, with inflows of 1110 BTC ($77m). Fun fact: FBTC represents an incredible 56% of all of Fidelity inflows so far this year.

🥈 Bitwise

BITB had another solid day on the podium, bringing in 207 BTC ($14.3m).


Close behind in third place was ARKB, drawing inflows of 154 BTC ($10.7m)

🧮 Total

It was a hot start to the week overall. Net inflows of 1520 BTC ($105m), which makes 15 days in a row of inflows. None of the ETFs had any outflows. IBIT and GBTC’s absence on the scoresheet was notable, with both recording neutral flows.


🇭🇰 Hong Kong

Some life in Hong Kong! The biggest day of inflows they’ve had in some time, thanks to ChinaAMC bringing in 457 BTC ($31.5m).

That’s the state of bitcoin flows for this Tuesday.

Thanks for reading, and I’ll see you tomorrow.

— Julian

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