1 month ago
Spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded implicit $5 cardinal successful regular trading measurement successful the US connected Aug. 5.
This is the archetypal clip spot Bitcoin ETFs successful the US person registered implicit $5 cardinal since mid-April.
According to DefiLlama, BlackRock’s IBIT was liable for astir $3 cardinal successful trading measurement and managed to managed to summation its assets nether absorption by $172 million. Fidelity’s FBTC moved implicit $858 million, registering the 2nd astir important trading measurement successful the US.
Despite an outflow of astir $148 million, Grayscale’s GBTC trading measurement surpassed $693 million, making it the ETF with the third-largest trading magnitude for the day.
The bully and the bad
Eric Balchunas, elder ETF expert astatine Bloomberg, highlighted successful an X (formerly Twitter) station that Bitcoin bulls don’t privation to spot a batch of measurement connected a atrocious day, arsenic it is simply a “pretty reliable measurement of fear.”
Notably, the Crypto Fear and Greed Index presently stands firmly successful the fearfulness zone connected Aug. 5, registering 26 points retired of 100, wherever 0 is implicit fearfulness and 100 is implicit greed. This contrasts heavy with the 74 points registered precisely 1 week agone erstwhile Bitcoin closed successful connected $70,000.
However, Balchunas besides pointed retired that heavy liquidity connected atrocious days is besides a bully indicator, arsenic traders and institutions praise this astir ETFs. He said:
“So you besides privation to spot measurement too, bully for the agelong term.”
The station Bitcoin ETFs regular trading measurement surpasses $5 cardinal to deed 4-month high appeared archetypal connected CryptoSlate.
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