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Every spot Bitcoin ETF in the US register inflows for the first time
Bloomberg ETF analyst Eric Balchunas pointed out that boomers are better at holding their ETF shares than crypto native investors.
All spot Bitcoin exchange-traded funds (ETFs) in the US registered positive netflows on March 6, according to Bloomberg ETF analyst Eric Balchunas. He shared on X that this is a first for daily netflows.
Moreover, Balchunas said that over 95% of ETF investors held their shares during “what was a pretty nasty and persistent downturn.”
“As we said, outflows will happen, and so will inflows but over time two things tend to be true for ETFs: net growth and relatively strong hands,” the Bloomberg analyst added.
First time ever 1D flows all green, no red for the Bitcoin Bunch. Not going to spike the football like some did during the outflow period but will point out that over 95% of the ETF investors HOLD-ed during what was a pretty nasty and persistent downturn. Will same happen next… pic.twitter.com/3l3uwwmqGy
— Eric Balchunas (@EricBalchunas) May 6, 2024
Balchunas also shared while answering one of the comments that, from what he’s seen so far, boomers are better holders than crypto natives. “This is a tiny hot sauce allocation for 60-40 crowd, not their ‘real portfolio’. This helps them stomach the volatility.”
Furthermore, US spot Bitcoin ETFs added 4,412 BTC to their holdings, which is equivalent to over $280 million, according to X user Lookonchain. The largest Bitcoin additions were registered by Fidelity’s FBTC and ARK Invest’s ARKB, with 1,574 BTC and 1,200 BTC in inflows, respectively.
Cumulatively, US Bitcoin ETFs hold over $52 billion in Bitcoin or 821,736 BTC. Grayscale’s GBTC still leads the pack with 291,293 BTC at the time of writing, with BlackRock’s IBIT close by with 274,029 BTC.
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