Institutional investors pour into Bitcoin ETFs despite flat prices Bitcoin is standing still while the rest of the market is running laps. Over the past month, as the S&P 500 continues to clock record highs and new IPOs explode out of the gate, Bitcoin hasn’t broken past its last high set on May 22. Adam Parker, the founder of Trivariate Research, told clients that Bitcoin’s behavior is starting to look less chaotic. “Bitcoin appears to be trading slightly differently now than previously,” Adam said, adding that the coin’s movement is now more in sync with “high-quality growth stocks” rather than the “hyper-growth junk stocks” it used to mirror. That change, he said, is why some in traditional finance circles are beginning to treat Bitcoin like a real asset. Institutional investors pour into Bitcoin ETFs despite flat prices Even though Bitcoin’s trading has been rangebound for weeks, big players aren’t backing off. The iShares Bitcoin Trust (IBIT) pulled in more than $4 billion over the past month, based on data from FactSet. That’s a huge inflow considering the coin’s price hasn’t moved much. #Trump’s Tax Reform #Grayscale ETF Approval
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#Gate Tops Global 30-Day Net Inflows
Institutional investors pour into Bitcoin ETFs despite flat prices
Bitcoin is standing still while the rest of the market is running laps. Over the past month, as the S&P 500 continues to clock record highs and new IPOs explode out of the gate, Bitcoin hasn’t broken past its last high set on May 22.
Adam Parker, the founder of Trivariate Research, told clients that Bitcoin’s behavior is starting to look less chaotic. “Bitcoin appears to be trading slightly differently now than previously,” Adam said, adding that the coin’s movement is now more in sync with “high-quality growth stocks” rather than the “hyper-growth junk stocks” it used to mirror. That change, he said, is why some in traditional finance circles are beginning to treat Bitcoin like a real asset.
Institutional investors pour into Bitcoin ETFs despite flat prices
Even though Bitcoin’s trading has been rangebound for weeks, big players aren’t backing off. The iShares Bitcoin Trust (IBIT) pulled in more than $4 billion over the past month, based on data from FactSet. That’s a huge inflow considering the coin’s price hasn’t moved much.
#Trump’s Tax Reform
#Grayscale ETF Approval