The largest BTC ETF holder changed hands, betting $380 million
Source: bitcoinist
Compile:Blockchainknight
Last week, investor sentiment in the U.S. spot BTC ETF market shifted significantly.
According to reports,The market saw positive inflows, breaking a streak of outflows that lasted nearly a month.The week ended with a significant positive inflow of $116 million, indicating growing investor interest in the newly approved index funds.
It is noteworthy that a new player entered the market and made a large investment,Quickly becoming one of the largest holders of BTC ETF.
Boston-based hedge fund Bracebridge Capital reportedly holds $262 million in Ark Invest's ARKB ETF, and is the largest owner of Blackrock's IBIT with an investment of $81 million.
Bracebridge Capital also holds $20 million in Grayscale's Bitcoin Trust (GBTC), which saw negative outflows of $103 million during the same period.
Bloomberg ETF expert Eric Balchunas described Bracebridge Capital's investment as "crazy".andXiaobai NavigationPointing out that the company has made a number of acquisitions.
It is worth mentioning that the number of holders for each ETF continues to increase, with IBIT having 250 holders in the first quarter alone, which is quite significant for a recently launched product.
In contrast, although the outflow of funds from the Hong Kong BTC ETF market is slower, it has continued.
On Friday, May 10, 2024, funds outflowed $6.3 million, followed by another outflow of $18.5 million on Monday, May 13, 2024.
It’s worth noting, however, that Bosera and Harvest have yet to report earnings on Monday, according to Farside.
These outflows come against the backdrop of rumors that a Hong Kong-listed BTC ETF will soon be available to mainland Chinese investors..
As previously reported, SyzCapital managing partner Richard Byworth sparked speculation about including Hong Kong-listed BTC ETFs in the Stock Connect system, which could allow mainland Chinese investors to access these funds.
Byworth's comments on social media highlighted the ongoing discussion surrounding the potential integration.This could lead to a large influx of funds from mainland China into the BTC ETF market.
ChinaAMC BTC ETF raised $121 million on its first trading day, and its early performance has led to more optimism about the future of Hong Kong BTC ETFs.
Samson Mow, a well-known figure in the industry, expressed bullish sentiments. Meanwhile, Brian HoonJong Paik, co-founder and COO of SmashFi, also highlighted mainland China’s interest in a Hong Kong BTC ETF and the possible socioeconomic benefits it could bring.
Paik highlighted China’s vast wealth in real estate, arguing that alternative investment opportunities could help stabilize the socioeconomic landscape and ease social unrest..
As the discussion continues, market participants are closely watching the potential impact of the BTC ETF on capital flows in mainland China, the overall adoption of digital asset funds, and more.
Meanwhile, the largest Crypto asset on the market has rebounded to the $63,000 level, with the price rising by 3% in the past 24 hours alone.
The article comes from the Internet:The largest BTC ETF holder changed hands, betting $380 million
No roadmap, no promises, no board. Written by KAYLAN SLINEY Translated by Xiaobai Navigation Coderworld Bitcoin Puppets is a collection of 10,001 unique PFPs hand-painted by a 12-year-old in MS Paint that has now taken Web3 by storm. At the time of publication, its floor price was 0…
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