Despite this apparent cooling off, Eric Balchunas, a senior ETF expert at Bloomberg, has offered insights that challenge any premature conclusions about the demise of the Bitcoin ETF fervor. Balchunas suggests that such fluctuations are part of a natural ebb and flow within the ETF market, particularly following a period of rapid growth.
He emphasizes that the recent net outflows represent a mere fraction of the overall picture, with inflows persisting in other ETFs, notably IBIT, which has maintained an impressive streak of inflows for 67 consecutive days.
IBIT, in particular, has garnered attention for its sustained performance, ranking 13th in all-time inflows among over 3,000 ETFs. Its total net flows now stand at $15.3 billion, cementing its position as a leading player in the ETF landscape.
While recent headlines may paint a picture of waning interest in Bitcoin ETFs, Balchunas’ analysis offers a counterpoint, suggesting that the hype surrounding these investment vehicles is far from over.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
