tl;dr
Bitcoin's price briefly dropped below $50,000, causing outflows in some spot Bitcoin ETFs, but BlackRock's iShares Bitcoin Trust (IBIT) held steady with $52.5 million in inflows while Grayscale's Bitcoin Trust (BGTC) saw $132 million in outflows since the week began. Overall, spot Bitcoin ETFs exper...
BlackRock's spot Bitcoin ETF investors remain steadfast amid market volatility. Despite Bitcoin's price briefly dropping below $50,000, causing outflows in some spot Bitcoin ETFs, BlackRock's iShares Bitcoin Trust (IBIT) held steady with $52.5 million in inflows while Grayscale's Bitcoin Trust (BGTC) saw $132 million in outflows since the week began. Overall, spot Bitcoin ETFs experienced mild outflows totaling 0.5% of their assets under management. Despite this, four spot Bitcoin ETFs, including ARK 21Shares Bitcoin ETF and GBTC, saw daily outflows, while seven others remained unaffected.
Warren Buffet's "be greedy when others are fearful" advice has been exemplified by Wall Street investors in the face of Bitcoin price decline. Despite spot Bitcoin ETFs notching net outflows of around $271 million since Monday, a two-day stretch of outflows amounted to just 0.5% of their total assets under management, outperforming expectations. Eric Balchunas, a Bloomberg ETF analyst, noted that an overwhelming amount of ETF funds “hung tough in the face” of Bitcoin’s 14% decline on Monday.
Just before Monday’s dip, Morgan Stanley unleashed 15,000 financial advisors on the Bitcoin market, flashing a green light for advisors to pitch shares in IBIT and Fidelity’s Wise Origin Bitcoin Trust (FBTC) to clients. Still, FBTC is among four spot Bitcoin ETFs that have notched daily outflows this week, including the ARK 21Shares Bitcoin ETF, the Franklin Bitcoin ETF, and the aforementioned GBTC. ETFs from seven other issuers remain in the clear.
As Bitcoin rebounded to over $57,500, spot Bitcoin ETFs received $45 million in inflows, with Bitwise CIO noting ETF investors buying the dip. Despite Bitcoin’s price falling 10% in the past week, investors in BlackRock’s spot Bitcoin ETF haven’t flinched, with IBIT seeing inflows of $52.5 million and WisdomTree Bitcoin Fund at $10.5 million.
More about Masco Corporation
Masco Corporation Summary Company: Masco Corporation
Description: Masco Corporation is a manufacturer of products for the home improvement and new home construction markets.
Industry: Manufacturing
Segments: Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures
Market Cap: 15.75B
Stock Price: $17.64
EPS: 1.155
P/E Ratio: 4.09
52-Week High: $35.49
52-Week Low: $17.64
Dividend Yield: 0.116
Revenue: 7.878B
Operating Margin: 82.6%
ROA: 0.009
ROE: -0.017
More about ZEEKR Intelligent Technology Holding Limited
ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of electric vehicles and batteries.
Sector: Technology
Industry: General
Market Cap: 4,382,255,000
Dividend Yield: None
Beta (3Y Monthly): -4.43
PE Ratio (TTM): 288.94
EPS (TTM): -0.138
Revenue: 57,788,961,000
Operating Margin: 34.73
Return on Assets: 0
Return on Equity: 0.71