Sirwin
Sirwin

Stop Grayscale outflows, iShares in positive strike for 71 days

By KMatt | Blogging Crypto | 25 Apr 2024


Despite slowing flows into BlackRock and Fidelity's Bitcoin funds, there are signs of optimism for the market. The outflows from the Grayscale fund have in fact stopped in the last three days, with positive flows during trading.

Grayscale and iShares, two different stories

Grayscale: its outflows seem to have finally stopped, settling at very low values compared to the $500 million in AUM lost daily in the past. Sales by bankruptcy entities have probably ended.

iShares: managed by BlackRock, recorded 71 consecutive days of inflow, positioning itself among the top 10 funds in US financial history. The flows could continue, allowing iShares to further climb the rankings.

Meanwhile, although Tesla's quarterly results have not been brilliant, the Bitcoin holdings of the group led by Elon Musck have remained intact and are today worth more than 700 million dollars. A positive signal after the liquidation of a significant part of the investment in a moment of rethinking linked to ecological issues.

In conclusion, signals from Grayscale, iShares and Tesla offer an optimistic outlook for the market. The flows, although modest, could continue to support the price of Bitcoin.

 

If you liked the article, subscribe and leave a like to not miss the next updates

Here below some links if you'd like to support me:

 

Sign up to Nexo and get $5 in Bitcoin,16% APY on your stablecoins and 2% cashback on Nexo Card by depositing and holding at least $100 for 90 days

https://nexo.com/ref/j6atsfddtw?src=android-link

 

Freecash (earn 20/100$ each month without cash investment)

https://freecash.com/r/Hello8

 

Cointiply (earn 20/100$ each month without cash investment)

https://cointiply.mobi/d7u2

How do you rate this article?

11


KMatt
KMatt

Welcome to my blog <3 I love playing videogames, interested in crypto, support #lgbtqi+ and human rights


Blogging Crypto
Blogging Crypto

Blogging crypto

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.