The Breakdown The Surprise Second Biggest Bitcoin ETF Inflow Day Ever
Jun 6, 2024
The podcast discusses the surprising influx of $900 million into Bitcoin ETFs, surpassing expectations. It highlights institutional adoption, pension fund investments, Bitcoin's price surge, potential selling pressure, SEC Utah office closure impact, and political shifts in the crypto market for regulatory clarity.
AI Snips
Chapters
Transcript
Episode notes
Bitcoin ETF Inflows Surge
- Bitcoin ETFs have seen 16 days of net inflows, totaling $2.9 billion.
- This high demand surpasses Bitcoin's new daily supply, suggesting a potential supply squeeze.
Record ETF Inflows
- Tuesday saw massive inflows into Bitcoin ETFs, led by Fidelity's $378 million.
- This marks Fidelity's second-largest inflow day, totaling over $887 million, close to the March record.
Wisconsin Pension Fund Adopts Bitcoin
- Wisconsin's fully funded pension system added Bitcoin to its portfolio.
- This move is ahead of the curve, demonstrating their innovative approach and long-term investment strategy.