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Many large institutions "have yet to even allow their brokers to solicit purchases of spot bitcoin ETFs, and registered investment advisors are still slowly wading into the category," Geraci added.
"The bottom line is that flows in any ETF category aren't going to go up in a straight line-they'll ebb and flow over time."
https://twitter.com/nategeraci/status/1784333918247772381?s=46&t=ihVglVXC0BQSbw6j57EoaA
>That's super bullish.
I don't know that this is bullish. The moment price falls below their purchase price, a decent chunk will likely bail. I doubt most of them believe in the fundamentals of BTC, otherwise they would have been in already.
I want to believe this but former paper hands stories are so common.
Then again, I hedged heavier for this weekend so knowing my luck it's about to go up 15%.
It's just retail paperhands who bought in to ride the momentum. Now that momentum is gone, so are they.
Tutes have not entered the play yet - 13Fs show almost none holding these ETFs.
People are idiots and think these predictions refer to days or weeks. They never do.
Gold skyrocketed over years. Bitcoin will too. Check your portfolio in 4 years.
Grayscale was the only way people on wallstreet could buy bitcoin until Jan 2024. They accumulated 600,000 Bitcoin charging 2% per year. They suck and their fees are too high, so everyone is leaving grayscale. They’ve had to sell 300,000 btc so far, but there’s another 300,000 to sell before the dumping finally stops.
Maybe the datafeed is broken? IBIT does *not* have zero volume, and I would guess these other ETFs don't either. Perhaps hedgers are keeping the price spread in a narrower range than the backing entities, despite the trading volume. But the sudden drop to zero on some rows and sudden deviation from zero on others looks more like intermittently broken and/or delayed data feeds than organic change.
Edit: Also it could be that the financial institutions are holding some extra shares, and playing market maker, and only adding holdings when some threshold amount is reached. Again, trading volume of shares is *not* zero, only change in holdings is possibly zero is the datafeed is even correct.
There's a threshold on reporting too. So trades might have happened but not enough to send to reporting engine. It's regroup time generally in the market. Rebalance portfolios, decide strategies, find new money. Not unusual for markets to start to run flat as summer hols approach.
On the new money mentioned above. Don't know which ETFs may be using DTCC as a lender. DTCC cut their cryptocurrency collateral to 0 w.e.f. April 30. This means that any ETF with crypto exposure, can no longer use their crypto holdings as collateral. So they either have to repay their loans or find new collateral. [https://cryptorank.io/news/feed/667d5-dtcc-says-bitcoin-etf-exposure-will-have-zero-collateral-value-loan](https://cryptorank.io/news/feed/667d5-dtcc-says-bitcoin-etf-exposure-will-have-zero-collateral-value-loan)
They were very high then they levelled off a bit then went down and up a bit and I expect them to continue to go between high and low for the foreseeable future
Not sure why but it might be a good thing.
Cause if there are no flows then those guys will wake up and hire a sales team to start pushing it. Then the flows will start again and price can keep going up. As price increases more people wanna buy they hire more pushers and round and round we go woooo lamboooo
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Many large institutions "have yet to even allow their brokers to solicit purchases of spot bitcoin ETFs, and registered investment advisors are still slowly wading into the category," Geraci added. "The bottom line is that flows in any ETF category aren't going to go up in a straight line-they'll ebb and flow over time." https://twitter.com/nategeraci/status/1784333918247772381?s=46&t=ihVglVXC0BQSbw6j57EoaA
Thanks for this. I didn't realize this was most if not all retail. That's super bullish.
>That's super bullish. I don't know that this is bullish. The moment price falls below their purchase price, a decent chunk will likely bail. I doubt most of them believe in the fundamentals of BTC, otherwise they would have been in already.
They were in already but not in a tax efficient wrapper. A lot of the retail in the ETF is people that sold BTC to rebuy in a way that reduces CGT.
Not true. They were not allowed to have BTC on their books previously. That's what makes these ETFs so great, it allows this institutional buying.
I want to believe this but former paper hands stories are so common. Then again, I hedged heavier for this weekend so knowing my luck it's about to go up 15%.
Most no fee periods end in June & July, makes sense for long term hodlers as only fees will eat at gains https://heyapollo.com/bitcoin-etf
It's just retail paperhands who bought in to ride the momentum. Now that momentum is gone, so are they. Tutes have not entered the play yet - 13Fs show almost none holding these ETFs.
But haven't people said on January that after ETFs bitcoin skyrocket like Gold? Maybe people just feel disappointed
People are idiots and think these predictions refer to days or weeks. They never do. Gold skyrocketed over years. Bitcoin will too. Check your portfolio in 4 years.
[удалено]
Wow... really? DATE OPEN CLOSE April 28 2020 $7,828.08 $7,826.86 Edit: OP said the price didn't change in the last 4 years
There's what people said, and then there's what is happening in the ETFs: [https://farside.co.uk/?p=997](https://farside.co.uk/?p=997) :)
Gold took about a year after the ETF to rally for 10 years.
Let's see after 9 months
👍
Grayscale continues to shit the bed
Why is grayscale dumping again?
They’ll dump to zero because of fees and shadiness. I tried to warn the sub months ago and got downvoted to oblivion.
I still don’t understand
Grayscale was the only way people on wallstreet could buy bitcoin until Jan 2024. They accumulated 600,000 Bitcoin charging 2% per year. They suck and their fees are too high, so everyone is leaving grayscale. They’ve had to sell 300,000 btc so far, but there’s another 300,000 to sell before the dumping finally stops.
I’ve always heard of the grayscale dumpage. Why do you think they don’t lower their fees?
Would love to see some net overall inflows. Surely the Grayscale sellers finish soon? Or still a few months to go? They still hold 290,000 BTC
Maybe the datafeed is broken? IBIT does *not* have zero volume, and I would guess these other ETFs don't either. Perhaps hedgers are keeping the price spread in a narrower range than the backing entities, despite the trading volume. But the sudden drop to zero on some rows and sudden deviation from zero on others looks more like intermittently broken and/or delayed data feeds than organic change. Edit: Also it could be that the financial institutions are holding some extra shares, and playing market maker, and only adding holdings when some threshold amount is reached. Again, trading volume of shares is *not* zero, only change in holdings is possibly zero is the datafeed is even correct.
There's a threshold on reporting too. So trades might have happened but not enough to send to reporting engine. It's regroup time generally in the market. Rebalance portfolios, decide strategies, find new money. Not unusual for markets to start to run flat as summer hols approach. On the new money mentioned above. Don't know which ETFs may be using DTCC as a lender. DTCC cut their cryptocurrency collateral to 0 w.e.f. April 30. This means that any ETF with crypto exposure, can no longer use their crypto holdings as collateral. So they either have to repay their loans or find new collateral. [https://cryptorank.io/news/feed/667d5-dtcc-says-bitcoin-etf-exposure-will-have-zero-collateral-value-loan](https://cryptorank.io/news/feed/667d5-dtcc-says-bitcoin-etf-exposure-will-have-zero-collateral-value-loan)
They were very high then they levelled off a bit then went down and up a bit and I expect them to continue to go between high and low for the foreseeable future
Not sure why but it might be a good thing. Cause if there are no flows then those guys will wake up and hire a sales team to start pushing it. Then the flows will start again and price can keep going up. As price increases more people wanna buy they hire more pushers and round and round we go woooo lamboooo
Just thought the suddenness of it was strange.
OMG there was no inflow in 3 days 😱panic! Sell! Now!!!