ETFs need to pull nearly $ 1B to avoid the second largest monthly flow to the record
Bitcoin The Bulls faced a high challenge this week: The Funnel nearly $ 1 billion in funds listed in the US listed in the US (ETFS) And avoid the public -listed investment vehicles in the institutional registration of their second worst performance recorded.
In January 2024, NASDAQ listed 11 spots Bitcoin ETF, which allowed investors to expose cryptocurrency while eliminating the need for self-custody of coins. Since then, these funds have combined -with $ 53.9 billion in investor money.
However, this month has become a different story. These funds have registered a net flow of $ 972 million, which is the second largest from their start, just behind $ 3.56 billion in February, according to the data source Socal. A negative tally by Friday will mark the end of the four-month outflow.
Slowing the uprising for ETFs is one of the major reasons for BTC’s Dour price performance this month, according to analysts. The price of the area has sank into a record of over $ 124,000 early this month and the last changed hands of over $ 100,000.
“This month can only see the second highest outflow recorded, compared to the $ 3.5 billion pebble of February during the US debacle.
The firm added that it remains a time to “tread well,” even if macro and liquidity drivers can push BTC higher.
The consensus is that the BTC will continue to gain land during the year, which will potentially reach levels of over $ 150,000. But it will need massive flow, according to 10x Research’s Founder Markus Thielen.
“Some argue that the Macro’s narrative of Bitcoin only matters, but without the real capital flow, the price cannot increase. To reach $ 150,000, Bitcoin will require nearly $ 404 billion in this year’s total flow-which means an additional $ 173 billion between now and the end of the year,” Thielen said in a note on Tuesday.
“That has doubled the combined dedication from Bitcoin ETF and microstrategy since early January 2024,” he added.
Note that Ether ETF has registered a net inflow of $ 3.23 billion this month, expanding the winning streak since April.
