ETF analyst Balchunas admires Bitcoin investor: I didn't expect this much either
Bloomberg's ETF analyst Eric Balchunas said earlier this week that the declines in the financial world had a much less impact on Bitcoin spot ETFs than he expected, especially the resilience of the BlackRock investor, which seriously surprised him.
Eric Balchunas, one of the names followed by the crypto world, especially after the acceptance of Bitcoin spot ETFs in the USA, stated that the resilience of the Bitcoin fund investor surprised him.
'This situation is crazy...'
Balchunas, who evaluated the closure of ETFs in yesterday's trading day plus from his personal X account, also opened a separate parenthesis to the BlackRock fund:
“Bitcoin spot ETFs returned to surplus on Wednesday. The outputs seen in the recent declines corresponded to 0.5 percent of the total value. This means that in an environment where Bitcoin drops 14% only on Monday and 21% in a week, 99.5% of all the money remains inside. BlackRock's fund didn't even get money out of IBIT. There was also a volume of 5 billion dollars on it. It's crazy thing... I've been amazed by the resilience of the ETF investor in all asset classes, but I'm more surprised, especially at Bitcoin ETFs. I would expect 2-3% of the total value to come out of the funds. And even so, I would say 'this is a strong resistance', but the current situation is even better than that...”
Bitcoin spot ETFs in the U.S. had 168 million outflows on Monday and $148 million on Tuesday. ETFs had completed a surplus of 45 million dollars yesterday.
Although BlackRock's IBIT fou could not receive investment in the first two days, it did not lose and closed yesterday with a net plus of 52 million dollars.
