Bloomberg analysts say the Bitcoin ETFs have had a successful launch.
BlackRock says it’s been a success by every measure.
More funds coming in than gbtc has lost (+1b).
It’s likely that ZERO gbtc outflows have been reinvested into bitcoin ETFs bc of the wash trade rule.
That means +$4b of new money is in Bitcoin in 7 days.
After 30 days some of that gbtc outflow may come back into btc ETFs.
Bullish!
