BlackRock’s Bitcoin ETF records first drawdown as outflows hit record high

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.

It's just that some were trying to look at what happened in the US and equate that in some way to the HK ETF market on an almost *absolute* basis“Hong Kong ETFs opened to a launch that would be considered successful in terms of the Hong Kong market but is tiny compared to the US launch,” said Steven Lubka, Head of Private Clients at Swan Bitcoin, in a note to Kitco Crypto. “They have been robustly successful in attracting AUM via in-kind creation but trading volume is more muted.

– Gold is at an inflection point post-Fed with prices pulling back on improved market sentiment and lower safe-haven demand, according to Joaquin Monfort, European Editor at FXStreet.The post-halving weakness from Bitcoin led to the first recorded day of outflows from BlackRock’s IBIT on Wednesday, but analysts remain bullish on the long-term trajectory. - The gold market is holding support above $2,300 but is not seeing much momentum as the U.S. labor market continues to stabilize.

-The gold market is holding solid gains above $2,300 an ounce but is not seeing any new momentum as the Federal Reserve maintains its restrictive monetary policy stance and warns that inflation remains a stubborn problem.Seeds of destruction - Can mining side step another bubble, wonders Newcore Gold’s Luke Alexander?Cryptos and stocks rebound after Fed holds rates steady, DXY and U.S. 10-yr.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Record US Bitcoin ETF Outflow Buffets BlackRock, Fidelity FundsUS spot-Bitcoin exchange-traded funds suffered their largest daily outflow as the digital token heads for its worst week since August 2023.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Bitcoin ETF Discounts Reach Records After Late-Day Selloff(Bloomberg) -- Prices of some of the biggest spot-Bitcoin exchange-traded funds closed Tuesday at their largest discounts to the value of their underlying...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

‘East vs West:’ How Hong Kong Bitcoin ETF can cover U.S. losses, per execsHong Kong ETFs recorded an impressive performance on the first day of trading, hitting $12.4M volume and higher AUM.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin ETFs: Australia to launch new spot funds by year-end, Hong Kong ETF debut underwhelmsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Bitcoin Faces Worst Month Since FTX Crash With ETF Demand CoolingBitcoin is registering its worst month since the collapse of Sam Bankman-Fried’s FTX empire as the euphoria around US exchange-traded funds for the largest digital asset subsides.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Hong Kong vies with U.S. in Bitcoin ETF market after crypto's revivalA batch of exchange-traded funds investing directly in crypto debuted in Hong Kong on Tuesday, heralding potential competition for U.S. Bitcoin products whose popularity stoked a record rally in the digital asset.
Source: BNNBloomberg - 🏆 83. / 50 Read more »