First ETF Outflow Day in Nearly A Month, Coinbase Pushes for ETH ETF

Feb 22, 2024
Market Update Following NVDA's substantial earnings beat announced after yesterday's market close, equities have experienced a significant surge, with the QQQ climbing 2.4% and the SPX advancing 1.6%. The DXY remains unchanged for the day, while gold is experiencing a slight decline, and the yield curve is flattening, marked by a notable increase in short-term rates but a decrease in the 20-year and 30-year rates. In the crypto market, Bitcoin has not seen the same bounce as NVDA but is still managing to sustain above the $51.5k threshold. Meanwhile, $ETH is on the verge of breaking the $3k barrier, showing increased momentum relative to $BTC. The notable standouts in the crypto market this morning have been AI-related tokens such as $AGIX, $WLD, and $FET, which have emerged as the major winners over the past 12 hours. This is an AI narrative-based rally sparked by Nvidia's earnings report, which underscored its optimistic outlook on the growth potential of AI.Yesterday marked the first day of net outflows for BTC ETFs since late January, with a modest yet negative outflow of $36 million. This downturn was primarily driven by a $199 million redemption in GBTC, overshadowing the inflows into other newly launched ETFs. Interestingly, GBTC was the only Bitcoin ETF to record outflow

Unlock this article by joining our Community!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

We accept crypto via BitPay for yearly subscriptions.

Choose one of our yearly plans to save nearly 15%
Macro + Crypto

FSI Pro

The Complete Package

FSI Macro + FSI Crypto

from $219/mo

First Month Free!

Macro

FSI Macro

from $169/mo

First Month Free!

What’s included?

WEBINARS AND MEDIA

Webinars

We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights!

WEEKLY

COMING SOON

Fireside Chats

Weekly interviews with our research heads about market opportunities and important updates.

RESEARCH

WEEKDAYS

Tom Lee's First Word

The best market research out there -- on a near-daily basis.

ON MARKET EVENTS

Tom Lee's Intraday Word

These are released periodically after crucial market developments.

DAILY

Daily Technical Strategy

Daily commentary on market trends and short term opportunities.

WEEKLY

Wall Street Whispers

Exclusive insights based on discussions with institutional clients.

WEEKLY

Quantitative Strategy

Quantitative market research utilizing industry-leading analytical methods.

WEEKLY

US Policy

Weekly update on developments in Washington DC and how they may impact Wall Street.

WEEKLY

Weekly Roadmap

Weekly summary of market events and updates on our key theses.

EARNINGS SEASON

Earnings Daily

A multi-faceted update of earnings developments.

UPDATED BI-WEEKLY

Signal From Noise

Highlights timely market themes and sectors with corresponding stocks, cutting through the day-to-day market “noise” for a distinct perspective.

STOCK LISTS

UPDATED MONTHLY

FSI Sector Allocation

A sector allocation strategy that is designed to outperform the S&P 500 while taking minimal risk.

UPDATED MONTHLY

Factor Strategy

List of ETFs based on quantitative models that should outperform the S&P 500 on a monthly basis.

UPDATED MONTHLY

Newton's Upticks

Technically derived, intermediate-term picks of attractive risk/reward opportunities from the S&P 500.

AND MORE!

FSI Academy

Thematic investment stock picks that aim to outperform the S&P 500.

Community Questions

We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!

Community Interviews

Get questions answered directly by our research heads and guest speakers.

Get access to all the macro research on FS Insight

First Month Free!

Crypto

FSI Crypto

from $79/mo

First Month Free!

What’s included?

WEBINARS AND MEDIA

Webinars

Ongoing webinars exploring crypto opportunities, in depth research, and exclusive research offerings from our team of analysts and leading cryptocurrency firms.

WEEKLY

Crypto Comments

Digestible videos expanding on important market events and metrics that are shaping cryptocurrency markets.

RESEARCH

DAILY

Crypto Market Update

Stay on top of the crypto markets with macro commentary, technical analysis, and the most relevant news.

INTRA MONTH

Crypto First Word from Tom Lee

Hear directly from Tom Lee about important cryptocurrency developments.

WEEKLY

Crypto Technical Strategy

From Bitcoin, Ethereum and Solana to other coins, our Head of Technical Strategy highlights important price movement to help give you an edge.

WEEKLY

Crypto Strategy

A must-read summarizing our key thoughts about the crypto market, price action, and developing trends.

WEEKLY

Funding Fridays

Are you looking for investment opportunities in the crypto space? We explore early-stage crypto opportunities in this note about where the smart money is being invested!

WEEKLY

COMING SOON

Crypto Events

Never miss another conference, a high-impact software update, or an event that could be market-moving!

NTRA-MONTH

Deep Research Reports

Our consulting business delivers incredible deep research reports to highlight the economics and viability of exciting crypto projects.

WEEKLY

Crypto Strategy

Keep track of bitcoin sentiment to plan your digital assets strategy.

AND MORE!

FSI Academy

Our main goal is to make you a better investor! This series will guide you through key financial concepts and topics in an understandable way.

Community Questions

We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals!

Community Interviews

Get questions answered directly by our research heads and guest speakers.

Get access to all the Crypto research on FS Insight

First Month Free!

Reports you may have missed

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.48% falling to $60k and ETH -0.36% approaching the low $2,300s. Aptos (APT -3.36% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -2.71% is also showing slight gains following...

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.48% climbing back above $61,000 and SOL -1.10% moving above $145, while ETH -0.36% is lagging, trading around $2,400. Among today's outperformers is SUI -0.86% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In