Adding DePIN Exposure and SOL Beta Through HNT (Core Strategy Rebalance)

Feb 29, 2024 • 12 Min Read

Flows Beget More Flows

We have recently discussed the potential return of crypto being correlated with equities due to the new category of market participants entering the fold. However, price action this week suggests that inflows into the BTC ETFs may be throwing water onto that theory. It seems apparent that, at least in the near-term, that the ETF flows narrative is gaining steam, and it is likely that the continuation of inflows will beget more flows.

BTC ETFs experienced a record-breaking day of net aggregate inflow on Wednesday, amassing nearly $700 million.

The video in this report is only accessible to members

The standout among these ETF products was Blackrock's IBIT, which alone accounted for over $600 million in net inflows.

The video in this report is only accessible to members

By Thursday morning, the total aggregate inflows had surpassed $7 billion, with IBIT on track to reach the $10 billion mark shortly.

The video in this report is only accessible to members
It is worth noting that the GBTC has started to see an uptick in outflows, with a notable $600 million total outflow by the end of Thursday. This movement is speculated to be a consequence of Genesis offloading GBTC assets to pay creditors amidst bankruptcy proceedings. Despite these substantial outflows, the BTC price has remained stabl...

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

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