Bitcoin remained the focus of investors seeing $2.8 billion worth of inflows.
Bitcoin ETFs See Record $2.4B Weekly Inflows; BlackRock’s IBIT Leads: CoinShares
Inflows significantly accelerated last week, indicating increasing demand for new spot-based ETFs, CoinShares’ head of research James Butterfill said.
Crypto Funds Saw $500M in Outflows Last Week as GBTC Bleed Outweighed Rivals’ Gains: CoinShares
Outflows from Grayscale’s GBTC now total $5 billion, but appear to be subsiding, CoinShares head of research James Butterfill noted.
Crypto Funds Saw $500M in Outflows Last Week as GBTC Bleed Outweighed Rivals’ Gains: CoinShares
Outflows from Grayscale’s GBTC now total $5 billion, but appear to be subsiding, CoinShares head of research James Butterfill noted.
Crypto Funds Attract Largest Weekly Inflow in 2023 as Bitcoin ‘Short-Sellers Capitulate’: CoinShares
Crypto investment funds last week attracted their largest inflow this year, extending their strongest run since the 2021 bull market as anticipation for a spot bitcoin [BTC] exchange-traded fund (ETF) continued to entice investors.
Crypto Fund Inflows of $293M Bring Yearly Total Above $1B: CoinShares
Ethereum related products witnessed the largest amount of inflows since August 2022.
Crypto Funds See $767M Six-Week Inflow, Best Since 2021 Bull Market: CoinShares
Bitcoin funds attracted most of the demand, while ether funds saw their largest inflows since August 2022.
Crypto Funds See Largest Inflow in 15 Months, With Bitcoin, Solana Leading Rally: CoinShares
Ether-based funds continue to fall out of favor, with outflows for the year now totaling $125 million.
Crypto Funds Vs Bitcoin Holders: Who Was The Better Performer In H1 2023
A new report has shown investors who held Bitcoin actually outperformed most cryptocurrency funds in the first half of 2023. This is because, between January and June, Bitcoin gained over 80% in value.
Crypto funds, on the other hand, on the other hand, returned only about 15.2% profits on average. While still a positive return, it lagged far behind what regular Bitcoin investors made by just buying and sitting tight.
21e6 Capital’s Crypto Fund Performance in H1 2023
According to a recently released report from Switzerland-based investment adviser 21e6 Capital AG, Bitcoin traders outperformed most crypto funds by 68.8% in H1.
This is not surprising, as BTC was one of the best-performing crypto assets in the first half of 2023, seeing massive gains from prospects of the SEC approving a Spot Bitcoin ETF. The price of Bitcoin started the year around $15,500 and climbed to over $31,400 in July.
Crypto funds on average generated 15.2% return in the first half of 2023 lol pic.twitter.com/vb8pwYfiX9
— Alex Krüger (@krugermacro) August 5, 2023
Bitcoin outperforming crypto funds is relatively new, as crypto hedge funds are frequently able to outperform the BTC benchmark in the past significantly. But the crypto industry ended 2022 with more of a gloomy sentiment, as the market witnessed regulatory uncertainties and the collapse of FTX and Terra.
This seems to have caused crypto hedge funds to take a safer approach, leaving them with larger-than-normal cash positions. When crypto is hot, that cash doesn’t appreciate like BTC would unless the funds’ assets perform significantly better than Bitcoin.
The report also noted that directional crypto funds generally outperformed non-directional crypto funds. Non-directional funds, like arbitrage, lending, and staking, do not depend on the market’s direction.
Outlook for Second Half of 2023: More Gains Ahead for Bitcoin?
21e6 Capital’s latest report shows the general sentiment of the crypto market. Crypto funds had a rough first half of 2023, with many closing down early this year. About 13% of crypto hedge funds shut this year, as a few of them have struggled to present a favorable value proposition to potential investors.
The price of Bitcoin seems to be struggling to break over $30,000, but the outlook for Bitcoin in the second half of 2023 still looks positive. If approved, the price of Bitcoin is expected to spike further in the coming months as major investment companies start to offer Spot Bitcoin ETFs.
This influx of capital could spark a fresh bull market for all cryptocurrencies, leading to further gains for BTC holders. This new volume could see the price of BTC rise above $30,000 once more.
At the time of writing, BTC is trading at $29,043.
BTC hodlers outperformed crypto funds by 69% in H1 2023: 21e6 Capital AG
21e6 Capital AG stated that crypto funds generally outperformed the price gains of BTC in previous bull runs, but ultimately suffered this year from having too much cash on hand and playing it safe.
Private Banking Firm With $14B Assets Starts First Crypto Fund of Spain
The fund will be accessible to professional investors only and will be audited by PwC.
Stellar, Ripple and Solana-Based Investment Funds See AUM Spike in July
The large gains began following Ripple’s partial court victory over the SEC in the middle of the month.
Crypto Investors Sour on Bitcoin Funds After Massive Inflows, Turn Instead to Ether and XRP
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Crypto Investment Funds See Outflows for Fourth Consecutive Week
Bitcoin-related products accounted for $38 million of the $54 million in total outflows.
Crypto Funds’ Bitcoin Holdings Rise as Investor Demand Rebounds
Fund managers have added about 4,000 bitcoins in recent weeks.
Digital Asset Outflows Continue for 6th Week Despite Bitcoin Price Surge
The data may reflect investors’ need for liquidity during the banking crisis, a CoinShares report says.
Three Aussie crypto funds halted as regulator cites non-compliance
Three funds tracking Bitcoin, Ethereum, and FileCoin have been issued interim stop orders by Australia’s market regulator due to “non-compliant” target market determinations.
‘Everything’s on sale’: Reddit founder, Galaxy and Genesis execs raise big money
776’s fund is called “Kryptos” and is set to capitalize on the current bear market when it launches in October.
JPMorgan now offers clients access to six crypto funds … but only if they ask
JPMorgan now offers access to six different crypto funds from GrayScale, Osprey Funds and NYDIG.
Bitcoin Fund Outflows Slow but Investors Start Exiting Ether Funds
The amount of money leaving was significantly less than the previous, record week of $141 million.