CandleFocus Top Analyst Downplays Panic Over Bitcoin ETF Underperformance
2024-09-11
Author: Content Editor
ETF expert Eric Balchunas is dismissing concerns over the alleged failure of Bitcoin ETFs, highlighting the recent return of inflows to these products. The year-to-date inflows for Bitcoin ETFs have reached $17.1 billion, according to Balchunas. He mocks both cryptocurrency proponents and critics for their reactionary attitudes, noting that equity investors do not typically act this way. Despite experiencing periods of net outflows and negative sentiment, Bitcoin ETFs have once again rebounded with $117 million worth of inflows on Tuesday. Balchunas disagrees with claims that financial giant Vanguard regrets not launching a Bitcoin ETF, stating that the company does not care about Bitcoin and has no regrets.
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