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Eric Balchunas, who is best known in the crypto world after Bitcoin spot ETFs were accepted in the USA on January 10, said he expects more investments in Bitcoin funds this week.
“I think it’s FOMO”
Reviewing yesterday’s entries into Bitcoin spot ETFs via X, Balchunas described the situation as “FOMO”:
“IBIT, the Blackrock ETF, saw its highest volume in the last 6 months with $3.3 billion. It’s a bit strange that this is happening even though Bitcoin is only up 4%… so usually a crisis or ETF volume increases in a bearish. Of course, volume can increase from time to time. We saw that with the ARKK ETF in the last few days, I think It’s FOMO so, I think there will be big entries this week.
“Others are on the rise.”
Balchunas also said that these are Monday evening figures, and Tuesday evening volume figures will appear this evening. “I still think the FOMO is warranted,” said the noted analyst. “Although the IBIT ETF has the highest volume by far, other ETFs have also seen serious growth,” he said.
While Bitcoin spot ETFs in the US finished yesterday’s trading day with net inflows of $870 million, the figure was the highest investment seen since June 4. BlackRock’s IBIT ETF had a net investment of $642 million. The closest ETF to that was Fidelity’s FBTC fund with $133 million.
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