3 Stocks to Watch as Bitcoin Spot ETFs Witness Large Outflows

Zacks05-03

The 10 leading Spot Bitcoin ETFs in the United States witnessed record-breaking outflows last Wednesday. This is the first time since their launch in the second week of January that these path-...

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This is the first time since their launch in the second week of January that these path-...</p>\n\n<a href=\"https://finance.yahoo.com/news/3-stocks-watch-bitcoin-spot-120300912.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks to Watch as Bitcoin Spot ETFs Witness Large Outflows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks to Watch as Bitcoin Spot ETFs Witness Large Outflows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-03 20:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/3-stocks-watch-bitcoin-spot-120300912.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The 10 leading Spot Bitcoin ETFs in the United States witnessed record-breaking outflows last Wednesday. This is the first time since their launch in the second week of January that these path-...</p>\n\n<a href=\"https://finance.yahoo.com/news/3-stocks-watch-bitcoin-spot-120300912.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FDN","symbol_name":"First Trust Dow Jones Internet I","start_time":0,"source_url":"https://finance.yahoo.com/news/3-stocks-watch-bitcoin-spot-120300912.html","article_id":"2432903308","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/V0nsg06o4v9O3lV4rYXXFA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/edb25d10e45af60c5d4a41341d213d75"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432903308","pubTimestamp":1714737780,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The 10 leading Spot Bitcoin ETFs in the United States witnessed record-breaking outflows last Wednesday. This is the first time since their launch in the second week of January that these path-breaking crypto products have come under such pressure. On May 1, Spot Bitcoin ETFs recorded a staggering outflow of $563.7 million.This massive sell-off follows the Fed meeting that was hosted between Apr 30 and May 1. At the conclusion of the meeting, Fed Chair Jerome Powell announced the decision to hold interest rates at their current levels. Markets were expecting a timeline for the first rate cut to be announced at the meeting. However, the central bank’s decision to keep rates unchanged and not commit to a timeline swiftly affected Bitcoin’s  price, bringing it down.Fidelity Wise Origin Bitcoin Fund FBTC experienced the largest outflow of $191.1 million, followed by Grayscale Bitcoin Trust ETF GBTC, which lost approximately $167.4 million. iShares Bitcoin Trust, managed by global asset man","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FDN":"First Trust Dow Jones Internet I","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","EZBC":"Franklin Bitcoin ETF","BTC":"ClearShares Piton Intermediate Fixed Income ETF","LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","BRRR":"Valkyrie Bitcoin Fund","IBIT":"iShares Bitcoin Trust","WT":"智慧树投资","HODL":"VanEck Bitcoin Trust ETF","GBTC":"Grayscale Bitcoin Trust","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","BLK":"贝莱德","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","DEFI":"Hashdex Bitcoin ETF","BK4534":"瑞士信贷持仓","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","FBTC":"Fidelity Wise Origin Bitcoin Fund","BK4581":"高盛持仓","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IVZ":"美国景顺集团","BITB":"Bitwise Bitcoin ETF","BK4588":"碎股","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","BITO":"ProShares Bitcoin Strategy ETF","BK4594":"比特币ETF概念","BTCO":"Invesco Galaxy Bitcoin ETF","BK4504":"桥水持仓","BTCW":"WisdomTree Bitcoin Fund"},"translate_title":"3只股票值得关注，因为比特币现货交易所交易基金见证了大量资金外流","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WT":1,"GBTC":1,"FBTC":1,"BTC":1,"BLK":1,"US3Y.BOND":0.9,"US30Y.BOND":0.9,"US5Y.BOND":0.9,"US2Y.BOND":0.9,"US6M.BOND":0.9,"US12M.BOND":0.9,"US10Y.BOND":0.9,"IVZ":0.9,"IBIT":0.9,"US7Y.BOND":0.9,"FDN":0.9,"BITO":0.79,"BRRR":0.79,"BITB":0.79,"HODL":0.79,"BTCO":0.79,"BTCW":0.79,"EZBC":0.79,"DEFI":0.79,"US912797HH31.BOND":0.6,"US912797HG57.BOND":0.6,"US912797HE00.BOND":0.6,"US912797GW17.BOND":0.6,"US912797GL51.BOND":0.6,"US912797GK78.BOND":0.6,"US912797GB79.BOND":0.6,"US912797FS14.BOND":0.6,"US912797FH58.BOND":0.6},"content_text":"The 10 leading Spot Bitcoin ETFs in the United States witnessed record-breaking outflows last Wednesday. This is the first time since their launch in the second week of January that these path-breaking crypto products have come under such pressure. On May 1, Spot Bitcoin ETFs recorded a staggering outflow of $563.7 million.\nThis massive sell-off follows the Fed meeting that was hosted between Apr 30 and May 1. At the conclusion of the meeting, Fed Chair Jerome Powell announced the decision to hold interest rates at their current levels. Markets were expecting a timeline for the first rate cut to be announced at the meeting. However, the central bank’s decision to keep rates unchanged and not commit to a timeline swiftly affected Bitcoin’s (BTC) price, bringing it down.\nFidelity Wise Origin Bitcoin Fund FBTC experienced the largest outflow of $191.1 million, followed by Grayscale Bitcoin Trust ETF GBTC, which lost approximately $167.4 million.  iShares Bitcoin Trust, managed by global asset management company BlackRock, saw $36.9 million in outflows. \nWith the price of Bitcoin going below the $58,000 mark on Wednesday, an event that most likely sparked the ETF discount, investor optimism is currently not at a very high level. However, the nature of ETF markets ensures that there are days of steady outflows, especially when the Fed is far from dovish. With the price of BTC pushing the $60,000 level again, it remains to be seen whether the outflows recede.\nAt this juncture, one must track some of the major spot Bitcoin ETF applicants to understand the impact this might have on them. These are some of the biggest names in the traditional marketplace that have decided to explore the crypto space in recent months.\nBlackRock, Inc. BLK: This enterprise risk management and fixed-income institutional asset manager applied to launch a crypto exchange-traded fund in June 2023. BlackRock is the world’s largest asset manager. BlackRock’s expected earnings growth rate for the current year is 9.1%. BLK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nInvesco Ltd. IVZ: This investment management company had first filed for a Bitcoin ETF in 2021 but dropped it in October of the same year. However, in June of 2023, it joined the race to be the first investment industry giant to launch a Bitcoin ETF. Invesco’s expected earnings growth rate for the current year is 9.3%. IVZ currently carries a Zacks Rank #3.\nWisdomTree, Inc. WT:This ETF sponsor and asset manager also joined the crypto ETF race by applying for one in June 2023. WisdomTree’s expected earnings growth rate for the current year is 51.4%. WT currently carries a Zacks Rank #2 (Buy).\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBlackRock, Inc. (BLK) : Free Stock Analysis Report\nInvesco Ltd. (IVZ) : Free Stock Analysis Report\nGrayscale Bitcoin Trust ETF (GBTC): ETF Research Reports\nWisdomTree, Inc. (WT) : Free Stock Analysis Report\nFidelity Wise Origin Bitcoin Fund (FBTC): ETF Research Reports\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432903308"}