Crypto Investments and Tech Stocks: What to Expect in the Short Term
As a top investment manager and financial market journalist, I bring you the latest insights on the rebound of crypto prices and the performance of tech stocks after last week's market slump. In the short term, the trend of crypto investments is likely to mirror the performance of tech stocks and overall risk appetite, which has been somewhat subdued.
JPMorgan's analysts have noted ongoing outflows in both Ether and Bitcoin ETFs, with Ether ETFs experiencing $105 million in net sales and Bitcoin ETFs seeing $169 million in net redemptions. Spot Ether exchange-traded funds in U.S. bourses also recorded negative flows, with $16 million in net outflows on their 16th trading day.
Grayscale's Ethereum Trust (ETH) fund led the outflows with a reduction of $42 million, while BlackRock's iShares Ethereum Trust ETF attracted $20 million in sales, pushing its total net flows to over $900 million since launch.
Meanwhile, U.S. spot Bitcoin ETFs suffered net redemptions of $90 million, with Grayscale's Grayscale Bitcoin Trust (BTC) leading outflows at $77 million. On the other hand, BlackRock's iShares Bitcoin Trust managed to bring in $10 million in sales.
In summary, while there have been outflows in both crypto investments and tech stocks, there are still opportunities for growth and positive performance. It's important for investors to stay informed and monitor market trends to make well-informed decisions about their finances.