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Crypto

Bitcoin ETF flows track price trends rather than signal direction, analysis finds

Bitcoin spot exchange-traded fund flows appear to follow existing price trends rather than act as a leading indicator, an analysis found. DWF Labs reviewed 694 trading days since spot ETFs launched in January 2024. Outflows occurred in 7 of 8 instances when bitcoin fell 15 percent or more, while inflows were recorded in all 9 periods of gains of 15 percent or more. The correlation with prior five-day moves was 0.54, versus 0.03 for subsequent five-day moves.

Crypto

Bitcoin stays rangebound as Fed hike fears ease, focus turns to U.S. data

Bitcoin may continue trading in a range with no clear direction even as concerns about further U.S. rate hikes have eased, a report said. CoinShares said stronger-than-expected U.S. inflation and consumption data briefly lifted expectations of another hike, but those odds fell after Fed Chair Kevin Warsh did not signal additional tightening. Bitcoin has already come under pressure, and crypto investment products saw outflows last week. Investors are focused on upcoming U.S. data including PCE inflation, the jobs report and CPI.

Crypto

Thailand moves to launch first crypto ETFs; CoinShares sees limited early inflows

Thailand is set to allow Bitcoin and Ethereum spot exchange-traded funds to list on the Stock Exchange of Thailand from Oct. 17, opening access for local retail investors. Digital asset manager CoinShares said initial inflows into the first products are likely to be in the tens of millions of dollars, rather than billions. It said additional approvals, custody and distribution arrangements are still required before trading can begin.