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Crypto

BlackRock buys $151.46 million of bitcoin as it recovers $81,000 level

BlackRock resumed buying bitcoin worth $151.46 million as the cryptocurrency recovered the $81,000 level. U.Today said the purchase was seen as a sign that institutional money was moving again after weeks of volatility. The buying coincided with renewed demand for BlackRock\'s spot bitcoin ETF, IBIT. SoSoValue data showed $175.99 million in net inflows to spot bitcoin ETFs that day, with most going to BlackRock.

Crypto

Bitcoin beats S&P 500 on most trading days, but monthly performance lags

Bitcoin has again topped the S&P 500 on more than half of trading days, but it continues to lag in month-to-date performance. Data cited by CryptoSlate showed Bitcoin’s daily relative win rate versus the S&P 500 recovered from about 20 percent in June to above 50 percent recently. From Oct. 1 to Oct. 26, Bitcoin outperformed on 10 of 18 sessions but fell 4.25 percent while the S&P 500 rose 0.33 percent. Flows concentrated in BlackRock’s iShares Bitcoin Trust, while spot demand remained weak and downside hedging demand increased in options.

Crypto

Ethereum down 13 percent in a month as ETF outflows continue

Ethereum has fallen about 13 percent over the past 30 days, underperforming bitcoin, and its weakness has also shown in the ETH/BTC ratio. Spot ether exchange-traded funds have seen continued outflows, including $110.6 million in net redemptions on Oct. 22, data showed. Outflows were led by BlackRock’s iShares Ethereum Trust, while Fidelity’s fund recorded a small inflow.