Bitcoin ETFs Bleed $1.25B as Memory Chip ETF Becomes Wall Street’s New Obsession
Last week noticed heavy outflows in crypto-related exchange-traded funds, whereas a reminiscence chip ETF turned one of many fastest-growing funds in historical past.
Bitcoin’s value didn’t chart notable positive aspects within the interim and is up by 0.6%. Many altcoins noticed related value motion, with a couple of exceptions, such as Hyperliquid’s HYPE, which soared by round 40%.
Crypto ETFs Face Heavy Redemptions as Investors Rotate Risk
As CryptoPotato reported yesterday, From May 18 to May 22, spot Bitcoin ETFs noticed a whopping $1.257 billion in web outflows.
This indicators a shift in investor urge for food. At the identical time, Ethereum-based ETFs additionally struggled, posting round $216 million in web outflows for a similar interval. The pullback means that traders are both taking earnings, lowering threat publicity, or rotating capital into different sectors, which can be extra interesting in the mean time.
That stated, not all crypto-associated exchange-traded funds suffered. Spot SOL ETFs attracted barely over $15 million in web flows, whereas spot XRP ETFs introduced in $22 million.
HYPE funds noticed even stronger demand, attracting $72.38 million in web inflows – a transfer that was largely reflected within the token’s value.
Fund flows present that whereas Bitcoin and Ethereum might have confronted promoting strain, traders are nonetheless taking bets throughout the broader crypto market, specializing in choose altcoins as a substitute.
DRAM’s Record-Breaking Rise Suggests a New ETF Frenzy
The Memory ETF, which trades below the ticker DRAM, has formally become the fastest-growing exchange-traded fund in historical past. It launched on April 2 and managed to build up upwards of $6.5 billion in belongings in simply 27 buying and selling classes.
With this, it beat the earlier report, held by the BlackRock IBIT Bitcoin ETF. It took 30 buying and selling classes to cross that degree.
DRAM has now surged by greater than 84% since its launch and topped $10 billion in belongings inside 30 buying and selling classes. This has additionally made it one of many prime 10 US ETFs by year-to-date inflows out of greater than 5,000 listed funds.
The explosive rise within the DRAM ETF exhibits that investor pleasure round reminiscence chips is mounting. The product is now among the many prime 20 most traded ETFs by quantity, exhibiting that the reminiscence chip and AI infrastructure commerce isn’t just gaining consideration – it’s changing into one of many hottest momentum performs on Wall Street.
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