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Spot Bitcoin ETF Flows Soar Amid Crypto Surge

ETF.com sent this email to their subscribers on February 12, 2024.

Inflows topped $405 million on Thursday, their third largest total since SEC's January approval of the funds. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Inflows topped $405 million on Thursday, their third largest total since SEC's January approval of the funds. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Morning<Exchange Good morning, How much impact can one stock have on an index fund?  A lot—if that stock is Nvidia.  Shares of the chip company are up an eye-popping 45% so far this year, equal to a market cap gain of $545 billion. That’s no small amount, even for a broad, large cap index fund like the SPDR S&P 500 ETF Trust (SPY). This year’s surge in Nvidia accounts for 1.25 percentage points of the ETF’s 50% return. If Nvidia sticks around this level, its potential pull on the ETF is going to be even greater moving forward. Today, the stock has a 4.1% weighting in the S&P 500, behind only Apple and Microsoft.  For ETFs targeting narrower indices, Nvidia’s impact is more magnified. The VanEck Semiconductor ETF (SMH) owes eight percentage points of this year’s 14% gain to the stock.  Nvidia comprises a quarter of the ETF’s portfolio, much more than even the 10% position it has in the other big semiconductor exchange-traded fund, the iShares Semiconductor ETF (SOXX). By Sumit Roy BitCoin Chart BITCOIN SPOT BITCOIN ETF FLOWS HIT $8.6B AMID CRYPTO SURGE Net inflows to spot bitcoin ETFs headed toward $9 billion on Thursday amid a price surge in the cryptocurrency.  Inflows hit $405 million for the day, the third largest total since the SEC approved the new products in early January, according to Bloomberg data. Grayscale’s Bitcoin Trust (GBTC) was the outlier, suffering more than $101 million in outflows to continue its losing streak. Not counting GBTC, flows are at $8.56 billion, the data show. Read More Facebook icon X icon LinkedIn icon Zooming chart EQUITY MARKETS S&P 500 CLOSES ABOVE 5,000 FOR FIRST TIME The S&P 500 closed above 5,000 points for the first time, as investors continued piling into the artificial intelligence and other technology companies that have pushed the index higher, betting those stocks have fuel in the tank for future runs. The index has gained 5.4% this year, adding to last year's 28% jump. The $486.6 billion SPDR S&P 500 ETF Trust (SPY), the largest exchange-traded fund, closed above $500 for the first time, finishing the day at $501.16. Read More Facebook icon X icon LinkedIn icon Cash and a post it note dividends DIVIDENDS DIVIDEND ETFS VS STOCKS: COMPARISON GUIDE Should you invest in dividend ETFs, or is it better to invest in dividend stocks? As always, the answer depends on several factors, including an investor’s financial goals, risk tolerance and investing style. Read on to learn the similarities, differences and risks of dividend ETFs versus dividend stocks. Read More Facebook icon X icon LinkedIn icon PODCAST GMO has a long, storied history in the asset management space. A few months ago, the firm began writing a new chapter with the unveiling of its first exchange-traded fund, the GMO U.S Quality ETF (QLTY). In this episode of Exchange Traded Fridays, Tom Hancock, partner at GMO, sits down with etf.com  senior analyst Sumit Roy and etf.com  wealth management editor Jeff Benjamin to discuss QLTY, as well as what other plans GMO has in the ETF space. Listen Now LISTEN ON: Apple Podcast | Spotify | Google MORE EXCHANGE ETF Investors Weigh Troubling NYCB Downgrade Moody’s decision to cut the bank’s rating to junk status raised concerns about a repeat of 2023’s regional banking carnage. Read More Advisors Lean Into Alternative Investments With financial markets at lofty levels, the timing may be right to diversify into alts, say several advisors. Read More KraneShares Launches Buffered China Internet ETFs Many China focused ETFs have performed poorly this year. Read More On-Demand Webinar: Embracing a New Era of Geopolitical Risks. Catch our on-demand webinar as experts from Xtrackers by DWS discuss how to potentially mitigate geopolitical risk in a portfolio. Watch Now VIDEO Now that the SEC has approved spot bitcoin ETFs, are spot ether ETFs imminent? Not so fast, says Marc D’Annunzio, general counsel at Bakkt, a publicly traded company focused on crypto trading and custody. In this episode of Talk ETFs, etf.com senior analyst Sumit Roy sits down with D’Annunzio to learn more. They also discuss why custody is so important when it comes to spot bitcoin ETFs, as well as the origins of Bakkt, a firm that is majority-owned by the New York Stock Exchange’s parent company. Watch Now  LinkedIn Icon  X Icon  Instagram Icon  Facebook Icon  YouTube Icon Advertise With Us Want more ETF news delivered straight to you?  Register for free at etf.com for unlimited access to news and trusted data, and gain expert analysis from our other exclusive subscriber-only newsletters. You received this message because you are subscribed to etf.com’s Morning Exchange newsletter. If a friend forwarded you this message, sign up here. 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