Since then, the S&P 500, an index of large US stocks, has shed roughly 5% of its value, according to data from Google Finance. Bitcoin (BTC), meanwhile, has been comparatively resilient. On April 22, the cryptocurrency’s spot price reclaimed $90,000 per coin for the first time in six weeks, with Bitcoin ETFs clocking nearly $1 billion in net inflows. The cryptocurrency trades above $93,000 as of April 23, according to data from Google Finance.“Even in the wake of recent tariff announcements, BTC has shown some signs of resilience, holding steady or rebounding on days when traditional risk assets faltered,” Binance, the world’s largest cryptocurrency exchange, said in an April research report. Bitcoin has often been referred to as “digital gold” but the cryptocurrency still has a weak correlation to the safe haven asset and trades more in line with equities, Binance said.
Traders are embracing diametrically opposed exchange-traded fund (ETF) strategies in a bid to navigate one of the most unpredictable financial markets in recent history, according to data from Bloomberg Intelligence. The year-to-date has seen record inflows to ETFs providing leveraged long exposure to volatile assets such as stocks and cryptocurrencies, as well as funds holding risk-off assets such as cash and gold, the data shows. “[T]here's basically record flows going into leveraged long ETFs but also cash and gold ETFs as people buy the dip and hedge the dip at the same time.May the best degen win! ,” Bloomberg Intelligence analyst Eric Balchunas said in an April 23 post on the X platform.
Meanwhile, inflows into cash and gold funds approached roughly $4 billion. Net inflows into leveraged long ETFs and cash and fold ETFs.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Alex O’Donnell
The story "Traders pour into leveraged ETFs, gold in bid to weather volatility — Bloomberg" has 482 words across 17 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Traders pour into leveraged ETFs, gold in bid to weather volatility — Bloomberg" was covered 13 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 33 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
