Investors poured about $240 million into two blockchain-focused ETFs since their launch last week, according to the latest available data from FactSet.
Bitcoin has fallen nearly 7 percent in the last week to about $10,800 Friday on Coinbase, the leading U.S. exchange for major cryptocurrencies.
"It is rare for new ETFs to pull in such a large amount of cash," Todd Rosenbluth, CFRA's director of ETF and mutual fund research, wrote in an email, "But there has been pent-up demand for a thematic approach to gain exposure to Blockchain."
Amplify Transformation Data Sharing ETF, whose top holdings include Taiwan Semiconductor Manufacturing and Overstock.com, saw assets under management leap to $164.9 million Wednesday from just $2 million a week ago, according to FactSet.
The Reality Shares Nasdaq NexGen Economy ETF holds stocks such as IBM, which is developing a number of enterprise blockchain projects, and SBI Holdings, which is a prominent Japanese financial services company working with cryptocurrencies.
The BLCN ETF's assets under management multiplied just over nine times in a week to $86.27 million, FactSet data showed.
— FactSet (@FactSet) October 13, 2020. That raises fears of stock overvaluation that would later amount to considerable downside risk. In turn, it would put Bitcoin’s rally in danger of halting or reversing, as well. Still confused about bitcoin? Not sure what makes a chain made of blocks so special? How do you even buy a bitcoin? Here's 10 facts about the cryptocurrency every investor should know. 30. September 2020 Bitcoin Group SE veröffentlicht Halbjahresbericht 2020 - dynamische Zuwächse trotz herausforderndem Umfeld ... 25 Oktober 2020 Trotz der starken Performance von Bitcoin legt die Mehrheit der Top-100 Altcoins auch diese Woche im Kurs zu. Auffällig ist, dass unter den größten Gewinnern mehrheitlich Top-10 Altcoins zu ... NORWALK, Conn., Oct. 20, 2020 (GLOBE NEWSWIRE) -- FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading service ...
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