# Сопутствующие статьи по теме ETF

Новостной центр HTX предлагает последние статьи и углубленный анализ по "ETF", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Bitcoin Continues to Plunge, Whether MSTR Is Forced to Sell Becomes Focus

Bitcoin is undergoing a severe stress test as its price continues to decline, falling below key psychological levels and approaching the cost basis of major institutional holders like MicroStrategy. The drop has intensified concerns over liquidity and potential forced selling. MicroStrategy’s Executive Chairman Michael Saylor signaled intentions to continue accumulating Bitcoin, even as the company raised the dividend on its perpetual preferred shares to attract capital. However, high financing costs could strain cash flow if Bitcoin remains near or below its breakeven level. Analyst Jim Bianco highlights that the market is facing a “narrative exhaustion.” Around 10% of Bitcoin’s circulating supply is held by ETFs and MicroStrategy, with an average entry price of approximately $85,360. These positions are now at a collective unrealized loss of roughly $8,000 per Bitcoin, totaling about $7 billion. Bitcoin ETFs have seen net outflows for 10 consecutive days, reflecting weakening demand from earlier high-entry investors. MicroStrategy, though still marginally profitable, faces thinning buffers. Its aggressive funding strategy—offering high-yield preferred shares—underscores both its commitment and financial vulnerability. The broader concern is the lack of new catalysts. The “institutional adoption” narrative has largely played out, and without fresh demand drivers, the current high concentration of underwater institutional holdings could turn into a source of persistent selling pressure.

华尔街日报02/02 00:20

Bitcoin Continues to Plunge, Whether MSTR Is Forced to Sell Becomes Focus

华尔街日报02/02 00:20

Farewell to 24-Hour Delays: How to Predict ETF Fund Flows Through Premium Rates

The article explains how ETF premium/discount rates can predict daily fund flows for Bitcoin and ETH ETFs, bypassing the 24-hour delay of official data. A persistent negative premium (ETF trading below its net asset value) typically signals net outflows, as Authorized Participants (APs) arbitrage by buying cheap ETF shares, redeeming them for the underlying asset, and selling it. Conversely, a positive premium (ETF trading above NAV) predicts inflows, as APs buy the underlying asset to create new ETF shares to sell at the higher price. Statistical analysis from a 146-day period showed this indicator was accurate approximately 81-84% of the time. For instance, a week of sustained premiums below -0.15% in January 2026 preceded a $1.3 billion outflow and a significant price drop. The article cautions that the premium rate is not a standalone tool. Its effectiveness depends on normal market function and should be combined with other indicators for confirmation, such as: - ETF holdings changes - Futures basis and funding rates - Options Put/Call ratios - On-chain large transfers and exchange net flows Key usage tips include focusing on the persistence of the extremity of the premium rate (±1% is significant) and considering the asset's price context (e.g., negative premium at a price high may signal a top). The goal is to use this real-time data to gain an informational edge and validate trends.

marsbit02/01 05:37

Farewell to 24-Hour Delays: How to Predict ETF Fund Flows Through Premium Rates

marsbit02/01 05:37

Warsh Ends the 'Dollar Devaluation Trade'? Crypto Market Continues Plunge Over Weekend, Bitcoin Breaks Below $80,000 Mark

The cryptocurrency market experienced a significant sell-off over the weekend, with Bitcoin falling below the $80,000 mark to its lowest level since April of last year. The decline, which extended a month-long downward trend, was partly triggered by former President Trump’s nomination of Kevin Warsh as the next Federal Reserve Chair. Analysts suggest that Warsh’s expected hawkish stance on inflation may reduce the appeal of “sell America” trades, including bets against the U.S. dollar. During the sell-off, Bitcoin dropped as much as 10% to around $75,710, while Ethereum and Solana saw even steeper declines of over 17%. Approximately $1.6 billion in long and short positions were liquidated within 24 hours, with outflows from spot ETFs further indicating weak investor interest. Market observers noted particularly low retail engagement, with trading volumes expected to remain subdued in the near term. Notably, Bitcoin failed to attract safe-haven demand despite heightened geopolitical tensions between Israel and Iran, as well as a surge in gold and silver prices. Instead, traditional assets like precious metals and cash continued to be preferred shelters for investors concerned about fiat currency risks. Regulatory uncertainty in the U.S., including delays in crypto market structure legislation, also contributed to the negative sentiment. Warsh nomination appears to have reversed earlier strong rallies in cryptocurrencies, gold, and silver, as markets anticipate a less interventionist Fed under his potential leadership.

华尔街日报02/01 01:54

Warsh Ends the 'Dollar Devaluation Trade'? Crypto Market Continues Plunge Over Weekend, Bitcoin Breaks Below $80,000 Mark

华尔街日报02/01 01:54

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