Is there a connection between the Bitcoin ETFs flows and tech stocks?

Bitcoin ETFs report, April 2024

Bitcoin's price is stuck between $60k and $70k. And as it turns, in aggregate, the Bitcoin ETFs haven't been net buyers. That's one more sign of the importance of the ETFs flows to the big trend.

Understanding what influences the Bitcoin ETFs flows (and what does not) is critical to know where we are at in the big cycle.

So let's take a look at the current situation and try to understand if there are ties between the Bitcoin ETFs flows and the tech stocks ETFs flows.

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Is there a connection between the Bitcoin ETFs flows and tech stocks?

The takeaway

The demand coming from the Bitcoin ETFs is the main driver for Bitcoin’s price in this market. But right now GBTC is dragging the aggregate of the ETFs down. And that is causing the demand to be flat.

It is hard to know what drives the ETFs flows (outside of GBTC) which means it is hard to get a good idea about where the demand is headed. So far we have not found any correlation between those flows and that of other major ETFs.

So while the long term potential for growth hasn’t changed, the short term dynamic remains hard to predict.

Inflows are flat