MainSpring ETFs - Spot BTC Inflows Takeoff

8.28.2024 | Daily ETF Market Springboard

Author

Addison
August 28, 2024 • Estimated Reading Time: 10 minutes

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Wednesday, August 28th, 2024 

Data reflects end-of-day ETF market data for Tuesday, August 27th, 2024

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Upcoming Economic Events: 

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📅 Today: Wednesday, August 28th, 2024 

Slow Day….

  • Atlanta Fed President Raphael Bostic speech

What’s happening in the markets?

  • The S&P 500 rose slightly on Tuesday as investors looked ahead to a major earnings report later this week.

  • The broad market index gained 0.16% to close at 5,625.80, while the Nasdaq Composite crept 0.16% higher to end at 17,754.82. The Dow Jones Industrial Average rose 9.98 points, or 0.02%, to end at 41,250.50, its second record close in a row.

  • The Conference Board’s Consumer Confidence Index rose to 103.3 in August, which was above the consensus estimate among economists polled by FactSet of 100. The index was at 101.9 in July.

    • The personal consumption expenditures price index on Friday could add some drama to an otherwise quiet week ahead of the Labor Day holiday weekend in the U.S.

  • Investors are eager to see earnings from top artificial intelligence beneficiary Nvidia after Wednesday’s closing bell. Shares of the graphics processing unit manufacturer advanced about 1.5% on Tuesday. Nvidia has become a key bellwether for tech stocks and AI more broadly, and investors will look toward its fiscal second-quarter results to gauge the health of the AI trade.

  • Super Micro Computer (SMCI) stock fell more than 2% Tuesday following a report from short seller Hindenburg Research claiming, among other things, "accounting manipulation" at the AI high flyer.

    Maybe you heard the news about all the new crypto millionaires? The pace of inflows into bitcon ETFs has surprised everyone. Looking at the spot BTC ETFs, the picture paints itself. There has been a massive inflow into these new products which widens the accessibility and allows investors to included products in personal investment accounts as well as retirement accounts.

ETF Market Snapshot:

Global ETF Market Overview: 

Global ETF AuM

Data as of Yesterday

$13.13T

-0.06% since 8/27

Flows in ETFs

Year-to-date

+$800.57B

+0.74% since 8/27

Number of ETFs

Worldwide

10999

0.07% since 8/27

Most Traded ETFs Yesterday:

ETF (>$1B) Market Advancers / Decliners:

📈 Best Performing ETFs, last trading period:

 

📉 Worst Performing ETFs, last trading period:

Top Leveraged ETF Performers, last trading period:

Top and bottom ETFs of the week

💪 Best performance, rolling 1-week returns:

💀 Worst performance, rolling 1-week returns:

➡️ Most inflows, rolling 1 week flow data:

⬅️ Most Outflows, rolling 1 week flow data:

What I am reading today:

The number of bitcoin millionaires has soared 111% in the last year as the cryptocurrency rallies

The number of bitcoin millionaires has soared as the crypto rallies. There have also been six new crypto billionaires minted in the past year.

markets.businessinsider.com/news/currencies/bitcoin-millionaires-crypto-rally-cryptocurrency-etf-billionaires-sec-ethereum-wealth-2024-8

Five ETFs for Federal Reserve rate cuts

A cooling US economy puts pressure on the FOMC to follow other western central banks in cutting rates

www.etfstream.com/articles/five-etfs-for-federal-reserve-rate-cuts

5 Gold-Rated ETFs For Income

These high-yield equity ETFs are designed to offer regular, low-volatility dividends, regardless of market conditions

www.morningstar.co.uk/uk/news/253394/5-gold-rated-etfs-for-income.aspx

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.

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