Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Bitcoin ETF March Monthly Report: Insights into Performance Trends
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The post Bitcoin ETF March Monthly Report: Insights into Performance Trends appeared first on Coinpedia Fintech News
Enter the realm of Bitcoin ETFs, a burgeoning trend that recently gained significant momentum, particularly following the recent approval by the US SEC of approximately 11 Bitcoin Spot ETFs.
The monthly analysis, which delves deep into the performance of both Bitcoin Futures ETS and Spot ETFs, aims to provide invaluable insights for all, including newcomers. This dissects key metrics, including one-month average volume, expense ratio, one-month return, and net fund flow. But that is not all – this exploration goes beyond the numbers, offering an in-depth technical analysis to unveil hidden insights.
Get ready to gain a deeper understanding of the ETF landscape.
1. Bitcoin Futures ETF In-Depth Analysis
At the time of performing this analysis, BITO, XBTF, BTF, BITS, ARKA, DEFI, BITC, BETH, BETE, ARKC, and ARKY are the prominent players in the Bitcoin Futures ETF market.
| Bitcoin Futures ETF | AUM |
| ProShares (BITO) | $598.78M |
| VanEck (XBTF) | $42.41M |
| Valkyrie (BTF) | $38.20M |
| Global X (BITS) | $26.10M |
| Ark/21 Shares (ARKA) | $8.01M |
| Hashdex (DEFI) | $5.00M |
| Bitwise (BITC) | $4.55M |
| ProShares (BETH) | $4.43M |
| ProShares (BETE) | $2.45M |
| Ark/21 Shares (ARKC) | $1.20M |
| Ark/21 Shares (ARKY) | $614.70K |
Among them, BITO, XBTF, BTF, BITS, ARKA, DEFI, and BITC are the top seven Bitcoin Futures ETFs, on the basis of Asset Under Management.
Let’s analyse these top Bitcoin Futures ETFs deeply using various parameters.
1.1. Bitcoin Futures ETF: A Basic Data Overview
This basic data overview gives an overall picture of the top player’s performance.
| Bitcoin Futures ETF | Price | Volume | 1 Month Average Volume | AUM | Shares |
| ProShares (BITO) | $30.11 | 23,632,100 | 29,578,224 | $598.78M | 94.5M |
| VanEck (XBTF) | $39.22 | 51,752 | $42.41M | 1.1M | |
| Valkyrie (BTF) | $19.92 | 87,600 | 100,309 | $38.20M | 2.8M |
| Global X (BITS) | $69.35 | 15,900 | 17,705 | $26.10M | 0.4M |
| Ark/21 Shares (ARKA) | $64.28 | 2,700 | 9,136 | $8.01M | 0.3M |
| Hashdex (DEFI) | $75.96 | 12,000 | 9,645 | $5.00M | 0.4M |
| Bitwise (BITC) | $51.38 | 11,700 | 18,295 | $4.55M | 0.1M |
Let’s go beyond what the basic data communicates.
1.2. Bitcoin Futures ETF Monthly Average Volume Analysis
| Bitcoin Futures ETF | 1 Month Average Volume |
| ProShares (BITO) | 29,578,224 |
| VanEck (XBTF) | 51,752 |
| Valkyrie (BTF) | 100,309 |
| Global X (BITS) | 17,705 |
| Ark/21 Shares (ARKA) | 9,136 |
| Hashdex (DEFI) | 9,645 |
| Bitwise (BITC) | 18,295 |
In the Bitcoin Futures ETF Monthly Average Volume Analysis, ProShares (BITO) emerges as the dominant player, boasting 29,578,224 trades on average per month. VanEck (XBTF) follows with a significantly lower volume of 51,752 trades. Valkyrie (BTF) maintains a moderate volume at 100,309 trades.
Meanwhile, Bitwise (BITC), Global X (BITS), and Hashdex (DEFI) exhibit relatively lower activity, recording 18,295, 17,705, and 9,645 trades respectively. Ark/21 Shares (ARKA) trails with 9,136 trades on average per month.
1.3. Bitcoin Futures ETF Expense Ratio Analysis
The below data compares the cost efficiency of a Bitcoin Futures ETF to its peers.
| Bitcoin Futures ETF | Expense Ratio (in %) |
| ProShares (BITO) | 0.95% |
| VanEck (XBTF) | 0.76% |
| Valkyrie (BTF) | 1.24% |
| Global X (BITS) | 0.65% |
| Ark/21 Shares (ARKA) | 0.70% |
| Hashdex (DEFI) | 0.94% |
| Bitwise (BITC) | 0.85% |
In the Bitcoin Futures ETF Expense Ratio Analysis, Valkyrie (BTF) holds the highest expense ratio at 1.24%, indicating higher costs of investors. ProShares (BITO) follows closely with a 0.95% ratio. Hashdex (DEFI) and Bitwise (BITC) stand at 0.94% and 0.85% respectively. VanEck (XBTF) maintains a moderate ratio of 0.76%. Ark/21 Shares (ARKA) and Global X (BITS) present lower expense ratios of 0.70% and 0.65% respectively, suggesting relatively more cost-effective options.
1.4. Bitcoin Futures ETF Performance Analysis
This data shows how a Bitcoin Futures ETF has performed relative to its peers this month.
| Bitcoin Futures ETF | 1 Month Return (in %) |
| ProShares (BITO) | +22.58% |
| VanEck (XBTF) | -0.83% |
| Valkyrie (BTF) | +20.77% |
| Global X (BITS) | +3.62% |
| Ark/21 Shares (ARKA) | +23.16% |
| Hashdex (DEFI) | +20.73% |
| Bitwise (BITC) | +22.78% |
In the Bitcoin Futures ETF Performance Analysis, ARK/21 Shares (ARKA) emerges as the frontrunner with an impressive one-month return of +23.16%.
Following closely, Bitwise (BITC) and ProShares (BITO) exhibit strong performances at +22.78% and +22.58% respectively. Valkyrie (BTF) and Hashdex (DEFI) also demonstrate robust returns, both exceeding 20%.
Conversely, Global X (BITS) shows a modest return of +3.62%, while VanEck (XBTF) records a slight decline with -0.83%.
1.5. Bitcoin Futures ETF One Month Net Fund Flow Analysis
| Bitcoin Futures ETF | One Month Net Fund Flow |
| ProShares (BITO) | +189.47M |
| VanEck (XBTF) | -11.49M |
| Valkyrie (BTF) | +4.9M |
| Global X (BITS) | +4.03M |
| Ark/21 Shares (ARKA) | +1.77M |
| Hashdex (DEFI) | +0.61553M |
| Bitwise (BITC) | +5.32M |
In the Bitcoin Futures ETF One Month Net Fund Flow Analysis, ProShares (BITO) commands the highest influx with an impressive +$189.47 million. Following suit, Bitwise (BITC) and Valkyrie (BTF) attract +$5.32 million and +$4.9 million respectively.
Global X (BITS) also experiences a positive flow of +$4.03 million. Conversely, VanEck (XBTF) records the most significant outflow at -$11.49 million. Ark/21 Shares (ARKA) and Hashdex (DEFI) show modest yet positive inflows.
1.6. Bitcoin Futures ETF Technical Analysis
| Bitcoin Futures ETF | Williams % Range (20 Days) | MACD (15 Days) | 20 Day Moving Average | RSI (30 Days) | 20 Day Volatility | Price |
| ProShares (BITO) | 41.79 | -1.36 | $29.21 | 60 | 69.25% | $30.11 |
| VanEck (XBTF) | 50.58 | +0.54 | $39.19 | 54 | 42.50% | $39.22 |
| Valkyrie (BTF) | 52.10 | -1.48 | $20.15 | 58 | 69.10% | $19.92 |
| Global X (BITS) | 58.92 | -3.32 | $66.47 | 56 | 76.02% | $69.35 |
| Ark/21 Shares (ARKA) | 40.04 | -2.66 | $62.22 | 61 | 69.86% | $64.28 |
| Hashdex (DEFI) | 44.61 | -3.55 | $74.00 | 60 | 67.80% | $75.96 |
| Bitwise (BITC) | 41.29 | -2.27 | $49.85 | 60 | 70.98% | $51.38 |
In the Bitcoin Futures ETF Technical Analysis, a comprehensive examination of various metrics offers insights into each ETF’s performance and market dynamics.
Price data reveals a spectrum of values across ETFs. Hashdex (DEFI) commands the highest price at $75.96, reflecting investor confidence, while Valkyrie (BTF) presents the lowest price at $19.92, indicating potential undervaluation or weaker market sentiment.
Volatility, as indicated by the 20-day Volatility percentage, portrays Global X (BITS) as the most volatile at 76.02%, suggesting greater price swings and potentially higher risk. Meanwhile, VanEck (XBTF) displays relatively lower volatility at 42.50%, indicating steadier price movements.
The Relative Strength Index (RSI) over 30 days illustrates market momentum and whether an ETF is overbought or oversold. Ark/21 Shares (ARKA) exhibits the highest RSI at 61, signalling potential overbought conditions, while VanEck (XBTF) shows a lower RSI at 54, indicating relatively less overbought status.
Moving Averages, such as the 20-day Moving Average, provide insights into price trends. Most ETFs have prices above the 20-day moving average, except Valkyrie, with a 20-day moving average at $20.15 and a current price at $19.92. This discrepancy suggests potential weakness in Valkyrie’s price trend.
The Moving Average Convergence Divergence (MACD) measures momentum and trend strength. Negative MACD values for most ETFs suggest bearish signals, except for VanECK (XBTF), indicating potential divergence in trend direction.
The Williams % Range evaluates overbought or oversold conditions, with lower values indicating potential oversold conditions. Ark/21 Shares (ARKA) presents the lowest Williams % Range at 40.04%, suggesting possible oversold levels.
2. Bitcoin Spot ETF In-Depth Analysis
At the time of doing this analysis, GBTC, IBIT, FBTC, BTCO, ARKB, BITB, HODL, BRRR, EZBC, and BTCW are the prominent players in the Bitcoin Spot ETF market.
| Bitcoin Spot ETF | AUM |
| Grayscale (GBTC) | $27.68B |
| BlackRock (IBIT) | $15.42B |
| Fidelity (FBTC) | $9.19B |
| Invesco/Galaxy (BTCO) | $3.69B |
| Ark/21 Shares (ARKB) | $2.80B |
| Bitwise (BITB) | $2.01B |
| VanEck (HODL) | $0.5158B |
| Valkyrie (BRRR) | $0.4388B |
| Franklin Templeton (EZBC) | $0.2115B |
| WisdomTree (BTCW) | $0.0748B |
Among them, GBTC, IBIT, FBTC, BTCO, ARKB, BITB, HODL, and BRRR are the top eight Bitcoin Spot ETFs based on Asset Under Management.
Let’s analyse these top Bitcoin Spot ETFs using various parameters.
2.1. Bitcoin Spot ETF: A Basic Data Overview
This basic data overview offers an overall picture of the top player’s performance.
| Bitcoin Spot ETF | Price | Volume | 1 Month Average Volume | Shares | AUM |
| Grayscale (GBTC) | $58.75 | 21,844,400 | 22,406,482 | 424.1M | $27.68B |
| BlackRock (IBIT) | $37.55 | 71,309,203 | 55,696,752 | 416.6M | $15.42B |
| Fidelity (FBTC) | $57.59 | 18,122,400 | 16,855,732 | 154.3M | $9.19B |
| Invesco/Galaxy (BTCO) | $65.93 | 1,023,900 | 940,591 | 5.2M | $3.69B |
| Ark/21 Shares (ARKB) | $65.92 | 5,531,800 | 4,023,427 | 39.8M | $2.80B |
| Bitwise (BITB) | $35.94 | 3,981,800 | 4,215,941 | 54.2M | $2.01B |
| VanEck (HODL) | $74.60 | 500,400 | 947,695 | 7.0M | $515.80M |
| Valkyrie (BRRR) | $18.69 | 1,115,600 | 630,273 | 22.6M | $438.80M |
Let’s go beyond what the basic data conveys.
2.2. Bitcoin Spot ETF Average Volume Analysis
| Bitcoin Spot ETF | 1 Month Average Volume |
| Grayscale (GBTC) | 22,406,482 |
| BlackRock (IBIT) | 55,696,752 |
| Fidelity (FBTC) | 16,855,732 |
| Invesco/Galaxy (BTCO) | 940,591 |
| Ark/21 Shares (ARKB) | 4,023,427 |
| Bitwise (BITB) | 4,215,941 |
| VanEck (HODL) | 947,695 |
| Valkyrie (BRRR) | 630,273 |
In the Bitcoin Spot ETF Average Volume Analysis, BlackRock (IBIT) commands the market with an impressive monthly average volume of 55,696,752 trades. Grayscale (GBTC) follows suit with 22,406,482 trades, while Fidelity (FBTC) maintains a significant volume of 16,855,732 trades.
Bitwise (BITB) and Ark/21 Shares (ARKB) exhibit lower yet notable volumes at 4,215,941 and 4,023,427 trades respectively. VanEck (HODL) and Invesco/Galaxy (BTCO) demonstrate even lower activity, with Valkyrie (BRR) recording the least volume.
2.3. Bitcoin Spot ETF Expense Ratio Analysis
The below data compares the cost efficiency of a Bitcoin Spot ETF to its peers.
| Bitcoin Spot ETF | Expense Ratio (in %) |
| Grayscale (GBTC) | 1.50% |
| BlackRock (IBIT) | 0.12% |
| Fidelity (FBTC) | N/A |
| Invesco/Galaxy (BTCO) | 0.39% |
| Ark/21 Shares (ARKB) | 0.21% |
| Bitwise (BITB) | 0.20% |
| VanEck (HODL) | 0.25% |
| Valkyrie (BRRR) | 0.25% |
In the Bitcoin Spot ETF Expense Ratio Analysis, Grayscale (GBTC) presents the highest expense ratio at 1.50%, indicating relatively higher costs for investors. Following, Invesco/Galaxy (BTCO) stands at 0.39%, while both VanEck (HODL) and Valkyrie (BRR) share a ratio of 0.25%. Ark/21 Shares (ARKB) and Bitwise (BITB) exhibit ratios of 0.21% and 0.20% respectively. BlackRock (IBIT) maintains the lowest ratio among them all, at 0.12%.
2.4. Bitcoin Spot ETF Performance Analysis
This data shows how a Bitcoin Spot ETF has performed relative to its peers this month.
| Bitcoin Spot ETF | One Month Return |
| Grayscale (GBTC) | 24.05% |
| BlackRock (IBIT) | 23.90% |
| Fidelity (FBTC) | 24.04% |
| Invesco/Galaxy (BTCO) | 23.91% |
| Ark/21 Shares (ARKB) | 23.94% |
| Bitwise (BITB) | 23.99% |
| VanEck (HODL) | 23.91% |
| Valkyrie (BRRR) | 24.05% |
In the Bitcoin Spot ETF Performance Analysis, Grayscale (GBTC), Valkyrie (BRR), and Fidelity (FBTC) demonstrate robust performance with a one-month return of around 24.05%. Bitwise (BITB) closely follows at 23.99%, showcasing strong market performance.
Ark/21 Shares (ARKB) and Invesco/Galaxy (BTCO) exhibit similarly impressive returns at 23.94% and 23.91% respectively. VanEck (HODL) and BlackRock (IBIT) round out the analysis with solid returns of around 23.90%, reflecting positive trends across the board.
2.5. Bitcoin Spot ETF Net Fund Flow Analysis
| Bitcoin Spot ETF | 1 Month Net Fund Flow |
| Grayscale (GBTC) | -4940M |
| BlackRock (IBIT) | +7790M |
| Fidelity (FBTC) | +3220M |
| Invesco/Galaxy (BTCO) | -66.5M |
| Ark/21 Shares (ARKB) | +787.78M |
| Bitwise (BITB) | +471.82M |
| VanEck (HODL) | +294.54M |
| Valkyrie (BRRR) | +239.26M |
In the Bitcoin Spot ETF Net Fund Flow Analysis, BlackRock (IBIT) leads with a significant influx of +$7790 million, indicating strong investor interest. Fidelity (FBTC) follows closely with +$3220 million, while Ark/21 Shares (ARKB) attracts +$787.78 million.
Bitwise (BITB) and VanEck (HODL) also experience positive flows of +$471.82 million and +$294.54 million respectively, showcasing healthy investor confidence. Conversely, Grayscale (GBTC) and Invesco/Galaxy (BTCO) witness outflows of -$4940 million and -$66.5 million respectively.
2.6. Bitcoin Spot ETF Technical Analysis
| Bitcoin Spot ETF | Williams % Range (20 Days) | MACD (15 Days) | 20 Day Moving Average | RSI (30 Days) | 20 Day Volatility | Price |
| Grayscale (GBTC) | 40.06 | -2.40 | $56.71 | 60 | 68.74% | $58.75 |
| BlackRock (IBIT) | 40.44 | -1.56 | $36.28 | 59 | 69.34% | $37.55 |
| Fidelity (FBTC) | 40.15 | -2.34 | $55.65 | 57 | 68.96% | $57.59 |
| Invesco/Galaxy (BTCO) | 40.23 | -2.73 | $63.61 | 58 | 68.89% | $65.93 |
| Ark/21 Shares (ARKB) | 40.12 | -2.73 | $63.65 | 57 | 68.79% | $65.92 |
| Bitwise (BITB) | 40.06 | -1.47 | $34.71 | 57 | 68.75% | $35.94 |
| VanEck (HODL) | 40.31 | -3.12 | $72.03 | 57 | 69.40% | $74.60 |
| Valkyrie (BRRR) | 40.18 | -0.77 | $18.04 | 57 | 69.30% | $18.69 |
The technical analysis of Bitcoin Spot ETFs unveils intriguing patterns and trends crucial for informed investment decisions.
Examining the price figures, we observe a notable range in values, with the highest price commanded by VanEck’s ETF at $74.60, while Valkyrie trails significantly behind at $18.69.
Volatility emerges as a critical factor, with all ETFs exhibiting high volatility levels, averaging around 68-69%. Such volatility signifies substantial price swings within short periods, indicating a market environment ripe with both risk and opportunity.
Turning to the Relative Strength Index, most ETFs cluster around the mid-range, with Grayscale notably standing out with an RSI of 60, suggesting relatively stronger bullish momentum compared to its counterparts.
Analysing moving averages provides insights into the prevailing trend directions. Most the ETFs show a 20-day moving average below their current price, suggesting a potential uptrend. This indicates consistency between short-term performance and overall trend direction.
Lastly, the Williams % Range offers insights into overbought or oversold conditions. With values around 40% for most ETFs, the market appears to be in a neutral stance, neither overbought nor oversold.
Endnote
As we conclude our monthly analysis of Bitcoin ETFs, we unveil a tapestry of insights into both Bitcoin futures ETFs and Spot ETFs. Through meticulous examination of parameters like one-month average volume, expense ratio, one-month return, and net fund flow, we have illuminated the performance dynamics within these ETFs.
Btc
Bitcoin
$62.547
price
price
0.84959%
price change
Furthermore, our in-depth technical analysis has revealed hidden patterns and trends, providing a deeper understanding of market movements. As Bitcoin ETFs continue to shape the investment landscape, may this analysis serve as a beacon of guidance for investors, empowering them to navigate the complexities of ETF markets with confidence and clarity.
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Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…
2 years ago 1.6 k views
Tech
Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity
The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 574 views
Bit2Me Champions WEMIX Token in Pioneering European Listing
Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 404 views
CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades
In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 465 views
Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management
The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 592 views