The iShares Bitcoin Trust ETF (IBIT) ended the week on a flat note. It is now up 3.82% over the last 5 days and 8.76% higher in the year-to-date.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
According to technical analysis, the IBIT has a Buy consensus based on 8 Bearish, 2 Neutral, and 12 Bullish ratings.
Based on the activity of 848,813 investors in the recent quarter, the IBIT has a better-than-sector-average Positive investor sentiment. Overall, 1.8% of all portfolios hold the IBIT.
Today’s IBIT Performance
Today, the IBIT was down 0.13% at $53.93. The price of Bitcoin was down 0.43% at $95,171.
Investors have a lot to digest with uncertainty over interest rate cut prospects, the U.S. economy, tech strength and geopolitics. It is why many are choosing to be risk-off at present.
However, Jefferies (JEF) was decisive today. It completely removed its Bitcoin position from its leading “Greed & Fear” model portfolio, a decision driven by new concerns over technological security. The firm’s global head of equity strategy, Christopher Wood, announced he is shifting that 10% allocation back into gold and gold-mining stocks.
Power up your ETF investing with TipRanks. Discover the Best AI ETFs, carefully curated based on TipRanks’ analysis.