Bernstein comments on slowdown in ETF flows and maintains price target at $150,000

Bernstein analysts recently commented on the slowdown in flows from Bitcoin Exchange Traded Funds (ETFs), according to information from The Block. The company’s experts highlighted their lack of concern with the current scenario of ETFs on the market, hoping that this trend is just a “short-term pause”.

The pause highlighted by analysts would come before the market’s largest cryptocurrency manages to resume its bullish run towards the $150,000 price target by the end of next year.

In a note released on April 29, analysts from the research and brokerage company Bernstein, Gautam Chhugani and Mahika Sapra highlighted the motivations for the slowdown in ETF flows in the market. “Bitcoin ETF flows have slowed, with the ‘halving’ catalyst and successful ETF launch advancing BTC returns YTD (up 46%).”

Still on the occasion, crypto experts emphasized that they do not believe that the current slowdown in spot Bitcoin ETF flows is a worrying trend for the industry.

“We do not expect the Bitcoin ETF slowdown to be a concerning trend, but we believe it is a short-term pause before ETFs become more integrated with private banking platforms, wealth advisors, and even more brokerage platforms.”

Since peak daily net inflows of $1.05 billion reached amid the market’s bull rally on March 12, inflows into spot bitcoin ETFs have seen a notable slowdown. During the bull run recorded in March, the market’s largest cryptocurrency surpassed its all-time high price to trade at $73,737.94. Comparatively, the current price is 15.51% lower than Bitcoin’s historical peak.

At the time of publication, the price of Bitcoin was quoted at US$62,443.91, down 1.6% in the last 24 hours.

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