Crypto recovery remains slow despite global liquidity boost: Wintermute

**Why Crypto Markets Are Not Bouncing Back Despite Favorable Macroeconomic Conditions: Insights from Wintermute**

Global liquidity is rising, stocks are soaring, and interest rates are falling — yet the cryptocurrency market continues to underperform. According to Wintermute’s latest market update dated November 3, despite a supportive macroeconomic environment, capital is not flowing into crypto markets at the same pace as other risk assets.

### Expanding Liquidity but Limited Crypto Inflows

The report highlights that global liquidity is expanding as central banks cut interest rates and wind down quantitative tightening (QT). Stock markets are sitting near all-time highs, reflecting overall positive financial conditions. However, this improvement has not translated into substantial inflows into the crypto space.

Wintermute attributes this underperformance to a redirection of liquidity. While inflows are primarily targeting equities, particularly sectors like artificial intelligence (AI) and prediction markets, crypto-specific channels have largely stalled.

### Slowdown in Key Crypto Growth Drivers

Earlier in the year, ETF inflows and Digital Asset Treasury (DAT) activities were significant drivers of crypto growth. Today, both have significantly slowed. The report notes: “The tap isn’t off, it’s just pointed somewhere else.”

The only crypto-related metric still showing growth is stablecoin supply, which has increased by over $100 billion year-to-date. In contrast, Bitcoin ETF assets under management have stagnated near $150 billion, and secondary DAT volumes have plummeted.

### Market Performance Reflects the Trends

Market data echoes this slowdown. Bitcoin (BTC) and Ethereum (ETH) have remained range-bound, with Bitcoin trading near $101,000 and Ethereum around $3,300. Meanwhile, the broader crypto market has recently experienced heavy losses, with gaming tokens, layer-2 solutions, and meme coins suffering double-digit declines over the past week.

### Wintermute Declares the Four-Year Bitcoin Cycle “Dead”

Wintermute challenges the traditional four-year Bitcoin cycle theory, arguing that it no longer holds relevance. The firm contends that in mature markets like crypto, price movements are now driven primarily by liquidity flows rather than miner supply or halving events.

This represents a fundamental shift requiring investors to adjust expectations and place greater emphasis on monitoring macroeconomic conditions and institutional behaviors.

### Crypto Market Structure Remains Healthy

Despite the current stagnation, Wintermute emphasizes that the crypto market structure remains fundamentally healthy. Leverage has been significantly reduced, volatility is subdued, and market positioning is cleaner compared to earlier in the year.

The firm remains cautiously optimistic that renewed ETF or DAT inflows could trigger the next leg of the crypto recovery. However, for now, crypto remains the weakest performer among global risk assets.

### Outlook: Recovery Hinges on Capital Inflows

Bitcoin and Ethereum ETFs have recently seen a five-day outflow streak. Until capital starts flowing back into crypto-specific instruments, a robust recovery will likely remain elusive — even in an environment characterized by abundant liquidity.

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**In summary, while macroeconomic conditions are favorable, capital redirection and stalled inflows have kept crypto markets subdued. Investors should monitor liquidity trends closely to identify signs of a potential turnaround in this evolving landscape.**
https://bitcoinethereumnews.com/crypto/crypto-recovery-remains-slow-despite-global-liquidity-boost-wintermute/

BlackRock Expands Bitcoin ETF Reach With Upcoming ASX Listing

BlackRock Expands Crypto Footprint to Australia with Bitcoin ETF

The world’s largest asset manager, BlackRock, is extending its crypto footprint to Australia by introducing a Bitcoin exchange-traded fund (ETF). This move signals deepening institutional adoption of digital assets and highlights Bitcoin’s growing role in global investment strategies.

BlackRock Pushes Bitcoin ETF to a New Frontier

BlackRock is bringing its flagship Bitcoin ETF to Australia, aiming to replicate the success of its U.S. counterpart while tapping into a growing appetite for digital assets in the region. The ASX-listed iShares Bitcoin ETF (IBIT) is expected to debut later this month, offering local investors direct exposure to Bitcoin through a regulated and transparent framework.

This launch follows IBIT’s record-setting rise in the United States, where the fund attracted over $98 billion in assets under management within just two years and generated more than $240 million in annual fees. The move marks a major expansion of BlackRock’s crypto strategy and demonstrates strong confidence in Bitcoin’s role as a core institutional asset.

According to Tamara Stats, who oversees institutional client business for BlackRock Australasia, the ETF’s arrival reflects both market maturity and increasing investor demand. “Institutions increasingly view Bitcoin as a complementary asset within diversified portfolios,” she explained, adding that the ETF provides a “familiar and transparent” way to gain exposure to digital assets.

Expanding ETF Options Beyond Crypto

While the Bitcoin ETF is currently drawing the headlines, BlackRock is also broadening its traditional investment offerings in Australia. The firm recently unveiled plans for the iShares Core Global Aggregate Bond ETF (AGGG), which targets investment-grade bonds from governments and corporations worldwide.

This new bond ETF will carry a 0.18% management fee and track the Bloomberg Global Aggregate Bond Index (AUD Hedged). Steve Ead, Head of Global Product Solutions at BlackRock Australasia, emphasized that this addition strengthens BlackRock’s commitment to providing “tools that make diversified portfolio construction easier for Australian investors.”

“Our goal is to democratize access whether that’s global bonds or Bitcoin so investors can participate in evolving markets more efficiently,” Ead stated, highlighting the firm’s broader mission beyond simply launching new products.

Institutional Momentum Builds

The timing of BlackRock’s Australian Bitcoin ETF launch coincides with a rapid acceleration in institutional participation in crypto markets. Over the past year, major funds and endowments have entered the Bitcoin market, including Harvard University’s notable $100 million allocation to a U.S.-listed Bitcoin ETF.

Analysts at Deutsche Bank have projected that Bitcoin could eventually be included on central bank balance sheets before the end of the decade—a scenario that was once unthinkable but is now increasingly plausible as ETFs make exposure simpler and more accessible.

BlackRock’s own inflow data further underscores this trend: in the third quarter alone, the company’s iShares ETFs attracted $153 billion, pushing total ETF assets under management to an impressive $5 trillion.

A Defining Moment for Bitcoin ETFs

The introduction of IBIT on the Australian Securities Exchange marks a new chapter in how global investors engage with cryptocurrency markets. For BlackRock, this listing reinforces its position at the forefront of integrating digital assets within traditional finance.

The ETF’s net asset value (NAV) currently sits at approximately $60.56, reflecting a 16.74% gain year-to-date despite recent market volatility. With strong demand for Bitcoin exposure and expanding ETF infrastructure, BlackRock’s latest move is poised to open the door for a new wave of institutional participation throughout the Asia-Pacific region.

As the line between crypto and conventional finance continues to blur, BlackRock’s Australian launch underscores a larger truth: Bitcoin is no longer a fringe experiment—it is fast becoming a pillar of the global investment landscape.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

About the Author

Alex is an experienced financial journalist and cryptocurrency enthusiast with over eight years of experience covering the crypto, blockchain, and fintech industries. He is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear understanding of the latest developments and trends in the market.

Alex’s approach focuses on breaking down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics in the financial and crypto landscape.

https://bitcoinethereumnews.com/bitcoin/blackrock-expands-bitcoin-etf-reach-with-upcoming-asx-listing/

Bitcoin ETF Surge Prompts Warning From $20B Asset Manager

South African asset manager Sygnia Ltd., which oversees around $20 billion, is riding the wave of interest in digital assets. However, its leadership is warning investors not to get carried away.

Speaking to Bloomberg, CEO Magda Wierzycka acknowledged the strong inflows into Sygnia’s recently launched Bitcoin ETF, yet stressed that the fund should not be treated as a core holding. She advised that crypto exposure remain limited to no more than 5% of discretionary or retirement portfolios, emphasizing that the messaging around such products must be realistic.

### Balancing Growth and Risk

Wierzycka argued that while Bitcoin has potential as a long-term investment, its volatility makes it dangerous for households in developing economies. In markets like South Africa, where average incomes are far lower than in wealthier countries, she warned that sudden price swings could wipe out life savings if investors allocate too aggressively.

Her comments highlight the delicate balance asset managers face: encouraging adoption of innovative products while shielding clients from extreme downside risk.

### More ETFs on the Horizon

Despite its cautious tone, Sygnia is not turning away from the sector. The firm is preparing to file for additional crypto ETFs on the Johannesburg Stock Exchange, pending regulatory clearance. This move underscores the rising appetite for regulated exposure to digital assets among South African investors.

### A Rapidly Growing Market

South Africa is emerging as one of Africa’s most active crypto hubs. Local exchanges are proliferating, adoption among businesses and individuals is accelerating, and forecasts suggest that over 10% of the population will be engaged with crypto by 2025.

Unlike some governments that have restricted or banned digital assets, South African regulators are integrating them into the financial system by classifying them as financial products.

For Wierzycka, the message remains consistent: innovation is welcome, but responsibility is essential. “Bitcoin can play a role,” she said, “as long as investors understand its risks and keep it in proportion.”

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*Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.*

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**Author**
Alex is a reporter at Coindoo and an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. Alex’s approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
https://coindoo.com/bitcoin-etf-surge-prompts-warning-from-20b-asset-manager/