While bitcoin’s price stagnated below a key resistance level, the blockchain achieved a notable milestone before the end of the month. On May 28th, transactions on the Bitcoin network surpassed $25 billion in estimated value, representing the highest level in US dollar terms over the past year. Despite facing hurdles in breaching the crucial resistance,...Read More
Australian investment management firm Monochrome Asset Management will launch a first-of-its-kind spot Bitcoin exchange-traded fund (ETF) in the country on Tuesday, May 4, 2024. According to an announcement, the Monochrome Bitcoin ETF (IBTC) will be the first fund to hold BTC directly in Australia. Appropriate measures have been put in place to list the ETF...Read More
European Bitcoin exchange-traded products are losing big this year after competition ramped up overseas in the form of United States-based competitors. Data from Morningstar shows that European Bitcoin funds have suffered over $500 million in net outflows since January, despite the rising demand for Bitcoin itself during that time. Why Are Europe’s Bitcoin ETFs Losing...Read More
The United States spot Bitcoin exchange-traded funds (ETFs) market has recorded a long inflow streak, last seen in February. According to data on Farside Investors, the spot Bitcoin ETFs have been on a 13-day inflow streak since May 13, 2024. This indicates investors’ confidence in Bitcoin’s potential and an unwavering capital inflow into the ecosystem...Read More
Large investors have been actively accumulating Bitcoin during market downturns, potentially viewing them as buying opportunities and then selling during periods of market revival or anticipation of increased institutional adoption. Data shows that the collective holdings of Bitcoin wallets containing at least 10 BTC have increased significantly in the past five months. In fact, this...Read More
On May 28th, BlackRock finally surpassed Grayscale to become the largest spot Bitcoin ETF with 288,671 BTC in its holdings. It took BlackRock’s IBIT just 96 trading days to close the substantial gap with Grayscale’s GBTC. IBIT has now reached an impressive asset under management (AUM) of nearly $19.79 billion. Meanwhile, GBTC saw its AUM...Read More
Last week was memorable for the crypto community. Over four months after it approved similar products for Bitcoin, the United States Securities and Exchange Commission (SEC) gave a green signal to the first wave of spot Ethereum exchange-traded funds (ETFs). According to the latest Bitfinex Alpha report, the crypto market’s reaction to the event was...Read More
Bitcoin and Ethereum have managed to pull crowds with stunning rallies this year. With the approval of their respective spot ETFs, the world’s largest cryptocurrencies are expected to attract billions. As such, popular analyst Lark Davis has made bold predictions for the top assets. Bold Predictions For Bitcoin and Ethereum In a recent tweet, Davis...Read More
As of May 24, all Bitcoin exchange-traded funds (ETFs) collectively hold 1,002,343 BTC, with a significant portion allocated to U.S. products among the 32 available ETFs. MicroStrategy’s executive chairman, Michael Saylor, emphasized this notable achievement in a recent post, noting that these 32 spot Bitcoin ETFs together now possess an amount equivalent to the holdings...Read More
Following the news of the approval of Ethereum spot ETFs, Bloomberg Intelligence ETF analyst Eric Balchunas has dampened expectations. Balchunas said he expects Ethereum ETFs to gather just 10-15% of the assets Bitcoin ETFs have accumulated. Institutional Interest Remains Low for Ethereum A string of signs suggests Ethereum’s institutional interest is much weaker than Bitcoin’s....Read More
The total net inflow for spot Bitcoin ETFs on May 22 was $154 million, continuing an eight-day streak of positive inflows. Meanwhile, the Grayscale Bitcoin Trust (GBTC) ETF experienced an outflow of $16.0914 million. BlackRock’s iShares Bitcoin Trust (IBIT) had a single-day inflow of $91.9527 million, and Fidelity’s FBTC ETF saw an inflow of $74.572...Read More
Bitcoin has climbed above $71,000 this week, breaking out of the tight trading range it had been confined to for several weeks. One of the main catalysts for this price action is the strong demand through ETFs, with net inflows of approximately $1.2 billion over the last week. Going forward, several key factors suggest a...Read More
Flows into the U.S. spot Bitcoin exchange-traded fund (ETF) market have reversed following a period of outflows and minimal inflows. According to the Bitfinex Alpha report, the new trend of heavy net inflows into spot Bitcoin ETFs signals renewed interest in the products and investors’ belief in the digital asset’s potential. Bitcoin ETF Flows Reverse...Read More
Bitwise executives have secret information about massive financial players who are investing in BTC – but they won’t specify which ones. During an interview published on Tuesday, Bitwise CEO Hunter Horsley discussed how institutional and regulatory acceptance of Bitcoin as an investable asset is evolving faster behind the scenes than most realize. The Secret Bitcoin...Read More
Digital asset investment products surged for the second consecutive week, reaching a total of $932 million. Despite an increase in inflows, the trading volume for the week was only $10.5 billion, significantly lower than the $40 billion recorded in March. Notably, the influx of funds was largely prompted by the unexpected CPI report released on...Read More
Bitcoin keeps touching new levels of adoption in the real world, with traditional finance (TradFi) firms embracing the digital asset at a remarkable pace. The significant investment in spot Bitcoin exchange-traded funds (ETFs) signifies growing institutional interest in crypto assets. Last quarter, a staggering number of U.S. banks, investment managers, hedge funds, and professional firms...Read More
Spot Bitcoin ETFs have become a key part of the entire cryptocurrency ecosystem in just four months after they went live on US financial markets. However, Bloomberg’s ETF specialist – Eric Balchunas – explained that people should not get too carried away when they see notable changes in the short-term flows. May Covers April Losses...Read More
Bitcoin’s price has been struggling to gain momentum post-halving. However, the world’s leading cryptocurrency underwent a significant recovery above $66,000 this week, bringing much-needed optimism after several uneventful weeks. The current data indicates that the $60,000 price point has become a crucial on-chain support level, backed by new whale accumulation and the stability of long-term...Read More
Morgan Stanley, the sixth-largest banking firm in the United States, has invested over $269 million in a spot Bitcoin ETF, as disclosed in its recently published Form 13-F. The Securities and Exchange Commission (SEC) filing revealed that the investment was made in Grayscale’s GBTC during the first quarter of 2024. Morgan Stanley Joins Banks Investing...Read More
In a filing with the Securities and Exchange Commission this week, the State of Wisconsin Investment Board (SWIB) reported investments in spot Bitcoin ETFs from BlackRock and Grayscale. According to SWIBs Form 13F for Q1 2024, the $156 billion pension fund purchased $64 million worth of Grayscale’s GBTC, and $99.2 million worth of BlackRock’s IBIT,...Read More
Inflows for spot Bitcoin ETFs in the United States soared to $303 million on May 15 amid a big jump in BTC prices. It is the highest inflow since May 3 as institutional inventors pivoted back to bullish in the wake of the US Consumer Price Index (CPI) data on May 15 which met expectations....Read More
Digital assets investments said the first inflow in five weeks with $130 million of net gains over the past week. Interestingly, the lack of action from US regulators regarding spot Ethereum ETF applications has sparked speculation that approval won’t happen soon, and this has resulted in significant outflows for Ethereum in the same timeframe. Investors...Read More
Bracebridge Capital, a hedge fund that manages the finances of institutions like Yale University and Princeton University, has emerged as the largest holder of various spot Bitcoin exchange-traded funds (ETFs), according to a recent 13F filing with the Securities and Exchange Commission. The Boston-based firm disclosed its ownership of shares in Ark Invest, BlackRock, and...Read More
On Monday, May 13, Hong Kong’s spot Bitcoin and Ethereum ETFs saw a total outflow of $39.3 million, according to preliminary data from Farside Investors. It is the highest total outflow for the institutional investment products since they were launched on the Hong Kong Stock Exchange on May 2. Spot Bitcoin funds from issuers Bosera,...Read More
Susquehanna International Group, a quantitative trading firm, revealed its investments in Bitcoin exchange-traded funds (ETFs) during the first quarter of 2024. According to a 13F-HR filing submitted on May 7, the firm disclosed its ownership of more than $1 billion in exchange-traded funds (ETFs). Susquehanna’s Crypto Portfolio The filing, submitted to the Securities and Exchange...Read More
Digital asset investment products experienced outflows for the fourth consecutive week, amounting to $251 million. The past week marked the first “measurable outflows” from newly issued ETFs in the US, totaling $156 million last week. According to the latest edition of Digital Asset Fund Flows Weekly Report, the average purchase price of these ETFs since...Read More
Hong Kong’s Bitcoin ETFs experienced their first setback after launching on April 30, following their first cumulative daily BTC outflows on Monday. The outflow came from the China Asset Management Bitcoin ETF, while the other Hong Kong-based products had no flows. Hong Kong ETFs See Modest Inflows According to Farside data, the China AMC Bitcoin...Read More
Grayscale’s spot Bitcoin ETF – GBTC – recorded its second consecutive day of net inflows on Monday, attracting $4 million into the trust. In doing so, GBTC shattered the four-month streak of outflows. This follows Friday’s reversal of a 78-day net outflow trend, with an additional $63 million. Since its transition to a spot Bitcoin...Read More
Analysts at investment research firm Bernstein have reaffirmed their prediction that bitcoin (BTC) would hit $150,000 in this bull cycle despite the asset’s retracement in recent weeks. According to a recent report, Bernstein analysts Gautam Chhugani and Mahika Sapra said Bitcoin metrics show the network is in a healthy cycle still in its early stages....Read More
Coinbase, the largest U.S. crypto exchange, has released its Q1 2024 earnings report, posting a total revenue of $1.6 billion, a 72% increase quarter on quarter. The performance has been driven by the rising crypto asset prices and the launch of spot Bitcoin ETFs in the U.S. which further improved inflows into the market. Coinbase...Read More
