The first quarter of 2024 turned out to be Bitcoin’s (BTC) third-best in the past three years, according to a report from crypto data analytics platform Kaiko. It revealed that the leading digital asset recorded over $1.4 trillion in trading volumes between January and March 2024. A Surge in Bitcoin Trading Volume Q1 2024 was...Read More
The Purpose Bitcoin ETF (BTCC) – the world’s first Bitcoin exchange-traded fund – has struggled to compete with its U.S. counterparts since its January debut. The Canadian fund has lost 20% of its Bitcoin (BTC) under management over the past three months, despite rising demand and record-high prices for the asset during that time. Purpose...Read More
Wednesday saw spot Bitcoin ETF flows shift to the positive side for the week, surpassing the outflows recorded on Monday. This turnaround can be attributed to Grayscale’s GBTC experiencing a slowdown in outflows, with Wednesday’s outflow amounting to $75.1 million. Inflows Surge to $113 Million, GBTC Outflows Ease As of Wednesday, data from Farside indicates...Read More
In Asia, investors face turbulent times as automated trading bots react to data streaming from spot Bitcoin exchange-traded funds (ETFs). A report from Bloomberg indicates that these automated trading bots are potentially causing significant market volatility. Bitcoin Volatility in Asian Trading Market Shiliang Tang, president of Arbelos Markets, acknowledged the role played by these automated...Read More
Digital asset investment products experienced a positive shift in sentiment during the last week of March, with inflows reaching $862 million, nearly recovering from the previous week’s record outflows of $931 million. Despite this encouraging rebound, CoinShares revealed that ETF activity appears to be slowing down. In fact, the latest data shows that the daily...Read More
Cathie Wood’s ARK 21Shares Bitcoin exchange-traded fund (ETF) recorded net outflows exceeding $87 million on Tuesday, marking the highest outflow since its inception, as per data from Farside Investors. The outflows exceeded the amount seen from Grayscale’s GBTC, which recorded $81.9 million in outflows on the same day. Ark Invest Sees Second Day of Outflows...Read More
Amidst a market-wide correction, Coinbase experienced its second-largest Bitcoin outflow this week, with two massive withdrawals of 16,800 BTC and 17,000 BTC, respectively. Typically, when assets depart from centralized crypto exchanges like Coinbase, it indicates a bullish sentiment as it restricts the immediate selling pressure on those coins. Inflows to crypto exchanges, on the other...Read More
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....Read More
Bitcoin has been trading around $70,000 after a major retracement that dragged the leading crypto asset below $63,000 briefly. Despite a few flat trading sessions, data reveals that a pump could be in the offing that could further trigger a new wave of buying pressure. CryptoQuant’s latest analysis reveals a remarkable surge in USDC deposits,...Read More
Matt Hougan, the CIO of the crypto index fund and asset management firm Bitwise, believes inflows into spot Bitcoin exchange-traded funds (ETFs) will continue for years as more investors and institutions adopt the products. In a tweet detailing his experiences during a 20-day road trip, Hougan said he met financial advisors who have already allocated...Read More
On March 26, Hashdex announced the renaming of the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF, which will trade under the ticker ‘DEFI.’ The move to convert the futures fund to a spot ETF has been made in partnership with Tidal Investments LLC. DEFI has completed the conversion of its investment strategy to...Read More
Bitcoin reclaimed another crucial resistance area as it climbed above $69,000 this week. With the upcoming halving drawing near, investors are preparing for the price fluctuations that accompany this event. However, the latest data suggests a promising trend for the leading crypto assets as two critical factors shift positively. According to CryptoQuant’s analysis, the Coinbase...Read More
For the first time since March 15, the net aggregate flow of funds to the newly launched batch of spot BTC ETFs is positive. March 25 saw a net inflow of $15.4 million, reversing a trend that has resulted in net outflows of $887 million over the past week. While yesterday’s inflow figure is the...Read More
Investment products in digital assets witnessed a significant weekly outflow of $942 million, breaking the continuous seven-week streak of inflows reaching $12.3 billion. According to the CoinShares, this shift can be attributed to investor hesitation. Hesitant Investors Cause US ETF Inflows Dip The latest edition of Digital Asset Fund Flows Weekly Report revealed that the...Read More
On March 21, there was a net outflow of $94 million from the ten newly launched spot Bitcoin ETFs. Although the figure is lower than the previous three days, it represents another day when funds have been pulled out of the institutional investment products. Fund outflows for March 18th, 19th, and 20th totaled $154 million,...Read More
Bitcoin’s setback below $61,000 triggered a market-wide correction. Despite the inflow of fresh capital, the leading crypto asset registered 15% in weekly losses at one point after hitting new all-time highs earlier this month. QCP Capital’s analysis suggests that the Bitcoin bull market is far from over while simultaneously highlighting a continued liquidity rotation, which...Read More
United States spot Bitcoin exchange-traded funds (ETFs) have experienced three consecutive days of total net outflows, with $261.5 million exiting the funds on March 20. At the same time, the price of BTC has recovered, rising from under $61,000 to $67,000, indicating a 9% increase from the previous day. Bitcoin ETFs Outflows Hit $742 Million...Read More
Analysts at the Bitfinex crypto exchange say that alternative cryptocurrencies (altcoins) have remained resilient amid Bitcoin’s (BTC) approximately 12.5% correction in the past week. According to the latest Bitfinex Alpha report, the altcoin market’s resilience is demonstrated in the Total3 index, which reached a new cycle-high market capitalization of $788 billion on March 14. Although...Read More
Grayscale CEO Michael Sonnhenshein has promised to lower the management fee of the company’s spot Bitcoin ETF, whose above-average cost has led to overwhelming outflows in recent months. In an interview with CNBC on Monday, the executive promised that the fee will drop over time as the crypto ETF market matures. “I’ll happily confirm that,...Read More
Bitcoin ETF fever appears to be waning as the amount of BTC being scooped up by funds and institutional investors slows down. Moreover, the world’s largest crypto asset manager, Grayscale, saw a record outflow of $643 million on March 18. It beats the previous daily outflow record from GBTC of $640 million on Jan. 22....Read More
Asset management company 7RCC Global is gearing up for the launch of its environmentally conscious spot Bitcoin ETF in the United States amidst fierce competition for investment products that facilitate access to БТЦ’с price movements. Despite not being included in the initial wave of launches, the entities backing the proposal are proceeding with their plans....Read More
Paul Grewal, the Chief Legal Officer at Coinbase, has come forward to criticize a letter written by two U.S. senators urging the Securities and Exchange Commission (SEC) to impose stricter regulations on Bitcoin exchange-traded funds and refrain from approving any further cryptocurrency ETF applications. In a March 15 X thread, he challenges the assertions of...Read More
American investment management firm VanEck thinks spot Ethereum exchange-traded funds (ETFs) could become bigger than similar Bitcoin products after the United States Securities and Exchange Commission (SEC) eventually approves them in the coming months. In a recent interview, Pranav Kanade, portfolio manager of VanEck, one of the issuers of the spot Bitcoin ETFs launched in...Read More
Just one day after the spot Bitcoin ETFs achieved a notable milestone with a net inflow of $1.05 billion, BlackRock’s IBIT saw inflows exceeding the total outflows of Grayscale’s GBTC for the first time. According to data compiled by SoSo Value, as of March 13th, IBIT’s cumulative inflow amounted to $12.03 billion, whereas GBTC’s cumulative...Read More
Bitwise CIO Matt Hougan is spreading the word about his company’s Bitcoin spot ETF to potential investors, and has discovered how the digital currency is being perceived by finance pros. “I am no longer surprised at the size of the inflows into the Bitcoin ETFs,” Hougan wrote to X on Wednesday, noting high demand among...Read More
Spot Bitcoin ETFs saw a remarkable surge in net inflow on March 12, totaling $1.05 billion. This marks a new high for daily net inflow since the ETFs’ inception, demonstrating a massive 56% rise from the $673 million net inflow recorded on February 28. The new milestone comes as Bitcoin bulls captured another all-time high...Read More
The firm submitted the application to the US Securities and Exchange Commission on March 12. The Grayscale Bitcoin Mini Trust is expected to have a competitive fee and will come from a spinoff from GBTC commented ETF analyst James Seyffart. He added that GBTC holders will get some percentage of their holdings spun off into...Read More
In a recent thread on X, CryptoQuant founder Ki Young Ju raised concerns about the continuous influx of capital into spot Bitcoin ETFs, warning of a potential sell-side liquidity crisis within six months if the trend persists. Ju’s remarks come amidst a surge in spot Bitcoin ETF inflows, surpassing the $10 billion inflow mark for...Read More
Thailand’s Securities and Exchange Commission (SEC) has changed its regulations, permitting the creation of private funds that invest in spot Bitcoin exchange-traded funds (ETFs) traded on U.S. exchanges. However, this opportunity is limited to institutional investors and high-net-worth individuals. SEC Amends Spot Bitcoin ETF Rules SEC Secretary-General Pornanong Budsaratragoon disclosed that the decision was reached...Read More
The current bull run stands apart from its predecessors in several significant ways. Bitcoin has undergone three halving events thus far. The first one was in 2012, followed by another in 2016, with the most recent occurring in 2020. Bitcoin surged to achieve new all-time highs only after each halving. Contrastingly, this time, Bitcoin has...Read More
