Funds have been flowing out of the Grayscale Bitcoin Trust (GBTC) for more than two months. Moreover, March 11 was the largest outflow for the month. A whopping $494 million worth of BTC exited the fund yesterday. This works out at 6,850 BTC, according to BitMEX Research, which labeled it a record outflow. The BitMEX...Read More
With the ongoing frenzy surrounding spot Bitcoin ETFs propelling BTC to highs beyond $70K, Hong Kong-based entities are preparing to enter the fray with their own offerings. While the demand for ETFs offering exposure to Bitcoin for the retail crowd is soaring, a similar vehicle for Ethereum has also gained significant traction. Recent reports indicate...Read More
Mudrex, an Indian cryptocurrency investment platform, intends to introduce U.S. spot Bitcoin exchange-traded funds (ETFs) to target both institutional and retail investors within India, according to CEO and co-founder Edul Patel. The move comes amid India’s latest government action to tighten offshore crypto exchanges regulation. Mudrex to Offer Four Spot Bitcoin ETFs In an interview...Read More
Solana has been highly favored among altcoins, yet its reputation took a hit due to significant network outages. Despite the overall market surge and renewed investor confidence in 2024, inflows into digital asset investment products associated with Solana were not substantial. However, there are signs of a gradual shift in this trend as Solana investment...Read More
Since spot Bitcoin ETFs were approved in mid-January, crypto markets have surged a further 60% adding a trillion dollars to total capitalization. Bitcoin charted a new all-time high, but Ethereum did not and has been unable to overcome the $4,000 level decisively. On March 11, Fox Business correspondent Eleanor Terrett said optimism about the U.S. Securities...Read More
On March 8, on-chain analytics provider Santiment reported that despite the incredible milestone for Bitcoin, “there is a combined sense of exhaustion and altcoin distraction coming from the trading community right now.” BTC prices briefly topped $70,000 on Coinbase on Friday marking a new all-time high for the digital asset. However, it sharply retreated from this...Read More
The introduction of spot Bitcoin ETFs has attracted a fresh influx of investors, driving a notable increase in trading volume. This trend has generated a wave of optimism that extends beyond Bitcoin itself. But this hasn’t made the launch of a spot Ethereum ETF any earlier as the US Securities and Exchange Commission (SEC) is...Read More
The nine new spot Bitcoin exchange-traded funds (ETFs) recently approved in the United States are set to overtake the holdings of the Grayscale Bitcoin Trust today. Excluding Grayscale, these ETFs collectively manage assets worth nearly $27 billion, led by IBIT, with an asset under management (AUM) of almost $13 billion, as reported by BitMEX Research....Read More
On March 7, crypto analyst Dylan LeClair posted a lengthy report on the current state of the Bitcoin market. “Supply distribution has started,” he said, highlighting how Bitcoin holders have started to sell as new market entrants emerge, namely exchange-traded funds. However, there was no reason to be concerned because the ETFs are seeing massive...Read More
Bitcoin ETFs are receiving increased interest from investors as their preference shifts towards BTC over traditional investments such as gold, even though both assets have recently hit new all-time highs (ATHs). On Tuesday, Bitcoin skyrocketed above $69,000, momentarily establishing a new record before experiencing a notable pullback. Bitcoin Surpasses Gold in ETF Inflows Traditionally viewed...Read More
Bitcoin has surged to an all-time high, surpassing $69,000, a level not seen since November 10, 2021. The uptick is largely attributed to the significant influx of purchases from recently established spot bitcoin ETFs based in the United States. When these ETFs commenced operations on January 11, Bitcoin was trading at approximately $45,000, surging by...Read More
March 5 was not just the day that Bitcoin made an all-time high in USD; it was also the day that the new spot ETFs hit record trading volumes. The new ten Bitcoin ETFs did $10 billion in trading volume on Tuesday, smashing the previous record set on Feb. 28, reported Bloomberg ETF analyst Eric...Read More
The ongoing rally is challenging market expectations regarding the impact of spot Bitcoin ETF inflows, which were speculated to propel the leading asset to break all-time highs by the end of March. With Bitcoin exceeding $59,000 on Wednesday, marking a gain of over 5%, indications suggest that a new peak may materialize sooner than anticipated....Read More
CSOP Asset Management, a capital market firm in Hong Kong, disclosed in an interview with Reuters that its exchange-traded product, the CSOP Bitcoin Futures ETF (3066.HK), has witnessed a surge in assets under management (AUM) over the past five months. The ETF’s Assets Under Management (AUM) has soared five-fold to over $100 million. Rising Trading...Read More
Coinbase has had a great run recently, topped off with a great Q4 2023 roundup in which the platform announced that it had beaten analyst predictions and was well on track to recovery from crypto winter. However, a technical glitch – which was reportedly caused by high traffic – recently struck the exchange, causing the...Read More
BlackRock’s IBIT spot Bitcoin exchange-traded fund (ETF) has reached $10 billion in assets under management (AUM) within seven weeks of its launch on January 11. The fund now holds over 162,000 Bitcoin, making it one of the few ETFs to surpass the $10 billion mark. Spot Bitcoin ETF Performance Nate Geraci, president of the ETF...Read More
Leading U.S. investment platforms Meryll Lynch and Wells Fargo are now offering clients access to Bitcoin spot ETFs despite initially hesitating on the move. As reported by Bloomberg, the firms are offering the ETFs to certain wealth management clients who specifically request the product, which allows clients to directly invest in BTC through an ETF...Read More
BlackRock’s Bitcoin (BTC) ETF has cracked a new daily inflow record, helping push Bitcoin’s above $60,000 for the first time since November 2021. The iShares Bitcoin Trust (IBIT) absorbed another $520 million on Tuesday, bringing the fund’s total flows since launch above $6.5 billion. Furthermore, thanks to Bitcoin’s rising price during that period, the value...Read More
As Bitcoin notched over 10% daily gains, the trading volume of nine BTC ETFs reached a record high. “New Nine” recently launched spot Bitcoin exchange-traded funds (ETFs), except for Grayscale’s GBTC, experienced a daily trading volume of $2.4 billion. This marked a new peak and nearly twice the usual daily volume, as per analysis by...Read More
Could Bitcoin ETFs become larger investment vehicles than gold ETFs? Bloomberg analysts say it might happen in as quickly as under 24 months. Will Bitcoin Pass Gold? In a post to X on Monday, Bloomberg ETF analyst Eric Balchunas outlined how Gold ETFs have been gutted in recent weeks precisely as Bitcoin ETFs have absorbed...Read More
After an impressive run, spot Bitcoin ETFs appear to have hit a snag as inflows saw a minor reduction. Lookonchain’s latest analysis reveals a concerning trend in the cryptocurrency market as Bitcoin ETFs experience a significant decrease in inflows. Bitcoin Inflows Hit Snag According to the provided data, only 18,477 BTC, equivalent to $951 million,...Read More
Spot Bitcoin exchange-traded funds (ETF) have surpassed a staggering $50 billion cumulative trading volume since trading started in the United States on January 11. The milestone, achieved on Thursday, February 22, marks a 76.68% surge from the 28.3 billion cumulative volume recorded at the beginning of the month, according to data from BitMEX Research. $50B...Read More
Following the Securities and Exchange Commission’s (SEC) approval of the first eleven spot Bitcoin Exchange Traded Funds (ETFs) in the United States last month, Australian retail interest in Bitcoin has experienced a surge. The development has grabbed Australian investors’ attention, with 34% acknowledging awareness of the news. This has increased confidence in Bitcoin, with 25%...Read More
Over the past three weeks, around 700,000 BTC have been transferred to over-the-counter (OTC) desks that are commonly used by miners, according to CryptoQuant CEO Ki Young Ju. Notably, activity has been observed following the approval of a spot Bitcoin exchange-traded fund (ETF). 700,000 BTC Flow to OTC Desks The movement of such a significant...Read More
On Feb. 20, the company’s CEO Brian Armstrong reported that Coinbase International Exchange continues to grow, hitting $1 billion in daily volume for the first time. The exchange, which is based in Bermuda, offers crypto perpetual futures trading to professional non-US traders. It was set up outside of the United States due to the ongoing...Read More
Spot Bitcoin exchange-traded funds (ETFs) have seen steady inflows in the past week, surpassing any other exchange-traded products (ETPs) among the 3,400 trading in the United States. Analysts at crypto exchange Bitfinex revealed in the new Bitfinex Alpha report that the ETFs recorded net positive inflows exceeding $2.2 billion for the second consecutive week between...Read More
With spot Bitcoin ETFs being all the rage, South Korea’s opposing party has a new trick in hand to garner support from the masses ahead of the general election on April 10. According to reports from local news media on Tuesday, the Democratic Party of South Korea is advocating for allowing local citizens to invest...Read More
Amidst a meaningful market recovery, digital asset investment products welcomed a record weekly inflows of $2.45 billion. This pushed year-to-date inflows to now at an impressive $5.2 billion. These numbers, combined with recent favorable price trends, have pushed the total assets under management (AuM) to $67 billion, the highest level since December 2021. Solana Faces...Read More
Grayscale GBTC’s outflows have been experiencing outflows. Data shows that as of February 16th, the total funds withdrawn from GBTC since its conversion to a spot Bitcoin ETF have amounted to $7 billion. While the figure appears to be slowing down considerably, the once-premier fund is seeing stiff competition from ETFs by BlackRock and Fidelity,...Read More
Bitcoin (BTC) recently soared past the $50,000 mark for the first time since December 2021 and has remained on the rise, currently trading above $51,900. Analysts from on-chain intelligence platform CryptoQuant have attributed the asset’s rise to high demand from the recently approved spot Bitcoin exchange-traded funds (ETFs). According to CryptoQuant’s latest weekly report, an...Read More
