The interest in spot Bitcoin ETFs among financial institutions such as banks and brokerages is surging as they push for the Securities and Exchange Commission (SEC) to change the definition of crypto assets. Under the new definition, they would have a bigger role in crypto, such as being Bitcoin ETF custodians. Banks Petition SEC for...Read More
Bitcoin continues to captivate investors’ attention as it surged by over 20% in the past month, thereby surpassing the much-anticipated level of $50,000 this week. While questions arise about the rally’s endurance, a notable faction of investors assert the sustainability of the current upward momentum in the leading crypto asset’s trajectory. $5 Billion Bitcoin Buying...Read More
Since the introduction of spot Bitcoin ETFs earlier this year, GBTC has experienced substantial outflows, resulting in its AUM (Assets Under Management) decreasing to $23.7 billion as of Thursday. While Grayscale has maintained its leading position among its competitors, its market share appears to be dwindling. Receding GBTC Outflows Between January 11-21, the Grayscale Bitcoin...Read More
In contrast to Bitcoin-tracking exchange-traded funds (ETFs), gold-tracking ETFs have witnessed significant outflows this year. On February 14, Eric Balchunas, an analyst at Bloomberg Intelligence, disclosed that gold ETFs in the top 14 rankings have experienced a combined outflow of $2.4 billion since January. Gold ETFs Experience $2.4 Billion Outflows BlackRock’s iShares Gold Trust Micro...Read More
Inflows from the new spot Bitcoin exchange-traded funds (ETFs) are the major reason BTC has experienced a significant uptick, surpassing the $50,000 level and exceeding $52,000. According to a tweet by Marc van der Chijs, Bitcoin investor and founder of several crypto firms, including miner Hut 8, ETF issuers are buying more than 10-12x the...Read More
Bitcoin ETF inflows have surged over the last four days to reach over $2.2 billion, more than the entire first four weeks of trading. Notably, the bullishness around the inflows has been viewed by market participants as a major factor driving Bitcoin’s rally, which saw its price pass the $52,000 mark. Bitcoin ETFs See Record-Breaking...Read More
Eight Bitcoin ETFs’ daily inflows hit 12,073 BTC worth $590 million on February 13, with BlackRock’s iShares leading in those numbers. Meanwhile, Grayscale outflows slowed to only 1,147 BTC, worth $56 million after weeks of high outflows. Spot Bitcoin ETFs Inflows at $590M On February 13, as reported by Lookonchain, the leading spot Bitcoin ETFs...Read More
Long-term Bitcoin investors have seen their patience and conviction rewarded thanks to the crypto asset’s rally to multi-year highs above $50k. According to the latest data from Glassnode, although Bitcoin prices are still 28% below their all-time high, the number of BTC held at a loss is decreasing rapidly, with only 13% falling into this...Read More
Michael Saylor, MicroStrategy’s co-founder and executive chairman, said in a recent interview that the demand for Bitcoin coming from the recently listed spot Bitcoin exchange-traded funds (ETFs) is tenfold the supply available from natural sellers, who are miners. Saylor believes the ETFs are supporting the surge in the Bitcoin price since there is an imbalance...Read More
Still far short of its 2021 peak of almost $69,000, Bitcoin has been steadily climbing higher despite the ETF-induced correction. This week, it surpassed $48,000 and $49,000, a level not seen in nearly two years, with the $50,000 target now in focus. However, data suggest that there’s a crucial hurdle that Bitcoin needs to overcome...Read More
Nine newly launched spot Bitcoin ETFs have collectively accumulated 216,309 Bitcoins (worth $10.3 billion) in just 21 days after launching. According to HODL15Capital, the Bitcoin collection now surpasses the holdings of MicroStrategy, which owns 190,000 BTC, having begun accumulating portions of the asset in August 2020. Bitcoin ETFs Accumulate Substantial Holdings The ETFs, BlackRock (IBIT),...Read More
On Feb. 12, Mechanism Capital partner Andrew Kang predicted that long-term Bitcoin demand flows this year would be between $40 billion and $130 billion. There is a huge amount of global wealth and income that could potentially flow into crypto, he said, stating that the global aggregate income is around $52 trillion. Current crypto ownership...Read More
On Feb. 9, Ark Invest reported that its ARKB ETF had crossed $1 billion in Bitcoin holdings. “This isn’t just a number – it’s a testament to the growing trust and interest in digital assets,” it stated. The milestone was also commented on by Bloomberg ETF analyst James Seyffart, who said it suggests that Ark...Read More
Bitcoin’s price is poised for an upcoming rally this year, and the best scenario can take the asset to above $100,000 for the first time ever, said the CEO of CryptoQuant – Ki Young Ju. To do so, though, certain developments have to transpire, which are mostly related to the recently approved spot Bitcoin ETFs...Read More
Bitcoin witnessed significant developments in recent weeks that have helped it extend its rally, surging past $47,000 for the first time in nearly a month. The uptick has brought a sense of relief for its investors, who recently endured a brief plunge to 38,500 and now find themselves comfortably in the profit zone amidst market...Read More
Bitcoin spot ETFs recorded $400 million of net inflows on Thursday, bringing their total inflows since launch beyond $2 billion for the first time. The inflows were coupled by a surge in Bitcoin’s price late this week, taking it to $48,000 as of Friday. Bitcoin ETF Inflows Outpacing Grayscale In terms of daily flows, Thursday...Read More
BlackRock and Fidelity’s spot Bitcoin exchange-traded funds have set a new record by amassing more assets in their first month of trading than any other ETF launched in the U.S. in the past 30 years. The development comes amid a new report from earlier this week that showed IBIT was among the top five of...Read More
Bitcoin surged past the $46,000 mark on February 9th after overcoming a significant resistance level at $44,000. This resistance had been a barrier to price increases since the introduction of spot Bitcoin ETFs in the United States about four weeks earlier. The leading crypto asset, buoyed by the onset of East Asia’s major festival marking...Read More
The BlackRock iShares Bitcoin Trust (IBIT) has emerged as a leading exchange-traded fund (ETF) in 2024, ranking among the top five ETFs in terms of inflows, as per Bloomberg Intelligence data. The ETF has surpassed the performance of numerous well-established funds after achieving over $3.19 billion in flows, with only broad index funds such as...Read More
Activity around Bitcoin spot ETFs has slowed substantially this week, with two major funds losing their undefeated streak of inflows since launch. On Monday, both the Bitwise Bitcoin ETF (BITB) and the ARK 21Shares Bitcoin ETF (ARKB) saw their first day of net zero inflows. Loss Of Momentum For Bitcoin Spot ETFs According to data...Read More
With the fourth halving event scheduled for April this year, speculation about Bitcoin’s future trajectory is rampant. One notable voice in this conversation is Charles Edwards, the founder of hedge fund Capriole Investments, who has made a striking prediction – if Bitcoin’s post-halving returns mimic those of 2020, the market could be witnessing a staggering...Read More
The US Securities and Exchange Commission made history in mid-January when it finally approved nearly a dozen spot BTC ETFs to launch on local exchanges after a decade of delays and rejections. There was a big price run-up ahead of the approvals that resulted in a highly positive Q4 ’23 for BTC. However, the landscape...Read More
As stated in an SEC filing on Tuesday, the ETF provider Global X has withdrawn its application for a spot in Bitcoin ETF. The CBOE BZX Exchange submitted a notice of withdrawal for the Global X Bitcoin Trust on January 26, roughly two weeks after the SEC approved 11 other spot Bitcoin ETFs. Global X...Read More
In a recent development, Invesco and Galaxy Asset Management have joined the ongoing battle over fees in the spot Bitcoin ETF space. The two companies announced that the Invesco Galaxy Bitcoin ETF (BTCO) will now have an expense ratio of 0.25%, reduced from its previous 0.39%. The fund will waive its fees for the initial...Read More
The industry is bustling with the trading of the newly introduced spot Bitcoin ETF in the United States, yet there’s no equivalent for Ethereum. However, Jag Kooner, Bitfinex’s Head of Derivatives, suggests that the approval of a Bitcoin ETF could impact the SEC’s view on an Ethereum ETF, likely influenced by Ether’s classification as a security...Read More
The primary focus continues to be on spot Bitcoin ETFs and Hong Kong players do not want to be left behind. Harvest Fund Management’s Hong Kong branch is the latest entity to apply for a spot Bitcoin exchange-traded fund (ETF) with local regulators. This move aligns with Hong Kong’s preparations for its first wave of...Read More
On Monday, January 29, Google is set to update its advertising policies to allow select cryptocurrency products to be promoted on its main search engine. The revised guidelines are expected to significantly impact spot Bitcoin exchange-traded funds (ETFs), with industry insiders speculating that they may align well with the updated criteria. Google’s Policy Update The...Read More
According to CC15Capital, which has been trading spot ETF Bitcoin holdings, around 134,000 BTC has been bought by the nine newly launched funds since Jan. 11. Meanwhile, Bitcoin’s price is pushing above $42K. This stash is currently valued at around $5.6 billion. However, the figure does not include outflows from Grayscale. GBTC holders have been...Read More
Analysts at market intelligence platform CryptoQuant have revealed that BTC’s price bottoming signal can not be triggered until unrealized profit margins for short-term holders reach -10%. According to the CryptoQuant Institutional Insights weekly crypto report, short-term holders’ profit margins have approached zero, and this has caused ease in selling pressure. However, the leading digital asset...Read More
According to a Matrixport Research analysis report shared with CryptoPotato on Jan. 26, Bitcoin prices may retest lower support around $36,000 to $38,000 if ETF hype fully unwinds. However, this would present buying opportunities for investors, according to Markus Thielen, Head of Research at Matrixport. “Sub-38,000, the ETF hype might be completely priced out and...Read More
