Spot ether ETFs saw $1.42 billion exit the funds last month, marking their largest monthly outflow to date.
Crypto VCs explain what’s behind the crypto correction, whether a bottom is forming, and what they expect next.
The firm's US-listed spot bitcoin ETF IBIT, launched in January 2024, reached $70 billion in assets in record time and has generated hundreds of millions in fees.
Spot Solana ETFs, which broke a 21-day inflow streak on Wednesday, recovered from their stumble with modest inflows on Friday as well.
Flowdesk and QCP see short covering and dip buying supporting BTC around $90,000, while prediction markets assign low odds of a push toward $96,000.
Bloomberg Senior ETF analyst Eric Balchunas predicts over 100 new crypto ETFs will launch in the next six months.
Filing comes amid rapid growth in IBIT options activity and a migration of open interest toward US regulated venues.
Grayscale is looking to expand its lineup of cryptocurrency exchange-traded funds, this time with a product tracking Zcash.
Bitcoin's underperformance to equities signals a disconnect from fundamentals, making it a strong relative buy, K33's Vetle Lunde said.
A $10M budget allocation for BTC was approved with the reported $5M trade representing the first step toward deploying those funds.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
With JPMorgan's instrument, investors get a chance at a 1.5x upside, a fixed return if IBIT is flat in a year, and some downside protection.
The combined spot XRP ETFs registered $164 million worth of net inflows for the day, outperforming their BTC, ETH, and SOL counterparts.
Bitcoin ETF outflows are still heavy, but analysts say long-term holders are quietly accumulating while traders reset positions.
The four-week negative streak now totals $4.9 billion — the third largest since 2018, Head of Research James Butterfill said.
US spot bitcoin ETFs reported $1.22 billion in net outflows last week, bringing four-week cumulative outflows to $4.34 billion.
Bitcoin is on track for its worst weekly performance since March, while U.S. demand indicators weaken as the Coinbase premium declines and spot ETFs reach a record volume.
Every trader and investor has eyes on BTC $80k support, which has become the most critical support line as Bitcoin faces relentless selling pressure triggered by global macro shocks, liquidation spikes, and collapsing risk sentiment. While the BTC price today shows very mild attempts at stabilization,but the market still broadly remains fragile, and the BTC …
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The launch lands amid steep drawdowns in bitcoin and ether, adding risk around timing for highly leveraged ETPs.
Spot bitcoin exchange-traded funds in the U.S. posted their second-largest daily outflow since their inception.
Retail investors have sold about $4 billion of spot BTC and ETH ETFs in November — the main driver of the latest crypto market correction.
The company sees bitcoin as a store of value, similar to gold, a spokesperson told Bloomberg.
Notably, BlackRock's IBIT saw $60.61 million in positive flows, after recording $523 million in net outflows on Tuesday.
Nearly two years after the inception of the Bitcoin ETF sector in the United States, these funds are currently grappling with significant challenges, exacerbated by mounting concerns regarding a potential bear market in the coming months. This turmoil is exemplified by the BlackRock iShares Bitcoin Trust ETF (IBIT), which experienced its largest single-day withdrawal since launch, further contributing to the decline in Bitcoin’s price. Profit-Taking And Caution The recent outflows from BlackRock’s Bitcoin ETF highlight the severity of the current selloff within the Bitcoin market, which has experienced a substantial correction below the crucial $100,000 mark following a record high reached in October. Related Reading: Kraken Achieves $20 Billion Valuation With $200 Million Investment From Citadel This downturn emphasizes the widespread pullback affecting various risk assets, while gold has notably remained resilient. Some analysts suggest that these developments indicate a trend of investors shifting their exposure from Bitcoin to gold. “The crypto market entered a hangover in August,” said Thomas Perfumo, Global Economist at Kraken, in a recent interview with Reuters, noting that much of the earlier demand for Bitcoin had been fueled by borrowed funds. He added, “Momentum seemingly peaked during the summer. But the truth is this hangover trend started months ago.” Analysts have also pointed to profit-taking behaviors among long-term holders and increasing caution among Bitcoin ETF funds and digital asset treasury (DAT) firms, which had previously ramped up their acquisitions throughout the year. Brian Vieten, a research analyst at Siebert Financial, stated that Bitcoin treasury companies had collectively purchased nearly $50 billion worth of Bitcoin over the past year. Recently, however, many of these firms have begun trading at a discount to their net asset value, which could dampen market expectations for new Bitcoin purchases in the near term. Bitcoin ETF Inflows Plummet This shift occurs amid rising concerns among heavyweight investors regarding inflated valuations across various asset classes. José Torres, a senior economist at Interactive Brokers, noted that “an ongoing lack of speculative spirits is weighing on Bitcoin.” Related Reading: Bitcoin Dips Below $90,000—Yet Altcoins Remain Unscathed: Here’s Why Despite managing over $73 billion in assets, IBIT has seen a decline of 19% in the current quarter. Data from SoSoValue indicates that spot Bitcoin ETF funds collectively have recorded $2.59 billion in outflows this month alone. Leading the pack is BlackRock’s Bitcoin ETF, which has experienced $1.78 billion in outflows in November alone. The Fidelity Wise Origin Bitcoin Fund (FBTC) ranks second, with nearly $540 million in outflows. The turbulence isn’t limited to Bitcoin; the Ethereum exchange-traded fund sector also faced outflows, totaling approximately $74.2 million yesterday, with BlackRock selling off $165.1 million. On a more positive note, Solana spot ETFs reported net inflows of $30.09 million on Tuesday, primarily driven by Bitwise’s BSOL. This marks a major streak of 15 consecutive days of inflows for Solana. Featured image from DALL-E, chart from TradingView.com
The Abu Dhabi Investment Council (ADIC) has taken a major step, while most U.S. Bitcoin ETFs are facing heavy withdrawals. While BlackRock’s IBIT reported a $523.2 million single-day outflow and U.S. spot Bitcoin ETFs recorded five days of redemptions, ADIC quietly expanded its position during the third quarter. This move stands out as global sentiment …
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The average spot bitcoin ETF buyer sits near a $90,000 cost basis, leaving most investors roughly flat.
Meanwhile, spot Solana ETFs extended their positive flow streak to 16 days, accumulating $420 million in inflows.
Recently launched SOL, XRP and LTC ETFs saw positive flows on Monday, potentially signaling early capital rotation toward altcoins.