Bitcoin ETFs hitting Hong Kong excite markets overnight, but overall BTC price conditions remain precarious, analysts say.
The post Hong Kong Rocks with $6.3 Million Volume in Spot Bitcoin, Ether ETF Debuts: Here’s the Scoop! appeared first on Coinpedia Fintech News
The recent introduction of spot ETFs in Hong Kong has set a significant precedent in the region’s financial landscape as per the local reports. This development sees the debut of six ETFs, comprising three bitcoin ETFs and three ether ETFs, offering Asian investors access to the dynamic world of digital assets. Notably, this launch closely …
The post Hong Kong Prepares For Record-Breaking Debut Of Crypto ETFs As Issuers Expect $200-$300 Million Inflow appeared first on Coinpedia Fintech News
Hong Kong prepares for the debut of its highly anticipated cryptocurrency exchange-traded funds (ETFs) tomorrow. With an inflow scale projected to reach between $200-300 million, these ETFs are expected to significantly surpass the first-day trading volumes seen in the United States. Will Hong Kong Break US ETF Records? According to Zhu Haokang, head of digital …
The Australian Securities Exchange (ASX), which accounts for 90% of Australia's equity market, is expected to approve the first spot-Bitcoin {BTC} exchange traded funds (ETFs) before the end of 2024, Bloomberg has reported, citing people familiar with the matter.
ASX, Australia's top securities exchange is set to approve the first Bitcoin spot ETFs for its main board this year, according to Bloomberg.
The post Bitcoin spot ETFs expected to debut on Australian top exchange’s main board this year: Bloomberg appeared first on Crypto Briefing.
The post BlackRock’s Bitcoin ETF (IBIT) Continues To Hit Zero Inflow! Here’s What It Means For BTC Price appeared first on Coinpedia Fintech News
After a 71-day streak of continuous inflows, BlackRock’s Bitcoin ETF, IBIT, has experienced a sudden stop with no new inflows. This sudden halt has raised concerns among investors, especially as Bitcoin consolidates around the $64,000 level. Many analysts view this as a bearish indicator for Bitcoin’s price, suggesting that the cessation of inflows from a …
BTC Stable Above $64K While ETF Outflows Hit $200 Million
The Securities and Exchange Commission is evaluating whether exchanges’ current surveillance and enforcement mechanisms can handle Bitcoin exchange-traded products (ETPs).
One of the issuers waived management fees for the first six months, undercutting rival offerings.
The post Hong Kong to Debut Bitcoin and Ethereum ETFs on April 30th : Signaling Growth in Asian Crypto Markets appeared first on Coinpedia Fintech News
Hong Kong is gearing up to join the global financial hub offering cryptocurrency exchange-traded funds (ETFs), with the launch of spot Bitcoin and Ethereum ETFs slated for April 30th. According to the Bloomberg report, this move underscores the city’s ambition to position itself as a hub for digital assets, following in the steps of jurisdictions …
Bitcoin price is outperforming Tesla stock for the first time since 2019, though the EV giant still maintains a sizeable BTC stash.
Asset management firm Grayscale has disclosed new details about its new Bitcoin Mini Trust fund, a “spin-off” of the GBTC exchange-traded fund (ETF). The new fund, which was first announced in March, is expected to operate independently and offer a cost-effective investment option to GBTC shareholders. Grayscale Offers Industry-Low Fee With New Fund According to […]
Grayscale's Bitcoin Mini Trust ETF aims to attract investors with a competitive 0.15% management fee and tax-free Bitcoin exposure.
The post Grayscale sets 0.15% fee for its Bitcoin Mini Trust ETF appeared first on Crypto Briefing.
Bitcoin ETF provider Grayscale has provided some illustrative details of its spin-off fund, the Bitcoin Mini Trust (BTC), including a more competitive 0.15% fee than the uplisted mothership GBTC product, according to a pro forma financials in its latest filing.
Bitcoin ETF outflows have been changing, London-based Farside Investments suggests in its latest study.
The post Bitcoin ETF outflows signal shifting sentiment — Farside Investors appeared first on Crypto Briefing.
The post Bitcoin ETFs See $55M Outflow: Market Correction or Sign of Trouble? appeared first on Coinpedia Fintech News
On April 12, the cryptocurrency market witnessed Bitcoin ETFs experience massive net outflows totaling $55.1 million. It has sparked market discussions and analysis within the crypto community, making everyone question if these sudden outflows are due to the upcoming Bitcoin halving. Eric Balchunas has provided valuable insights into these developments. Let’s understand how the ETF …
The post Bitcoin Halving May Not Impact Prices As Hype Over Spot ETFs Continues: What To Expect From BTC Price? appeared first on Coinpedia Fintech News
Bitcoin traders are eagerly anticipating that the upcoming scheduled decrease in the issuance of new coins will lead to a significant surge in Bitcoin’s price. Nevertheless, this expectation may not be fully realized this time, according to various experts. Deutsche Bank suggests that the effects of the Bitcoin halving are already reflected in its current …
Asset manager Blackrock has emerged as the frontrunner in the Bitcoin ETF race in terms of inflows with its IBIT ETF, which is increasingly attracting institutions’ attention as a key development showing its success. Many fund managers have flocked to invest in BlackRock’s ETF, signaling a growing interest in digital assets among traditional financial institutions. […]
The post The Truth Behind How Bitcoin Halving Impacts ETF Values appeared first on Coinpedia Fintech News
As Bitcoin gears up for its fourth halving in mid-April 2024, it is causing quite a stir. This event directly affects crypto miners so it is understandable if any conversation is happening around this, but the big talk is not just about that. People in the crypto world are more concerned about its ripple effects. …
At a recent gathering of investors in Miami, skepticism remained high even after finance titan BlackRock's shift toward touting the original cryptocurrency.
The Securities and Futures Commission, Hong Kong's markets regulator, has not made an official announcement.
Massive demand for a China-listed gold ETF sent its premium soaring to 30% earlier this week.
According to a recent Reuters report, Hong Kong is on the verge of becoming Asia’s first city to launch spot Bitcoin ETFs. Notably, the initial approvals for these ETFs are expected to be announced as early as next week, which is significantly ahead of industry expectations for such launches this year. Hong Kong’s Bid For […]
The post Grayscale’s Secret Weapon Against Bitcoin ETF Rivals Unveiled! appeared first on Coinpedia Fintech News
Michael Sonnenshein, CEO of Grayscale, suggests that the outflows of Grayscale Bitcoin Trust (GBTC) may stabilize after a brief period of sustained investor selling. This stabilization is viewed as a potential point of equilibrium, including anticipated outflows related to settlements of bankruptcy and investor switch trades, potentially behind them. Despite facing competition from nine other …
China's top funds are hoping to leverage Bitcoin's novelty and potential to stand out in a highly competitive Hong Kong stock market.
It is a “likely foregone conclusion” that high Bitcoin ETF activity will continue leading up to the halving, said Santiment.
In recent times, the increasing appeal of Bitcoin (BTC) among asset managers and traditional finance (TradFi) institutions has gained significant attention, particularly with the notable success of Bitcoin ETF products offered by industry leaders like BlackRock, Grayscale, and Fidelity. This success has prompted more Wall Street banking institutions to eagerly enter the newly approved ETF […]
Bitcoin ETF outflows are on the rise once again after a change in the tide last week. These outflows, given the ETFs’ correlation with the Bitcoin price, have a substantial impact on how well the cryptocurrency performs over time. So, as outflows are ramping up, will it trigger a crash in the BTC price? ARK Invest And Grayscale Lead Outflows While Grayscale’s Spot Bitcoin ETF has been the natural culprit for ETF outflows due to its high fees, another fund has joined the trend in a surprising turn of events. Cathie Wood’s ARK Invest saw a substantial outflow from its ETF, leading to a new record for the investment firm. Related Reading: Solana Whales Are Making Moves – Here’s The Direction They’re Headed In The Ark 21Shares Fund (ARKB) saw a record $87.5 million leave its fund on Tuesday, April 2. Interestingly, the fund’s outflows were even higher than that of Grayscale, which saw around $81.9 million in outflows in the same day. For both these funds, it marked the second consecutive day of outflows, although it was more concerning on the part of the Ark 21Shares Fund. This is because Grayscale saw a decline in outflows between Monday and Tuesday, going from $302.6 million to $81.9 million. Whereas the ARK Invest fund saw outflows go from $0.3 million on Monday to $87.5 million on Tuesday, resulting in a 29,000% increase in outflows in a single day. Only these two funds have experienced outflows this week though, as the other ETFs continue to see upside. While Monday’s net flows ended up being negative to the tune of $85.7 million, Tuesday’s numbers looked better with positive net flows of $40.3 million. How Will This Affect Bitcoin Price? Since the Spot Bitcoin ETFs were approved in January, their effect on the Bitcoin price has been positive overall. However, there have been points where outflows from the funds have affected the BTC price, causing it to crash. Related Reading: Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree A few instances of this is back in January, a week after the ETFs were first approved. Outflows had plagued the funds and the Bitcoin price had declined as a result. Then again, in March, when outflows turned negative between March 18 and March 22 and the Bitcoin price crashed from $73,000 to $61,000. Given BTC’s performance during periods where outflows prevail in Spot ETFs, this current trend does not bode well for the price. There has been a recovery in the BTC price after inflows turned positive on Tuesday. But unless they stay positive through the end of the week, the BTC price could see further crashes toward the $60,000 level. BTC price recovers above $66,000 | Source: BTCUSD on Tradingview.com Featured image from Business News This Week, chart from Tradingview.com
In a move highlighting the growing interest in the stablecoin market, Nick Van Eck, son of investment management veteran Jan Van Eck, is making a significant bet on cryptocurrencies through the family business. Agora, a startup co-founded by spot Bitcoin exchange-traded fund (ETF) manager firm VanEck, along with crypto veterans Drake Evans and Joe McGrady, […]
Hedge fund CEO Mark Yusko predicts a $150,000 Bitcoin peak this year, with the halving event as a key driver, complemented by Bitcoin ETFs.