Crypto.com aims to expand its crypto offerings to include stablecoin and an exchange-traded fund (ETF) product in 2025. The Singapore-based exchange also revealed a plan to give customers access to traditional financial products like banking and stock trading. This move comes as Crypto.com has positioned itself as one of the top trading platforms of 2024, […]
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An incoming crypto-friendly Trump administration could make allowing crypto ETFs in the U.S. easier, traders say, boosting SOL’s prices.
VanEck said the Solana (SOL) network’s high user engagement and transaction volume largely reflect its low-cost, high-throughput design despite substantial revenues stemming from speculative memecoin activity. The firm’s latest analysis comes in response to speculation that Solana’s numbers are inflated by wash trading in memecoins. Many critics argue that this makes SOL’s growth less notable […]
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The State of Michigan Retirement System disclosed over $11 million in exposure to spot Ethereum (ETH) exchange-traded funds (ETF) in its latest 13-F filing. As a result, Michigan became the first state to invest in Ethereum and currently holds a larger position in Ethereum ETFs, compared to the $7 million invested in spot Bitcoin ETFs […]
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Digital asset investment products saw inflows of $2.2 billion last week, bringing total inflows this year to a record-breaking $29.2 billion, according to CoinShares‘ latest report. The strong performance, coupled with recent Bitcoin price increases around $70,000, lifted the sector’s total assets under management (AuM) above $100 billion for only the second time. These levels […]
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Asset management company 21Shares has joined the list of firms that have filed applications with the US Securities and Exchange Commission (SEC) for a spot XRP exchange-traded fund (ETF). On Nov. 1, 21Shares submitted an S-1 form to register its Core XRP Trust shares for listing on the Cboe BZX Exchange. Coinbase, the largest crypto exchange […]
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The asset manager became the third firm to apply for listing and trading shares of a spot XRP ETF, following Canary Capital and Bitwise.
If the Ethereum network makes a few critical adjustments, ETH price could sustainably rally to $3,000 and above.
As institutional interest in Bitcoin soars, the crypto community grapples with fundamental questions about custody and control.
NYSE Arca has filed an application with the SEC to list a Grayscale exchange-traded fund (ETF) featuring a diverse array of cryptocurrencies, marking a significant push to expand institutional access to digital assets. The Grayscale Digital Large Cap Fund, a crypto index portfolio created in 2018, includes popular cryptocurrencies like Bitcoin, Ethereum, and Solana alongside […]
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Canary Capital filed for a spot Solana ETF with the Securities and Exchange Commission (SEC) on Oct. 30, seeking to establish a US-based spot Solana (SOL) exchange-traded fund. The fund, titled the Canary Solana ETF, is designed to “provide exposure to the price of Solana (‘SOL’) held by the Trust,” according to the S-1 registration […]
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BlackRock’s iShares Bitcoin Trust ETF (IBIT) has become the fastest-growing ETF in history, exceeding $30 billion in assets under management. According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, IBIT reached this milestone in just 293 days, setting a new record. This pace surpasses the JPMorgan Equity Premium Income ETF (JEPI) and major Gold […]
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Explore the mechanics of crypto derivatives, including futures, options and perpetual contracts, as well as the role of leverage, margin requirements and their impact on trading strategies.
Crypto investment products are experiencing one of their best months on record, with inflows hitting $901 million in the last week alone, according to CoinShares’ latest report. This month’s inflows now represent roughly 12% of the sector’s total assets under management, positioning it as the fourth-highest month for inflows on record. Similarly, year-to-date inflows have […]
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Microsoft’s upcoming vote on whether or not to build a Bitcoin position is just another sign of corporations’ and institutional investors’ growing interest in BTC.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.
Retail investors are leading the charge in the adoption of spot Bitcoin exchange-traded funds (ETFs), accounting for 80% of the total demand, according to a Binance Research report. According to the report, Bitcoin ETFs have seen accelerated adoption since their debut, with cumulative holdings now reaching over 938,700 BTC — approximately $63.3 billion in assets […]
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Institutional adoption, US government overspending and future economic stimulus packages are just a few reasons why analysts believe Bitcoin price is on the path to $100,000.
Earlier this week, Canadian crypto custody specialist Balance announced it had become a qualified custodian in the country.
In the past seven days, over 1 million ounces have gone into gold ETFs, the biggest inflow since October 2022.
American institutions are making ripples in the cryptocurrency market, having invested a staggering $13 billion in spot Bitcoin ETF shares since its inception in January 2024. Many people are surprised by this move, given that traditional financial institutions were first hesitant to enter the world of digital assets. Related Reading: Dogecoin Rockets 30% In A Week, Sparking Hype For Uptober Rally According to CryptoQuant CEO Ki Young Ju, 1,179 institutions currently own a total of 193,064 BTC, indicating a major shift in opinion towards crypto investments. Institutional Adoption Grows The adoption of Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) has contributed significantly to the spike in institutional interest. This legal approval has created new opportunities for financial institutions to provide cryptocurrency investments, allowing them to tap into more revenue streams. Institutional ownership of U.S. #Bitcoin Spot ETFs is around 20%, with asset managers holding 193K BTC (per Form 13F filings). pic.twitter.com/9YTOEH3G5w — Ki Young Ju (@ki_young_ju) October 22, 2024 Big Chunk Of The Pie Interestingly, big players such as Millennium Management and Jane Street now hold over 20% of the total market through various Bitcoin ETFs worth about 961,645 BTC. This rapid absorption immediately shows that the anxiety over money related to digital currency was shorter-lived. Analysts think the more the establishments engage with Bitcoin ETF, the price will keep going. Even so, the current price of Bitcoin stands at around $67,000 and is likely to go to $100,000 in early 2025, based on past trends, but more importantly, how people’s thinking is changing towards embracing Bitcoin as a legitimate asset class. Options Trading Approved Another major turning point came when the SEC lately approved options trading for spot Bitcoin ETFs on NYSE American LLC and CBOE. This implies that with conventional financial instruments, institutional investors can now effectively reduce their Bitcoin exposure. A big change has happened for institutional buyers since they can now trade options on these ETFs. It not only makes Bitcoin easier to use, but it also makes it more like regular banking. Now that options trading is possible, experts think that more institutional buyers will get into the Bitcoin market. Institutional investors’ ability to trade ETF options is a turning point. Bitcoin becomes increasingly accessible and integrated into standard banking. Now that options trading is possible, experts expect more institutional investors to join Bitcoin. Related Reading: Shiba Inu Soars: Analyst Predicts 71% Rally In ‘Meme Super Cycle’ – Details A Bright Future Ahead Bitcoin and its ETFs appear to have a promising future. Institutions’ continued engagement with this asset class is anticipated to have a favorable impact on other digital assets. The SEC’s regulatory system provides a layer of protection that many investors value. This clarity may lead to increasing participation from traditional financial institutions, thus cementing Bitcoin’s position in the investment scene. Overall, the combination of institutional demand and governmental support suggests that Bitcoin is more than a passing fad; it is becoming an essential component of modern finance. As time passes, it will be interesting to see how this changing landscape affects both the digital currency market and broader economic trends. Featured image from StormGain, chart from TradingView
Bitcoin institutional investors are pausing while the BTC price struggles to overcome resistance.
Bitcoin’s upcoming price recovery will be driven by a handful of unique factors.
XRP prices have declined after Ripple co-founder’s $10 million donation to Kamala Harris’ US presidential campaign.
The latest weekly digital asset fund flow report from CoinShares has revealed that last week, crypto asset investment products saw roughly $2.2 billion in net inflows globally, marking the largest inflow since July. This rise in inflows comes amid the gradual recovery of top crypto assets last week, with the majority now reclaiming major highs and registering nearly double-digit gains over the past 7 days. Related Reading: Can Bitcoin Price Reach A New All-Time High? This Golden Cross Suggests So Who Led the Charge? Bitcoin-based products were the standout beneficiaries of last week’s inflows. US spot Bitcoin exchange-traded funds (ETFs) added $2.1 billion, with BlackRock’s IBIT ETF alone generating over $1.1 billion. The cumulative inflows for these Bitcoin ETFs, which began trading in January, now stand at $21 billion. These funds have grown to manage a record $66 billion in assets under management, highlighting their significant role in the market. Notably, the renewed confidence in Bitcoin products mirrors earlier this year’s positive sentiment. Last week’s inflows were the largest since March, when US spot Bitcoin ETFs saw $2.6 billion as Bitcoin reached its all-time high above the $73,000 price mark. This strong demand suggests that investors remain bullish on Bitcoin’s long-term prospects, despite recent market fluctuations. While Bitcoin stole the spotlight, other cryptocurrencies also experienced inflows last week although way lesser than that of BTC. Ethereum-based products attracted $58 million in net inflows, while Solana, Litecoin, and XRP-based funds saw smaller inflows of $2.4 million, $1.7 million, and $700,000, respectively. However, multi-asset investment products did not fare well, experiencing net outflows of $5.3 million, ending a 17-week streak of consecutive inflows. What Prompted The Surge In Crypto Inflow? According to CoinShares, this surge in inflows is tied to growing optimism about the upcoming US elections, with a potential Republican victory driving investor sentiment. Many believe that a Republican administration would favor the digital asset market more favorably, leading to an increase in investor confidence and positive price momentum. James Butterfill, Head of Research at CoinShares, particularly noted: We believe this renewed optimism stems from growing expectations of a Republican victory in the upcoming US elections, as they are generally viewed as more supportive of digital assets. Notably, Butterfill, reiterated these views, adding that trading volume for these investment products surged by 30% last week. Total assets under management (AUM) for crypto funds are now nearing the $100 billion mark on a global scale, highlighting the substantial interest in digital assets. Related Reading: HODL Fever: Bitcoin Holders Refuse To Sell As Data Shows Record BTC Stash However, while US-based funds thrived, investment products in other countries such as Canada, Sweden, and Switzerland experienced net outflows, indicating a more polarized global market. Featured image created with DALL-E, Chart from TradingView
Following the approval of options trading on BlackRock’s Bitcoin ETF (exchange-traded fund) on Nasdaq, it was only a matter of time until the United States Securities and Exchange Commission (SEC) authorized ETF options trading on other exchanges. On Friday, October 18, the commission permitted the New York Stock Exchange (NYSE) and Chicago Board Options Exchange […]
Bitcoin ETFs have purchased around 48 days of the mined bitcoin supply in the past four trading days.
More than half a billion dollars flowed into spot Bitcoin ETFs in the US as the cryptocurrency topped $66,000.
According to a Bloomberg report, a recent survey found that almost half of the traditional hedge funds have some exposure to cryptocurrencies, with the degree of exposure expected to increase by year-end. Traditional Hedge Funds Venturing Into Crypto A survey conducted by the Alternative Investment Management Association (AIMA) and PwC revealed that 47% of traditional […]