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 […]
A veteran trader says Bitcoin is following a “perfect script” that terminates with a potential $150,000 cycle high.
A drop in Ethereum network activity and investors' concerns about the global economy continue to weigh on ETH price.
The ETP issuer is asking for more clarity and consistency from what it claims is the European Union’s “patchwork” of crypto regulations.
Selling from ETH ICO participants and a lack of demand for the spot Ether ETF could be contributing to Ethereum’s price downside.
The crypto-focused asset manager confirmed filing the XRP exchange-traded fund trust registration with the state of Delaware.
Since their approval in January 2024, Spot Bitcoin ETFs have been steadily gaining traction in the United States, with the issuers buying hundreds of thousands of BTC as their popularity spread. This has led to a large stash of BTC by these issuers as BlackRock leads the charge. Given their buying spree so far, the number of BTC being held by the Spot Bitcoin ETFs has been rising and is almost at the 1 million mark, Spot Bitcoin ETFs Now Hold 924,768 BTC The United States Securities and Exchange Commission approved a total of 12 Spot Bitcoin ETFs for trading back in January 2024. Now, only eight months later, these ETFs have managed to acquire more than 4% of the total Bitcoin supply. Combined, this makes the Spot Bitcoin ETFs some of the largest BTC holders. Related Reading: Ripple Vs. SEC Battle Far From Over As Regulator Opposes Court’s Decision So far, the BlackRock IBIT has been one of the largest buyers of BTC, surpassing even Grayscale’s GBTC, which had a 600,000 BTC head start. Currently, Grayscale holds more than 350,000 BTC, making the firm a top Bitcoin holder. Grayscale is still in second place when it comes to the number of BTC held. However, the Bitcoin fund has recorded more outflows than inflows since January, losing more than half of its stash before the Spot Bitcoin ETF approvals. Now, Grayscale holds less than 250,000 BTC after losing more than $20 billion to other Spot Bitcoin ETFs due to their lower fees. Other Spot Bitcoin ETFs such as the Fidelity FBTC and the Ark Invest/21Shares ARKB has reached almost 50,000 BTC. So far, the funds have been able to garner 924,768 BTC, putting their total holdings very close to the 1 million BTC milestone. In total, the Spot Bitcoin ETFs now boast 4.685 of the total Bitcoin supply. Top Addresses With Largest Holdings The top Bitcoin wallet with the largest BTC holdings still remains the Satoshi Nakamoto wallet with 1.1 million BTC in it. However, this wallet has been long dormant, and often left out of the top Bitcoin wallets list due to its inactivity. Related Reading: ETH Rally Pushes Profitability To Nearly 70%: More To Come This Week? According to the BitInfoCharts website, topping the Bitcoin rich list is the Binance old wallet with 248,598 BTC worth over $16.3 billion. Next is the Bitfinex Hack Recovery wallet with 94,643 BTC, with $6.2 billion. The Mt Gox Hack wallet holds 79,957 BTC for the third-largest at $5.2 billion. The wallet holding the BTC confiscated from the Silk Road bust with 69,370 BTC is in fourth position worth $4.56 billion, and the Binance BTCB Reserve wallet has 68,200 BTC in it, worth $4.49 billion. Featured image created with Dall.E, chart from Tradingview.com
The market performance of the spot Bitcoin ETFs (exchange-traded funds) in the United States has been impressive over the last few weeks. Continuing their excellent streak, the crypto investment products closed the previous trading week with their best single-day performance in almost four months. The positive investor sentiment surrounding the spot ETFs seems to have […]
Ethereum price showed strength in September, but data suggests holding above $2,600 will be a challenge.
Ether ETF experienced a $62.5 million inflow, marking its third-largest day since launch.
Bitcoin price wobbles near $58,000 as uncertainty over the Fed’s monetary policy decision looms and traders eyeball weak economic data in China.
BlackRock and Bitcoin ETFs, according to Bloomberg analyst Eric Balchunas, have consistently stopped disastrous declines in the value of the crypto. Related Reading: Crypto Beef Up 2024 US Elections With $190 Million In Donations This coincides with speculations that BlackRock uses Coinbase’s Bitcoin IOUs to control the market, therefore shorting BTC and perhaps triggering price […]
Spot Bitcoin ETFs (exchange-traded funds) in the United States closed the past week with their best single-day performance in almost two months. This notable feat signaled a shift in investor sentiment as the crypto products have been experiencing significant capital outflows in the past few weeks. Investors Flood Back To Bitcoin ETFs After Two Weeks […]
SUI outperforms the bulk of the crypto market with a strong double-digit gain, but is the rally sustainable?
North Korean hackers are reportedly targeting the billions of dollars in BTC and ETH held by crypto ETF custodians.
Ethereum price is down today as macroeconomic and crypto-specific factors put a dent in investors’ optimism.
Spot Ethereum ETFs are stealing the show and killing demand for futures-based crypto ETFs.
Order book liquidity refers to the market's ability to absorb large buy and sell orders without influencing the spot price.
CoinShares expects that crypto investment products will become “increasingly sensitive” to interest rate expectations in September.
It would be the first time crypto ETF shares that could be traded after-hours in the US.
You don’t have to have had your eyes glued to the markets recently to have noticed that Bitcoin ETFs have been dominating the headlines again this week, in every sphere but that of focus on retail investors. Related Reading: Gold Tops $2500, Steals The Spotlight From Bitcoin – Details In a recent conversation on X, […]
VanEck is still advocating for its Solana ETF with regulators, said Matthew Sigel.
The acquisition adds nine European-listed crypto ETPs to Bitwise’s portfolio and raises its assets under management to over $4.5 billion.