Galaxy Digital CEO Mike Novogratz shared an optimistic outlook for the future of crypto, specifically Bitcoin, in light of recent ETF approvals and the prevailing economic conditions. Novogratz said during the company’s latest earnings that spot Bitcoin ETFs will continue to attract “boomer wealth” that will drive adoption to unprecedented levels. He said: “With the […]
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Analysts believe Bitcoin exchange-traded funds (ETFs) could see a significant upswing following their launch in Hong Kong due to the adoption of in-kind creation models. Bloomberg senior ETF analyst Eric Balchunas further pointed out that Hong Kong’s adoption of an in-kind creation model for spot Bitcoin ETFs could potentially boost the assets under management (AUM) […]
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Grayscale’s Bitcoin ETF has bled over $14 billion and it hasn’t lowered its industry-high fees, but ex-Wall Street analyst Jim Bianco gave two reasons why.
The action was a break from what had been a record seven-week string of inflows.
BlackRock believes that Bitcoin (BTC) will become an integral part of the financial system over the coming decade as it increasingly melds with the best parts of the traditional financial system. The asset manager’s Head of Digital Assets, Robert Mitchnick, made the statement during Reflexivity Research’s Bitcoin Investor Day on March 22. FOX Business reporter […]
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Bitcoin Spot ETF outflows have ramped up this week and has seen the week characterized by price declines throughout the crypto space. These outflows, like before, are being led by the Grayscale Spot ETF as investors believe their fees are too high. This has led to four consecutive week of outflows, which is the second time it is happening since Spot ETFs were approved for trading. So, where does the Bitcoin price go from here? Bitcoin Spot ETFs Hit 4 Consecutive Days Of Outflows The outflows began on Monday and continued into subsequent days. So far, the highest single-day outflow happened on Tuesday, March 19, with total net flows for the day coming out to $326.2 million, a new record for Bitcoin funds. Related Reading: Top 3 Solana Meme Coins To Buy Amid The Bitcoin Crash That Could 10x Subsequent days have seen lower figures when it comes to overall net flows but they continue to come out in the negative. On Wednesday, net flows were $261.5 million, and on Thursday, March 22, net flows came out to $94 million. This marked the second time that the Spot Bitcoin ETFs are seeing four consecutive days of outflows this year. The vast majority of these outflows, as mentioned above, are coming from the Grayscale Bitcoin ETF. In the last day alone, the fund saw outflows of 5,900 BTC, which translates to $339 million at current prices. Then, over the last week, Coinglass data shows that 28,207.5834 BTC has left the fund, causing its total BTC under management to fall by 7.35% in one week. Other funds have also seen outflows during this time but to a much lower degree. For example, the Invesco Galaxy Bitcoin ETF saw the second-highest outflow of all the funds, but only 667 BTC flowed out of the fund in the last day. The WisdomTree Bitcoin Fund saw 10.8.2635 BTC in outflows, while all other outflow figures came in below 100 BTC. What Happened To BTC The Last Time? The last time that Spot Bitcoin ETFs saw four consecutive days of outflows was in January, lasting from January 22 to January 25. This also bears some similarities to the current outflow trend in some was, one of which was the outflows began at the start of the week and carried through to the end. Related Reading: Crypto Analyst Says XRP Price Is Headed For $27 As 2017 Pattern Emerges However, a difference between both times is that the ETFs had just begun trading with trading days fluctuating between inflows and outflows. Meanwhile, the current trend has come after almost two consecutive weeks of inflows, something that could have an impact on the BTC price going forward. In January, after four days, the outflows had begun to slow down, and by Friday, there was a change in direction, with inflows beginning to dominate. Once the tide turned and ETF inflows began to rise, the BTC price followed sharply. With the climb came a more established rally in the Bitcoin price, causing it to go from $40,000 to over $70,000 in the space of two months. If this trend repeats and inflows into Spot BTC ETFs outpace outflows, then the BTC price is expected to start climbing again. However, if the outflows continue, then the BTC price could be in for further crashes. BTC price drops below $65,000 | Source: BTCUSD on Tradingview.com Featured image from 20 Minutes, chart from Tradingview.com
The charter will enable WisdomTree’s newly founded entity to offer crypto custody, stablecoin issuance, and stablecoin reserve management services.
As of the latest data, the US spot Bitcoin Exchange-Traded Funds (ETFs) have surged past a notable milestone, with cumulative trading volume breaching the $150 billion mark on March 19. This development is particularly noteworthy considering the spot ETFs‘ relatively short period in the market, following their approval by the Securities and Exchange Commission (SEC) […]
BTC, ETH and a few large-cap altcoins are redounding today, but data continues to point to an “overheated” market.
The world’s largest asset manager has taken “the next step forward” toward a single ledger, instantaneous settlement and ending illicit activities, in the view of CEO Larry Fink.
The Bitcoin wallet has added 100 BTC tranches regularly since at least November 2022, when FTX collapsed.
The chances of approval for the pending spot Ethereum exchange-traded fund (ETF) applications this May are strained as two US Senators urged the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. In the March 11 letter to SEC Chair Gary Gensler, Senators Jack Reed and Laphonza Butler advised the financial regulator to […]
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As a direct result of the massive inflows into the Bitcoin ETFs and a supporting bull run, the daily inflows of capital being stored by the Bitcoin network just hit $2 billion per day, marking yet another milestone for the ecosystem.
CoinShares’ global assets under management (AUM) increased to approximately $7.3 billion following the acquisition.
Bitcoin ETFs are sucking up the BTC available for purchase, and the tipping point in supply dynamics will come this year, one analyst says.
Traders’ strong appetite for leverage could be creating the perfect scenario for cascading liquidations.
According to data from BitMEX, BlackRock's IBIT now has nearly 198,000 Bitcoin, outpacing MicroStrategy’s holdings.
Grayscale and Coinbase met with the SEC on March 6 to address concerns about the conversion of Grayscale’s Ethereum Trust into a spot ETF.
The global total value locked in DeFi protocols reached $100.1 billion on March 9. These figures, however, still fall short of the $189 billion record set in November 2021.
ETH price set a new multiyear high at $4,000 right as Bitcoin price hit a new all-time high.
Bitcoin hit a record $69,325, its highest level since November 2021 on a flurry of volatility buoyed by demand from spot BTC exchange-traded funds (ETFs). Unlike previous cycles, it almost instantly fell back as bearish traders wrangled for control.
Bitcoin briefly became the eighth-largest asset in the world after temporarily surpassing the market cap of silver.
Analysts expect Bitcoin price to breach $150,000 by the end of 2025, driven by the upcoming halving and the demand introduced by Bitcoin ETFs.
Bitcoin ETFs see over half a billion dollars in net inflows, outpacing the current market supply of Bitcoin 10 times.
Kole Lee, the leader of Stanford’s Blockchain Club pitched the student-run fund to invest in BlackRock's spot Bitcoin ETF as early as February.
The price of Bitcoin stumbled amid a big day of Grayscale’s ETF outflows. JPMorgan analysts think more price corrections are coming post-halving.
The amount of ether held on exchanges is at an all-time low of 11%, a sign that more of the cryptocurrency is being locked up for DeFi, the report said.
MicroStrategy’s acquisition follows predictions that Bitcoin ETFs could surpass Gold ETFs in assets under management, during the next two years.
Grayscale’s GBTC posted $44.2 million in withdrawals on Feb. 23, marking its lowest daily volume since transitioning to an ETF.
The U.S. SEC’s approval of multiple spot ETFs and the billions of dollars that have poured in since doesn't make Bitcoin a good investment or a better means of payment, the central bankers said in a blog post.