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 […]
The world’s largest asset manager, BlackRock, aims to expand its foray in the digital asset industry following the successful launch of spot Bitcoin and Ethereum ETFs in 2024. In a new venture, the American asset manager is attempting to push the adoption of its money-market token BUIDL as a collateral asset in the crypto derivative […]
Market analyst and President of the ETF Store Nate Geraci has backed the US-based spot Bitcoin ETFs to overtake the Gold ETFs in terms of cumulative net flows. This projection comes amidst a staggering performance by these Bitcoin ETFs in the past few days where they have attracted over $2 billion in weekly netflows. Related Reading: Bitcoin Breaking Out Of 7-Month Accumulation Channel: Expert Predicts Further Upside Spot Bitcoin ETFs To Surpass Gold ETF In 2 Years, Analyst Says The spot Bitcoin ETFs rattled the global financial markets this week recording net inflows of $2.13 billion according to data from SoSoValue. This massive influx of investments occurred as Bitcoin surged by 9.23%, approaching a critical resistance zone at the $70,000 price mark. Amidst this market euphoria, Nate Geraci has predicted the spot Bitcoin ETFs to record a higher cumulative total netflows than the Gold ETFs in the next two years. This forecast is largely unsurprising considering the exponential growth of these Bitcoin ETFs since their launch on January 11. For context, the Gold ETFs currently boast of combined net inflows of around $55 billion in comparison to $20.66 billion aggregate net inflows in the spot Bitcoin ETFs market. However, the Bitcoin ETFs have been trading for barely a year compared to the Gold ETFs which have been around for over 20 years. Furthermore, Bloomberg analyst Eric Balchunas recently highlighted that spot Bitcoin ETFs have amassed over $65 billion in total net assets, a milestone that took Gold ETFs nearly five years to achieve. This figure is also over 25% of the total assets under management in the global Gold ETF market. In addition, Geraci’s theory is further strengthened by the few 11 spot Bitcoin ETFs currently trading compared to the almost 5000 Gold ETFs on the global financial market. Therefore, these Bitcoin ETFs may actually be poised to overtake their Gold counterparts, especially considering the upcoming crypto market bull run and current adoption levels of digital assets. Related Reading: Bitcoin Price To $95,000? Here’s What Needs To Happen First Bitcoin Set For Price Recorrection Amidst Market Surge In other news, crypto analyst Ali Martinez has shared that Bitcoin may soon experience a “short-term dip” following its recent price rally. As earlier stated, the crypto market leader gained by over 8% moving from around $63,000 to nearly breaking above $69,000. While the BTC market is currently bullish, Martinez states that the TD sequential is currently indicating a sell signal on the 4-hour chart which is strengthened by a bearish divergence on the Relative Strength Index (RSI). If Bitcoin’s price were to decline, investors would turn their attention to the $60,000 price zone at which lies its next support level. Albeit a strong selling pressure may cause the premier cryptocurrency to trade as low as $55,000. At the time of writing, Bitcoin continues to trade at $68,428 with a 0.98% gain in the last day. Featured image from Forbes, chart from Tradingview
Global crypto investment products have surged, recording $1.2 billion in net inflows over the past week. This marks the third consecutive week of positive inflows and a notable shift in market sentiment, as highlighted by the latest report from CoinShares, a leading digital asset investment firm. Coinshares revealed that the upward trend in inflows reflects […]
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
Bitcoin broke above $65,000 mark during late trading on Sept. 26, with the day bringing over $360 million in inflows to United States-listed spot Bitcoin ETFs.
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 […]
Investment advisors including Wall Street giants Goldman Sachs and Morgan Stanley were among the biggest holders of spot ETFs as of June 30 as clients amped up their crypto allocations to a total of $4.7 billion.
44% of asset managers increased their Bitcoin ETF holdings, while 22% held their position, which was a “pretty good result,” according to Bitwise’s investment chief.
CBOE has filed an updated 44-page rule change proposal “with more meat,” which could be good news for those hoping for options trading on spot Bitcoin ETFs.
The Crypto Fear and Greed Index recorded a score of 17 out of 100 on Aug. 5 — the lowest it has been since July 12, 2022.
Crypto traders appear to agree that today’s market rout is far from over.
Spot Bitcoin ETFs have achieved yet another milestone, recording a total of 900,000 BTC since its launch. This historic milestone occurs amidst the substantial wave of BTC accumulation in July. Spot Bitcoin ETFs Holdings Surpass 900,000 BTC Spot Bitcoin ETFs have accomplished an unprecedented feat, as the United States BTC ETF holdings have now surpassed […]
The amount of positive Bitcoin commentary on social media is just a third of what it was four months ago, according to Santiment.
Institutional investors have been buying the dip following Bitcoin’s recent downtrend. This is evident in the increased demand for the Spot Bitcoin ETFs, which recorded their best weekly outing in a long while. Related Reading: Crypto Craze: Republicans See Digital Currency Shaping 2024 Elections — Survey Spot Bitcoin ETFs Record Best Inflows In Over A […]
State Street believes the “next level of growth” will come from investment options offering more than “pure spot” Bitcoin.
Since launching, the Spot Bitcoin ETFs have achieved immense success with mass adoption, which they have enjoyed among institutional investors. Thanks to this, inflows into these funds have accounted for most of the inflows that their respective issuers have recorded since the year began. Spot Bitcoin ETFs A Major Source Of Inflows For Fund Issuers […]
BlackRock’s $20 billion spot Bitcoin ETF recorded inflows of over $102 million on May 28, while Grayscale’s ETF bled again.
International hedge fund Millennium Management has reported it holds $1.94 billion across five different spot Bitcoin ETF products.
After Tuesday’s surprising disclosure of a $161 million allocation from the State of WIsconsin, more investment whales turned out to have been part of the unprecedented success of the ETFs.
Salim Ramji spoke highly of Bitcoin and blockchain technology when overseeing BlackRock’s spot Bitcoin ETF filing.
The U.S. state of Wisconsin purchased 94,562 shares of the BlackRock’s iShares Bitcoin Trust (IBIT) in the first quarter of the year, a filing shows. The shares are worth nearly $100 million.
Previous outflows hovered around the $6 million mark, signaling a significant uptick in negative flows on Monday.
American multinational investment bank and financial services company, Morgan Stanley has revealed intentions to add Spot Bitcoin Exchange Traded Funds (ETFs) into a selection of its institutionally focused funds. This strategic move potentially reflects Morgan Stanley’s intent to expand into the digital asset space while also capitalizing on the growing interest in digital assets. Morgan […]
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.
Hong Kong further solidified its status as a crypto hub, with several issuers reporting approval of their spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) applications on April 15. However, Hong Kong’s foremost financial regulator, the Securities and Futures Commission (SFC), has yet to release an official statement on this development. SFC has not responded to […]
The post Hong Kong approves Bitcoin and Ethereum ETFs as US lingers on ETH approval appeared first on CryptoSlate.
Hong Kong is on the cusp of approving its first spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) with potential final approvals as early as Monday, according to Bloomberg, citing two people familiar with the matter. This move positions Hong Kong as a pivotal player in the Asian cryptocurrency market and underscores its ambition […]
The outflows from the Grayscale Bitcoin ETF rocked the market hard last week, leading to a dramatic decline in the BTC price. However, with the new week, there has been a change in direction as investors begin to get bullish on Bitcoin once more. As a result, the outflows from the Grayscale ETF have slowed down, reaching one of its lowest points for the month. Grayscale Bitcoin ETF Outflows Drop 60% Grayscale outflows ramped up last week, spearheading what would turn out to be a full week of outflows from Spot Bitcoin ETFs for the first time ever. The outflows rose rapidly over the week, even moving into the new week. However, inflows into Spot Bitcoin ETFs have been on the rise, which have overshadowed the outflows from GBTC. Related Reading: Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally Despite the outflows from the GBTC continuing, it has begun to spin into a more positive narrative as the number of BTC flowing out of the fund is declining fast. To put this in perspective, data shows there was 299.8 BTC moved out of the fund on Wednesday, March 27, and on Thursday, March, 20204, this figure dropped to 104.9 BTC, representing a 60% drop. This marks the second day with the lowest outflows from the Grayscale Bitcoin ETF right behind the March 12 outflows of 79 BTC. It also points to a decline in the volume of outflows as investors start to level out and find their footing elsewhere. Nevertheless, the GBTC has remained the loser of the Spot Bitcoin ETF race, nursing a full month of outflows so far. Since the ETFs were first approved in January until now, there has been more than $14.6 billion moved out of the fund, which accounts for around 50% of its total balance. These BTC have presumably found a home in other Spot ETF funds which have been seeing massive inflows. Unlike last week, inflows have also dominated Spot Bitcoin ETFs this week. Total inflows for the week crossed above $800 million, bringing the total Assets Under Management (AuM) to almost $57 billion in less than three months. Why This Could Trigger A BTC Price Rally The last time that GBTC outflows saw a slowdown after rising for about a week, it triggered a response from the Bitcoin price in the form of a rally. Inflows also continued to dominate for the next couple of weeks and during this time, the BTC price enjoyed a long stretch of recovery. It went from $40,000 to over $70,000 in the space of two months. Related Reading: Dogecoin Holder Base Reaches New Record Amid Surge In Interest If this trend repeats itself this time around, then another massive BTC price rally could be around the corner. A similar price increase would also put Bitcoin right above $100,000 in the next few months. In this case, the uptrend would be far from over. At the time of writing, Bitcoin is still struggling to break $70,000 after a 1% drop in the last day. BTC price jumps above $70,000 | Source: BTCUSD on Tradingview.com Featured image from Which.co.uk, chart from Tradingview.com
BlackRock’s CEO Larry Fink says he’s been “pleasantly surprised” at the level of retail demand for his firm’s spot Bitcoin ETF.
Trading under the ticker DEFI, asset manager Hashdex’s Bitcoin Futures ETF – which had been trading as a futures-based fund on the New York Stock Exchange since 2022 – was renamed and converted into the Hashdex Bitcoin ETF and now operates as a spot bitcoin fund.