The United States spot Bitcoin exchange-traded fund (ETF) market is struggling with inflows as investors withdraw their assets in droves. This wave of withdrawals has affected the two largest funds, causing them to break their inflow streak and even lose some of their assets. According to data from CoinGlass, the Fidelity Wise Origin Bitcoin (FBTC)...Read More
After a few days of hovering above $66,000, bitcoin (BTC) has dropped to a low of $63,500 amid heightened volatility. Coincidentally (or not), the amount of outflows from the United States spot Bitcoin exchange-traded funds (ETF) market on April 24 hit $120 million. BTC Plunges by 4.5% Data from CoinMarketCap shows that BTC lost roughly...Read More
More traditional finance firms in the United States are jumping on the crypto bandwagon and giving their clients access to the burgeoning sector. This is seen in the increasing portfolio allocation given to crypto investment products. A tweet by Bloomberg exchange-traded fund (ETF) analyst Eric Balchunas has revealed that two U.S. investment advisors, Legacy Wealth...Read More
Bitcoin completed its fourth halving on April 20th, with block rewards falling from 6.25 BTC to 3.125 BTC. Historically, halvings have been related to growing bitcoin prices and eventually marked the beginning of new cycles followed by massive surges in value. The latest halving is no different, even as BTC reached an all-time high beyond...Read More
The latest inflow on April 22 was $19.7 million which means that BlackRock is now in the top ten of longest daily inflow streaks for all US exchange-traded funds. The 70-day milestone ties BlackRock’s IBIT fund with JETS, an ETF that combines shares in an index of airline industry companies. It has also achieved 70...Read More
Bitcoin halving concerns triggered the 11th consecutive week of outflows from the blockchain equities. According to data compiled by CoinShares, blockchain equities experienced $9 million in withdrawals as investors worried about halving the impact on mining companies because it can affect their profitability and, subsequently, the value of their investments in those firms. The latest...Read More
The world’s largest asset manager is aiming to retain its position as leader of the spot Bitcoin ETF market following a massive exodus of capital from its flagship GBTC product. In order to do this, Grayscale has applied for a smaller Bitcoin ETF with highly competitive fees to compete with its ten rivals. According to...Read More
Hong Kong authorities have arrested over 70 individuals linked to the HK$1.6 billion JPEX cryptocurrency scandal that shook the city-state. According to the latest report by SCMP, approximately HK$230 million – worth around $29.37 million – in assets has been frozen, as disclosed by Police Commissioner Raymond Siu Chak-yee. Hong Kong Authorities Crack Down on...Read More
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...Read More
Preliminary data from Farside Investors revealed that four of the new spot Bitcoin ETFs had another day of zero flows on April 16. These were Bitwise (BITB), Invesco Galaxy (BTCO), WisdomTree (BTCW), and Hashdex (DEFI). Additionally, Grayscale’s GBTC and ARK 21Shares’ ARKB had outflows of $79.4 million and $12.9 million respectively. Nevertheless, Bloomberg ETF analyst...Read More
Hong Kong regulators recently approved spot Bitcoin and Ethereum exchange-traded fund applications, but Bloomberg ETF analyst Eric Balchunas predicts that the local ETF market may not perform as well as the US due to the current lack of big players and the possibility of high fees. According to Balchunas, the Hong Kong Bitcoin and Ether...Read More
Bitcoin (BTC) could be worth $91,000 at the bottom of the bear market and $650,000 at the top of the bull cycle upon the full deployment of the cryptocurrency’s exchange-traded funds (ETFs) in the coming years. According to a tweet by Bitcoin analyst Willy Woo, the digital asset can achieve these price targets if investors...Read More
The week started on a strong note, with Bitcoin rising above $66,000, a 3.02% increase over the past day owing to Hong Kong’s ETF development. With spot cryptocurrency ETFs being all the roar, Hong Kong has joined the trend by granting approval for several spot Bitcoin and Ethereum ETFs on Monday. Hong Kong Welcomes Spot...Read More
BlackRock’s IBIT spot Bitcoin exchange-traded fund (ETF) has crossed the $15 billion mark in total inflows, a new high since it began trading on January 11. However, the overall daily inflows for spot Bitcoin ETFs have been decelerating since their peak on March 12, when they were $1.05 billion. BlackRock’s IBIT Daily Inflows Surge BlackRock’s...Read More
Grayscale Bitcoin Trust (GBTC) recorded its lowest net outflow of $17.5 million for the first time since its conversion to a spot Bitcoin exchange-traded fund (ETF) on Wednesday, according to Farside Investors data. This follows a statement by Grayscale Investments CEO Michael Sonnenshein that the company’s fund is close to a point of “equilibrium” regarding...Read More
Grayscale CEO Michael Sonnenshein predicted that outflows from the Grayscale Bitcoin exchange-traded fund (GBTC) will stabilize and reach an equilibrium. Grayscale has been facing stiff competition in the spot Bitcoin exchange-traded fund (ETF) market since January, when the U.S. Securities and Exchange Commission (SEC) approved the product. Grayscale CEO Sees Outflows Reducing According to Sonnenshein,...Read More
Though Bitcoin (BTC) spot ETFs launched by BlackRock and others have been all the rage in crypto, there’s a slightly older Bitcoin fund that’s also seen exponential gains in the past few months. The 2X Bitcoin Strategy ETF (BITX) has quadrupled its Bitcoin exposure since January, now reigning as one of the largest Bitcoin futures...Read More
On April 10, the Hong Kong Securities and Futures Commission (SFC) updated its virtual asset management fund company list. According to Tencent News, the SFC will reveal Hong Kong’s first spot Bitcoin ETFs on April 15, and the Hong Kong Stock Exchange will need two weeks to prepare for their release. Harvest International and China...Read More
The United States Securities and Exchange Commission (SEC) has postponed its decision on the New York Stock Exchange’s proposal to introduce option trading on spot Bitcoin exchange-traded funds (ETFs). Grayscale Bitcoin Trust and Bitwise Bitcoin ETF are directly affected since they hold BTC on the NYSE. SEC Delays Decision on Spot BTC ETF Options Trading...Read More
U.S. Bitcoin spot ETFs have absorbed $12.3 billion of net inflows since launching three months ago. Just how much have they impacted the broader Bitcoin market? Lead Glassnode analyst James Check provided analysis on Wednesday measuring the effect of Bitcoin ETFs next to the asset’s existing futures and spot markets – using on-chain data. Grayscale...Read More
Monday, April 8, saw an aggregate outflow of $224 million from the newly launched eleven spot Bitcoin ETFs, according to preliminary data from Farside Investors. This reverses four days of inflows, during which a total net of $570 million flowed into the institutional investment products. This week’s outflow was again exacerbated by Grayscale, which saw...Read More
With the broader market resurgence, digital assets investment products also maintained their upward trend. According to CoinShares’ latest data, inflows reached $646 million last week. As a result, year-to-date inflows have reached an all-time high of $13.8 billion, significantly surpassing the $10.6 billion recorded in 2021. ETF Hype Slows Down The new feat comes after...Read More
Chinese mainland-based equity funds are reported to have filed applications to introduce spot Bitcoin exchange-traded funds (ETFs) through their Hong Kong subsidiaries. The development comes amid a month-long surge in crypto prices and heightened efforts by Hong Kong to establish itself as a global fintech hub. China Equity Funds Apply for Bitcoin ETFs According to...Read More
The first quarter of 2024 turned out to be Bitcoin’s (BTC) third-best in the past three years, according to a report from crypto data analytics platform Kaiko. It revealed that the leading digital asset recorded over $1.4 trillion in trading volumes between January and March 2024. A Surge in Bitcoin Trading Volume Q1 2024 was...Read More
The Purpose Bitcoin ETF (BTCC) – the world’s first Bitcoin exchange-traded fund – has struggled to compete with its U.S. counterparts since its January debut. The Canadian fund has lost 20% of its Bitcoin (BTC) under management over the past three months, despite rising demand and record-high prices for the asset during that time. Purpose...Read More
Wednesday saw spot Bitcoin ETF flows shift to the positive side for the week, surpassing the outflows recorded on Monday. This turnaround can be attributed to Grayscale’s GBTC experiencing a slowdown in outflows, with Wednesday’s outflow amounting to $75.1 million. Inflows Surge to $113 Million, GBTC Outflows Ease As of Wednesday, data from Farside indicates...Read More
In Asia, investors face turbulent times as automated trading bots react to data streaming from spot Bitcoin exchange-traded funds (ETFs). A report from Bloomberg indicates that these automated trading bots are potentially causing significant market volatility. Bitcoin Volatility in Asian Trading Market Shiliang Tang, president of Arbelos Markets, acknowledged the role played by these automated...Read More
Digital asset investment products experienced a positive shift in sentiment during the last week of March, with inflows reaching $862 million, nearly recovering from the previous week’s record outflows of $931 million. Despite this encouraging rebound, CoinShares revealed that ETF activity appears to be slowing down. In fact, the latest data shows that the daily...Read More
Cathie Wood’s ARK 21Shares Bitcoin exchange-traded fund (ETF) recorded net outflows exceeding $87 million on Tuesday, marking the highest outflow since its inception, as per data from Farside Investors. The outflows exceeded the amount seen from Grayscale’s GBTC, which recorded $81.9 million in outflows on the same day. Ark Invest Sees Second Day of Outflows...Read More
Amidst a market-wide correction, Coinbase experienced its second-largest Bitcoin outflow this week, with two massive withdrawals of 16,800 BTC and 17,000 BTC, respectively. Typically, when assets depart from centralized crypto exchanges like Coinbase, it indicates a bullish sentiment as it restricts the immediate selling pressure on those coins. Inflows to crypto exchanges, on the other...Read More
