According to recent data, the ten spot bitcoin exchange-traded funds (ETFs), excluding Grayscale’s Bitcoin Trust (GBTC), acquired 548,556.62 BTC from the market over the last 128 days. This acquisition means the ten newly introduced spot bitcoin ETFs collectively hold 2.78% of the crypto asset’s current circulating supply. Besides Grayscale’s Pre-Existing Fund, Blackrock’s IBIT Leads New […]
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Lackluster Performance for Hong Kong Bitcoin ETFs Since Launch
Since the Hong Kong spot bitcoin exchange-traded funds (ETFs) began trading, their performance has been underwhelming, with three ETFs accumulating around 8 million in net assets. Inconsistent Inflows and Outflows Mark Hong Kong Bitcoin ETFs’ First Weeks On Thursday, the spot bitcoin ETFs in Hong Kong experienced net negative outflows of approximately 104.79 BTC, valued […]
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US Bitcoin ETFs See 4 Days of Inflows, Blackrock’s IBIT Nears GBTC’s Reserve Levels
On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) marked their fourth day of inflows, accumulating 7.3 million. Grayscale’s Bitcoin Trust (GBTC) also experienced its fourth day of inflows, gaining .6 million during the trading sessions. Spread Between IBIT and GBTC Bitcoin Reserves Grows Thinner U.S. spot bitcoin ETFs continued their streak this week with four […]
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US Bitcoin ETFs Achieve 3-Day Inflow Streak, Netting $303M on Wednesday
U.S. spot bitcoin exchange-traded funds (ETFs) performed well on Wednesday, completing a three-day streak of inflows and accumulating 3 million in gains on May 15. Data indicates Blackrock’s IBIT inflows have been minimal, recording zero inflows over the past few trading sessions. In contrast, Grayscale’s Bitcoin Trust (GBTC) saw inflows of approximately million during […]
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US Bitcoin ETFs See $166.5M Inflows in Early Week Trading Sessions
U.S. spot bitcoin exchange-traded funds (ETFs) experienced two consecutive days of net inflows on Monday and Tuesday, totaling 6.5 million across both sessions. U.S. Bitcoin ETFs Record 2 Days of Net Inflows The week began positively for U.S. spot bitcoin ETFs, with notable inflows seen during the initial two trading days. On Monday, the collective […]
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Vanguard Appoints Crypto-Friendly Salim Ramji as CEO, Sparks Speculation on Bitcoin ETFs
Salim Ramji, a former executive at Blackrock renowned for his leadership in Ishares and Index Investments, and for overseeing the filing for Blackrock’s Ishares Bitcoin Trust, has been appointed the new CEO of Vanguard, signaling a potential shift in the asset management firm’s stance on cryptocurrencies. Ramji, set to replace Tim Buckley on July 8, […]
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From Historic Banking Family to BTC — Rothschild-Linked Firm Invests in Bitcoin ETFs GBTC and IBIT
According to a recent earnings filing, Edmond de Rothschild Holding S.A., a private banking and asset management entity linked with the distinguished Rothschild banking family from France, holds shares in Grayscale’s GBTC and Blackrock’s IBIT. Edmond de Rothschild Holding’s 13F Filing Reveals Investment in Grayscale and Blackrock Bitcoin ETFs For years now, speculative discussions on […]
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Is The Crypto Winter Thawing? US Bitcoin ETFs Record First Inflows In Weeks – Coinshares
After experiencing outflows for four consecutive weeks, US spot Bitcoin exchange-traded funds (ETFs) have marked a notable shift in momentum, witnessing net inflows once again.
According to recent data from CoinShares, digital asset investment products have seen inflows totaling 0 million for the first time in five weeks.
This change suggests renewed investor interest in crypto-focused investment products, particularly in the United States, where most of these inflows, totaling over 0 million, occurred.
A Mixed Bag Of Global Investment Flows
Grayscale, a major player in the digital asset space, reported a significant decrease in weekly outflows, recording its lowest since January at 1 million. This trend indicates a potential stabilization in the market after a period of volatility and declining interest.
Meanwhile, interaction between US regulators and spot ETF issuers has remained minimal, particularly for spot Ethereum ETF applications.
This lack of engagement has fuelled speculation that approval for these ETFs might not be approaching, as reflected by the amount of outflows from Ethereum-based products. James Butterfill, Head of Research at Coinshares, particularly noted:
Low interaction by the US regulators with ETF issuer applications for a spot Ethereum ETF have increased speculation that the ETF approval is not imminent, this has been reflected in outflows which totalled USm last week.
On a global scale, the investment landscape showed mixed signals. After a week of record inflows likely driven by “seed capital” post-Bitcoin ETF launches, as highlighted by Butterfill, Hong Kong saw a significant drop to million in inflows.
Conversely, Switzerland experienced inflows amounting to million. Canada and Germany continued to see outflows, with their year-to-date figures reaching a combined 0 million, indicating sustained bearish sentiment in these markets.
Bitcoin has rebounded with 4 million in inflows, counteracting a generally “weak month.” In contrast, short-Bitcoin exchange-traded products (ETPs) recorded outflows totaling .1 million, up to million over the last eight weeks.
These figures highlight the volatile dynamics within the crypto market, with Bitcoin currently showing stronger performance than Ethereum.
Bitcoin And Ethereum Market Performance
Over the past 24 hours, Bitcoin surged nearly 3%, while Ethereum increased by only 1.2%. Despite these gains, both assets are down by 2.3% and 6% over the past week.
Amidst these market movements, crypto analyst Ali provided insights into Bitcoin’s potential paths. According to Ali, Bitcoin could climb to ,000 if it reclaims ,290 as a support level.
Failing to achieve this could see the flagship crypto drop to support at ,970, based on Market Value To Realized Value (MVRV) extreme deviation pricing bands, identifying this figure as the all-time mean.
If #Bitcoin can reclaim ,290 as support, it is likely to rise towards ,610. However, if it fails to surpass ,290, $BTC might retest support at ,970. pic.twitter.com/s4D1fTEU7k
— Ali (@ali_charts) May 12, 2024
Featured image from Unsplash, Chart from TradingView
Ethereum ETFs Face Uphill Battle With SEC: Analyst Foresees Possible Delay Until 2025
A senior Bloomberg ETF analyst predicts that spot ethereum exchange-traded funds (ETFs) in the U.S. are unlikely to emerge this year. Despite the Securities and Exchange Commission (SEC) approving spot bitcoin ETFs, the same is not expected for Ethereum due to different regulatory considerations. The forthcoming U.S. election could further impact this scenario, potentially altering […]
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Wells Fargo Holds Spot Bitcoin ETFs, Reveals SEC Filing of Grayscale Shares
Wells Fargo, a major US banking entity, is now storing a spot bitcoin ETF for its customers, as revealed in a new SEC filing, holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was recently converted into an ETF. Though the value of these shares stands at 1,207, a small fraction of the bank’s […]
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