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GBTC Sees Over 80,000 Bitcoin Leave in 12 Days While Rival ETFs Amass 118,000 BTC
24.1.2024
Statistics reveal that Grayscale’s Bitcoin Trust (GBTC) has offloaded a further quantity of bitcoin, with the fund’s holdings decreasing from Tuesday’s 552,681.22 bitcoin to Wednesday’s total of 536,694.93 bitcoin. Over the last day, the fund experienced an outflow...
Do Bitcoin ETFs Kill the Bull Case for Crypto Equities?
24.1.2024
The days of rising crypto prices lifting all boats, including mining stocks, may be gone. But it still looks like being a good year for digital assets, says Alex Tapscott
Arkham Reveals Onchain Addresses Linked to 4 Major Bitcoin ETFs, Boosting Market Transparency
24.1.2024
On Jan. 23, Arkham, a firm specializing in onchain intelligence, announced the identification of four lists of connected addresses linked to four new spot bitcoin exchange-traded funds (ETFs). These groups of addresses are reportedly associated with fund managers including Blackrock, Fidelity...
Franklin Templeton Confident in Spot Bitcoin ETF’s Future, Awaits Advisor Familiarity
24.1.2024
The renowned financial services firm Franklin Templeton remains optimistic about the future of its spot Bitcoin ETF despite not yet achieving significant trading volumes compared to industry giants like BlackRock, Fidelity, and Grayscale. While these major players account for about 90% of total...
Exploring how Bitcoin ETFs and Grayscale will affect cryptocurrency
24.1.2024
Spot Bitcoin ETFs are now a reality. Investors are headed to their preferred asset management platform to diversify their portfolios. Bitcoin was in a dark space before January 10, 2024. It has now been tagged with due recognition, enabling investors to explore digital assets. What keeps the sphere...
Bitcoin ETFs to Likely Divert Users and Trading Volumes Away from CEXs, Says Anthony Bevan
24.1.2024
Recently approved spot bitcoin exchange-traded funds (ETFs) are likely to divert investor interest and trading volume away from centralized exchanges (CEXs), according to Anthony Bevan, CEO of the wealth management firm Blockguard. Bevan, a full-time trader and investor, added that spot bitcoin...
JPMorgan Analysts Downgrade Coinbase Shares to Underweight, Citing Impact of Spot Bitcoin ETFs
24.1.2024
JPMorgan analysts have downgraded Coinbase shares from Neutral to Underweight, causing a 5% drop in the stock’s value during premarket trading on Tuesday. The analysts have also established a price target of $80 per share, indicating a significant downside risk of over 37% from the current...
GBTC ETF Sees Another $515M in Outflows as Bitcoin Price Remains Below $40k
24.1.2024
GBTC has reported another $515 million in outflows on January 23, taking the total outflows to $3.4 billion since its conversion to spot ETF earlier this month. Nine other recently approved spot Bitcoin ETFs recorded a total of $249 million in inflows. Bitcoin lost all of its gains since...
SEC Got SIM Swapped: How Hacker Gained Control of SEC’s X Account
24.1.2024
The U.S. Securities and Exchange Commission (SEC) has admitted that a SIM swap attack compromised its X account, where a fake announcement about the approval of spot bitcoin exchange-traded funds (ETFs) was posted. “The unauthorized party obtained control of the SEC cell phone number...
Peter Schiff Says All Spot Bitcoin ETFs Are Now in Bear Markets — Warns of Deeper Losses
24.1.2024
Gold bug and economist Peter Schiff has warned of deeper losses for spot bitcoin exchange-traded funds (ETFs), emphasizing that they are “now in bear markets.” Referencing the Proshares Bitcoin Strategy ETF which is down more than 50% in over two years, Schiff predicted that those...
JPMorgan Sees Challenges Ahead for Crypto Market — Downgrades Coinbase Stock
23.1.2024
Warning of a difficult time ahead for the crypto market, global investment bank JPMorgan has downgraded Coinbase stock. Emphasizing that crypto prices are already under pressure, JPMorgan warned of “greater potential for cryptocurrency ETF enthusiasm to further deflate,” driving with...
Bloomberg: Don’t Blame Bitcoin ETFs For Crypto Market Dump – Here’s the Latest
23.1.2024
Bitcoin ETFs are not to blame for Bitcoin (BTC)’s seismic price drop this month, according to Bloomberg ETF analyst Eric Balchunas. Tapping a fresh multi-year high of $49,000 on January 11, the launch of several U.S.-based Bitcoin spot ETFs that same day has appeared to mark a definitive local...
Bitcoin ETFs: Mixed signals in first week, Long-term outlook bullish
23.1.2024
It has been a week since Bitcoin ETFs started trading in the US. The net inflow into the ETFs recorded till now is 572 million dollars. While the number is outstanding, it pales in comparison to the expected numbers. Traders and BTC enthusiasts forecast the inflow to be in the multiple billions....
Bitcoin ETFs Gain Momentum in Asia Post U.S. Approval
23.1.2024
As the first Bitcoin spot price exchange-traded funds receive historic approval in the United States, Asian industry leaders, particularly in Hong Kong, are actively exploring similar crypto products. BitGo’s APAC Director Abel Seow told Cryptonews that they are witnessing an increased interest...
Wave of Spot-Based Bitcoin ETFs Could Drive Bitcoin to $60K This Year: CoinShares
23.1.2024
Despite facing hurdles, bitcoin’s price could rebound and potentially soar to $60,000 this year, per CoinShares’ analysis. In a report published Monday, CoinShares forecasted 2024 as a pivotal year for digital assets, anticipating a surge in bitcoin’s value following the recent launch...
Dogecoin Holders are Fleeing to This New Crypto ICO Platform to Hunt the Next 1000x Token
22.1.2024
Crypto ICO Launchpad XYZ’s new token $LPX is seeing heightened interest as investors diversify from struggling Dogecoin. Image by Lemonsoup14, Adobe Stock. Dogecoin—once the hottest meme coin in the market—has struggled over the past year with a 6.2% decline in price. As crypto investors...
Spot Bitcoin ETFs Record $4B in Inflows as Incumbent Crypto Fund Issuers Lose $2.9B
22.1.2024
Source: AdobeStock Spot Bitcoin exchange-traded fund (ETF) is garnering rising interest, but crypto fund incumbents are on the losing side of the equation. CoinShares’ Digital Asset Fund Flows Weekly Report on Jan 22 disclosed a substantial $4.13 billion in inflows since the launch of the first...
Blackrock and Fidelity ETFs Lead the Charge in Bitcoin Accumulation, Holding Over $2.6 Billion in Combined BTC Assets
22.1.2024
Recent data reveals that Blackrock, the globe’s leading asset manager boasting over nine trillion in assets under management (AUM), now possesses 33,430.56 bitcoin, valued at approximately $1.34 billion. Similarly, the financial powerhouse Fidelity has increased its bitcoin holdings, with...
Castle Funds’ COO Exclusive: Just Because Bitcoin ETFs Are Allowed Doesn’t Mean They’ll Succeed
22.1.2024
In an insightful interview with Cryptonews, Dan Hoover, the Chief Operating Officer and Chief Compliance Officer at investment firm Castle Funds, discussed several Bitcoin ETF-related topics. These include how valuable Bitcoin ETF trading volume information really is, what it takes for ETFs...
Bitcoin ETFs Rapidly Accumulate 95,000 BTC, Nearing $4 Billion AUM
22.1.2024
In just six days of trading, the recently approved spot Bitcoin exchange-traded funds (ETFs) have collectively accumulated an impressive 95,000 BTC, with total assets under management (AUM) inching close to the $4 billion mark. According to Eric Balchunas, a senior ETF analyst at Bloomberg...