Outflows from the Grayscale Bitcoin Trust (GBTC), the world’s largest bitcoin fund at the time, which converted from a closed-end structure into an ETF that allowed redemptions for the first time in 10 years, weighed on bitcoin’s price over the first weeks. Later, inflows to rival funds overcame the negative trend, propelling BTC to an all-time high in March. Original
The so-called open interest or the number of active bets in standard ether futures rose to a record of 7,661 contracts, equaling 383,650 ETH and $1.4 billion in notional terms, the exchange said in an email to CoinDesk. The previous peak of 7,550 contracts was set one month ago. The standard contract is sized at 50 ETH. Source
CSOP Asset Management, a regulated asset management company, has become the first to launch an inverse Bitcoin ETF in Hong Kong’s markets. This allows traders and investors to speculate on the decline of the cryptocurrency’s value. The product complements other ETF products already available, further establishing the city as an international crypto market. CSOP Asset […] Original
Solana’s SOL and Ripple’s XRP were notable outperformers. Original
The much-anticipated launch of several Ethereum-based spot exchange-traded funds (ETFs) failed to ignite a significant Ethereum (ETH) price rally. Despite considerable trading volumes and large inflows for the “newborn” ETFs on their first day, the Grayscale outflows have been too massive (once again) to propel the Ether price upwards. Ethereum ETFs Start Strong, But Grayscale … Eric Balchunas, a senior ETF analyst at Bloomberg, shared via X (formerly Twitter), “DAY ONE in the books for Eth ETFs who did $1b in total volume, which is 23% of what the spot…
Investors’ eyes are fixed on spot Ethereum ETFs and how products could perform in the opening months after Bitcoin funds were hugely successful. On Tuesday, the first nine U.S. spot Ethereum (ETH) ETFs opened for trading on national exchanges following the Securities and Exchange Commission’s (SEC) final greenlight. Wall Street players and retail investors can now access exposure to crypto’s second-largest decentralized token, ETH, via a regulated institutional wrapper. According to Bloomberg’s James Seyffart, the funds debuted with nearly $10.3 billion in assets under management (AUM). Most of that money is…
Amid rising institutional engagement in Bitcoin, a sharp spike in exchange-traded fund (ETF) inflows over the past few days has sparked interest from traders and analysts alike. Earlier today, a noteworthy analysis from the popular trader Skew on social platform X highlighted a potential risk for Bitcoin amidst its current influx of capital. Skew pointed out the phenomenon he dubs the “headline curse,” noting that while the significant inflow of over $500 million into United States spot Bitcoin ETFs signifies growing institutional confidence, it may also foreshadow a looming price…
Investors traded over $1 billion worth of shares – or ether {{ETH}} – of the freshly launched ether exchange-traded fund (ETF) issuers on the first day of trading, data from Bloomberg shows. Source
Bitwise disclosed several ENS addresses used to store Ethereum tokens for its spot ETH ETF, which launched on Tuesday. Bitwise became the first U.S. spot Ethereum (ETH) ETF issuer to publish wallets after committing to transparency for its ETHW fund. The wealth manager made a similar move in January when it disclosed public Bitcoin (BTC) addresses for assets underpinning the BITB spot BTC ETF. Five addresses assigned Ethereum Name Service (ENS) tags were posted shortly before ETHW and eight other funds started trading. ENS sub-names simplify Ethereum addresses, which are typically…
“We assume $ETHE volume is mostly outflows,” Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X. Grayscale’s ETHE, in similar fashion to its Bitcoin Trust (GBTC), entered the race with over $9 billion in assets, thus giving rise to the idea that much of its volume is due to outflows. Source