“While this is an unpopular narrative, it would be expected to see inflows slow down after prices experience significant intraday volatility,” the report said. “Based on our reversal indicators, a retracement to $59,035 appears more likely, offering better risk-reward entry levels,” which would indicate another 10% drop from current BTC prices. Original
Tag: ETF
Vanguard Group’s outgoing CEO still not bullish on Bitcoin ETF
Vanguard Group CEO Tim Buckley is standing firm in his decision not to offer the company’s customers spot Bitcoin (BTC) ETF investment opportunities, even though several competitors have already introduced them. Buckley explains stance on Bitcoin ETFs Despite facing criticism from customers and ongoing inquiries about the firm’s plans to offer them, Buckley has remained steadfast in his strong opposition to Bitcoin exchange-traded funds (ETFs). Buckley highlighted Bitcoin’s extreme volatility and speculative nature, noting its lack of stability, reliability as a store of value, and absence of underlying cash flows…
Senators raise concerns over crypto ETF approvals, face industry backlash
Two US Senators have recently expressed concerns to the Securities and Exchange Commission (SEC) regarding the approval of further crypto exchange-traded funds (ETFs). Senators Jack Reed and Laphonza Butler, in a communication with SEC Chair Gary Gensler, highlighted the potential risks to retail investors, specifically citing the possibilities of fraud and manipulation in markets for smaller cryptocurrencies. They emphasized the findings of a FINRA survey, revealing that 70% of brokers’ interactions with retail investors breached fair disclosure norms, with misleading comparisons of cryptocurrency to cash and inadequate explanations of risks.…
Grayscale Submits Revised Application For Ethereum Spot ETF
Asset management firm Grayscale Investments has updated its application for an Ethereum spot ETF (exchange-traded fund) with the United States Securities and Exchange Commission (SEC). Ethereum Spot ETF Case Just As Solid As Bitcoin’s, Grayscale Argues According to a recent post on X by Craig Salm, Grayscale’s chief legal officer, the asset management firm has revised its 19b-4 form for an Ether spot ETF. Salm claimed that this move was “important” in an effort for Grayscale to list and trade shares of its Ether Trust on the New York Stock…
Bitcoin Suffers Crash To $65,000 As Spot ETF Inflows Wane
Bitcoin is closing out the week on a rather bearish note after suffering a massive crash in the early hours of Friday. The crash pushed the price below $66,000, drawing the rest of the crypto market down with it in the process. The reason for this crash could be traced back to what started the bull run in the first place – Spot Bitcoin ETFs. Spot Bitcoin ETF Net Flows Suffer After a long strength of what seemed to be only inflows for Spot Bitcoin ETFs across the space, institutions…
Bitcoin to hit $100k amid spot Ethereum ETF postponement
One analyst projects Bitcoin to rise to $100,000 in the second half of the year, while the outlook for the spot Ethereum ETF is not as optimistic. A macroeconomist under the pseudonym Luxon shared expectations similar to those of journalist Colin Wu. The expert added that American investment giants could invest 1-3% of their assets under management (AUM) in Bitcoin (BTC). This is due to the postponement of the Federal Reserve’s rate reduction from May to June or later and the gradual implementation of institutional plans to invest in BTC.…
SEC Orders First Trust-SkyBridge to Declare its Bitcoin ETF Application Abandoned
First Trust was one of the first to file for a BTC ETF, and was rejected by the SEC in January 2022. Original
Blackrock’s Spot Bitcoin ETF Holdings Near 204K BTC as Demand Soars
Blackrock, the world’s largest asset manager, has hit a significant milestone with its spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT). The fund’s crypto holdings have reached nearly 204K bitcoins, representing over $14.76 billion in assets under management (AUM). IBIT’s Bitcoin Holdings Continue to Grow Blackrock’s Ishares Bitcoin Trust (IBIT), the world’s largest […] Original
Grayscale proposes Bitcoin Mini Trust ETF, aims for lower fees
Grayscale is seeking the SEC’s approval for a Bitcoin Mini Trust to reduce its Bitcoin ETF fees. The mini trust aims to offer a more cost-effective option to the company’s existing $28 billion GBTC spot Bitcoin ETF. The proposal, detailed in a recent SEC filing, outlines Grayscale’s strategy to fund this new offering by reallocating a portion of the shares from its GBTC ETF. The introduction of the Grayscale Bitcoin Mini Trust aims to lower the aggregate fees for current GBTC investors, promising them a reduction in expenses without the…
VanEck’s HODL BTC ETF Sees Record $119M Inflow After Fee Cut to 0%
With Monday’s inflows, VanEck’s offering became the sixth-largest U.S.-listed spot bitcoin ETF, handling more than 6,000 BTC ($440 million) in assets under management and overtaking rivals Invesco (BTCO) and Valkyrie (BRRR), according to BitMEX data. Source