Tag: ETF

BlackRock’s Bitcoin ETF draws $73m amid sluggish market

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BlackRock’s Bitcoin ETF was the only spot Bitcoin fund in the United States to record inflows on Monday, setting it apart from other ETFs that reported no inflows or experienced outflows. According to data from Farside Investors, the iShares Bitcoin Trust (IBIT) recorded net inflows of $73.4 million on April 15, albeit a decrease from the $111.1 million observed the previous day. This contrasted sharply with the other eight ETFs, which, aside from Grayscale’s offering, reported no inflows during the same period. The inflows into IBIT were unable to counterbalance…

Analyst Predicts $650K Bitcoin Price Once ETF Investors Fully Deploy Asset Manager Recommendations

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Popular onchain analyst Willy Woo has predicted a potential bitcoin price surge to $650,000 at the bull market’s peak. His prediction hinges on spot bitcoin exchange-traded fund (ETF) investors fully deploying their assets based on recommendations from asset managers. “These are very conservative numbers. Bitcoin will beat gold cap when ETFs have completed their role,” […] Original

Solana Price Jumps 7% On Bitcoin And Ethereum ETF Approvals, Network Congestion Update

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Solana’s price saw a notable recovery on Monday after a steep decline over the past seven days. This was supported by positive developments in the Bitcoin (BTC) and Ethereum (ETH) markets, which came alongside the approval of exchange-traded funds (ETFs) for both cryptocurrencies in Hong Kong.  Additionally, Solana addressed its ongoing network congestion issues with a new update, aiming to rectify transaction failures and outages. New Update Tackling Implementation Bug According to Mert Mumtaz, CEO of Helius Labs, Solana’s recent network congestion issues were attributed to an implementation bug rather…

Increased Bitcoin ETF Adoption Propels BTC Dominance To Highest Level Since 2021

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Bitcoin’s dominance within the cryptocurrency market has reached a three-year high, signaling strong demand for US spot Bitcoin ETF holding the largest digital asset and a challenging period for smaller tokens. Bitcoin accounted for nearly 55% of the $2.4 trillion digital asset market at the end of last week, a level not seen since April 2021. On Saturday, in particular, BTC’s dominance jumped to 57% as it briefly touched the $67,000 mark.  The next largest tokens by market share include Ethereum (ETH), Tether’s USDT stablecoin, Binance exchange’s native token Binance…

Hong Kong Boards the ETF Express

“A handful of $BTC and $ETH futures ETFs listed in Hong Kong in December 2022, and today, more than a year later, have a combined AUM of just under $170 million,” Acheson tweeted. “For contrast, $BITO – the largest U.S.-listed BTC futures ETF – has an AUM of over $2.8 billion.” Source

ETF Analyst Offers Sober Outlook on Newly Approved Hong Kong Bitcoin ETFs; Challenges $25B Inflow Estimate

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Following Hong Kong’s authorization of the region’s first spot bitcoin and ethereum exchange-traded funds (ETFs), Bloomberg’s senior ETF analyst Eric Balchunas shared his insights on social media about the new additions. Although there were anticipations of notable capital inflows into the Hong Kong ETFs, Balchunas mentioned that while it’s a positive step forward, he emphasized […] Original

Hong Kong (HK) Spot Bitcoin (BTC) ETF Applicants Claim Approval

Bitcoin gained on Monday, adding 3% after dropping to as low as $61,300 over the weekend. The weekend’s drop was due to geopolitical tensions, according to some analysts. Matteo Greco, a research analyst at Fineqia, said: “The weekend’s price drop was attributed to geopolitical tensions in the Middle East, with market sentiment improving after an announcement regarding a temporary halt in hostilities among the involved nations.” He also noted that the upcoming bitcoin halving, could trigger a short-term “sell the news” reaction before and after the event. An array of…

Bitcon, Ether Rise as Hong Kong Exchange-Traded Fund Applicants Say They’ve Been Approved for Bitcoin ETF

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Bitcoin ETF Issuers Push Holdings To 4.27% Of BTC Supply Amid Crash To $61,000

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There’s no denying the launch of Spot Bitcoin ETFs has done wonders for the price of Bitcoin and other cryptocurrencies in general. These ETFs have now unlocked institutional demand into the world’s largest crypto asset to change the dynamics ahead of the next halving. On the other hand, recent tensions between Iran and Israel have seen Bitcoin falling to as low as $61,000 in the past 24 hours to undo weeks of price increases.  Bitcoin ETF Wallets Now Whale Addresses The institutional demand for Bitcoin has been ramping up since…