Rich Dad Poor Dad author Robert Kiyosaki has explained why he won’t invest in a spot bitcoin exchange-traded fund (ETF). “Just as I own gold and silver coins and mines and own apartment houses, I do not own gold or silver ETFs,” he stressed. The famous author stated this week that he believes the price […] Original
Blackrock, the world’s largest asset manager, shattered its record for assets under management (AUM), reaching a staggering $10.5 trillion. This financial behemoth also continues to dominate the U.S. spot bitcoin ETF market with its Ishares Bitcoin Trust (IBIT), which has amassed nearly 270K bitcoins. IBIT Has Amassed Nearly 270K Bitcoins Blackrock, the world’s largest asset […] Original
The Grayscale Bitcoin Trust (GBTC), an exchange-traded fund, has experienced a significant drop in outflows, reaching a record low that was nearly 90% lower than the previous day. The latest shift occurred simultaneously with Bitcoin’s price rebound after the latest United States inflation data was released, which introduced volatility into the market. On April 10, GBTC experienced outflows amounting to $17.5 million, a stark contrast to the $154.9 million recorded on April 9, based on data from Farside. Bitcoin ETF Flow (US$ million) – 2024-04-10 TOTAL NET FLOW: 123.7(Provisional data)…
The much-anticipated arrival of spot Ethereum exchange-traded funds (ETFs) in the US seems to be hitting a snag. Industry leaders are voicing growing concerns about the likelihood of securing regulatory approval from the Securities and Exchange Commission (SEC), with a deafening silence from the agency fueling anxieties. Jan van Eck, CEO of investment firm VanEck, recently cast a shadow of doubt on the possibility of SEC approval for spot Ether ETFs in May. In a CNBC interview, van Eck expressed his belief that their application would likely be rejected, citing…
All-time spot Bitcoin ETF trading volumes exceeded $200 billion on April 8 despite outflows from Grayscale’s GBTC and a shift in market share. Grayscale’s converted Bitcoin (BTC) ETF shed $154.9 million, contributing to $19.4 million in cumulative outflows from all 10 U.S. spot BTC investment products, per SoSoValue. The data tracker ranked BlackRock’s IBIT fund as the largest intaker of investor demand with $128.6 million in inflows. Bitwise’s $3.7 million followed BlackRock as the second-biggest inflow of the day, as Fidelity came in third with $3 million. Six spot BTC…
In the three months since, GBTC has seen total outflows worth $15 billion, according to BitMEX Research. In March, these were hitting $600 million a day but have fallen significantly since. On Monday and Tuesday this week, they stood at $303 million and $155 million, respectively. Original
Fred Thiel, CEO of Marathon Digital Holdings Inc., suggested that recent spot Bitcoin ETF approvals have accelerated the market’s appreciation, typically expected post-Bitcoin halving, by attracting significant capital into the market. Thiel remarked that this shift has led to an unusual pre-halving price increase, diverging from the traditional pre-halving price decline, with Marathon’s break-even rate […] Original
The Bitcoin price has seen a notable fluctuation, briefly surpassing $72,500 on Monday before dipping below the $70,000 threshold on Tuesday. This movement can be attributed to a risk-off sentiment among investors, largely in anticipation of the latest US Consumer Price Index (CPI) figures today. Following a low of $68,200 on Tuesday, Bitcoin managed a slight recovery, stabilizing above $69,400 at the time of reporting. Concurrently, the Hong Kong Securities and Futures Commission (SFC) has updated its registry of virtual asset management funds early on April 10. Notably, the SFC…
Hong Kong’s Securities and Futures Commission is reportedly ready to approve the spot Bitcoin exchange-traded fund, signaling a major breakthrough in the city’s crypto market. Hong Kong is gearing up to approve the first batch of spot Bitcoin ETFs in the region by Apr. 15, Tencent News has learned, citing multiple sources close to the Hong Kong Securities and Futures Commission. The report says the Hong Kong regulator initially planned to approve only four spot Bitcoin ETFs in the first batch. However, the latest changes revealed that at least two…
Bitcoin ETFs saw a net outflow of $223 million on Monday after four consecutive days of net inflow. According to SoSo Value, Monday was the most significant outflow for Bitcoin ETFs in over two weeks. Last week, BTC ETFs saw four days of consecutive inflows totaling nearly $570 million, driving Bitcoin’s price to $72,000. However, Monday’s outflow caused BTC’s daily trading volume to decline by 6%, forcing the price to retrace to $69,000. Bitwise’s ETF saw the most significant single-day net inflow at $40.3 million. However, nearly $303 million was…