Tag: ETF

Bitwise first to publish on-chain addresses for Bitcoin ETF holdings

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The Bitwise Bitcoin ETF (BITB) has published the on-chain addresses of its holdings – the first issuer to do so among the 11 approved funds. This major decision enables public verification of BITB’s holdings and flows directly on the blockchain. The move by Bitwise aligns with the core ethos of Bitcoin (BTC), which emphasizes transparency and open verification. Bitwise also expressed its ambition to expand these efforts. Collaborations with firms like Hoseki are on the horizon, aiming to provide real-time cryptographic attestations. Announcement: Today the Bitwise Bitcoin ETF (BITB) becomes…

Alameda gap is still haunting Bitcoin despite ETF approval 

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Despite spot Bitcoin ETFs generating over $20 billion in trading volume, the crypto market faces ongoing challenges with liquidity.  The market’s liquidity, as measured by Bitcoin’s market depth, indicates that the ease and speed of executing transactions in the digital currency remain suboptimal. The current Bitcoin (BTC) depth chart indicates that there is a considerable amount of orders placed both for buying (bids) and selling (asks) Bitcoin, yet the liquidity—referring to the ability to execute large orders without impacting the price significantly—is limited around the current price level. So, the…

BlackRock and Fidelity lead billion-dollar spot Bitcoin ETF race

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The SEC approved a handful of spot Bitcoin ETFs, but funds from two particular issuers are heads and shoulders above the lot while Grayscale’s GBTC bleeds outflows. Inflows of $1.9 billion and $1.6 billion confirmed spot Bitcoin (BTC) ETFs from BlackRock and Fidelity, respectively. They are the dominant issuers from a basket of 10 asset managers approved to list products by the U.S. Securities and Exchange Commission (SEC). Crypto native firm Bitwise and Cathie Wood-backed ARK 21Shares followed leagues behind the two frontrunners; both recorded inflows of over $500 million. …

GBTC’s Bitcoin (BTC) Sales Top 100K Since ETF Launch

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Grayscale’s Bitcoin Trust (GBTC) moved more than 19,000 bitcoin (BTC) from its publicly known wallet Wednesday morning. Since the spot bitcoin ETFs opened for business on Jan. 11, Grayscale has now moved nearly 113,000 bitcoin from its wallet, the overwhelming majority of which was to Coinbase Prime in preparation for sale, according to data compiled from Arkham. Original

Ethereum ETF approvals won’t be same as Bitcoin

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SEC Commissioner Hester Peirce said that the Ethereum ETF approval process won’t be the same as Bitcoin, as the SEC has learned several lessons from the spot Bitcoin ETF saga.  In an interview today with Zack Guzmán, Peirce said that the SEC shouldn’t need to be persuaded by a court to approve crypto-backed ETFs eventually. Peirce mentioned that the regulators will change their approval process for ETH ETF applicants, and they will make regular consumer and market considerations, as it does with all ETF products.  “We shouldn’t need a court…

Coinbase faces headwinds as Bitcoin and ETF interest dips, says JPMorgan

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Coinbase may face challenges due to decreasing Bitcoin values and declining interest in Bitcoin ETFs, as per insights from JPMorgan Chase & Co. Coinbase’s shares plummeted by 6.2% on Tuesday, as the downturn followed JPMorgan’s decision to issue its first negative assessment equivalent to a “sell” rating on the company since it began tracking the stock in May 2021. Despite a significant upsurge of nearly 400% by the end of 2023, Coinbase’s shares have mirrored the trajectory of Bitcoin, which saw a remarkable increase in the same period. In 2024,…

SEC reveals SIM swap attack behind false Bitcoin ETF approval announcement

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A SIM swap attack on the U.S. SEC’s Twitter account led to a false tweet about Bitcoin ETF approval, briefly disrupting the cryptocurrency market. On Jan. 10, the U.S. Securities and Exchange Commission (SEC) experienced a cybersecurity breach, resulting in a misleading tweet about spot Bitcoin ETFs from its official account. This incident, caused by a SIM swap attack, briefly stirred confusion in the cryptocurrency markets. The SEC explained the situation in a statement: “The unauthorized party obtained control of the SEC cell phone number associated with the @SECGov account…

Is Grayscale (GBTC) Takeover Bait Amid Bitcoin ETF Battle?

“A strategic acquisition of a firm such as Grayscale makes a ton of sense for the right traditional ETF issuer assuming the price is palatable,” said Nate Geraci, president of the ETF Store, an advisory firm. “While only two weeks old, the spot bitcoin ETF category is already wildly competitive and has clearly turned into a scale game given how low expense ratios are. A traditional ETF issuer could quickly boost assets under management, gain business operating expertise, and also acquire some ‘crypto street cred’ by targeting the right crypto-fund…

Bitcoin (BTC) Prices Fall Under $39K As ETF Debut Continues To Be ‘Sell-the-News’ Event

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