Tag: ETF

Bitcoin ETF purchases exceed daily production by 12.5 times

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Wall Street is acquiring Bitcoin at a rate 12.5 times greater than its daily production, moving towards a new all-time high, according to Anthony Pompliano. Anthony Pompliano recently emphasized on CNBC’s Squawk Box the significant interest Wall Street has in Bitcoin (BTC), stating, “Wall Street LOVES bitcoin. They are buying up 12.5x more bitcoin per day than the network can produce.” Pompliano’s comments highlight the strong institutional demand for Bitcoin, particularly as the cryptocurrency approaches its halving in mid-April, when the rate at which new Bitcoins are created will be…

Bitcoin Tops $49K as Spot ETF Inflows Accelerate

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Report: Crypto Ads Sideline in Super Bowl LVIII Despite Recent Bitcoin ETF Launches

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Following a wave of cryptocurrency ads securing airtime for promotions during the 2022 Super Bowl, the subsequent year witnessed an absence of crypto entities airing commercials in the event. The trend is set to continue into 2024, as highlighted by a recent analysis on the subject. Although several firms launched commercials for exchange-traded funds (ETFs), […] Original

Valkyrie exec predicts fewer Bitcoin ETF issuers by year-end

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Spot Bitcoin exchange-traded funds (ETFs) are nearing their first month of operation, with the landscape potentially set for consolidation by the end of 2024, according to Valkyrie Funds’ Chief Investment Officer, Steven McClurg. In an exclusive interview with Decrypt on Feb. 10, McClurg said he anticipates a reduction in the number of issuers from 10 to “about seven or eight.” He attributes this forecast to the financial burdens associated with running a spot Bitcoin ETF, compounded by a competitive fee-lowering trend that threatens the profitability of struggling issuers. McClurg emphasized…

Bitcoin (BTC) Price Hovers Over $46K as Year of ‘Long’ Begins, Easing ETF Selloff

“Bitcoin rose above its 50-day moving average late Wednesday, confirming the bullish medium-term trend and easing fears of a deeper correction,” said Alex Kuptsikevich, FxPro senior market analyst, in an email to CoinDesk. “On a weekly basis, bitcoin and the broader crypto market have gained strength after a long period of consolidation and are now poised to make new highs.” Source

Spot Bitcoin ETF inflows top $1.55b; investors supporting Solana and NuggetRush

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Spot Bitcoin ETFs have attracted over $1.55 billion since Jan. 11. Solana (SOL) and NuggetRush (NUGX) are also receiving strong investor support, with $13 million added to Solana products and over 170 million NUGX sold during the presale. Spot Bitcoin ETF inflows top $1.55 billion  A recent analysis by Crypto.com Research highlighted two advantages of spot Bitcoin ETFs – cost-effectiveness and asset diversification. As a result, there has been…

ARK 21Shares revamps Ethereum ETF proposal with cash creation model and staking plan

ARK 21Shares has recently adjusted its application for a spot Ethereum exchange-traded fund (ETF), shifting towards a cash-creation model akin to its previously approved spot Bitcoin ETF. The strategic amendment filed on Feb. 7 also includes plans to stake a portion of the ETF’s Ether (ETH) holdings potentially, aiming to generate additional income through staking rewards. This move follows the firm’s successful transition of its Bitcoin ETFs to a cash creation and redemption model in December after engaging in discussions with the United States securities regulator. The transition from an…

Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut

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Bitcoin (BTC) shook off recent bearish whispers and roared back to life on Wednesday, clawing its way past $44,000 and marking a four-week high as the top crypto asset approaches the vaunted $45K level. This bullish charge was fueled by a potent cocktail of factors, from resurgent accumulation by major investors to record highs in US equity markets and a surprise regulatory shift from Thailand. Bitcoin Surges Amid Whale Activity The day began with Bitcoin hovering around $42,700, but it quickly gained momentum, reaching a peak of $44,300 – its…