Tag: ETF

Bitcoin grew by 155% in 2023 due to ETF optimism

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CoinGecko shares industry highlights from its Annual Crypto Industry Report, including Bitcoin’s major growth attributed to the ETF approved in early 2024.  Included in the report’s highlights, CoinGecko reveals that the total crypto market increased 108% in 2023, with an increase of $869 billion. However, at the same time, the daily trading volume saw a 31.6% decrease from 2022, settling at $58.9 billion. CoinGecko 2023 Annual Crypto Industry Report is now LIVE 📊 The crypto market witnessed substantial growth in 2023, doubling its total market cap by $832B, driven by…

US Government Accountability Office offers SEC recommendations post-Bitcoin ETF approval

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A US watchdog notes that the SEC’s specialized unit for emerging technologies is not fully prepared to meet current challenges. On Dec. 15, the United States Government Accountability Office (GAO) proposed three primary action plans to the Securities and Exchange Commission to take in the wake of approving 11 spot Bitcoin exchange-traded funds (ETFs) on Jan. 10. The advised strategies were centered around managing the workforce for the digital asset market and guiding the regulator’s approach to the burgeoning industry in the upcoming years. The report found that despite having…

ARK Reshuffles Nearly $15.9M From ProShares Futures ETF to Its Own Spot ETF

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Fidelity’s Jurrien Timmer Says Bitcoin (BTC) to Consolidate Recent Gains Amid Post ETF Price Pullback

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“The short-term question is whether this a sell-the-news moment. My guess is that it will take a little time to consolidate the recent gains, now that the big moment has arrived,” Timmer posted on X. “There were more than a few participants who ‘equitized’ future spot positions through either the futures market or bitcoin-sensitive equities.” Original

Bybit: Bitcoin ETF Approval Marks Watershed Moment for Investors

Since the launch of the BTC ETFs last week, the industry has recorded a significant inflow of BTC products compared to other ETFs in the market. Cryptocurrency exchange Bybit said on Tuesday that the recent approval of the first spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States represents a “watershed moment” for retail investors. On January 10, 2024, the Securities and Exchange Commission (SEC) granted approval to 11 prominent financial companies, including Grayscale Investments, Ark Invest, and BlackRock, enabling them to introduce spot-BTC ETFs to their customers. This…

Grayscale Bitcoin ETF sees $579m in daily net outflows

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According to reports from Bloomberg Intelligence, Grayscale’s Bitcoin ETF has experienced significant withdrawals, amounting to approximately $579 million.  The magnitude of this withdrawal is notable in the context of the broader market for Bitcoin ETFs. Contrastingly, other spot Bitcoin ETFs have attracted nearly $819 million in investments. This stark divergence in investor behavior underscores a critical assessment of the Grayscale Bitcoin ETF’s performance post-SEC approval. Initial enthusiasm, marked by a trading volume of over $2.3 billion on the ETF’s inaugural day, has cooled, with these outflows suggesting a shift in…

Analyst suggests Shiba Inu primed for a rally following spot Bitcoin ETF news

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Despite a recent flat market, SHIB sees the beginning of what Luckside Crypto predicts will be a good week of rallying for the memecoin. According to the Jan. 16 video, the market is starting to see a little bit of excitement following the news of spot Bitcoin ETF approval and the positive sentiment that was reported on Jan. 13, and now, any news around the Coinbase case, which is expected on Jan. 17, the day of the exchange’s federal court date in Manhattan. The SEC is accusing the exchange of violating national…

Institutional Inflows Into XRP Surges 244% Amid ETF Speculation

XRP has reacted positively since the launch of spot Bitcoin ETFs in the US, both in its price and general market sentiment. At the same time, recent data from CoinShares on the weekly inflow into digital asset funds reveal that the positive sentiment flowed into XRP-based investment products, with institutional investors increasing interest amid speculations of whether a spot XRP ETF might soon hit the market. As a result, weekly net inflows into XRP jumped 244% last week, registering a total of $2.2 million.   Institutional Investors Look To XRP Amid…