The spot bitcoin ETFs from issuers ChinaAMC, Harvest Global, as well as Bosera and Hashkey, saw a combined $32.7 million outflows on Monday, according to data from Farside Investors. This number is significantly higher than previous outflows, which hovered around the $6 million mark. Original
ETFSwap (ETFS) outshines Shiba Inu (SHIB) and Litecoin (LTC) as liquidity flows into its ecosystem. With stealth and precision, ETFSwap (ETFS), the new kid in the block, is observed to completely poach long-term whales and investors of top crypto projects, Shiba Inu (SHIB) and Litecoin (LTC). Not just whales from Shiba Inu (SHIB) and Litecoin (LTC) alone, but the broader cryptocurrency industry, as big whales and smart money identify the increased investment potential and returns of ETFSwap (ETFS) backed by its platform’s innovative utilities. ETFSwap (ETFS) recently raised a whopping…
Adding some fuel to the fire was a piece in the SCMP that said these ETFs would be available to mainland traders who have Hong Kong residency and brokerage accounts. That’s certainly true, but there’s a massive caveat: it’s like saying that mainlanders with U.S. residency can open an American brokerage account and trade New York-listed stocks (which they can’t). This doesn’t mean that they are available in mainland China, as the trading, by mainlanders with Hong Kong residency, is done in Hong Kong. Source
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. If we were to judge the immediate effects of the SEC approving 11 spot Bitcoin ETFs in January as a bellwether for its long-term price response, HODLers probably would have been let down by the price only rising six percent in a little over a month. While the approvals brought a new wave of positive attention and robust institutional activity in the crypto market, the instant price…
Wells Fargo, a major US banking entity, is now storing a spot bitcoin ETF for its customers, as revealed in a new SEC filing, holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was recently converted into an ETF. Though the value of these shares stands at $121,207, a small fraction of the bank’s […] Original
The U.S. spot bitcoin exchange-traded funds (ETFs) witnessed an outflow of $11.3 million during Thursday’s trading sessions, following an inflow of $11.5 million on Wednesday. Although the majority of funds experienced inflows on Thursday, significant outflows from Grayscale’s Bitcoin Trust (GBTC) eclipsed these gains. Grayscale’s Losses Contrast With Gains On Thursday, GBTC experienced outflows that […] Original
Grayscale Investments, the issuer of one of the recently approved spot Bitcoin exchange-traded funds (ETFs) in the US, saw flat revenues in the first quarter of the year due to its decision to maintain fees on its flagship Grayscale Bitcoin Trust ETF (GBTC). Grayscale Exceeds Expectations Despite Outflows According to a shareholder letter from its parent company, Digital Currency Group (DCG), the operator of the Grayscale Bitcoin Trust recorded $156 million in revenue, showing little change from the previous quarter. Related Reading Since the GBTC trust’s conversion to an ETF…
The outflow of investments in digital assets for the fourth week in a row amounted to $251 million. According to CoinShares data, the week from April 27 to May 3 marked the first time there were any measurable outflows from newly issued U.S. ETFs. The average purchase price of the underlying ETF asset since launch is $62,200 per Bitcoin (BTC), with the recent price fluctuations potentially triggering sell orders. Capital outflows totaled $504 million in the United States. Withdrawals were also noted in Canada, Switzerland, and Germany, totaling $9.6 million, $9.8…
“Crypto ETFs provide a means for investors at all levels to enter into the world of digital assets through a regulated and government-endorsed investment vehicle,” said Wintermute CEO Evgeny Gaevoy. “[They] play a key role in bringing the next wave of investors into the crypto space, both institutional and retail … Increasing access to digital assets will play a critical function in further accelerating growth, and Wintermute is excited to play a key role in that process.” Original
According to statistics, U.S. spot bitcoin exchange-traded funds (ETFs) saw their second consecutive day of positive inflows after recording approximately $378.3 million on Friday. During Monday’s trading sessions, the U.S.-based bitcoin ETFs accumulated $217 million in positive inflows, with Grayscale’s Bitcoin Trust (GBTC) also marking its second consecutive day of inflows. US Spot Bitcoin ETFs […] Original