The value of ethereum (ETH), the second-largest cryptocurrency by market capitalization, has increased nearly 18% against the U.S. dollar due to speculation that the U.S. Securities and Exchange Commission (SEC) might approve some spot ether exchange-traded funds (ETFs). Market Buzz Lifts Ethereum to $3,691 On Monday, ethereum (ETH) reached an intraday peak of $3,691 per […] Source BitcoincryptoexchangeExchanges CryptoX Portal
That doesn’t mean the ETFs will be authorized, though. Would-be issuers also need their S-1 applications approved before the products could begin trading. SEC could take an indefinite amount of time to approve the S-1 documents, one person familiar with the matter said, as it isn’t tied to a deadline. Source
According to recent data, the ten spot bitcoin exchange-traded funds (ETFs), excluding Grayscale’s Bitcoin Trust (GBTC), acquired 548,556.62 BTC from the market over the last 128 days. This acquisition means the ten newly introduced spot bitcoin ETFs collectively hold 2.78% of the crypto asset’s current circulating supply. Besides Grayscale’s Pre-Existing Fund, Blackrock’s IBIT Leads New […] Original
A crypto analyst has predicted that ETFSwap (ETFS) will lead the upcoming 2024 bull run, potentially surpassing Dogecoin (DOGE) and Shiba Inu (SHIB). A crypto analyst has unveiled the next crypto project set to lead the 2024 bull run, outpacing prominent cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB). According to this analyst, ETFSwap (ETFS) has positioned itself as a frontrunner in the upcoming bull market, garnering the attention of institutional investors and crypto enthusiasts alike. Dogecoin (DOGE) Volatility Points To Stagnation According to data from IntoTheBlock, Dogecoin (DOGE) has…
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Since the Hong Kong spot bitcoin exchange-traded funds (ETFs) began trading, their performance has been underwhelming, with three ETFs accumulating around $228 million in net assets. Inconsistent Inflows and Outflows Mark Hong Kong Bitcoin ETFs’ First Weeks On Thursday, the spot bitcoin ETFs in Hong Kong experienced net negative outflows of approximately 104.79 BTC, valued […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Spot Bitcoin ETFs offset April losses in the first two weeks of May. Eric Balchunas, Senior ETF Analyst for Bloomberg, noted that Bitcoin ETFs have already seen $1.3 billion in inflows in May, offsetting all of the negative inflows in April for a total inflow of $12.3 billion since launch. The bitcoin ETFs have put together a solid two weeks with $1.3b in inflows, which offsets the entirety of the negative flows in April- putting them back around high water mark of +$12.3b net since launch. This key number IMO…
On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) marked their fourth day of inflows, accumulating $257.3 million. Grayscale’s Bitcoin Trust (GBTC) also experienced its fourth day of inflows, gaining $4.6 million during the trading sessions. Spread Between IBIT and GBTC Bitcoin Reserves Grows Thinner U.S. spot bitcoin ETFs continued their streak this week with four […] Original
“Bitcoin was pulling back towards $65K on Thursday but is already trying to regain its footing above $66K on Friday morning. If cryptocurrencies get support from the global risk appetite on Friday, Bitcoin could exceed $70K over the weekend,” shared Alex Kuptsikevich, FxPro senior market analyst, in a note to CoinDesk, referring to increased inflows from spot ETFs. Original
As of March 31, 937 institutions had invested over $11 billion in U.S. spot Bitcoin ETFs. Senior Analyst at K33 Research Vetle Lunde says that $11.05 billion equals 18.7% of the total funds managed by BTC-based products. For comparison, only 95 firms invested in gold ETFs over the same period. According to 13F reporting, 937 professional firms were invested in U.S. spot ETFs as of March 31. In comparison, gold ETFs had 95 professional firms invested in their first quarter (Bitwise). Retail owns a majority of the float. Professional investors…