“It’s a pretty bad scene right now in the gold ETFs category,” said Bloomberg Intelligence senior ETF analyst Eric Balchunas in a post on X. “To be sure, I don’t think these people are migrating to bitcoin ETFs,” he wrote, although he said it could partly be a reason for the ugly numbers. Original
Bitcoin ETFs continued to experience hundreds of millions in demand a day after setting a historical high for daily net inflows. According to SoSoValue, spot Bitcoin ETFs marked a 14th consecutive day of net inflows with roughly $339 million on Feb. 14, only $300 million less than the day before. BlackRock claimed the largest inflow of the lot, garnering $224 million, while Fidelity recorded $118 million in net inflows. BlackRock and Fidelity are by far the largest new Bitcoin (BTC) ETF issuers, with $4.8 billion and $3.5 billion, in cumulative…
The approval of the spot bitcoin ETFs constituted a landmark event for the $1.7 trillion digital asset industry. With institutional investors on board, demand for bitcoin will grow significantly. Source
Spot Bitcoin ETFs set a record high for daily net inflows, with over $631 million flowing into funds on Feb. 13, coinciding with dwindling outflows from Grayscale’s converted GBTC. Excluding GBTC, nine spot Bitcoin (BTC) ETF issuers saw $704 million in inflows as demand for exchange-traded funds underpinned by crypto’s largest assets trended upwards and consistently amounted to hundreds of millions of dollars daily. BlackRock accounted for the lion’s share of inflows, recording 70% of the day’s influx of trading worth $493 million, according to sososvalue.xyz. Spot BTC ETF flows…
In just a month, the bitcoin funds ex-GBTC have accumulated over $11 billion worth of bitcoin, with three of the ETFs – BlackRock’s IBIT, Fidelity’s FBTC and Ark 21’s ARKB – topping the $1 billion mark in assets under management. In fact, as of the end of Monday, IBIT was nearing $5 billion in AUM and FBTC was just shy of $4 billion. Original
In a recent turn of events, spot bitcoin exchange-traded funds (ETFs) emerged as the market leaders in the realm of cryptocurrency investment products last week. According to a recent report by Coinshares, these funds attracted $1.1 billion in inflows, marking the highest assets under management (AUM) since the early days of 2022. Coinshares Report Shows […] Original
MicroStrategy’s model offers greater flexibility than an investment trust, Saylor argued, enabling the company to develop software, generate cash flow, leveraging the capital market, and accumulate bitcoin for its shareholders and foster the Bitcoin network. Original
Bitcoin surged to $50,000, marking its highest point in over two years. Since the beginning of last year, Bitcoin’s value has seen a threefold increase, rebounding from a significant 64% drop in 2022. The last instance Bitcoin reached the $50,000 milestone was in December 2021, though it still has not surpassed its peak of nearly $69,000 from November 2021. This surge comes from a positive Bitcoin ETF market, as the new funds have attracted over $8 billion in inflows within just a month of trading. Despite Grayscale’s Bitcoin Trust experiencing…
The primary driver behind this price appreciation can be attributed to the increased inflow into BTC Spot ETFs. As anticipated in previous weeks, the outflow from the Grayscale Bitcoin ETF (GBTC) was expected to diminish after the initial couple of weeks of trading. This expectation materialized, with GBTC outflows showing a significant decrease in the final days of January and continuing to decline through February. The daily outflow from GBTC during the two initial weeks post-approval averaged around $500 million. However, in the past week, total outflows from GBTC amounted…
The price of Bitcoin (BTC) could reach $112,000 as early as 2024, according to CryptoQuant. CryptoQuant CEO Ki Young Ju believes the current trend of inflows related to spot exchange-traded funds (ETFs) will continue. He said the “worst case scenario” for Bitcoin would be at least $55,000, or almost 15% higher than prices on Monday, Feb. 12. The targets were set based on the impact of inflows on Bitcoin’s market capitalization and a metric ratio that historically indicated whether prices were “overvalued” or “undervalued.” At the same time, the BTC…