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Hong Kong has approved the first Bitcoin and Ethereum Spot ETFs, what do investors need to know? Explain how prices might react, key influencing factors, and investment strategies.
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BTC, ETH Rise As Hong Kong Bitcoin ETF Applicants Say They've Been Approved
Bitcoin {{BTC}} has risen 2.8% over 24 hours, trading above $66,500, and ether {{ETH}} has advanced to $3,240, according to CoinDesk Indices data, as multiple issuers in Hong Kong said they'd been approved for spot crypto exchange-traded funds (ETFs).
China Asset Management, Bosera Capital and other applicants posted to social-media platform WeChat (Weixin) that they had been approved to list spot bitcoin and ether ETFs in Hong Kong. However, these announcements seem to have front-run an official statement from the Securities and Futures Commission (SFC), which has not posted a list of approved issuers. Some of the posts have since been deleted.
The SFC did not return emails or phone calls asking for comment.
Singapore-based digital assets trading house QCP Capital said in a message shared with CoinDesk that it believes the ETFs, when approved, will unlock some institutional demand during Asia trading hours.
"Participants who wanted exposure have always been limited to US hours, but this now gives institutional investors an Asia-based alternative," QCP wrote. "We believe this will be bullish short term, but there are more important narratives and drivers such as macro events."
China Asset Management, Bosera Capital and other applicants posted to social-media platform WeChat (Weixin) that they had been approved to list spot bitcoin and ether ETFs in Hong Kong. However, these announcements seem to have front-run an official statement from the Securities and Futures Commission (SFC), which has not posted a list of approved issuers. Some of the posts have since been deleted.
The SFC did not return emails or phone calls asking for comment.
Singapore-based digital assets trading house QCP Capital said in a message shared with CoinDesk that it believes the ETFs, when approved, will unlock some institutional demand during Asia trading hours.
"Participants who wanted exposure have always been limited to US hours, but this now gives institutional investors an Asia-based alternative," QCP wrote. "We believe this will be bullish short term, but there are more important narratives and drivers such as macro events."
Ethereum Spot ETF Sees $2.87 Million Inflow In The US
According to BlockBeats, data from Trader T revealed that on September 21, the Ethereum spot ETF in the United States experienced a net inflow of $2.87 million. This inflow was solely attributed to the Grayscale Mini ETH, while other ETFs reported no net inflows or outflows.
BlackRock Preparing For $35 Trillion Fed Crisis With Bitcoin: BTC Price Prediction
This article was paid for*
The top executives at BlackRock are beginning to sound like Michael Saylor.
In a recent paper outlining BTC’s investment case, BlackRock’s ETF Chief Investment Officer and head of crypto Robert Mitchnik called Bitcoin a unique diversifier.
The $10 trillion asset management firm sees a growing institutional demand for Bitcoin, primarily driven by growing fears of a potential collapse of the US Dollar. Indeed, BlackRock’s IBIT spot Bitcoin ETF now has an asset under management of over $20 billion, signalling strong institutional confidence.
BlackRock’s bullish thesis gives credence to the experts who claim that the BTC price will hit triple-digits in the coming months.
Bitcoin – A Geopolitical Hedge?
BlackRock isn’t the first to highlight the concerning trajectory of the US national debt and fiscal deficit. In fact, the Federal Reserve Chair Jerome Powell has previously claimed that the US is on an “unsustainable global path”.
Popular macro analyst James Lavish (@jameslavish) recently highlighted the correlation between the US GDP and debt, indicating that the US economy depends on an exponential increase in debt for each incremental unit of productivity, making the system “unstable”.
A system that relies on exponentially increasing levels of debt for each incremental unit of productivity eventually becomes so unstable that it simply collapses under the weight of its own leverage. pic.twitter.com/D5AZwKPWUh
— James Lavish (@jameslavish) September 19, 2024
However, BlackRock’s vociferous support of Bitcoin has surprised many. For instance, BlackRock’s whitepaper on Bitcoin calls it a hedge against economic and political risks.
Additionally, the paper claims that Bitcoin is largely uncorrelated with traditional investment instruments in the long term, claiming that its fundamental drivers are in contrast to those of equities.
While geopolitical risks, fiscal instability and political turmoil are bearish for traditional financial markets, BlackRock claims that these factors have been growing the institutional demand for BTC.
Notably, BlackRock CEO Larry Fink has also shifted his stance on Bitcoin, going from a “proud sceptic” to calling it the digital gold.
Meanwhile, MicroStrategy’s Michael Saylor remains ultra-bullish on Bitcoin, with his firm acquiring another $458 million worth of BTC this week.
How High Can The BTC Price Go? Predictions
The Bitcoin price is on the cusp of a major bull run. BTC already hit $64k after the Federal Reserve’s aggressive 50 bps rate cut on Wednesday.
Experts highlight that $65k remains the large major resistance for the bulls, flipping which would pave the way for new all-time highs.
In fact, a new all-time high may not take long. Data from CryptoQuant highlights Negative Coinbase Premium, which indicates a strong buying pressure on the exchange.
Macro analyst Henrik Zeberg remains confident that the BTC price will peak at $120k this cycle, which isn’t surprising considering BlackRock’s bullish thesis.
Experts Also Bullish On Meme Coins
Meme coins – excluding Dogecoin and Shiba Inu – have been showing a strong correlation with Bitcoin.
Unsurprisingly, tokens such as Brett, Pepe, Popcat and Dogwifhat are in high demand and could surprise investors with their strength, especially if Bitcoin hits triple-digits.
New low-cap meme coins are also creating a strong buzz. Indeed, the Fed’s aggressive easing is expected to create a strong uptick in market liquidity, providing the ideal backdrop for low-cap gems to deliver 100x returns.
For instance, crypto analysts believe that Pepe Unchained (PEPU) – a low-cap frog meme coin – could be the next 100x crypto.
Indeed, PEPU has defied the recent negative trend in large-cap meme coins, raising nearly $14 million in presale funding behind heavy whale buys.
Pepe Unchained’s unique features have created quite a buzz, including its Layer-2 scaling solution designed specifically for meme coin trading. PEPU holders can take advantage of low trading costs, quick transactions and high staking rewards,
The meme coin is also launching the Pepe Foundation, which will offer developer grants for new meme coins to be created on the chain.
With such heavy interest surrounding the project, it wouldn’t be a surprise if PEPU delivers 100x growth in the coming bull run.
Visit Pepe Unchained Presale
*Cryptonomist did not write the article or test the platform.
The top executives at BlackRock are beginning to sound like Michael Saylor.
In a recent paper outlining BTC’s investment case, BlackRock’s ETF Chief Investment Officer and head of crypto Robert Mitchnik called Bitcoin a unique diversifier.
The $10 trillion asset management firm sees a growing institutional demand for Bitcoin, primarily driven by growing fears of a potential collapse of the US Dollar. Indeed, BlackRock’s IBIT spot Bitcoin ETF now has an asset under management of over $20 billion, signalling strong institutional confidence.
BlackRock’s bullish thesis gives credence to the experts who claim that the BTC price will hit triple-digits in the coming months.
Bitcoin – A Geopolitical Hedge?
BlackRock isn’t the first to highlight the concerning trajectory of the US national debt and fiscal deficit. In fact, the Federal Reserve Chair Jerome Powell has previously claimed that the US is on an “unsustainable global path”.
Popular macro analyst James Lavish (@jameslavish) recently highlighted the correlation between the US GDP and debt, indicating that the US economy depends on an exponential increase in debt for each incremental unit of productivity, making the system “unstable”.
A system that relies on exponentially increasing levels of debt for each incremental unit of productivity eventually becomes so unstable that it simply collapses under the weight of its own leverage. pic.twitter.com/D5AZwKPWUh
— James Lavish (@jameslavish) September 19, 2024
However, BlackRock’s vociferous support of Bitcoin has surprised many. For instance, BlackRock’s whitepaper on Bitcoin calls it a hedge against economic and political risks.
Additionally, the paper claims that Bitcoin is largely uncorrelated with traditional investment instruments in the long term, claiming that its fundamental drivers are in contrast to those of equities.
While geopolitical risks, fiscal instability and political turmoil are bearish for traditional financial markets, BlackRock claims that these factors have been growing the institutional demand for BTC.
Notably, BlackRock CEO Larry Fink has also shifted his stance on Bitcoin, going from a “proud sceptic” to calling it the digital gold.
Meanwhile, MicroStrategy’s Michael Saylor remains ultra-bullish on Bitcoin, with his firm acquiring another $458 million worth of BTC this week.
How High Can The BTC Price Go? Predictions
The Bitcoin price is on the cusp of a major bull run. BTC already hit $64k after the Federal Reserve’s aggressive 50 bps rate cut on Wednesday.
Experts highlight that $65k remains the large major resistance for the bulls, flipping which would pave the way for new all-time highs.
In fact, a new all-time high may not take long. Data from CryptoQuant highlights Negative Coinbase Premium, which indicates a strong buying pressure on the exchange.
Macro analyst Henrik Zeberg remains confident that the BTC price will peak at $120k this cycle, which isn’t surprising considering BlackRock’s bullish thesis.
Experts Also Bullish On Meme Coins
Meme coins – excluding Dogecoin and Shiba Inu – have been showing a strong correlation with Bitcoin.
Unsurprisingly, tokens such as Brett, Pepe, Popcat and Dogwifhat are in high demand and could surprise investors with their strength, especially if Bitcoin hits triple-digits.
New low-cap meme coins are also creating a strong buzz. Indeed, the Fed’s aggressive easing is expected to create a strong uptick in market liquidity, providing the ideal backdrop for low-cap gems to deliver 100x returns.
For instance, crypto analysts believe that Pepe Unchained (PEPU) – a low-cap frog meme coin – could be the next 100x crypto.
Indeed, PEPU has defied the recent negative trend in large-cap meme coins, raising nearly $14 million in presale funding behind heavy whale buys.
Pepe Unchained’s unique features have created quite a buzz, including its Layer-2 scaling solution designed specifically for meme coin trading. PEPU holders can take advantage of low trading costs, quick transactions and high staking rewards,
The meme coin is also launching the Pepe Foundation, which will offer developer grants for new meme coins to be created on the chain.
With such heavy interest surrounding the project, it wouldn’t be a surprise if PEPU delivers 100x growth in the coming bull run.
Visit Pepe Unchained Presale
*Cryptonomist did not write the article or test the platform.
Cryptocurrency Market Sees Third Consecutive Day of Gains
According to BlockBeats, on September 21, QCP Capital released its daily report indicating that cryptocurrencies experienced their third consecutive day of gains. Bitcoin (BTC) tested the $64,000 mark again, while Ethereum (ETH) returned to $2,500.
This upward movement was supported by strong inflows into BTC and ETH spot ETFs. Over the past two days, BTC ETFs recorded net inflows of $250.3 million, while ETH ETFs saw net inflows of $8.1 million.
With no significant macroeconomic events expected before Friday, except for the upcoming PCE price report, the enthusiasm for rate cuts is gradually waning. As of this morning, BTC has fallen below $63,000.
In the options market, front-end BTC volatility has decreased by 6 points from yesterday's peak. As the market adjusts to the path of policy normalization, volatility continues to decline.
This upward movement was supported by strong inflows into BTC and ETH spot ETFs. Over the past two days, BTC ETFs recorded net inflows of $250.3 million, while ETH ETFs saw net inflows of $8.1 million.
With no significant macroeconomic events expected before Friday, except for the upcoming PCE price report, the enthusiasm for rate cuts is gradually waning. As of this morning, BTC has fallen below $63,000.
In the options market, front-end BTC volatility has decreased by 6 points from yesterday's peak. As the market adjusts to the path of policy normalization, volatility continues to decline.
Chainlink Price Targets 177% Rally As Bullish Pattern Emerges, ETF Speculation Rises
Chainlink Price Targets 177% Rally As Bullish Pattern Emerges, ETF Speculation Rises.
NOIDA (CoinChapter.com)— Chainlink (LINK) price has gained momentum following the recent TOKEN2049 event. Moreover, speculations of a Chainlink ETF are gaining traction, especially following the launch of the Grayscale XRP trust.
Rising institutional interest in tokenized real-world assets (RWA) also helped LINK’s price action. Since 2022, Chainlink’s technology has powered $15.49 trillion in DeFi transaction value.
Analysts Bullish on Chainlink ETF Possibilities
Market analysts have remained optimistic about a potential Chainlink ETF, especially following Grayscale’s launch of an XRP Trust. The creation of this trust for XRP has reignited hope that Chainlink could follow a similar path.
As XRP’s trust signifies regulatory confidence in certain assets, investors speculate that LINK may be next in line for an ETF launch.
Traders remained bullish about the prospect of a LINK ETF happening.
Social media posts from crypto analysts reflect this bullish sentiment. Crypto investors like Kyle Chassé and Frogman speculated that a LINK ETF could surprise many in the market, highlighting its potential to catch investors off-guard.
21Shares, one of the major players in the crypto ETF sector, offers a LINK ETP with over $10.72 billion in AUM. The product’s YTD performance is sad, though: It is down over 28%.
21Shares Chainlink ETP.
Moreover, 21Shares holds substantial LINK tokens and has integrated Chainlink’s Proof of Reserve technology into its existing ETF offerings. This has further fueled speculation that LINK could be positioned for an ETF debut.
The rising enthusiasm follows positive market performance. LINK surged by 7% recently, adding to the growing belief that institutional interest and Chainlink’s broader ecosystem developments could soon manifest in a regulated financial product, like an ETF.
TOKEN2049 and Sergey Nazarov’s Comments
At TOKEN2049 Singapore, Chainlink co-founder Sergey Nazarov painted an even more expansive vision for the future of the blockchain ecosystem, particularly about integrating real-world assets into Web3. Nazarov predicts that the value of tokenized RWAs will soon surpass that of cryptocurrencies.
He emphasized that TradFi will become the largest customer of DeFi, as institutions increasingly look to blockchain to tokenize assets ranging from real estate to more advanced financial products like carbon credits and private equity.
Chainlink founder highlighted decentralized infrastructure reshaping TradFi at TOKEN2049.
One key technology enabling the shift is Chainlink’s CCIP, which Nazarov described as a bridge between central bank digital currencies (CBDCs), public blockchains, and private financial networks.
CCIP enables seamless value transfers across chains, improving interoperability between legacy systems and blockchain. As legal barriers ease, especially in Asia and the Middle East, trillions may enter Web3.
The potential influx of institutional capital and tokenization places Chainlink at the DeFi-TradFi convergence.
LINK Prices Form Bullish Pattern
Meanwhile, the LINK USD pair has formed a bullish technical setup called the ‘falling wedge.‘
Two converging downward trendlines that connect lower highs and lower lows form the falling wedge, a bullish reversal. The narrowing structure shows that, despite the ongoing downtrend, the bearish momentum is gradually weakening, often preceding an upward breakout.
LINKUSD pair formed a bullish setup with a 177% upside target. Source: Tradingview
The key feature of a falling wedge is that the slope of the lower trendline is steeper than that of the upper trendline, indicating that selling pressure is dissipating. When the breakout occurs—typically upward—it signals buyers taking control.
To estimate the potential price target after a breakout, traders measure the vertical distance between the widest points of the wedge and project that range from the breakout point upwards. Increased trading volume during the breakout confirms the strength of the reversal, reinforcing market confidence and the likelihood of success.
According to technical analysis rules, the LINK USD conversion rate might rally over 177% from its current level to reach the pattern’s projected target of around $31.
The post Chainlink Price Targets 177% Rally As Bullish Pattern Emerges, ETF Speculation Rises appeared first on CoinChapter.
NOIDA (CoinChapter.com)— Chainlink (LINK) price has gained momentum following the recent TOKEN2049 event. Moreover, speculations of a Chainlink ETF are gaining traction, especially following the launch of the Grayscale XRP trust.
Rising institutional interest in tokenized real-world assets (RWA) also helped LINK’s price action. Since 2022, Chainlink’s technology has powered $15.49 trillion in DeFi transaction value.
Analysts Bullish on Chainlink ETF Possibilities
Market analysts have remained optimistic about a potential Chainlink ETF, especially following Grayscale’s launch of an XRP Trust. The creation of this trust for XRP has reignited hope that Chainlink could follow a similar path.
As XRP’s trust signifies regulatory confidence in certain assets, investors speculate that LINK may be next in line for an ETF launch.
Traders remained bullish about the prospect of a LINK ETF happening.
Social media posts from crypto analysts reflect this bullish sentiment. Crypto investors like Kyle Chassé and Frogman speculated that a LINK ETF could surprise many in the market, highlighting its potential to catch investors off-guard.
21Shares, one of the major players in the crypto ETF sector, offers a LINK ETP with over $10.72 billion in AUM. The product’s YTD performance is sad, though: It is down over 28%.
21Shares Chainlink ETP.
Moreover, 21Shares holds substantial LINK tokens and has integrated Chainlink’s Proof of Reserve technology into its existing ETF offerings. This has further fueled speculation that LINK could be positioned for an ETF debut.
The rising enthusiasm follows positive market performance. LINK surged by 7% recently, adding to the growing belief that institutional interest and Chainlink’s broader ecosystem developments could soon manifest in a regulated financial product, like an ETF.
TOKEN2049 and Sergey Nazarov’s Comments
At TOKEN2049 Singapore, Chainlink co-founder Sergey Nazarov painted an even more expansive vision for the future of the blockchain ecosystem, particularly about integrating real-world assets into Web3. Nazarov predicts that the value of tokenized RWAs will soon surpass that of cryptocurrencies.
He emphasized that TradFi will become the largest customer of DeFi, as institutions increasingly look to blockchain to tokenize assets ranging from real estate to more advanced financial products like carbon credits and private equity.
Chainlink founder highlighted decentralized infrastructure reshaping TradFi at TOKEN2049.
One key technology enabling the shift is Chainlink’s CCIP, which Nazarov described as a bridge between central bank digital currencies (CBDCs), public blockchains, and private financial networks.
CCIP enables seamless value transfers across chains, improving interoperability between legacy systems and blockchain. As legal barriers ease, especially in Asia and the Middle East, trillions may enter Web3.
The potential influx of institutional capital and tokenization places Chainlink at the DeFi-TradFi convergence.
LINK Prices Form Bullish Pattern
Meanwhile, the LINK USD pair has formed a bullish technical setup called the ‘falling wedge.‘
Two converging downward trendlines that connect lower highs and lower lows form the falling wedge, a bullish reversal. The narrowing structure shows that, despite the ongoing downtrend, the bearish momentum is gradually weakening, often preceding an upward breakout.
LINKUSD pair formed a bullish setup with a 177% upside target. Source: Tradingview
The key feature of a falling wedge is that the slope of the lower trendline is steeper than that of the upper trendline, indicating that selling pressure is dissipating. When the breakout occurs—typically upward—it signals buyers taking control.
To estimate the potential price target after a breakout, traders measure the vertical distance between the widest points of the wedge and project that range from the breakout point upwards. Increased trading volume during the breakout confirms the strength of the reversal, reinforcing market confidence and the likelihood of success.
According to technical analysis rules, the LINK USD conversion rate might rally over 177% from its current level to reach the pattern’s projected target of around $31.
The post Chainlink Price Targets 177% Rally As Bullish Pattern Emerges, ETF Speculation Rises appeared first on CoinChapter.
Can Ethereum (ETH) Leverage Bullish Signals to Spark a Rally?
The US Spot Ethereum ETF saw a $5.24 million inflow, primarily from Blackrock.
Ethereum’s price of $2,542.80 indicates strong market sentiment.
Ethereum itself is witnessing a bullish trend, with large wallet transfers and increased trading volumes. As of September 19, the US Spot Ethereum ETF has shown significant movement, with a daily net inflow of $5.24 million, primarily from Blackrock’s ETHA, which recorded the entire inflow. The ETF now boasts total net assets of $6.70 billion, and cumulative net inflows have reached $610.35 million. However, most competing funds saw no inflows during this period.
The bullish trend in the cryptocurrency market has prompted substantial transfers of Ethereum and Bitcoin. In just the past 20 hours, nearly 230,000 ETH were moved between various wallets. Notably, Galaxy Digital withdrew 3,500 ETH from Binance, bringing its total holdings to 65,368 ETH. Additionally, the Ethereum Foundation has also been active, selling 950 ETH valued at approximately $2.27 million since the beginning of September.
Ethereum Price Analysis:
Currently, ETH is trading at $2,542.80, reflecting a 4.53% increase in price. Market sentiment remains positive, with a total trading volume of $19 billion, although this represents a 5.75% decrease. The overall market capitalization of ETH stands at $306 billion, up 4.49%.
Ethereum price chart (Source: TradingView)
From a technical perspective, the first support level is identified at $2,436, while stronger support lies at $2,253. The first resistance is currently set at $2,561, with a secondary level at $2,520. The Relative Strength Index (RSI) is at 72.62, indicating that Ethereum is in the overbought territory, suggesting a potential sell signal. The moving average data supports bullish momentum, with the 9-day MA at $2,474 surpassing the 21-day MA at $2,390.
In summary, Ethereum is experiencing a dynamic phase marked by significant inflows into ETFs and heightened trading activity, indicating robust market interest amid cautious sentiment about potential overextension.
Highlighted Crypto News Today:Jump Crypto Unveils ‘Frankendancer’ Validator on Solana Mainnet
Ethereum’s price of $2,542.80 indicates strong market sentiment.
Ethereum itself is witnessing a bullish trend, with large wallet transfers and increased trading volumes. As of September 19, the US Spot Ethereum ETF has shown significant movement, with a daily net inflow of $5.24 million, primarily from Blackrock’s ETHA, which recorded the entire inflow. The ETF now boasts total net assets of $6.70 billion, and cumulative net inflows have reached $610.35 million. However, most competing funds saw no inflows during this period.
The bullish trend in the cryptocurrency market has prompted substantial transfers of Ethereum and Bitcoin. In just the past 20 hours, nearly 230,000 ETH were moved between various wallets. Notably, Galaxy Digital withdrew 3,500 ETH from Binance, bringing its total holdings to 65,368 ETH. Additionally, the Ethereum Foundation has also been active, selling 950 ETH valued at approximately $2.27 million since the beginning of September.
Ethereum Price Analysis:
Currently, ETH is trading at $2,542.80, reflecting a 4.53% increase in price. Market sentiment remains positive, with a total trading volume of $19 billion, although this represents a 5.75% decrease. The overall market capitalization of ETH stands at $306 billion, up 4.49%.
Ethereum price chart (Source: TradingView)
From a technical perspective, the first support level is identified at $2,436, while stronger support lies at $2,253. The first resistance is currently set at $2,561, with a secondary level at $2,520. The Relative Strength Index (RSI) is at 72.62, indicating that Ethereum is in the overbought territory, suggesting a potential sell signal. The moving average data supports bullish momentum, with the 9-day MA at $2,474 surpassing the 21-day MA at $2,390.
In summary, Ethereum is experiencing a dynamic phase marked by significant inflows into ETFs and heightened trading activity, indicating robust market interest amid cautious sentiment about potential overextension.
Highlighted Crypto News Today:Jump Crypto Unveils ‘Frankendancer’ Validator on Solana Mainnet
Bitcoin ETF Inflow Soars: Will BTC Price Break $65K Resistance This Weekend?
The post Bitcoin ETF Inflow Soars: Will BTC Price Break $65K Resistance This Weekend? appeared first on Coinpedia Fintech News
As the fear of further crypto capitulation in the near term significantly decreased, Bitcoin’s (BTC) price continued with the recent bullish sentiments. In the past 24 hours, Bitcoin price pumped over 3 percent to reach a range of about $64.082, before sliding towards $63,787 on Friday during the early Asian session.
Consequently, the total crypto market cap gained by 2 percent to hover about $2.3 trillion at the time of this report. The altcoin industry, led by Ethereum (ETH) and Solana (So), signaled a potential bullish recovery in the coming weeks.
Bitcoin Whales Accelerates Accumulation Pace
In the past 30 days, the supply of Bitcoin in centralized exchanges declined by over 97.6k coins, led by Coinbase Pro and Binance Holdings Ltd. Despite the macro Bitcoin price correction in the past six months, the supply of BTC on CEXs has exponentially declined in the same period.
The notable decline in the Bitcoin supply of centralized exchanges can be directly associated with the cash inflows to the US spot BTC ETF.
On Thursday, the US spot Bitcoin ETF registered a net cash inflow of about $158 million, thus raising the total net assets under management to about $57.8 billion. Remarkably, none of the spot BTC ETF issuers reported a net cash outflow on Thursday, with Fidelity’s FBTC and ARK 21Shares Bitcoin ETFs (ARKB) leading in net cash inflows.
What Next?
On the #Bitcoin daily chart, the RSI has broken through a key resistance trendline, signaling a bullish breakout!However, $BTC still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run. pic.twitter.com/d6n6j6jH0l
— Ali (@ali_charts) September 19, 2024
From a technical standpoint, Bitcoin price faces a significant resistance of around $64k, following the recent death-cross between the daily 50 and 200 Moving Averages (MAs). According to a popular crypto analyst Ali Martinez, Bitcoin price needs to consistently close above the 200-day MA to confirm a bullish continuation toward the all-time high soon.
Already, the Bitcoin bulls are well incentivized following the Fed’s rate cut, which signaled the onset of an economic shift. Furthermore, the crypto industry anticipates a further bullish rebound in October and the subsequent months.
As the fear of further crypto capitulation in the near term significantly decreased, Bitcoin’s (BTC) price continued with the recent bullish sentiments. In the past 24 hours, Bitcoin price pumped over 3 percent to reach a range of about $64.082, before sliding towards $63,787 on Friday during the early Asian session.
Consequently, the total crypto market cap gained by 2 percent to hover about $2.3 trillion at the time of this report. The altcoin industry, led by Ethereum (ETH) and Solana (So), signaled a potential bullish recovery in the coming weeks.
Bitcoin Whales Accelerates Accumulation Pace
In the past 30 days, the supply of Bitcoin in centralized exchanges declined by over 97.6k coins, led by Coinbase Pro and Binance Holdings Ltd. Despite the macro Bitcoin price correction in the past six months, the supply of BTC on CEXs has exponentially declined in the same period.
The notable decline in the Bitcoin supply of centralized exchanges can be directly associated with the cash inflows to the US spot BTC ETF.
On Thursday, the US spot Bitcoin ETF registered a net cash inflow of about $158 million, thus raising the total net assets under management to about $57.8 billion. Remarkably, none of the spot BTC ETF issuers reported a net cash outflow on Thursday, with Fidelity’s FBTC and ARK 21Shares Bitcoin ETFs (ARKB) leading in net cash inflows.
What Next?
On the #Bitcoin daily chart, the RSI has broken through a key resistance trendline, signaling a bullish breakout!However, $BTC still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run. pic.twitter.com/d6n6j6jH0l
— Ali (@ali_charts) September 19, 2024
From a technical standpoint, Bitcoin price faces a significant resistance of around $64k, following the recent death-cross between the daily 50 and 200 Moving Averages (MAs). According to a popular crypto analyst Ali Martinez, Bitcoin price needs to consistently close above the 200-day MA to confirm a bullish continuation toward the all-time high soon.
Already, the Bitcoin bulls are well incentivized following the Fed’s rate cut, which signaled the onset of an economic shift. Furthermore, the crypto industry anticipates a further bullish rebound in October and the subsequent months.
📉👀 $ETH is trading at its lowest level against BTC in over 40 months.
While #ETF flows for $BTC have been largely positive, ETH has experienced mostly outflows. This trend suggests institutional investors are favoring Bitcoin’s relative stability over ETH's higher risk, high-reward profile.
While #ETF flows for $BTC have been largely positive, ETH has experienced mostly outflows. This trend suggests institutional investors are favoring Bitcoin’s relative stability over ETH's higher risk, high-reward profile.
US Bitcoin ETFs See $158M Inflows Amid Bitcoin Price Surge
Among yesterday’s inflows, Ark Invest and 21Shares’ ARKB received $81.07 million.
U.S bitcoin funds have had a net inflow of $17.60 billion since their start in January.
Prior to Thursday’s net inflow of $158.21 million, spot bitcoin exchange-traded funds in the US had a net outflow of $52 million. Among yesterday’s inflows, Ark Invest and 21Shares’ ARKB received $81.07 million, the most, according to SoSoValue statistics. Net inflows of $49.88 million were recorded by Fidelity’s FBTC, while Bitwise’s BITB had positive flows of $10.36 million.
Thursday witnessed $9.54 million inflows into Grayscale’s Bitcoin Mini Trust and $7.35 million into EZBC, run by Franklin Templeton. Even though seven funds had no transactions at all for the day, no money left any of the twelve bitcoin ETFs.
U.S bitcoin funds have had a net inflow of $17.60 billion since their start in January. And on Thursday, that amount was $1.44 billion in total daily transaction activity. Net inflows of $5.24 million were recorded by spot ether ETFs yesterday. With all of that money coming from BlackRock’s ETHA fund. Thursday was a dry day for the other eight funds.
Positive Momentum
Total daily trading volume for the ether funds increased to $250.84 million from $221.88 million on Wednesday. A total of $610.35 million has been lost by U.S. Ethereum ETFs since their inception in July, according to statistics from SoSoValue.
At the time of writing, the price of Bitcoin was $63,338 as per data from CMC. Following a recent low of around $52,800 on September 6, the value of the biggest cryptocurrency in the world has been increasing in recent weeks due to good macroeconomic signs.
As of right now, the price of bitcoin is challenging the 200-day simple moving average (SMA) on the daily chart, indicating a robust short-term rising trend.
Highlighted Crypto News Today:
Solana Trades Above 20-day EMA and 50-day SMA, SOL Shows Upward Momentum
U.S bitcoin funds have had a net inflow of $17.60 billion since their start in January.
Prior to Thursday’s net inflow of $158.21 million, spot bitcoin exchange-traded funds in the US had a net outflow of $52 million. Among yesterday’s inflows, Ark Invest and 21Shares’ ARKB received $81.07 million, the most, according to SoSoValue statistics. Net inflows of $49.88 million were recorded by Fidelity’s FBTC, while Bitwise’s BITB had positive flows of $10.36 million.
Thursday witnessed $9.54 million inflows into Grayscale’s Bitcoin Mini Trust and $7.35 million into EZBC, run by Franklin Templeton. Even though seven funds had no transactions at all for the day, no money left any of the twelve bitcoin ETFs.
U.S bitcoin funds have had a net inflow of $17.60 billion since their start in January. And on Thursday, that amount was $1.44 billion in total daily transaction activity. Net inflows of $5.24 million were recorded by spot ether ETFs yesterday. With all of that money coming from BlackRock’s ETHA fund. Thursday was a dry day for the other eight funds.
Positive Momentum
Total daily trading volume for the ether funds increased to $250.84 million from $221.88 million on Wednesday. A total of $610.35 million has been lost by U.S. Ethereum ETFs since their inception in July, according to statistics from SoSoValue.
At the time of writing, the price of Bitcoin was $63,338 as per data from CMC. Following a recent low of around $52,800 on September 6, the value of the biggest cryptocurrency in the world has been increasing in recent weeks due to good macroeconomic signs.
As of right now, the price of bitcoin is challenging the 200-day simple moving average (SMA) on the daily chart, indicating a robust short-term rising trend.
Highlighted Crypto News Today:
Solana Trades Above 20-day EMA and 50-day SMA, SOL Shows Upward Momentum
Bitcoin Spot ETFs Explode With $158 Million Inflows: Details
The price of Bitcoin (BTC) witnessed a remarkable surge recently. It went above the crucial $63,000 mark after weeks of consolidation around the $55,000 to $57,000 range. Amid this bullish momentum on the crypto market, Bitcoin based ETFs have also seen a massive surge in inflows. As per SoSoValue, Bitcoin spot ETFs witnessed a total net inflow of $158 million on Sept. 19.
Ark Invest and 21Shares' ETF ARKB dominated the market with a massive single-day net inflow of around $81 million, while Fidelity ETF FBTC secured a single-day net inflow of approximately $49 million. On the other hand, Bitwise’s ETF BITB saw a single-day net inflow of $10.36 million, followed by Grayscale’s ETF BTC securing a single-day net inflow of $9.54 million.
BlackRock ETF slows down
However, it should be noted that BlackRock’s IBIT had a neutral day, as there were no inflows or outflows for the ETF. This is a surprising development as BlackRock’s Bitcoin ETF has been one of the most successful ETFs on the market. In fact, it still has the highest net inflows overall compared to the rest of the Bitcoin Spot ETFs.
As of Sept. 19, IBIT has a cumulative net inflow of $22.67 billion. Compared to it, Grayscale’s GBTC has a cumulative net inflow of $14.02 billion, while Fidelity’s FBTC has a cumulative net inflow of $11.20 billion. These figures show that despite its stagnant performance recently, the BlackRock Bitcoin ETF remains the biggest ETF on the market today.
Meanwhile, the cumulative total net inflow of the ETF market is currently at $17.60 billion. The total net assets are currently at a whopping $57.82 billion, which is surprisingly 4.64% of the total Bitcoin market cap. This shows that these ETFs have started to overcome the market despite their recent launch.
Ark Invest and 21Shares' ETF ARKB dominated the market with a massive single-day net inflow of around $81 million, while Fidelity ETF FBTC secured a single-day net inflow of approximately $49 million. On the other hand, Bitwise’s ETF BITB saw a single-day net inflow of $10.36 million, followed by Grayscale’s ETF BTC securing a single-day net inflow of $9.54 million.
BlackRock ETF slows down
However, it should be noted that BlackRock’s IBIT had a neutral day, as there were no inflows or outflows for the ETF. This is a surprising development as BlackRock’s Bitcoin ETF has been one of the most successful ETFs on the market. In fact, it still has the highest net inflows overall compared to the rest of the Bitcoin Spot ETFs.
As of Sept. 19, IBIT has a cumulative net inflow of $22.67 billion. Compared to it, Grayscale’s GBTC has a cumulative net inflow of $14.02 billion, while Fidelity’s FBTC has a cumulative net inflow of $11.20 billion. These figures show that despite its stagnant performance recently, the BlackRock Bitcoin ETF remains the biggest ETF on the market today.
Meanwhile, the cumulative total net inflow of the ETF market is currently at $17.60 billion. The total net assets are currently at a whopping $57.82 billion, which is surprisingly 4.64% of the total Bitcoin market cap. This shows that these ETFs have started to overcome the market despite their recent launch.
Bitcoin Surges Past $64k: ETF Inflows Accelerate, Bull Run is On?
TLDR:
Bitcoin price reached $64,082, up 3% in 24 hours
US spot Bitcoin ETFs saw $158 million net inflow on Thursday
Total crypto market cap increased 2% to $2.3 trillion
Bitcoin supply on exchanges decreased by 97.6k coins in 30 days
Analysts see potential for Bitcoin to break $65k resistance soon
Bitcoin, the world’s leading cryptocurrency, has surged past the $64,000 mark, reaching a high of $64,082 in the past 24 hours. This 3% increase comes as US spot Bitcoin ETFs continue to see significant inflows, with Thursday alone bringing in $158 million in net cash.
The total crypto market capitalization has also risen by 2%, now hovering around $2.3 trillion.
The recent price movement has been fueled by several factors, including strong institutional demand and decreasing supply on centralized exchanges.
Over the past 30 days, the supply of Bitcoin on exchanges has dropped by more than 97,600 coins, led by major players like Coinbase Pro and Binance. This reduction in available supply on exchanges is often seen as a bullish indicator, as it suggests that more investors are moving their Bitcoin into long-term storage.
US spot Bitcoin ETFs have been a major driver of this trend, with total net assets under management now reaching an impressive $57.8 billion.
On Thursday, all spot BTC ETF issuers reported positive net cash inflows, with Fidelity’s FBTC and ARK 21Shares Bitcoin ETF (ARKB) leading the pack. This consistent influx of capital into Bitcoin-based investment products demonstrates growing confidence in the cryptocurrency among institutional and retail investors alike.
The broader cryptocurrency market is also showing signs of recovery, with Ethereum (ETH) and Solana (SOL) leading the altcoin rally. This suggests that the bullish sentiment is not limited to Bitcoin alone, but is spreading throughout the entire crypto ecosystem.
From a technical analysis perspective, Bitcoin is approaching a crucial resistance level around $64,000.
Some analysts, like Ali Martinez, believe that a sustained close above the 200-day Moving Average could confirm a bullish continuation towards new all-time highs. The recent “death cross” between the 50-day and 200-day Moving Averages adds an element of caution, but many traders remain optimistic about Bitcoin’s near-term prospects.
On the #Bitcoin daily chart, the RSI has broken through a key resistance trendline, signaling a bullish breakout!
However, $BTC still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run. pic.twitter.com/d6n6j6jH0l
— Ali (@ali_charts) September 19, 2024
The macroeconomic environment also appears to be favoring Bitcoin’s growth. The Federal Reserve’s recent rate cut signals have been interpreted as the beginning of an economic shift, potentially creating a more favorable climate for risk assets like cryptocurrencies.
Many in the crypto industry are anticipating a further bullish rebound in October and the months that follow.
Institutional adoption continues to play a significant role in Bitcoin’s current rally. The involvement of major financial players like BlackRock and Fidelity has lent credibility to Bitcoin as a legitimate asset class.
BlackRock’s Bitcoin ETF, in particular, has become the fastest-growing ETF in history, underscoring the strong demand for Bitcoin exposure among traditional investors.
Looking ahead, some analysts are projecting ambitious price targets for Bitcoin. George from CryptosRUs, for instance, believes that Bitcoin could reach between $250,000 and $300,000 by 2025. While these predictions should be taken with caution, they reflect the growing optimism surrounding Bitcoin’s long-term potential.
As Bitcoin approaches the $65,000 resistance level, eyes are on whether it can break through and potentially challenge its previous all-time high.
The combination of strong ETF inflows, decreasing exchange supply, and growing institutional interest suggests that Bitcoin may have the momentum to test these higher levels in the near future.
The post Bitcoin Surges Past $64k: ETF Inflows Accelerate, Bull Run is On? appeared first on Blockonomi.
Bitcoin price reached $64,082, up 3% in 24 hours
US spot Bitcoin ETFs saw $158 million net inflow on Thursday
Total crypto market cap increased 2% to $2.3 trillion
Bitcoin supply on exchanges decreased by 97.6k coins in 30 days
Analysts see potential for Bitcoin to break $65k resistance soon
Bitcoin, the world’s leading cryptocurrency, has surged past the $64,000 mark, reaching a high of $64,082 in the past 24 hours. This 3% increase comes as US spot Bitcoin ETFs continue to see significant inflows, with Thursday alone bringing in $158 million in net cash.
The total crypto market capitalization has also risen by 2%, now hovering around $2.3 trillion.
The recent price movement has been fueled by several factors, including strong institutional demand and decreasing supply on centralized exchanges.
Over the past 30 days, the supply of Bitcoin on exchanges has dropped by more than 97,600 coins, led by major players like Coinbase Pro and Binance. This reduction in available supply on exchanges is often seen as a bullish indicator, as it suggests that more investors are moving their Bitcoin into long-term storage.
US spot Bitcoin ETFs have been a major driver of this trend, with total net assets under management now reaching an impressive $57.8 billion.
On Thursday, all spot BTC ETF issuers reported positive net cash inflows, with Fidelity’s FBTC and ARK 21Shares Bitcoin ETF (ARKB) leading the pack. This consistent influx of capital into Bitcoin-based investment products demonstrates growing confidence in the cryptocurrency among institutional and retail investors alike.
The broader cryptocurrency market is also showing signs of recovery, with Ethereum (ETH) and Solana (SOL) leading the altcoin rally. This suggests that the bullish sentiment is not limited to Bitcoin alone, but is spreading throughout the entire crypto ecosystem.
From a technical analysis perspective, Bitcoin is approaching a crucial resistance level around $64,000.
Some analysts, like Ali Martinez, believe that a sustained close above the 200-day Moving Average could confirm a bullish continuation towards new all-time highs. The recent “death cross” between the 50-day and 200-day Moving Averages adds an element of caution, but many traders remain optimistic about Bitcoin’s near-term prospects.
On the #Bitcoin daily chart, the RSI has broken through a key resistance trendline, signaling a bullish breakout!
However, $BTC still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run. pic.twitter.com/d6n6j6jH0l
— Ali (@ali_charts) September 19, 2024
The macroeconomic environment also appears to be favoring Bitcoin’s growth. The Federal Reserve’s recent rate cut signals have been interpreted as the beginning of an economic shift, potentially creating a more favorable climate for risk assets like cryptocurrencies.
Many in the crypto industry are anticipating a further bullish rebound in October and the months that follow.
Institutional adoption continues to play a significant role in Bitcoin’s current rally. The involvement of major financial players like BlackRock and Fidelity has lent credibility to Bitcoin as a legitimate asset class.
BlackRock’s Bitcoin ETF, in particular, has become the fastest-growing ETF in history, underscoring the strong demand for Bitcoin exposure among traditional investors.
Looking ahead, some analysts are projecting ambitious price targets for Bitcoin. George from CryptosRUs, for instance, believes that Bitcoin could reach between $250,000 and $300,000 by 2025. While these predictions should be taken with caution, they reflect the growing optimism surrounding Bitcoin’s long-term potential.
As Bitcoin approaches the $65,000 resistance level, eyes are on whether it can break through and potentially challenge its previous all-time high.
The combination of strong ETF inflows, decreasing exchange supply, and growing institutional interest suggests that Bitcoin may have the momentum to test these higher levels in the near future.
The post Bitcoin Surges Past $64k: ETF Inflows Accelerate, Bull Run is On? appeared first on Blockonomi.
On September 20, the total net inflow of Bitcoin spot ETFs was $91.9965 million. Grayscale Bitcoin Mini Trust ETF BTC had a net inflow of $13.3728 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Fidelity ETF FBTC, with a net inflow of $26.123 million. The second largest was Ark Invest and 21Shares ETF ARKB, with a net inflow of $21.9938 million.
Is This The End For Ethereum Or A Generational Opportunity?
Ethereum holders are definitely being tested by some tough times, with recent price action failing to create a bullish perspective for the digital asset. One of the major disappointments has been the performance of spot Ethereum exchange-traded funds (ETFs), which were launched in the U.S. with great fanfare. These ETFs were seen by numerous market participants as the key that could unlock significant upward movement for Ethereum. Since their introduction, they have not delivered the expected results, leaving investors frustrated.
Matt Hougan, Chief Investment Officer of Bitwise, a popular crypto index fund manager, continues to maintain a positive ETH outlook. According to him, Ethereum is still at the forefront of blockchain applications that are seeing breakthrough success.
This Is Not The End For Ethereum
The lack of positive momentum in the Ethereum market has been enough to shake the confidence of seasoned investors. The combination of uncertain macroeconomic factors, rising competition from Solana and other blockchains, and the unmet expectations surrounding the Ethereum ETFs has contributed to the pessimistic outlook for the digital asset.
Among the optimists is Matt Hougan, who shared his views in a recent memo. Hougan has maintained a bullish outlook on Ethereum, standing firm in his belief that the current challenges are only temporary and that the asset still has the potential to rebound. Hougan argues that although Ethereum has fallen behind Bitcoin and Solana’s year-to-date growth of 38% and 31%, respectively, the cryptocurrency’s long-term prospects remain strong.
In his memo, Hougan highlighted ETH’s continued dominance as the leading blockchain for decentralized applications (dApps), stating that it retains the lion’s share of activity among developers building on blockchain technology. He went as far as to liken Ethereum to the “Microsoft of blockchains.”
To support his claim, Hougan pointed to notable examples of Ethereum’s adoption by major companies. One such example is BlackRock’s tokenized money market fund, which launched in March 2024 and now has more than $500 million in assets under management. Another example is Nike’s Web3 gear platform called .Swoosh.
Ethereum has the most active developers and users. As such, Hougan believes the blockchain will be first on the radar of the next large traditional company wanting to do a blockchain product.
What’s Next For ETH?
According to Hougan, Ethereum is a contrarian bet for the rest of the year. What this basically means is that he expects Ethereum to go against the ongoing market sentiment and surprise many investors with a bullish run by the end of the year.
At the time of writing, ETH is trading at $2,440 and is up by 5.2% in the past 24 hours. This recent uptick brings Ethereum close to testing a key resistance level at $2,450 once again.
Source: NewsBTC.com
The post Is This The End For Ethereum Or A Generational Opportunity? appeared first on Crypto Breaking News.
Matt Hougan, Chief Investment Officer of Bitwise, a popular crypto index fund manager, continues to maintain a positive ETH outlook. According to him, Ethereum is still at the forefront of blockchain applications that are seeing breakthrough success.
This Is Not The End For Ethereum
The lack of positive momentum in the Ethereum market has been enough to shake the confidence of seasoned investors. The combination of uncertain macroeconomic factors, rising competition from Solana and other blockchains, and the unmet expectations surrounding the Ethereum ETFs has contributed to the pessimistic outlook for the digital asset.
Among the optimists is Matt Hougan, who shared his views in a recent memo. Hougan has maintained a bullish outlook on Ethereum, standing firm in his belief that the current challenges are only temporary and that the asset still has the potential to rebound. Hougan argues that although Ethereum has fallen behind Bitcoin and Solana’s year-to-date growth of 38% and 31%, respectively, the cryptocurrency’s long-term prospects remain strong.
In his memo, Hougan highlighted ETH’s continued dominance as the leading blockchain for decentralized applications (dApps), stating that it retains the lion’s share of activity among developers building on blockchain technology. He went as far as to liken Ethereum to the “Microsoft of blockchains.”
To support his claim, Hougan pointed to notable examples of Ethereum’s adoption by major companies. One such example is BlackRock’s tokenized money market fund, which launched in March 2024 and now has more than $500 million in assets under management. Another example is Nike’s Web3 gear platform called .Swoosh.
Ethereum has the most active developers and users. As such, Hougan believes the blockchain will be first on the radar of the next large traditional company wanting to do a blockchain product.
What’s Next For ETH?
According to Hougan, Ethereum is a contrarian bet for the rest of the year. What this basically means is that he expects Ethereum to go against the ongoing market sentiment and surprise many investors with a bullish run by the end of the year.
At the time of writing, ETH is trading at $2,440 and is up by 5.2% in the past 24 hours. This recent uptick brings Ethereum close to testing a key resistance level at $2,450 once again.
Source: NewsBTC.com
The post Is This The End For Ethereum Or A Generational Opportunity? appeared first on Crypto Breaking News.
💰Bitcoin Rallies Over $63K After BlackRock's BTC White Paper Release
Bitcoin surged nearly 6% after BlackRock, the world's largest asset manager, published a white paper emphasizing Bitcoin’s potential as a hedge against macroeconomic and geopolitical risks. The white paper, titled Bitcoin: A Unique Diversifier, highlights Bitcoin's decentralized nature and its independence from traditional financial systems, making it a potential safe haven during economic instability.
Shared by senior Bloomberg ETF analyst Eric Balchunas on Sept. 18, the report appeared to coincide with Bitcoin’s price bottoming out at $59,354. Within hours of its release, Bitcoin rallied to $62,600, its highest point in over three weeks.
Bitcoin's Strength in Times of Crisis BlackRock’s analysis points to Bitcoin’s “open-access monetary system,” noting its ability to remain essentially detached from traditional risks such as banking system crises, sovereign debt, and geopolitical conflicts. The white paper included data showing how Bitcoin’s returns have outperformed both the S&P 500 and gold during major geopolitical events, highlighting its resilience as an asset.
Future Adoption Driven by Economic Uncertainty BlackRock forecasts that Bitcoin's long-term adoption will be influenced by macroeconomic factors like global monetary instability and geopolitical tensions. As concerns over fiscal sustainability, political instability, and monetary debasement increase, Bitcoin could become a more attractive option for investors.
Massive ETF Exposure BlackRock is not only promoting Bitcoin’s potential but also managing the world’s largest Bitcoin ETF, holding over $21.4 billion worth of BTC and commanding 38% of the Bitcoin ETF market, signaling its substantial influence in driving Bitcoin adoption.
Stay updated with @Professor Mende - Bonuz Ecosystem Founder and drop a follow!
#Blackrock #Token2049 #BTCReboundsAfterFOMC #FOMC #ETF
$BTC
Bitcoin surged nearly 6% after BlackRock, the world's largest asset manager, published a white paper emphasizing Bitcoin’s potential as a hedge against macroeconomic and geopolitical risks. The white paper, titled Bitcoin: A Unique Diversifier, highlights Bitcoin's decentralized nature and its independence from traditional financial systems, making it a potential safe haven during economic instability.
Shared by senior Bloomberg ETF analyst Eric Balchunas on Sept. 18, the report appeared to coincide with Bitcoin’s price bottoming out at $59,354. Within hours of its release, Bitcoin rallied to $62,600, its highest point in over three weeks.
Bitcoin's Strength in Times of Crisis BlackRock’s analysis points to Bitcoin’s “open-access monetary system,” noting its ability to remain essentially detached from traditional risks such as banking system crises, sovereign debt, and geopolitical conflicts. The white paper included data showing how Bitcoin’s returns have outperformed both the S&P 500 and gold during major geopolitical events, highlighting its resilience as an asset.
Future Adoption Driven by Economic Uncertainty BlackRock forecasts that Bitcoin's long-term adoption will be influenced by macroeconomic factors like global monetary instability and geopolitical tensions. As concerns over fiscal sustainability, political instability, and monetary debasement increase, Bitcoin could become a more attractive option for investors.
Massive ETF Exposure BlackRock is not only promoting Bitcoin’s potential but also managing the world’s largest Bitcoin ETF, holding over $21.4 billion worth of BTC and commanding 38% of the Bitcoin ETF market, signaling its substantial influence in driving Bitcoin adoption.
Stay updated with @Professor Mende - Bonuz Ecosystem Founder and drop a follow!
#Blackrock #Token2049 #BTCReboundsAfterFOMC #FOMC #ETF
$BTC
US Spot Bitcoin ETFs See $158.3 Million in Net Inflows on September 19, Led By ARK Invest and Fid...
US Spot Bitcoin ETFs See $158.3 Million in Net Inflows on September 19, Led by ARK Invest and Fidelity
On September 19, 2024, U.S. spot Bitcoin ETFs witnessed significant inflows, amassing a combined net inflow of $158.3 million, according to data provided by financial information platform Farside Investors. The surge in inflows reflects renewed investor confidence in Bitcoin, as institutional and retail investors increase their exposure to the digital asset through regulated financial products.
The top performers of the day were ARK Invest’s ARKB and Fidelity’s FBTC, which led the market with the largest net inflows. ARK Invest recorded a whopping $81.1 million in net inflows, while Fidelity followed closely with $49.9 million. The data also showed a healthy inflow for Bitwise’s BITB, which saw $10.4 million in net investments.
Other notable spot Bitcoin ETFs, such as Grayscale’s BTC and Franklin Templeton’s EZBC, also recorded smaller but still significant net inflows of $9.5 million and $7.4 million, respectively. In contrast, the remaining U.S. spot Bitcoin ETFs reported no significant net inflows or outflows, signaling stability but no major shifts in investment.
Spot Bitcoin ETFs See Continued Interest from Investors
The combined $158.3 million in net inflows highlights growing institutional and retail interest in spot Bitcoin ETFs as a convenient and secure means to gain exposure to the world’s largest cryptocurrency. Unlike futures-based ETFs, spot Bitcoin ETFs hold the underlying asset directly, providing a more direct investment vehicle for those seeking exposure to Bitcoin’s price movements.
ARK Invest Leads the Pack
The ARK Invest ARKB ETF led the market with a dominant $81.1 million in net inflows. ARK Invest, headed by renowned investor Cathie Wood, has long been a major advocate for disruptive technologies, including cryptocurrencies like Bitcoin. The inflows into ARKB demonstrate investor confidence in both the firm’s expertise and Bitcoin’s long-term potential as a store of value and a hedge against macroeconomic uncertainties.
ARK Invest’s strong performance comes on the heels of positive developments in the Bitcoin market, including growing institutional adoption and favorable regulatory signals from the U.S. Securities and Exchange Commission (SEC). These factors have likely contributed to ARKB’s strong inflow figures as investors look for safe and efficient ways to participate in Bitcoin’s price appreciation.
Fidelity’s FBTC Sees Strong Demand
Following closely behind ARKB, Fidelity’s FBTC ETF saw $49.9 million in net inflows, reflecting the strong demand for the firm’s Bitcoin product. Fidelity Investments is one of the largest asset managers in the world, and its entrance into the Bitcoin ETF market has attracted significant attention from both retail and institutional investors.
As one of the most trusted names in traditional finance, Fidelity’s foray into cryptocurrency ETFs has added a layer of legitimacy to the digital asset market, making it easier for conservative investors to diversify their portfolios with Bitcoin exposure. The $49.9 million net inflow into FBTC underscores the growing confidence in the asset class and Fidelity’s ability to navigate the often-volatile cryptocurrency space.
Bitwise, Grayscale, and Franklin Templeton Join the Surge
In addition to ARK Invest and Fidelity, other major players in the spot Bitcoin ETF market also benefited from the inflows. Bitwise’s BITB ETF attracted $10.4 million, reflecting steady interest in the firm’s Bitcoin offering. Bitwise, known for its broad exposure to digital assets, has become a popular choice for investors seeking diversified exposure to the crypto market.
Meanwhile, Grayscale’s BTC and Franklin Templeton’s EZBC spot Bitcoin ETFs recorded $9.5 million and $7.4 million in net inflows, respectively. These inflows signal that investors are continuing to allocate funds across a variety of Bitcoin products, rather than concentrating solely on the market leaders. Grayscale, in particular, has a long history in the cryptocurrency space, having launched one of the first publicly traded Bitcoin trusts, which eventually evolved into its spot Bitcoin ETF.
Spot Bitcoin ETFs: A Growing Market
The strong inflows into U.S. spot Bitcoin ETFs on September 19 reflect a growing trend toward more regulated, institution-friendly Bitcoin products. Spot Bitcoin ETFs, which directly hold Bitcoin rather than using derivatives like futures contracts, are becoming increasingly attractive to investors who prefer direct exposure to the asset.
Additionally, as the broader cryptocurrency market continues to mature, Bitcoin ETFs are becoming a key tool for investors who want to benefit from Bitcoin’s price appreciation without the complexities of directly purchasing and storing the digital asset. These ETFs provide a seamless entry point for those looking to include Bitcoin in their portfolios, and the recent inflows suggest that demand for these products is likely to continue growing.
Regulatory Developments and Market Sentiment
The surge in inflows also coincides with positive regulatory developments in the U.S. concerning cryptocurrency-based financial products. Over the past year, the SEC has approved several spot Bitcoin ETFs, offering investors a regulated way to gain exposure to Bitcoin. This has provided a sense of security for those who may have been hesitant to invest in Bitcoin directly due to regulatory uncertainties.
As a result, institutional adoption of Bitcoin is increasing, with more asset managers and hedge funds recognizing the value of holding Bitcoin as part of a diversified portfolio. In addition, the inflows reflect growing confidence in Bitcoin as an asset class, particularly as the macroeconomic environment remains uncertain, and traditional markets face heightened volatility.
Conclusion: U.S. Spot Bitcoin ETFs Continue to Attract Investors
The $158.3 million net inflow into U.S. spot Bitcoin ETFs on September 19 highlights the increasing demand for regulated Bitcoin products. ARK Invest and Fidelity led the charge, with $81.1 million and $49.9 million in net inflows, respectively, while Bitwise, Grayscale, and Franklin Templeton also saw strong investment activity.
As spot Bitcoin ETFs continue to grow in popularity, they are becoming a vital part of the financial landscape, offering investors a regulated and accessible way to gain exposure to Bitcoin. The sustained inflows suggest that both retail and institutional investors see long-term potential in Bitcoin, despite the asset’s short-term volatility.
With regulatory clarity improving and more financial institutions entering the market, the future looks bright for spot Bitcoin ETFs. Investors seeking exposure to Bitcoin can now choose from a variety of trusted products, all designed to provide secure and transparent access to the world’s largest cryptocurrency.
Internal Link Reference
To learn more about the innovative startups shaping the future of the crypto industry, explore our article on the latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.
On September 19, 2024, U.S. spot Bitcoin ETFs witnessed significant inflows, amassing a combined net inflow of $158.3 million, according to data provided by financial information platform Farside Investors. The surge in inflows reflects renewed investor confidence in Bitcoin, as institutional and retail investors increase their exposure to the digital asset through regulated financial products.
The top performers of the day were ARK Invest’s ARKB and Fidelity’s FBTC, which led the market with the largest net inflows. ARK Invest recorded a whopping $81.1 million in net inflows, while Fidelity followed closely with $49.9 million. The data also showed a healthy inflow for Bitwise’s BITB, which saw $10.4 million in net investments.
Other notable spot Bitcoin ETFs, such as Grayscale’s BTC and Franklin Templeton’s EZBC, also recorded smaller but still significant net inflows of $9.5 million and $7.4 million, respectively. In contrast, the remaining U.S. spot Bitcoin ETFs reported no significant net inflows or outflows, signaling stability but no major shifts in investment.
Spot Bitcoin ETFs See Continued Interest from Investors
The combined $158.3 million in net inflows highlights growing institutional and retail interest in spot Bitcoin ETFs as a convenient and secure means to gain exposure to the world’s largest cryptocurrency. Unlike futures-based ETFs, spot Bitcoin ETFs hold the underlying asset directly, providing a more direct investment vehicle for those seeking exposure to Bitcoin’s price movements.
ARK Invest Leads the Pack
The ARK Invest ARKB ETF led the market with a dominant $81.1 million in net inflows. ARK Invest, headed by renowned investor Cathie Wood, has long been a major advocate for disruptive technologies, including cryptocurrencies like Bitcoin. The inflows into ARKB demonstrate investor confidence in both the firm’s expertise and Bitcoin’s long-term potential as a store of value and a hedge against macroeconomic uncertainties.
ARK Invest’s strong performance comes on the heels of positive developments in the Bitcoin market, including growing institutional adoption and favorable regulatory signals from the U.S. Securities and Exchange Commission (SEC). These factors have likely contributed to ARKB’s strong inflow figures as investors look for safe and efficient ways to participate in Bitcoin’s price appreciation.
Fidelity’s FBTC Sees Strong Demand
Following closely behind ARKB, Fidelity’s FBTC ETF saw $49.9 million in net inflows, reflecting the strong demand for the firm’s Bitcoin product. Fidelity Investments is one of the largest asset managers in the world, and its entrance into the Bitcoin ETF market has attracted significant attention from both retail and institutional investors.
As one of the most trusted names in traditional finance, Fidelity’s foray into cryptocurrency ETFs has added a layer of legitimacy to the digital asset market, making it easier for conservative investors to diversify their portfolios with Bitcoin exposure. The $49.9 million net inflow into FBTC underscores the growing confidence in the asset class and Fidelity’s ability to navigate the often-volatile cryptocurrency space.
Bitwise, Grayscale, and Franklin Templeton Join the Surge
In addition to ARK Invest and Fidelity, other major players in the spot Bitcoin ETF market also benefited from the inflows. Bitwise’s BITB ETF attracted $10.4 million, reflecting steady interest in the firm’s Bitcoin offering. Bitwise, known for its broad exposure to digital assets, has become a popular choice for investors seeking diversified exposure to the crypto market.
Meanwhile, Grayscale’s BTC and Franklin Templeton’s EZBC spot Bitcoin ETFs recorded $9.5 million and $7.4 million in net inflows, respectively. These inflows signal that investors are continuing to allocate funds across a variety of Bitcoin products, rather than concentrating solely on the market leaders. Grayscale, in particular, has a long history in the cryptocurrency space, having launched one of the first publicly traded Bitcoin trusts, which eventually evolved into its spot Bitcoin ETF.
Spot Bitcoin ETFs: A Growing Market
The strong inflows into U.S. spot Bitcoin ETFs on September 19 reflect a growing trend toward more regulated, institution-friendly Bitcoin products. Spot Bitcoin ETFs, which directly hold Bitcoin rather than using derivatives like futures contracts, are becoming increasingly attractive to investors who prefer direct exposure to the asset.
Additionally, as the broader cryptocurrency market continues to mature, Bitcoin ETFs are becoming a key tool for investors who want to benefit from Bitcoin’s price appreciation without the complexities of directly purchasing and storing the digital asset. These ETFs provide a seamless entry point for those looking to include Bitcoin in their portfolios, and the recent inflows suggest that demand for these products is likely to continue growing.
Regulatory Developments and Market Sentiment
The surge in inflows also coincides with positive regulatory developments in the U.S. concerning cryptocurrency-based financial products. Over the past year, the SEC has approved several spot Bitcoin ETFs, offering investors a regulated way to gain exposure to Bitcoin. This has provided a sense of security for those who may have been hesitant to invest in Bitcoin directly due to regulatory uncertainties.
As a result, institutional adoption of Bitcoin is increasing, with more asset managers and hedge funds recognizing the value of holding Bitcoin as part of a diversified portfolio. In addition, the inflows reflect growing confidence in Bitcoin as an asset class, particularly as the macroeconomic environment remains uncertain, and traditional markets face heightened volatility.
Conclusion: U.S. Spot Bitcoin ETFs Continue to Attract Investors
The $158.3 million net inflow into U.S. spot Bitcoin ETFs on September 19 highlights the increasing demand for regulated Bitcoin products. ARK Invest and Fidelity led the charge, with $81.1 million and $49.9 million in net inflows, respectively, while Bitwise, Grayscale, and Franklin Templeton also saw strong investment activity.
As spot Bitcoin ETFs continue to grow in popularity, they are becoming a vital part of the financial landscape, offering investors a regulated and accessible way to gain exposure to Bitcoin. The sustained inflows suggest that both retail and institutional investors see long-term potential in Bitcoin, despite the asset’s short-term volatility.
With regulatory clarity improving and more financial institutions entering the market, the future looks bright for spot Bitcoin ETFs. Investors seeking exposure to Bitcoin can now choose from a variety of trusted products, all designed to provide secure and transparent access to the world’s largest cryptocurrency.
Internal Link Reference
To learn more about the innovative startups shaping the future of the crypto industry, explore our article on the latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.
US Spot BTC ETF Rak In $158M Net Inflow Within a Day of Trading
US Bitcoin (BTC) spot exchange-traded funds (ETFs) witnessed a remarkable influx of $158.3 million net inflows on September 19, marking a significant shift from the previous day's net outflow, as reported by Farside Investors. The surge was driven primarily by three ETFs: Ark 21Shares ARKB, Fidelity FBTC, and Bytewise BITB, which saw net inflows of $81.1 million, $49.9 million, and $10.4 million, respectively. Contrastingly, BlackRock's IBIT ETF remained neutral, with no notable net inflow or outflow. This positive development indicates growing institutional interest in the US spot BTC ETF market. The sudden change in sentiment toward net inflows suggests a shift in investor sentiment, potentially attributed to factors such as increased regulatory clarity or positive market developments.
This Ethereum Token Is Set to Replicate Dogecoin and Shiba Inu Millionaire Run From 2021
The post This Ethereum Token Is Set To Replicate Dogecoin And Shiba Inu Millionaire Run From 2021 appeared first on Coinpedia Fintech News
Dogecoin (DOGE) and Shiba Inu (SHIB) created overnight millionaires in the 2021 rally, but attention has turned to the new Ethereum-based token ETFSwap (ETFS). This new token is set to replicate the success of the meme coins, and investors are banking on its underpriced presale for entry. ETFSwap (ETFS) is poised for massive growth as momentum gears up for another bull run and, therefore, another massive runner. Read on to see why ETFSwap (ETFS) is the winning pick for impressive market gains.
ETFSwap (ETFS) Exhibits Potential For A 50,000% Price Move
ETFSwap (ETFS) is experiencing massive investor interest as the platform gears toward launch. Launching on the Ethereum network, ETFSwap (ETFS) aims to create a decentralized platform for trading tokenized ETFs. This expands the boundaries of the centralized ETF market as investors seek newer ways to profit from the platform.
The new ETF trading platform will partner with MiCa-compliant investment banks that trade securities and cryptocurrencies to manage its cross-compatible features. ETFSwap (ETFS) will facilitate faster ETF settlements, 24/7 market coverage, and decentralized no-KYC access.
Crypto investors are excited about the zero-KYC feature, allowing them to maintain anonymity when trading. Considering that the KYC requirements have been a deal-breaker or psychological barrier for crypto enthusiasts, ETFSwap (ETFS) facilitates smooth diversification into the ETF market.
Users will get access to various commodities alongside advanced trading tools and real-time market data to trade crypto and ETF. With AI-powered algorithms like the ETF Screener and ETF Finder, users can expect the best market recommendations based on extensive data analysis.
ETFSwap (ETFS) has announced the beta platform launch in the coming weeks, allowing access to early testing of the platform ahead of the main launch. The team has also announced plans to launch its own ETF in 2025, an event that could further draw in millions in liquidity to the platform.
Presale investors stand to be the biggest winners on ETFSwap (ETFS), and you should seize the opportunity to get in amid the limited window. SolidProof has carried out a KYC audit that verified project ownership and the identities of members of the ETFSwap (ETFS) team.
Dogecoin (DOGE) And Shiba Inu (SHIB) Holders Do Not Expect The Same Rally As 2021
Dogecoin and Shiba Inu were top performers in the 2021 bull market, leading altcoins to new highs. Dogecoin (DOGE) and Shiba Inu (SHIB) have not been quite as impressive in the current market rally.
Despite short periods of price gains on the meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB) often appear to shed more value amid market volatility. As of this writing, Dogecoin (DOGE) is trading at $0.1004, and Shiba Inu (SHIB) is trading at $0.00001319, both showing less than 100% gains in the past year.
Although Dogecoin and Shiba Inu are trading at a discount from their all-time highs, the meme coins do not offer the same profit margin as they did in 2021. Both meme coins have grown too big to replicate the 2021 rally, leading investors to seek the opportunity in newer coins.
Conclusion
ETFSwap (ETFS) is set for massive gains and could replicate the Dogecoin (DOGE) and Shiba Inu (SHIB) rally of 2021. Compared to the meme coins, the new Ethereum token is not subject to market volatility and continues to sell on presale under controlled price conditions. The presale allows investors to get in below market value and capitalize on the margin for profit at launch.
Get in now at $0.03846 as the ETFSwap (ETFS) is in its final presale stage.
For more information about the ETFS Presale:
Visit ETFSwap Presale
Join The ETFSwap Community
Dogecoin (DOGE) and Shiba Inu (SHIB) created overnight millionaires in the 2021 rally, but attention has turned to the new Ethereum-based token ETFSwap (ETFS). This new token is set to replicate the success of the meme coins, and investors are banking on its underpriced presale for entry. ETFSwap (ETFS) is poised for massive growth as momentum gears up for another bull run and, therefore, another massive runner. Read on to see why ETFSwap (ETFS) is the winning pick for impressive market gains.
ETFSwap (ETFS) Exhibits Potential For A 50,000% Price Move
ETFSwap (ETFS) is experiencing massive investor interest as the platform gears toward launch. Launching on the Ethereum network, ETFSwap (ETFS) aims to create a decentralized platform for trading tokenized ETFs. This expands the boundaries of the centralized ETF market as investors seek newer ways to profit from the platform.
The new ETF trading platform will partner with MiCa-compliant investment banks that trade securities and cryptocurrencies to manage its cross-compatible features. ETFSwap (ETFS) will facilitate faster ETF settlements, 24/7 market coverage, and decentralized no-KYC access.
Crypto investors are excited about the zero-KYC feature, allowing them to maintain anonymity when trading. Considering that the KYC requirements have been a deal-breaker or psychological barrier for crypto enthusiasts, ETFSwap (ETFS) facilitates smooth diversification into the ETF market.
Users will get access to various commodities alongside advanced trading tools and real-time market data to trade crypto and ETF. With AI-powered algorithms like the ETF Screener and ETF Finder, users can expect the best market recommendations based on extensive data analysis.
ETFSwap (ETFS) has announced the beta platform launch in the coming weeks, allowing access to early testing of the platform ahead of the main launch. The team has also announced plans to launch its own ETF in 2025, an event that could further draw in millions in liquidity to the platform.
Presale investors stand to be the biggest winners on ETFSwap (ETFS), and you should seize the opportunity to get in amid the limited window. SolidProof has carried out a KYC audit that verified project ownership and the identities of members of the ETFSwap (ETFS) team.
Dogecoin (DOGE) And Shiba Inu (SHIB) Holders Do Not Expect The Same Rally As 2021
Dogecoin and Shiba Inu were top performers in the 2021 bull market, leading altcoins to new highs. Dogecoin (DOGE) and Shiba Inu (SHIB) have not been quite as impressive in the current market rally.
Despite short periods of price gains on the meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB) often appear to shed more value amid market volatility. As of this writing, Dogecoin (DOGE) is trading at $0.1004, and Shiba Inu (SHIB) is trading at $0.00001319, both showing less than 100% gains in the past year.
Although Dogecoin and Shiba Inu are trading at a discount from their all-time highs, the meme coins do not offer the same profit margin as they did in 2021. Both meme coins have grown too big to replicate the 2021 rally, leading investors to seek the opportunity in newer coins.
Conclusion
ETFSwap (ETFS) is set for massive gains and could replicate the Dogecoin (DOGE) and Shiba Inu (SHIB) rally of 2021. Compared to the meme coins, the new Ethereum token is not subject to market volatility and continues to sell on presale under controlled price conditions. The presale allows investors to get in below market value and capitalize on the margin for profit at launch.
Get in now at $0.03846 as the ETFSwap (ETFS) is in its final presale stage.
For more information about the ETFS Presale:
Visit ETFSwap Presale
Join The ETFSwap Community
Bitcoin ETF Inflows Surge to $158.3M
The post Bitcoin ETF Inflows Surge to $158.3M appeared first on Coinpedia Fintech News
The bullish momentum is rising, with the Bitcoin price marking a 24-hour high above the $64,000 mark. Supporting the bullish momentum, the Bitcoin ETF market bounced back after ending the four-day streak of consecutive inflows. On 19 September, the net inflow in the US Spot Bitcoin ETFs hit $158.3M, with $49.9M in Fidelity’s FBTC, $10.4M in Bitwise’s BITB, $81.1M in ARK21 shares, ARKB, $7.4M in Franklin Templeton’s EZBC and Grayscale’s BTC ETFs. Currently, the total net Bitcoin held by the Spot ETFs is worth $57.82B.
The bullish momentum is rising, with the Bitcoin price marking a 24-hour high above the $64,000 mark. Supporting the bullish momentum, the Bitcoin ETF market bounced back after ending the four-day streak of consecutive inflows. On 19 September, the net inflow in the US Spot Bitcoin ETFs hit $158.3M, with $49.9M in Fidelity’s FBTC, $10.4M in Bitwise’s BITB, $81.1M in ARK21 shares, ARKB, $7.4M in Franklin Templeton’s EZBC and Grayscale’s BTC ETFs. Currently, the total net Bitcoin held by the Spot ETFs is worth $57.82B.
📊📈 $BTC - #ETF inflows have started increasing again, indicating a rekindled interest from institutional investors in accumulating Bitcoin.
How MicroStrategy ETFs added $2m in volatile ‘hot sauce’ to market in one day
There are two new crypto exchange-traded funds in town, and they’re the most volatile exchange-traded funds in US history, according to Bloomberg Intelligence ETF analyst Eric Balchunas.
“Tuttle just re-broke the volatility barrier,” he said, in reference to ETF issuers Rex and Tuttle Capital Management, who launched the two leveraged MicroStrategy ETFs on Wednesday.
One of the ETFs is for bets that the stock will go higher, and one for bets the stock will go lower.
The funds give investors leveraged exposure to MicroStrategy, meaning that if the stock goes up or down by 5%, the ETFs will go up or down by 10%. This also means that investment vehicles are about 15 times more volatile than the S&P 500, according to Bloomberg Intelligence ETF analyst Eric Balchunas.
Though MicroStrategy is a cloud services business, it’s morphed into a proxy for investing in Bitcoin due to the firm’s billion-dollar investments in the digital asset.
While analysts argue that the launch of spot Bitcoin ETFs jeopardises the proxy role, its co-founder and chair, Michael Saylor, has said the company still has several advantages going for it. He said the company doesn’t take high fees and develops technology.
The most volatile ETF in the US
The long MicroStrategy ETF saw $2 million in volume on launch day and by midday on Thursday was on track to hit $10 million, Balchunas posted on X.
“Only 1-2% of ETF launches see this kind of volume this early,” Balchunas wrote. “It helps that it is up 17%.”
The success of the ETF is particularly notable in that it isn’t the first leveraged MicroStrategy fund to launch.
Another ETF firm, Defiance ETFs, launched a 1.75x MicroStrategy ETF on August 15. The fund crossed the $200 million mark on Wednesday. That puts the fund in the same ballpark as most spot Ethereum ETFs in terms of assets.
“Hot sauce arms race in effect,” Balchunas said. “Just that little extra bit of leverage moved the needle,” Balchunas said about T-Rex’s fund.
MicroStrategy isn’t the only crypto firm getting its own ETFs.
ETF issuer YieldMax ETF launched an inverse Coinbase ETF in July, enabling traders to profit from the crypto exchange Coinbase’s stock going down while earning a yield at the same time.
Crypto market movers
Bitcoin is up 1.6% over the past 24 hours to trade at $63,490.
Ethereum is up 4.5% to $2,548.
What we’re reading
BlackRock’s new laser-eyed Bitcoin screed lays out why to invest in ‘flight to safety’ asset — DL News
Louisiana Leads the Way: Bitcoin Now Accepted for Utility Bills — Milk Road
Trump’s Crypto Project May Attract Hackers. That’s Why This Security Expert Joined — Unchained
Ethena Domain Registrar Hacked, Users Warned to Stay Away — Milk Road
Axie Infinity founder wants everyone to work in his games: It’s ‘not dystopian’ — DL News
Tom Carreras is a Markets Correspondent for DL News. Got a tip? Email at tips@dlnews.com.
“Tuttle just re-broke the volatility barrier,” he said, in reference to ETF issuers Rex and Tuttle Capital Management, who launched the two leveraged MicroStrategy ETFs on Wednesday.
One of the ETFs is for bets that the stock will go higher, and one for bets the stock will go lower.
The funds give investors leveraged exposure to MicroStrategy, meaning that if the stock goes up or down by 5%, the ETFs will go up or down by 10%. This also means that investment vehicles are about 15 times more volatile than the S&P 500, according to Bloomberg Intelligence ETF analyst Eric Balchunas.
Though MicroStrategy is a cloud services business, it’s morphed into a proxy for investing in Bitcoin due to the firm’s billion-dollar investments in the digital asset.
While analysts argue that the launch of spot Bitcoin ETFs jeopardises the proxy role, its co-founder and chair, Michael Saylor, has said the company still has several advantages going for it. He said the company doesn’t take high fees and develops technology.
The most volatile ETF in the US
The long MicroStrategy ETF saw $2 million in volume on launch day and by midday on Thursday was on track to hit $10 million, Balchunas posted on X.
“Only 1-2% of ETF launches see this kind of volume this early,” Balchunas wrote. “It helps that it is up 17%.”
The success of the ETF is particularly notable in that it isn’t the first leveraged MicroStrategy fund to launch.
Another ETF firm, Defiance ETFs, launched a 1.75x MicroStrategy ETF on August 15. The fund crossed the $200 million mark on Wednesday. That puts the fund in the same ballpark as most spot Ethereum ETFs in terms of assets.
“Hot sauce arms race in effect,” Balchunas said. “Just that little extra bit of leverage moved the needle,” Balchunas said about T-Rex’s fund.
MicroStrategy isn’t the only crypto firm getting its own ETFs.
ETF issuer YieldMax ETF launched an inverse Coinbase ETF in July, enabling traders to profit from the crypto exchange Coinbase’s stock going down while earning a yield at the same time.
Crypto market movers
Bitcoin is up 1.6% over the past 24 hours to trade at $63,490.
Ethereum is up 4.5% to $2,548.
What we’re reading
BlackRock’s new laser-eyed Bitcoin screed lays out why to invest in ‘flight to safety’ asset — DL News
Louisiana Leads the Way: Bitcoin Now Accepted for Utility Bills — Milk Road
Trump’s Crypto Project May Attract Hackers. That’s Why This Security Expert Joined — Unchained
Ethena Domain Registrar Hacked, Users Warned to Stay Away — Milk Road
Axie Infinity founder wants everyone to work in his games: It’s ‘not dystopian’ — DL News
Tom Carreras is a Markets Correspondent for DL News. Got a tip? Email at tips@dlnews.com.
Bitcoin and Ethereum ETFs Experience $35.39M and $11.41M in Outflows
On the 19th of this month, the crypto market went through a noteworthy shift with Bitcoin and Ethereum ETFs experiencing significant outflows. As per Lookonchain, a popular on-chain analytics company, the cumulative outflow from Bitcoin ETFs reached 558 $BTC while the Ethereum ETFs saw 4,605 $ETH in outflows. The analytics platform discussed the current scenario of the ETF market on its social media account on X.
Sept 19 Update:10 #Bitcoin ETFsNetFlow: -558 $BTC(-$35.39M)#ARK21Shares outflows 725 $BTC($46.01M) and currently holds 44,982 $BTC($2.85B).9 #Ethereum ETFsNetFlow: -4,605 $ETH(-$11.41M)#Grayscale(ETHE) outflows 7,718 $ETH($19.13M) and currently holds 1,724,293… pic.twitter.com/yItTqqMzac
— Lookonchain (@lookonchain) September 19, 2024
Bitcoin ETFs Record an Outflow of $35.39M on September 19
Lookonchain noted that the massive outflows of almost $558 $BTC, equaling $35.39M, reflect the investor sentiment amid the market consolidation. ARK 21Shares emerged as the most prominent contributor in the case of this outflow. The exchange-traded fund witnessed 725 $BTC in withdrawals, with a value of $46.01M. Irrespective of this, ARK 21Shares keeps on holding a great amount of $BTC. Hence, its portfolio contains nearly 44,982 $BTC, equaling $2.85B.
Bitcoin ETFs have emerged as famous investment vehicles, letting investors gain crypto exposure without a direct holding. The recent outflows indicate that a few investors may be adjusting portfolios during the market uncertainty or gaining profits. The latest volatility in the wider financial markets has likely played a crucial role in this respect.
Additionally, Ethereum ETFs also saw 4,605 $ETH (nearly $11.41M) in net outflows. Grayscale Ethereum Trust witnesses $7.718 $ETH, valued at 19,13M. Irrespective of these outflows, a continuous dominance of Grayscale has been seen in the $ETH ETF sector. It holds 1,724,293 $ETH, equaling $4.27B. The withdrawals from Ethereum exchange-traded funds denote a trend similar to Bitcoin.
The Enormous Outflows Highlight the Signify a Cooling Off Period among the Institutional Investors
Some of the investors are potentially taking profits. Otherwise, they might be reallocating portfolios in response to the recent price changes. According to Lookonchain, Ethereum has witnessed fluctuating prices during the previous weeks just like Bitcoin. This could point toward a provisional cooling-off time for a few institutional investors.
Sept 19 Update:10 #Bitcoin ETFsNetFlow: -558 $BTC(-$35.39M)#ARK21Shares outflows 725 $BTC($46.01M) and currently holds 44,982 $BTC($2.85B).9 #Ethereum ETFsNetFlow: -4,605 $ETH(-$11.41M)#Grayscale(ETHE) outflows 7,718 $ETH($19.13M) and currently holds 1,724,293… pic.twitter.com/yItTqqMzac
— Lookonchain (@lookonchain) September 19, 2024
Bitcoin ETFs Record an Outflow of $35.39M on September 19
Lookonchain noted that the massive outflows of almost $558 $BTC, equaling $35.39M, reflect the investor sentiment amid the market consolidation. ARK 21Shares emerged as the most prominent contributor in the case of this outflow. The exchange-traded fund witnessed 725 $BTC in withdrawals, with a value of $46.01M. Irrespective of this, ARK 21Shares keeps on holding a great amount of $BTC. Hence, its portfolio contains nearly 44,982 $BTC, equaling $2.85B.
Bitcoin ETFs have emerged as famous investment vehicles, letting investors gain crypto exposure without a direct holding. The recent outflows indicate that a few investors may be adjusting portfolios during the market uncertainty or gaining profits. The latest volatility in the wider financial markets has likely played a crucial role in this respect.
Additionally, Ethereum ETFs also saw 4,605 $ETH (nearly $11.41M) in net outflows. Grayscale Ethereum Trust witnesses $7.718 $ETH, valued at 19,13M. Irrespective of these outflows, a continuous dominance of Grayscale has been seen in the $ETH ETF sector. It holds 1,724,293 $ETH, equaling $4.27B. The withdrawals from Ethereum exchange-traded funds denote a trend similar to Bitcoin.
The Enormous Outflows Highlight the Signify a Cooling Off Period among the Institutional Investors
Some of the investors are potentially taking profits. Otherwise, they might be reallocating portfolios in response to the recent price changes. According to Lookonchain, Ethereum has witnessed fluctuating prices during the previous weeks just like Bitcoin. This could point toward a provisional cooling-off time for a few institutional investors.