💰 $1.4B Inflows Into Spot Bitcoin ETF After First Two Trading Sessions🚀🌐

In a remarkable debut, Spot Bitcoin exchange-traded funds (ETFs) launched last Thursday, and the response has been nothing short of extraordinary! 📈💡 Within just two trading sessions, these ETFs have attracted a whopping $1.4 billion in total inflows, signaling a strong endorsement from investors.

📊 Key Highlights:

🚀 Rapid Adoption and Trading Frenzy:

Total inflows into Spot Bitcoin ETFs hit $1.4 billion, with an impressive 500,000 trades in the first two days.

Trading volumes soared to around $3.6 billion, underscoring the robust demand and enthusiasm in the market.

🔄 Grayscale's Shift and Net Inflows:

Grayscale's ETF, the Grayscale Bitcoin Trust (GBTC), saw an outflow of $579 million during the period.

Adjusting for GBTC outflows, the net total inflows across all spot Bitcoin ETFs amounted to a substantial $819 million.

📉 Reasons Behind GBTC Outflows:

GBTC outflows are linked to holders converting their shares after the U.S. SEC's approval of the ETF through a ruling change.

Some GBTC holders are switching to lower-fee options offered by other fund managers, such as BlackRock charging 0.25% compared to Grayscale's 1.50%.

🏦 Top Performers Among Spot Bitcoin ETFs:

BlackRock's iShares Bitcoin Trust led the pack with $497.7 million in total flows.

Fidelity Advantage Bitcoin ETF followed closely with $422.3 million, and Bitwise secured $237.9 million.

As Spot Bitcoin ETFs reshape the crypto landscape, it's crucial to stay informed! For the latest updates and insights, follow The Blockopedia.

#ETFApproved #ETFsApproval #SECandETF #Cryptocurrency #crypto2024

🔍 Breaking: SEC vs. Coinbase Update - Judge Failla Challenges SEC’s Case! 🏛️💼

In a courtroom showdown on January 17, the battle between the US Securities and Exchange Commission (SEC) and Coinbase reached a pivotal moment. Coinbase's argument that its traded tokens shouldn't be deemed securities took center stage, and the judge's reactions signal potential shifts in the crypto regulatory landscape. 🚀

Key Highlights from the Hearing:

Judge Failla Leans Towards Coinbase:

🤔 Judge Failla showed favorable inclinations towards Coinbase, expressing keen interest in the case.👍 Commended the decentralized finance (DeFi) community's amicus brief, contrasting it favorably with the SEC’s stance.

Howey Test and Token Classification:

🧐 Judge Failla questioned the SEC's handling of the Howey test, a pivotal element in defining securities.🤖 SEC lawyer referred to tokens as "computer code," sparking skepticism from the judge about the SEC's position.

Risks of Staking and Broad SEC Definitions:

⚖️ Discussed risks associated with staking on Coinbase, comparing them to traditional banks.🤨 Judge Failla expressed concerns about the SEC's broad definition of securities and its potential impact on purchasers.

Collectibles and Strict Liability Argument:

🤔 Judge Failla expressed caution about implicating commodities or non-security assets.🤯 Ridiculed SEC's use of "strict liability," demanding precise explanations on how Coinbase should have known about unregistered securities.

Judge Failla's Skepticism and Retail Investor Concerns:

🧐 Expressed skepticism about SEC's claims and potential implications on retail investors.🤔 Questioned if purchasers would have the right of rescission if tokens were deemed securities.

🚨 Stay Informed, Stay Engaged! Follow The Blockopedia for Crypto Regulatory Insights! 🌐📰

#SECandETF #CoinbaseShares #MANTA #cryptocurrency #crypto2024

$BTC UPDATE
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📉📉 #Bitcoin crashed more than 17% after the SEC approved a Bitcoin ETF
#SECandETF #SECApprovalJourney #BitcoinETFapproved