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#write2earn #BitcoinETF COMPETITION HEATS UP: #VANECK LEADS WITH FEE WAIVERS #bitcoin #ETF $BTC Investors have injected more than $200 million into VanEck's spot Bitcoin exchange-traded fund, taking advantage of fee waivers for the initial $1.5 billion in assets until March next year. This surge coincides with increasing competition among crypto ETF providers, driven by growing demand for Bitcoin exposure among investors. Bitcoin's price soared to a new high of $73,664 on Wednesday, marking a 3.6% increase . Since its launch in January, the VanEck Bitcoin Trust, managing approximately $516 million, has seen a net inflow of $333 million, with a significant portion coming in over the past two days following the fee reduction from 0.20%, as reported by Bloomberg. This is the second time the fund has reduced its fees to stay competitive against offerings from competitors like BlackRock Inc. and Fidelity Investments, which have attracted net inflows of $11.4 billion and $6.4 billion, respectively. Other providers, such as Bitwise and Invesco Ltd., have also temporarily waived charges or set conditions until their funds reach a certain size. Grayscale Investments LLC recently introduced a clone of its Bitcoin ETF, named the Grayscale Bitcoin Mini Trust, in response to losing billions to lower-cost rivals. The Grayscale Bitcoin Trust, with the highest market fee of 1.5%, has experienced a net outflow of over $11 billion since January 11, according to Bloomberg data. Outflows from the Grayscale Bitcoin Trust decreased to $78 million on Tuesday from nearly $500 million the previous day, resulting in a total net inflow of $1.04 billion for US Bitcoin ETFs, the largest daily inflow since their launch. Grayscale's spokesperson did not respond immediately to a request for comment outside of regular business hours. The early success of the ten Bitcoin ETFs has attracted $11 billion in just two months. Coupled with the upcoming 'halving' event, which will halve the supply of new Bitcoin, competition for investor funds is expected to intensify further

#write2earn #BitcoinETF COMPETITION HEATS UP: #VANECK LEADS WITH FEE WAIVERS #bitcoin #ETF

$BTC

Investors have injected more than $200 million into VanEck's spot Bitcoin exchange-traded fund, taking advantage of fee waivers for the initial $1.5 billion in assets until March next year. This surge coincides with increasing competition among crypto ETF providers, driven by growing demand for Bitcoin exposure among investors. Bitcoin's price soared to a new high of $73,664 on Wednesday, marking a 3.6% increase .

Since its launch in January, the VanEck Bitcoin Trust, managing approximately $516 million, has seen a net inflow of $333 million, with a significant portion coming in over the past two days following the fee reduction from 0.20%, as reported by Bloomberg.

This is the second time the fund has reduced its fees to stay competitive against offerings from competitors like BlackRock Inc. and Fidelity Investments, which have attracted net inflows of $11.4 billion and $6.4 billion, respectively. Other providers, such as Bitwise and Invesco Ltd., have also temporarily waived charges or set conditions until their funds reach a certain size.

Grayscale Investments LLC recently introduced a clone of its Bitcoin ETF, named the Grayscale Bitcoin Mini Trust, in response to losing billions to lower-cost rivals. The Grayscale Bitcoin Trust, with the highest market fee of 1.5%, has experienced a net outflow of over $11 billion since January 11, according to Bloomberg data.

Outflows from the Grayscale Bitcoin Trust decreased to $78 million on Tuesday from nearly $500 million the previous day, resulting in a total net inflow of $1.04 billion for US Bitcoin ETFs, the largest daily inflow since their launch. Grayscale's spokesperson did not respond immediately to a request for comment outside of regular business hours.

The early success of the ten Bitcoin ETFs has attracted $11 billion in just two months. Coupled with the upcoming 'halving' event, which will halve the supply of new Bitcoin, competition for investor funds is expected to intensify further

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#write2earn Navigating #Bitcoin 's Recent Trends: #Grayscale Influence and Price Analysis #bitcoinETF #Bullmarlet $BTC Over the past five days, the significant outflow of Bitcoin ($BTC), driven by the selling of Grayscale Spot ETF, has been balanced by a substantial inflow of $418 million on Tuesday. This indicates a likely decrease in Grayscale outflows soon, paving the way for renewed Bitcoin buying momentum. During this period, Grayscale Bitcoin Spot ETF (GBTC) has been consistently selling Bitcoin into the market, coinciding with dwindling inflows in other 9 Spot Bitcoin ETFs. Surprisingly, despite these sell-offs, the Bitcoin price has seen an upward trend. Who else has been participating in Bitcoin transactions? Much attention has been on Spot Bitcoin ETFs, with Grayscale alone selling over $500 billion worth of Bitcoin since January 11, almost half of its holdings, in just two months. Despite this massive sell-off, other Spot Bitcoin ETFs have made significant purchases, as seen with Tuesday's $418 million net inflow. However, the question arises: who was buying during the five days when these 9 ETFs were making minimal purchases? It seems that adoption of Bitcoin is on the rise, with influential individuals becoming increasingly aware of its potential. With just a few billionaires entering the market, the supply of Bitcoin could rapidly decrease. Already, the daily mined supply of Bitcoin is being bought up multiple times over, particularly by Spot Bitcoin ETFs. When considering factors like the impending halving in April and notable investors like "Mr 100," a supply shock seems imminent. In terms of Bitcoin's next move, examining the short-term hourly chart reveals a potential bearish pattern forming, with the price hovering around support at $69,450. However, there's a possibility of an upside breakout if the price remains within the larger triangle and doesn't drop below $68,000. Zooming out to the 4-hour timeframe, Bitcoin appears to be forming a bullish inverse head and shoulders pattern, with the neckline breached upwards.
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#write2earn Legal Troubles for #KuCoin : Understanding the Charges and Implications #KuCoinSettlement U.S. federal prosecutors accused KuCoin, a cryptocurrency exchange, and two of its founders of breaking anti-money laundering laws. They claimed KuCoin operated within the U.S., misled at least one investor about operating in the U.S., and failed to register with U.S. government bodies or maintain an anti-money laundering program. According to the U.S. Department of Justice, KuCoin and its founders, Chun Gan and Ke Tang, ran KuCoin as a money-transmitting business with over 30 million customers but only implemented a know-your-customer (KYC) or anti-money laundering (AML) program in 2023, which didn't cover existing customers. The indictment stated that KuCoin didn't register with the U.S. Financial Crimes Enforcement Network as a money services business. Because KuCoin lacked KYC or AML programs, it was susceptible to being used for laundering proceeds from suspicious and criminal activities, including sanctions violations, darknet markets, and various schemes involving malware, ransomware, and fraud. The indictment also highlighted allegations that KuCoin indirectly received over $3.2 million worth of cryptocurrency from Tornado Cash, a sanctioned crypto mixer. KuCoin was mentioned in criminal cases against two developers of Tornado Cash, Alexey Pertsev and Roman Storm. The Commodity Futures Trading Commission (CFTC) also filed a lawsuit against KuCoin, alleging failure to register as a futures commission merchant, swap execution facility, or designated contract market, and failure to implement the CFTC's equivalent of a KYC program. Homeland Security Investigations Special Agent in Charge Darren McCormack described KuCoin as an "alleged multibillion-dollar criminal conspiracy," emphasizing its status as one of the largest crypto exchanges. U.S. Attorney Damien Williams accused KuCoin of actively concealing the fact that a significant number of U.S. users were trading on its platform.
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#write2earn #FLOKI🔥 CRYPTOCURRENCY: EXCITING UPDATES AND RECORD TOKEN BURNS #MEME🔥🔥 #memecoinseason #valhalla $Floki , a beloved cryptocurrency, has exciting updates in store, including the forthcoming launch of the Valhalla mobile app and significant token burns driven by heightened utility demand. In response to user clamor, Floki plans to roll out a mobile app version of its flagship utility metaverse game, Valhalla, later this year, catering to both iOS and Android users. This expansion aims to widen Valhalla's reach to potentially billions of new users worldwide, aligning with Floki's aspiration to become the most prominent and utilized cryptocurrency globally. Valhalla, already creating waves on the opBNB testnet, has gained immense popularity, ranking as the world's top metaverse cryptocurrency on CoinMarketCap. Its mainnet release is slated for later this year, further solidifying its presence in the crypto gaming sphere. Simultaneously, Floki maintains its stronghold on social media trends, currently trending alongside other notable cryptocurrencies like Luna and Polkadot. This surge in community-driven momentum mirrors the growing excitement surrounding Floki's ecosystem. Furthermore, Floki celebrates remarkable token burns, with over $404,800 worth of FLOKI tokens incinerated in the past week alone due to robust utility demand. These burns, fueled by the Floki Staking program and the FlokiFi Locker DeFi protocol, contribute to Floki's perpetual deflationary nature, setting it apart from other meme coins like Dogecoin and Shiba Inu. Floki's focus on utility-driven fundamentals distinguishes it in the meme coin arena, positioning it for sustained growth and dominance. The recent surge indicates promising prospects, with expectations of ongoing burns amid the current bull run. As Floki bolsters its utility ecosystem and reaffirms its commitment to innovation, investors and enthusiasts eagerly await further developments and advancements in the Floki project.
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#write2earn Crypto Market Thrives as #BlackRock 's Entry Boosts Sentiment #bitcoin #CryptoNews🚀🔥 #marketanalysis. $BTC $eth The cryptocurrency market kicked off the Asia trading session on a positive note, with traders celebrating BlackRock's move into asset tokenization and the start of central banks worldwide easing monetary policies. Bitcoin ( $BTC ), the biggest digital currency, was trading at $67,300, marking a 4.9% increase over the past 24 hours, while ether saw a 4.7% rise, reaching above $3,400. Bradley Park, an analyst at CryptoQuant, believes the market's uptrend is linked to BlackRock's introduction of a fund targeting tokenized products on Ethereum, known as BUIDL. Short sellers who bet against bitcoin and ether are feeling the pinch, with data from CoinGlass indicating that over $100 million in leveraged futures positions have been wiped out in the past day alone. This includes approximately $60 million in short BTC positions and $42.8 million in short ether positions. Meanwhile, BTC's upward movement may be attributed to a slowdown in selling pressure from the Grayscale Bitcoin Trust (GBTC). Analysts speculate that Genesis' sale of shares could be a contributing factor to the decrease in GBTC outflow. On a broader scale, macroeconomic factors are aligning in favor of bullish sentiments. The Swiss National Bank's unexpected decision to cut the benchmark interest rate last week initiated a wave of global monetary easing. This was followed by rate cuts from the Central Bank of Mexico, while the Federal Reserve, the European Central Bank, and the Bank of England have all laid the groundwork for forthcoming liquidity injections. "Although a market correction appears overdue, the medium-term outlook seems optimistic for assets like equities, residential real estate, gold, and bitcoin," remarked the founder and manager of the Blokland Smart Multi-Asset Fund, reflecting on the onset of the global easing cycle. "It's no wonder that equities and gold have already reached fresh all-time highs," they added."
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#write2earn #Bitcoin ETFs Facing Outflows Amid Crypto Market Volatility #bitcoinBloddBath #BTC #bitcoinETF $BTC Spot bitcoin ETFs listed on U.S. exchanges are gearing up for their first week of experiencing more money flowing out than in since late January. Crypto markets remained highly volatile on Friday, with bitcoin (BTC) dropping below $63,000 at one point after hovering around $67,000 just hours earlier. Though it has seen a slight recovery, the current price sits at $64,000, marking a 3.7% decrease over the past day. This sell-off had a ripple effect across the market, with Solana's token (SOL) taking a particularly hard hit, declining by more than 10% at one stage. Bitcoin's sharp decline from its recent all-time high above $73,000 over a week ago initiated a corrective phase for crypto assets. Despite a 10% rally on Wednesday following a dovish stance from the Federal Reserve, recent price movements suggest a slower recovery than anticipated. Mike Novogratz, CEO of Galaxy Digital, shared during a panel discussion at Bitcoin Investor Day in New York that reclaiming the $73,000 mark might take some time. The weak price performance coincides with four consecutive days of net outflows for U.S.-listed spot bitcoin ETFs. While most funds are still seeing inflows, they haven't been enough to offset significant outflows from the Grayscale Bitcoin Trust (GBTC). On Thursday alone, GBTC witnessed $359 million flowing out, contributing to $94 million in outflows for the entire fund group. Fidelity's Wise Origin Bitcoin Fund (FBTC) experienced its lowest daily inflow on record. This week, spot ETFs have seen over $830 million in outflows, marking their second negative week since late January when BTC corrected to $39,000. Analysts at Coinbase Institutional suggested that the increased selling of GBTC shares could be partly due to Genesis selling shares as part of its bankruptcy process.
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