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Bitcoin Boom! New ETFs Gobble Up Crypto as Wall Street Gets Hungry
Hold onto your hats, folks, because the Bitcoin bonanza just got a whole lot bigger! In just six days, brand new Bitcoin ETFs have gobbled up a whopping 95,000 Bitcoins, worth almost $4 billion! That's like Wall Street suddenly developing a taste for digital gold and stuffing their pockets with it.
What's the Deal?
These aren't your average Joe's buying Bitcoins anymore. These are big-time financial institutions like BlackRock and Fidelity, setting up special funds that let even regular investors own Bitcoin without the hassle of directly buying or storing it themselves. Think of it like buying gold through a fancy stockbroker instead of digging for nuggets in your backyard.
Impact Alert:
This Bitcoin buying spree isn't just good news for the price – it's a sign that Wall Street is taking crypto seriously. With major players putting their weight behind Bitcoin, expect more stability, legitimacy, and maybe even easier ways to invest in the future.
But Hold Your Horses:
Remember, crypto is still the wild west of finance. Prices can swing like a saloon door in a tornado, so invest responsibly and only with what you can afford to lose. Diversify your portfolio, do your research, and don't let the gold rush cloud your judgment.
The Takeaway:
The Bitcoin saga just took a thrilling turn. With Wall Street joining the party, the future looks bright for the digital currency. Just keep your cool head, invest wisely, and enjoy the ride!#BTC #EFT
$BTC
Hold onto your hats, folks, because the Bitcoin bonanza just got a whole lot bigger! In just six days, brand new Bitcoin ETFs have gobbled up a whopping 95,000 Bitcoins, worth almost $4 billion! That's like Wall Street suddenly developing a taste for digital gold and stuffing their pockets with it.
What's the Deal?
These aren't your average Joe's buying Bitcoins anymore. These are big-time financial institutions like BlackRock and Fidelity, setting up special funds that let even regular investors own Bitcoin without the hassle of directly buying or storing it themselves. Think of it like buying gold through a fancy stockbroker instead of digging for nuggets in your backyard.
Impact Alert:
This Bitcoin buying spree isn't just good news for the price – it's a sign that Wall Street is taking crypto seriously. With major players putting their weight behind Bitcoin, expect more stability, legitimacy, and maybe even easier ways to invest in the future.
But Hold Your Horses:
Remember, crypto is still the wild west of finance. Prices can swing like a saloon door in a tornado, so invest responsibly and only with what you can afford to lose. Diversify your portfolio, do your research, and don't let the gold rush cloud your judgment.
The Takeaway:
The Bitcoin saga just took a thrilling turn. With Wall Street joining the party, the future looks bright for the digital currency. Just keep your cool head, invest wisely, and enjoy the ride!#BTC #EFT
$BTC
The Bitcoin ETFs couldn't handle such a massive influx of money anymore, just like I mentioned last week. They had to adapt! CoinShares reported that for the second consecutive day, net flows for Bitcoin spot ETFs were negative. This could be attributed to increased outflows from Grayscale and decreased demand for new US ETFs.
Traditional investors (think of those in the movie "The Wolf of Wall Street") don't fully trust the cryptocurrency market. Those who got into ETFs were aware of the volatility, but as soon as they saw even a small correction, they felt the adrenaline rush!
Plus, in my opinion, regulated markets will never let ETFs become too attractive, as they could take away interest from other company stocks.
It's all a play on words, isn't it? If you find this world hard to grasp, you should follow the right people so we can lend you a hand ;-)
Facts, not just words! I'll leave you with a screenshot with the data so you can verify the information (in case you have any doubts about what I'm saying).
❤️ If you found this information helpful, please take a moment to show some love by giving a thumbs up. Your generosity enables me to continue delivering quality content.
#TrendingTopic #EFT
Traditional investors (think of those in the movie "The Wolf of Wall Street") don't fully trust the cryptocurrency market. Those who got into ETFs were aware of the volatility, but as soon as they saw even a small correction, they felt the adrenaline rush!
Plus, in my opinion, regulated markets will never let ETFs become too attractive, as they could take away interest from other company stocks.
It's all a play on words, isn't it? If you find this world hard to grasp, you should follow the right people so we can lend you a hand ;-)
Facts, not just words! I'll leave you with a screenshot with the data so you can verify the information (in case you have any doubts about what I'm saying).
❤️ If you found this information helpful, please take a moment to show some love by giving a thumbs up. Your generosity enables me to continue delivering quality content.
#TrendingTopic #EFT
#HotTrends
MY SHARE OF INSIGHT ON A ETHEREUM EFT APPROVAL #EFT
The likelihood of an Ethereum ETF approval by May has significantly decreased, with analysts now setting the probability at around 30-35%
. This shift in perspective is due to a lack of activity among relevant parties, particularly the SEC, despite recent discussions between Coinbase, Grayscale, and the SEC regarding the potential conversion of Grayscale’s Ethereum Trust into an ETF
. The absence of clear progress has led to growing skepticism about the regulatory green light for Ethereum ETFs, contrasting the more optimistic stance held previously
.
While some industry observers like Variant Fund’s Chief Legal Officer remain cautiously optimistic about clearer signals from the SEC in the upcoming weeks, major investment banks such as JPMorgan and TD Cowen project an unlikely approval by May
. Despite these lowered expectations, there is still a belief that an ETH ETF could be approved sometime this year, even if not in May
MY SHARE OF INSIGHT ON A ETHEREUM EFT APPROVAL #EFT
The likelihood of an Ethereum ETF approval by May has significantly decreased, with analysts now setting the probability at around 30-35%
. This shift in perspective is due to a lack of activity among relevant parties, particularly the SEC, despite recent discussions between Coinbase, Grayscale, and the SEC regarding the potential conversion of Grayscale’s Ethereum Trust into an ETF
. The absence of clear progress has led to growing skepticism about the regulatory green light for Ethereum ETFs, contrasting the more optimistic stance held previously
.
While some industry observers like Variant Fund’s Chief Legal Officer remain cautiously optimistic about clearer signals from the SEC in the upcoming weeks, major investment banks such as JPMorgan and TD Cowen project an unlikely approval by May
. Despite these lowered expectations, there is still a belief that an ETH ETF could be approved sometime this year, even if not in May
Coinbase's Massive $7 Billion Bitcoin Sale Raises Concerns Amid ETF Surge
The exchange's massive OTC transaction sparks market concerns amid ETF trading debut.
Bitcoin's -6.55% one-day drop prompts questions about Coinbase's Bitcoin reserves and potential market impact.
With Coinbase as custodian for 8 of 11 major ETFs, its actions may reverberate throughout the market.
In a surprising turn of events, Coinbase, the leading cryptocurrency exchange, reportedly executed a staggering $7 billion worth of Bitcoin (BTC) sales through over-the-counter (OTC) channels on the first day of Exchange-Traded Fund (ETF) trading. Since Coinbase is one of the 8 custodians out of 11 major ETFs, its move has sparked discussions about the exchange’s Bitcoin reserves.
In a recent tweet, crypto analyst Lark Davis reveals Coinbase's staggering $7B Bitcoin sale on ETF trading's first day. Custodian concerns arise:
On the other side of the spectrum, blockchain data analyst Ki Young Ju sheds light on the significant outflows from Grayscale wallets. It had sent 21.4k $BTC to various addresses, including Coinbase, in the previous 30 days. The sell-off, coinciding with a -6.55% dip in Bitcoin's value to 43k level, has ignited discussions about Coinbase's ability to sustain such high trading volumes. With Bitcoin's market cap also experiencing a -6.44% decline to $845,139,262,305, investors are closely monitoring the potential impact on the cryptocurrency giant's reserves and market dynamics.
#EFT #BTC
The exchange's massive OTC transaction sparks market concerns amid ETF trading debut.
Bitcoin's -6.55% one-day drop prompts questions about Coinbase's Bitcoin reserves and potential market impact.
With Coinbase as custodian for 8 of 11 major ETFs, its actions may reverberate throughout the market.
In a surprising turn of events, Coinbase, the leading cryptocurrency exchange, reportedly executed a staggering $7 billion worth of Bitcoin (BTC) sales through over-the-counter (OTC) channels on the first day of Exchange-Traded Fund (ETF) trading. Since Coinbase is one of the 8 custodians out of 11 major ETFs, its move has sparked discussions about the exchange’s Bitcoin reserves.
In a recent tweet, crypto analyst Lark Davis reveals Coinbase's staggering $7B Bitcoin sale on ETF trading's first day. Custodian concerns arise:
On the other side of the spectrum, blockchain data analyst Ki Young Ju sheds light on the significant outflows from Grayscale wallets. It had sent 21.4k $BTC to various addresses, including Coinbase, in the previous 30 days. The sell-off, coinciding with a -6.55% dip in Bitcoin's value to 43k level, has ignited discussions about Coinbase's ability to sustain such high trading volumes. With Bitcoin's market cap also experiencing a -6.44% decline to $845,139,262,305, investors are closely monitoring the potential impact on the cryptocurrency giant's reserves and market dynamics.
#EFT #BTC
🇺🇸 Fidelity met with the SEC yesterday and shared details of their #Bitcoin ETF design for 'in-kind' creations.
It's happening... 👀 #BTC #EFT #CryptoMoj $JTO $INJ
It's happening... 👀 #BTC #EFT #CryptoMoj $JTO $INJ
BlackRock's commitment to making a Bitcoin
ETF approval a top corporate priority marks a
significant moment in the intersection of
traditional finance and cryptocurrency.
A unique requirement that creates nuance for approval is that the Securities and Exchange Commission (SEC) requires ETF applicants to use cash rather than acquire shares, which eliminates the tax benefits associated with "in-kind" purchases #EFT #COQ #sec罚款 @crypto_MOJ news $BTC $BNB
ETF approval a top corporate priority marks a
significant moment in the intersection of
traditional finance and cryptocurrency.
A unique requirement that creates nuance for approval is that the Securities and Exchange Commission (SEC) requires ETF applicants to use cash rather than acquire shares, which eliminates the tax benefits associated with "in-kind" purchases #EFT #COQ #sec罚款 @crypto_MOJ news $BTC $BNB
EFT 📣 What Will The Metaverse Look Like in the Future?
Top Stories ❗
Bitcoin (BTC) has dropped over 15% to around $41,300 since the first U.S. spot BTC ETFs listed last week, with $1.5 billion flowing out of the Grayscale Bitcoin Trust (GBTC), according to JPMorgan. “It looks like GBTC investors who over the past year had been buying the GBTC fund at a significant discount to NAV to position for its eventual ETF conversion, have been taking full profit post-ETF conversion by exiting the bitcoin space entirely rather than shifting to cheaper spot bitcoin ETFs,” analysts wrote. JPMorgan previously estimated that up to $3 billion had been invested in GBTC in the secondary market during 2023 to exploit the trust’s discount to NAV. If this estimate is correct, there could be an additional $1.5 billion to exit the space via profit-taking on GBTC, which will put further pressure on bitcoin prices in the coming weeks.
#BTC #Sei #Launchpool #EFT
Top Stories ❗
Bitcoin (BTC) has dropped over 15% to around $41,300 since the first U.S. spot BTC ETFs listed last week, with $1.5 billion flowing out of the Grayscale Bitcoin Trust (GBTC), according to JPMorgan. “It looks like GBTC investors who over the past year had been buying the GBTC fund at a significant discount to NAV to position for its eventual ETF conversion, have been taking full profit post-ETF conversion by exiting the bitcoin space entirely rather than shifting to cheaper spot bitcoin ETFs,” analysts wrote. JPMorgan previously estimated that up to $3 billion had been invested in GBTC in the secondary market during 2023 to exploit the trust’s discount to NAV. If this estimate is correct, there could be an additional $1.5 billion to exit the space via profit-taking on GBTC, which will put further pressure on bitcoin prices in the coming weeks.
#BTC #Sei #Launchpool #EFT
JUST IN: 🇺🇸 SEC holds another meeting with BlackRock to discuss its Spot #Bitcoin… n ETF.#BTC #INJ #EFT $SOL @crypto_MOJ news
حجم انباشته معاملات ای تی اف های اسپات بیت کوین از ۳۰ میلیارد دلار فراتر رفت.
#cryptonewstoday
#EFT
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#sanor016CommUNITY
#cryptonewstoday
#EFT
#sanor016CommUNITY
#sanor016CommUNITY
