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."

According to BlockBeats, on December 2, market sources revealed that global ETF provider WisdomTree has submitted an S-1 registration document to the United States Securities and Exchange Commission (SEC) for an XRP Exchange-Traded Fund (ETF). This move marks a significant step in the financial sector as WisdomTree seeks to expand its offerings in the cryptocurrency market.The filing of the S-1 registration is a crucial step in the process of launching an ETF, as it provides detailed information about the fund's structure, investment strategy, and potential risks to the SEC. 

According to BlockBeats, on December 2, four asset management companies have submitted applications to U.S. regulators to create Bitcoin exchange-traded funds (ETFs) that utilize derivatives to minimize or entirely prevent potential losses. This move comes as Bitcoin has experienced a significant surge this year, prompting interest from investors who may have previously hesitated due to the cryptocurrency's volatility.

Todd Rosenbluth, Head of Research at consulting firm TMX VettaFi, noted that many investors might regret missing out on Bitcoin's rapid rise due to concerns over its volatility. The introduction of these downside protection ETFs is expected to allow more individuals to incorporate Bitcoin exposure into their portfolios in a risk-conscious manner.

Specifically, Calamos Investments has applied for four managed floor ETFs. First Trust Portfolios has submitted applications for a 15% floor ETF and a buffer ETF designed to protect against the first 30% of any losses. Innovator ETFs is seeking approval for a 10% buffer product that will operate over a three-month period. Additionally, Innovator ETFs has applied for a 20% three-month managed floor ETF with a set 'participation rate.'

Furthermore, Grayscale Investments plans to launch a covered call Bitcoin ETF, which will involve selling call options on a spot Bitcoin ETF. While this strategy may reduce potential gains from price increases in Bitcoin, it is designed to provide regular premium income.

According to Odaily, Nate Geraci, President of The ETF Store, recently shared on X that three ETF applications have been submitted to hold XRP, the third-largest cryptocurrency by market capitalization. The applications have been filed by Bitwise, Canary, and 21Shares, indicating a growing interest in XRP-based financial products. Geraci speculates that other issuers may also enter the fray, potentially increasing the number of XRP ETF offerings in the market. 

Monthly trading volume in November for three Hong Kong Bitcoin spot ETFs surged to $154 million in November, setting a new record-high on the Hong Kong Stock Exchange.

According to data from the Hong Kong Stock Exchange, the total monthly trading volume for three Bitcoin spot ETFs in Hong Kong has reached around HKD 1.2 billion in November or equal to $154 million, setting a new monthly trading volume record.

The three main Hong Kong Bitcoin(BTC) spot ETFs contributing towards this record-high streak are ChinaAMC Bitcoin ETF, Bosera Hashkey Bitcoin ETF, and Harvest Bitcoin Spot ETF. This milestone is particularly groundbreaking, considering Hong Kong has only just launched Bitcoin ETFs in early May 2024.

Last month, the monthly trading volume from ChinaAMC and Harvest International alone contributed to around 88% of the total trading fund, which was around HKD 1.06 billion ($136 million).

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Based on the latest data from the site, the biggest contributor of trading volume today is ChinaAMC Bitcoin ETF, the Bitcoin ETF launched under Huaxia Fund, has seen a total trading volume of 2.02 million shares on Dec. 2. The Bitcoin ETF shares are currently trading at HKD 11.89.

Harvest Bitcoin Spot ETF comes in second with a trading volume of 162,500 shares today, each valued at HKD 11.96.

Meanwhile, Bosera Hashkey Bitcoin ETF has seen a total volume of 64,680 shares today. At the time of writing, shares issued by Bosera Asset Management are currently trading hands at HKD 74.58.

Though, daily trading volume for Hong Kong Bitcoin spot ETFs are still far behind U.S-based Bitcoin ETFs such as iShares Bitcoin Trust ETF and Grayscale Bitcoin Trust ETF, which have accumulated average volumes of 40 million shares and 3.8 million shares respectively.

The Hong Kong government approved of launching Bitcoin spot ETFs on the market in April after more than a year of concerted efforts by Hong Kong to establish itself as a tightly regulated center for the virtual asset industry.

On May 6, exchange-traded funds in Hong Kong recorded the first cumulative outflow of funds.

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The post WisdomTree officially files S-1 for its spot XRP ETF.  appeared first on Coinpedia Fintech News

On December 2, New York-based asset manager WisdomTree filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to launch a spot XRP exchange-traded fund (ETF). This move aligns WisdomTree with firms like Bitwise and Canary Capital, which are also pursuing XRP ETFs. WisdomTree joins the ranks of Bitwise and Canary Capital, which have also been actively pursuing spot XRP ETFs. The announcement had an immediate market impact, with XRP prices surging nearly 28% in a single day to trade at $2.34.

Coinspeaker Crypto ETFs Attract Record Inflows in November as Market Rises

The crypto market has been buzzing with renewed enthusiasm as it reached a $3 trillion market cap in mid-November. It sparked unprecedented inflows into Bitcoin and Ether exchange-traded funds (ETFs). This surge has been buoyed by rising optimism among institutional investors, further fueled by Donald Trump’s election victory, which many believe signals a more crypto-friendly era in the United States.

Bitcoin and Ether ETFs Attract Record Inflows

November 2024 proved to be a landmark month for crypto ETFs, with Bitcoin ETFs witnessing an astounding $6.5 billion in net inflows and Ether ETFs pulling in $1.1 billion. These figures represent all-time highs for both assets, highlighting the bullish sentiment that has taken over the market.

Leading the Ether ETF charge are industry giants BlackRock and Fidelity. BlackRock’s ETHA alone has amassed a staggering $2.10 billion in cumulative inflows. Data reveals that Ether ETFs recorded $466 million in inflows during the last week of November, marking a major reversal from the $71.6 million outflow seen the week prior. This surge coincides with a 48% rise in Ether’s price ETH $3 588 24h volatility: 2.7% Market cap: $432.14 B Vol. 24h: $39.22 B over the same period, pushing it to an average trading price of $3,616 at the time of writing.

Bitcoin ETFs, launched earlier this year, have accumulated $30.7 billion in net inflows, while Ether ETFs, which debuted in late July, have garnered $573.3 million to date. The growing appetite for these financial products reflects a shifting market dynamic, with investors increasingly looking to digital assets as an alternative to traditional investment vehicles.

Altcoins Gain Momentum

The broader crypto market has also seen a remarkable transformation. While Bitcoin BTC $95 189 24h volatility: 1.9% Market cap: $1.88 T Vol. 24h: $72.08 B hit a new all-time high of $99,655 in November, it narrowly missed crossing the psychological $100,000 barrier.

Meanwhile, Ether has outperformed Bitcoin since the US election, although it remains below its all-time high of $4,891, set three years ago. Notably, Bitcoin’s market dominance has slipped from 60% to 56%, hinting at the onset of an altcoin season driven by shifting market sentiment.

Among the altcoins, XRP XRP $2.28 24h volatility: 19.0% Market cap: $129.83 B Vol. 24h: $37.37 B has made headlines by reclaiming its position as the third-largest cryptocurrency by market capitalization, surpassing both Solana SOL $224.4 24h volatility: 5.2% Market cap: $106.62 B Vol. 24h: $7.65 B and Tether USDT $1.00 24h volatility: 0.0% Market cap: $134.20 B Vol. 24h: $132.56 B . This resurgence comes amid optimism that the SEC may drop its ongoing appeal against Ripple in their long-standing legal battle.

Meanwhile, the ETF space is expanding beyond Bitcoin and Ether. Asset management heavyweights like Canary Capital and Bitwise are reportedly preparing to launch XRP-focused ETFs, signaling a growing interest in diversifying crypto investment options.

As the crypto market continues to evolve, the convergence of institutional interest, regulatory optimism, and technological innovation could further solidify digital assets’ position in global finance.

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Crypto ETFs Attract Record Inflows in November as Market Rises

United States investors poured over $6.4 billion into spot Bitcoin exchange-traded funds (ETFs) in November as the BTC market price rallied 45% above the $99,000 level for the first time in history.

A month-long bull run in November resulted in Bitcoin (BTC) prices shooting up from roughly $68,000 to $99,000. Amid bullish sentiments, spot BTC ETFs raked in a combined $6.87 billion, with outflows of $411 million during the month. 

According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust ETF (IBIT) brought in $5.6 billion of investments in November, accounting for almost 87% of the total monthly inflows. 

Total investment inflow and outflow of the US spot Bitcoin ETF market. Source: Farside Investors

Investors showcase confidence in Bitcoin price

Other prominent players that attracted significant investments include Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $962 million, Grayscale’s Bitcoin Mini Trust ETF (BTC) at $211.5 million and the VanEck Bitcoin ETF (HODL) at $71.2 million.

Continued inflow of funds from institutions and private investors amid high BTC market prices is expected to support the ongoing bull run. Traders and analysts have predicted “insane long opportunities” for Bitcoin in the coming months, suggesting BTC has entered a price discovery phase.

On the other hand, three players contributed to the $411 million in monthly outflows. The Grayscale Bitcoin Trust ETF (GBTC), Bitwise Bitcoin ETF (BITB) and Valkyrie Bitcoin Fund (BRRR) recorded outflows of $364 million, $40.4 million and $6.8 million, respectively.

The Crypto Fear & Greed Index, an analysis of investor sentiment maintained by Alternative.me, also projected a strong bullish sentiment in November.

A one-year plot of the Fear & Greed Index. Source: Alternative.me

Bullish investment sentiment across November

On Nov. 22, the Crypto Fear & Greed Index marked its yearly all-time high at 92, signaling solid bullish sentiment among investors.

Stepping into December, the index score dipped but continues to portray extremely positive sentiment. Data from Cointelegraph Markets Pro and TradingView show that BTC eased into trading sideways at $96,000 in December.

Bitcoin market price for November 2024. Source: TradingView

Read Cointelegraph’s guide to learn more about analyzing the Crypto Fear & Greed Index to build effective investment strategies.

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Demand for cryptocurrency exchange-traded funds (ETFs) linked to Bitcoin (BTC) and Ether (ETH) has surged to historic levels, reflecting growing interest in digital assets. 

This sharp rise follows President-elect Donald Trump’s stated pro-crypto policies, which have fueled optimism among investors. Bitcoin ETFs recorded an inflow of $6.5 billion in November 2024, while Ether ETFs attracted $1.1 billion, setting new benchmarks for these financial instruments.

Bitcoin ETF inflows surge as market cap climbs

The rising inflows into Bitcoin ETFs highlight renewed confidence in the digital asset market. Bitcoin ETFs saw $6.5 billion in net inflows in November, driven by strong institutional interest and positive sentiment surrounding the upcoming administration’s plans for the crypto sector. The broader cryptocurrency market cap rose slightly, reaching $3.43 trillion, with 24-hour trading volume spiking 18% to $181 billion.

Bitcoin’s price surged but remained shy of the $100,000 mark in November. It is currently trading at an average price of $96,892. Despite this, analysts note that Bitcoin balances on exchanges steadily decline, suggesting sustained buying pressure. Observers say the limited supply on platforms like Bitfinex, Binance, and Coinbase could further drive prices higher as demand grows.

Ether ETFs gain momentum amid strong price performance

Ether ETFs have also gained significant traction, pulling in $1.1 billion in November and setting a new record for the asset. Last week alone, these ETFs saw $466 million in inflows, a notable reversal from the previous week’s outflows of $71.6 million. Leading asset management firms such as BlackRock and Fidelity have contributed significantly to these inflows, with BlackRock’s ETHA ETF attracting $2.1 billion.

Ether’s price has risen by 48% in the past week, reaching an average price of $3,691. Although it has yet to surpass its all-time high, Ether’s outperformance relative to Bitcoin since Trump’s election signals increasing interest in altcoins.

XRP gains amid regulatory optimism

XRP, the cryptocurrency associated with Ripple, has emerged as a standout performer. It has soared 376% over the past month, fueled by hopes of a potential regulatory breakthrough under the new administration. Ripple’s native token is now the third-largest cryptocurrency, with a market capitalization exceeding $140 billion. XRP is trading at an average price of $2.44, and firms are reportedly exploring XRP-focused ETFs.

The crypto market has surged $1.2 trillion since Trump’s victory, signalling renewed enthusiasm for digital assets. With Bitcoin dominance dropping to 56%, the rise in Ether and XRP suggests a shift toward broader altcoin adoption, potentially marking the start of a new phase for the crypto market.

The post Crypto ETFs Reach Record Highs With $6.5 Billion for Bitcoin and $1.1 Billion for Ether first appeared on Coinfea.

Asset managers are turning to new derivatives-based Bitcoin ETFs to help cautious investors navigate the crypto’s notorious price swings.

U.S. asset managers have filed plans with regulators to launch Bitcoin (BTC) exchange-traded funds that use derivatives to eliminate or at least minimize potential losses in an effort to attract cautious investors seeking exposure to the crypto market with reduced risk.

According to a Financial Times report on Monday, Dec. 2, the proposals include a range of “buffered” and “managed floor” strategies, which reduce risks by protecting investors from big losses but limit how much profit they can make.

Calamos Investments, First Trust Portfolios, Innovator ETFs, and Grayscale Investments are among the firms seeking the green light from the U.S. Securities and Exchange Commission, the report reads. Each firm plans to offer products using buffered or managed floor strategies to protect against losses of up to 30%, while some also propose covered call ETFs or leveraged variations.

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Todd Rosenbluth, head of research at TMX VettaFi, says the move is likely tied to the desire of many investors to join the market “given the meteoric rise in Bitcoin this year,” adding that downside protection ETFs “will allow more people to add Bitcoin exposure to their portfolios in a risk-aware manner.”

The new products could launch as early as February if approved by the SEC, though position limits on options contracts could pose challenges for the funds, particularly if demand exceeds current capacity, the report adds.

The filings follow a significant shift in the ETF market as Ethereum (ETH) spot ETFs recently recorded a $332.92 million single-day inflow, surpassing Bitcoin ETFs for the first time. Ethereum also gained over 3% during the period, while Bitcoin’s price saw minimal change.

Read more: QCP Capital: Ethereum eyes 35% rally as spot ETF inflows hit $90m

The post Spot ETFs: $135.1M Outflows for BTC, $466.5M Inflows for ETH appeared first on Coinpedia Fintech News

Between November 25 and 29, Bitcoin spot ETFs saw outflows of $135.1M, while Ethereum spot ETFs recorded inflows of $466.5M, showcasing diverging investor sentiment. On November 29, ETH ETFs posted their largest single-day inflow of $332.9M, surpassing the previous record of $295M set on November 11. Ethereum ETFs enjoyed consistent weekly inflows, whereas Bitcoin ETFs experienced outflows on two of the four trading days. BlackRock (IBIT) was the top buyer among the 11 BTC ETFs, adding 4,230 BTC ($405.3M). Its holdings now total 496,853 BTC, valued at $47.83B. 

TLDR

Bitcoin surged 37-39% in November 2024, reaching nearly $100,000

Historical data shows December gains of 30-46% in election years

Exchange reserves are dropping rapidly while ETF inflows exceed $31 billion

Analysts predict potential price targets between $115,000-$141,000 by year-end

Long-term holders remain steady, contributing to supply constraints

Bitcoin’s price surged to $96,922 in early December trading, marking a continuation of November’s strong performance that saw a 37.3% increase. The cryptocurrency’s total market value now stands at $1.918 trillion, according to recent market data.

The upward momentum follows a pattern seen in previous election years, where December has historically delivered gains between 30-46%. This trend has caught the attention of market analysts and investors alike, with several pointing to on-chain data supporting the potential for continued price appreciation.

Exchange reserves of Bitcoin have shown a marked decrease, indicating a possible supply shortage in the market. Data from 10x Research reveals that only three major exchanges – Bitfinex, Binance, and Coinbase – maintain substantial Bitcoin inventories. This development comes as institutional interest continues to grow through various investment vehicles.

The introduction of Bitcoin ETFs has played a crucial role in the current market dynamic. These investment products have attracted more than $31 billion in inflows since their launch, effectively removing a large portion of available Bitcoin from the open market. BlackRock’s traditional funds have also begun seeking exposure to spot Bitcoin ETFs, further expanding institutional participation.

Current market analysis shows that $30 billion in Bitcoin ETF inflows would secure approximately 300,000 BTC at present prices. This level of institutional buying pressure has led to what some analysts describe as a “supply vacuum” in the market.

Bitcoin’s recent price movement has demonstrated notable resilience. After reaching a low of $66,000, the cryptocurrency climbed to a new all-time high of $99,800 before experiencing a correction to $90,742. This volatility has created diverse perspectives among market observers regarding short-term price direction.

Bitcoin Price on CoinGecko

Technical indicators suggest sustained bullish momentum. The Bitcoin NVT Golden Cross has increased from -0.13 to 1.1, typically interpreted as a sign of long-term confidence in the asset’s growth trajectory. This metric indicates investors are valuing the network beyond current on-chain activity.

The MVRV long/short difference has also shown positive movement, suggesting that long-position holders remain confident despite being in profit. This metric often serves as an indicator of market participant behavior and sentiment.

Bitcoin’s stock-to-flow ratio has experienced a substantial increase, rising from 105 to 494. This metric measures the relationship between the existing supply and new production, with higher numbers typically indicating increased scarcity in the market.

Popular crypto analyst Ben Armstrong, known as BitBoy, has shared a notably optimistic view, suggesting Bitcoin could reach $100,000 within a 48-hour timeframe. He bases this prediction on analysis of Bitcoin’s perpetual futures data.

Looking at specific exchange dynamics, blockchain analytics platform Spot On Chain reports that their updated model projects potential price levels of $115,000 by December’s end, assuming a 30% gain from current levels. In a more bullish scenario, a 46% surge could push prices toward $141,000.

The declining exchange reserves situation has drawn particular attention from veteran Bitcoin analyst Willy Woo, who characterized the current market condition as “nothing short of a supply shock.” Woo noted the phenomenon of short-term traders selling their holdings into what he described as a “BTC vacuum cleaner.”

Long-term holders have maintained their positions, showing little inclination to sell despite the price appreciation. This behavior contrasts with the late summer period, which saw a temporary increase in exchange inventories.

Market data indicates that Bitcoin’s recent correction from its new all-time high has not altered the overall bullish market structure. The cryptocurrency continues to trade above key support levels established during the November rally.

Trading volumes across major exchanges have remained robust, with increased participation from both retail and institutional investors. This broad-based market activity suggests sustained interest across different types of market participants.

The last recorded price stands at $96,922, representing a 37.3% increase from November’s opening levels. The market continues to monitor exchange flows and institutional participation as key indicators for near-term price direction.

The post BTC Price Analysis: Bitcoin (BTC) Poised for Strong December Performance After 37% November Gain appeared first on Blockonomi.

The demand for US exchange-traded funds (ETFs) linked to the biggest digital assets like Bitcoin (BTC) and Ether (ETH) has reached unprecedented levels fueled by President-elect Trump’s pro-crypto stance. The bullish sentiment peaking can be directly seen in the rising Bitcoin price.

The cumulative digital assets market cap jumped marginally over the day to stand at $3.43 trillion. Its 24 hour trading volume spiked by 18% to hit the $181 billion mark. Analysts suggest that the Bitcoin balance of the crypto exchange is drying up amid high buying pressure.

Ether ETFs attracted $466M last week

According to reports, November 2024 saw Bitcoin ETFs attracting $6.5 billion in net inflows, while Ether ETFs garnered $1.1 billion. These figures represent all-time highs for both assets as crypto bulls took over after much anticipated Donald Trump’s US Presidential election win.

With a Bitcoin surge, a climbing interest in Ether signals a growing speculative appetite for crypto. On Nov 29, nine Ether ETFs recorded a $333 million net inflow, with major players like BlackRock and Fidelity leading the charge. BlackRock’s ETHA has seen a cumulative inflow of $2.10 billion of inflow till now.

Data provided by SosoValue shows that Ether ETFs pulled in over $466 million in the last week of November, while it saw an outflow of $71.60 million in the prior week. ETH price surged by 48% in the last 7 days. The biggest altcoin is trading at an average price of $3,691, at the press time.

Bitcoin approached $100K in November but couldn’t make it through. However,  Ether has outperformed Bitcoin since Trump’s election, though it has yet to hit new highs. BTC is trading at an average price of $96,892, at the press time.

At the moment, XRP is printing huge green indexes as investors anticipate a reversal of the SEC crackdown. Some firms are already looking to launch XRP-focused ETFs. Trump has vowed to overhaul regulatory approaches, remove restrictions, and build more crypto-friendly policies. XRP price is up by 376% in the last 30 days. Ripple’s native crypto is trading at an average price of $2.44, at the press time. It is now the 3rd biggest crypto asset with a market cap of over $140 billion.

Bitcoin balances on exchanges declining?

Markus Thielen suggested in a post that Bitcoin balances on exchanges are rapidly decreasing, with no large inflows replenishing inventory as seen earlier this year. Only three exchanges—Bitfinex, Binance, and Coinbase currently have sufficient Bitcoin inventory, he added.

Recent inflows into Bitcoin have been substantial which indicates that a bearish outlook is premature. Bitcoin is not only a topic at Thanksgiving dinners, but it’s also set to be a key discussion point during Christmas. He highlighted that the crypto market capitalization has now reached $3.43 trillion, with BTC’s dominance decreasing from 60% to 56%. This shift may signal the beginning of altcoin season, a phenomenon often driven by market sentiment.

Since Trump’s election, the crypto market has seen a $1.2 trillion surge. This rally, building on the momentum of pro-crypto policies, is revitalizing the sector after the 2021 downturn.

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As we come to the end of 2024, it’s important to acknowledge that although there have been some ups and downs this year, some great inroads have also been made such as the Bitcoin halving event (marking the start of the bull market), approval of spot Bitcoin and Ethereum ETFs, as well as the implementation […]

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