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The collective #BitcoinETF flows dipped in the red for the first time since their launch on Jan. 11. This is mainly due to the exits from the Grayscale #GBTC fund. The total flows since their launch is still in the green at between 17,000 - 20,000 #BTC .
$BTC
The collective #BitcoinETF flows dipped in the red for the first time since their launch on Jan. 11. This is mainly due to the exits from the Grayscale #GBTC fund. The total flows since their launch is still in the green at between 17,000 - 20,000 #BTC .
$BTC
#GBTC holdings fell 15% in the last 7 days.
If this trend continues, it is projected to reach zero by mid-March. What's their plan?
If this trend continues, it is projected to reach zero by mid-March. What's their plan?
Bitfinex Bitcoin longs rise to $3B â #BullishAF or #bearish?đ€đžđ”đ°đŻ
A startling number of Bitcoin margin longs recently opened at Bitfinex, but their muted impact on BTC price raises suspicion.
#Bitcoin investors have sought explanations for the lack of bullish momentum since the spot Bitcoin exchange-traded fund (ETF) initiated trading on Jan. 12. Multiple factors for the absence of bullish price action have been identified, but none are entirely conclusive. Meanwhile, leveraged long positions using BTC margin at Bitfinex have increased to a staggering $3 billion, prompting speculation that Bitcoin whales are preparing for a bull run.
#GBTC #ETFsApproval outflow and macroeconomic factors take the blame
Some analysts, including BitMEX founder Arthur Hayes, believe investors previously expected the U.S. Federal Reserve (Fed) to cut interest rates as soon as March, but recent inflationary events have greatly reduced those odds. Hayes thinks that by not renewing its Bank Term Funding Program (BTFP), the Fed will put U.S. regional banks to the test, draining liquidity from risk markets and negatively impacting assets like Bitcoin.
A startling number of Bitcoin margin longs recently opened at Bitfinex, but their muted impact on BTC price raises suspicion.
#Bitcoin investors have sought explanations for the lack of bullish momentum since the spot Bitcoin exchange-traded fund (ETF) initiated trading on Jan. 12. Multiple factors for the absence of bullish price action have been identified, but none are entirely conclusive. Meanwhile, leveraged long positions using BTC margin at Bitfinex have increased to a staggering $3 billion, prompting speculation that Bitcoin whales are preparing for a bull run.
#GBTC #ETFsApproval outflow and macroeconomic factors take the blame
Some analysts, including BitMEX founder Arthur Hayes, believe investors previously expected the U.S. Federal Reserve (Fed) to cut interest rates as soon as March, but recent inflationary events have greatly reduced those odds. Hayes thinks that by not renewing its Bank Term Funding Program (BTFP), the Fed will put U.S. regional banks to the test, draining liquidity from risk markets and negatively impacting assets like Bitcoin.
đš #BreakingNews: Grayscale Bitcoin Trust (GBTC) surges 220% this year, outpacing Nvidia's 198% rise. GBTC discount rate drops from 46% to 13%, with potential for further reduction if BTC spot ETF gets approval. SEC expected to approve BTC spot ETFs in early 2023, anticipating a BTC surge beyond $50,000 upon approval. đđ°đ #GBTC #CryptoInvestment đđą
#SaleOfTrustAssets.
On February 14, Judge Lane approved #Genesisâs #MotionAuthorizingSaleofTrustAssets (see February 9th update, below). Pursuant to the bankruptcy courtâs order approving the motion, Gemini is authorized to begin monetization of the Initial Collateral (30,905,782 shares of #GBTC ) it holds for the benefit of #Earn users (see February 2nd and January 26th updates, below). This is an important step that will facilitate in-kind distributions to Earn users (i.e., the return to Earn users of the specific digital assets they loaned rather than an equivalent value in dollars or an alternative #cryptocurrency ). Distributions cannot be made to any Genesis creditors, including Earn users, unless and until the Amended Plan is confirmed; Geminiâs monetization of the Initial Collateral in anticipation of the confirmation hearing will expedite in-kind distributions to Earn users if and when the Amended Plan is confirmed.
On February 14, Judge Lane approved #Genesisâs #MotionAuthorizingSaleofTrustAssets (see February 9th update, below). Pursuant to the bankruptcy courtâs order approving the motion, Gemini is authorized to begin monetization of the Initial Collateral (30,905,782 shares of #GBTC ) it holds for the benefit of #Earn users (see February 2nd and January 26th updates, below). This is an important step that will facilitate in-kind distributions to Earn users (i.e., the return to Earn users of the specific digital assets they loaned rather than an equivalent value in dollars or an alternative #cryptocurrency ). Distributions cannot be made to any Genesis creditors, including Earn users, unless and until the Amended Plan is confirmed; Geminiâs monetization of the Initial Collateral in anticipation of the confirmation hearing will expedite in-kind distributions to Earn users if and when the Amended Plan is confirmed.
Grayscale Bitcoin Trust (GBTC): What You Need to Know
The Grayscale Bitcoin Trust (GBTC) is a publicly traded investment trust that provides investors with exposure to the price of Bitcoin without having to purchase or store the cryptocurrency directly. GBTC is the oldest and largest Bitcoin investment trust in the world, and it is currently traded on the OTCQX Market.
GBTC was launched in September 2013 by Grayscale Investments, a digital asset investment firm. The trust is structured as a Delaware limited liability company, and it is registered with the Securities and Exchange Commission (SEC). GBTC's shares are backed by physical Bitcoin held in cold storage by Coinbase Custody.
GBTC is a popular investment vehicle for investors who want to gain exposure to Bitcoin without having to learn about the technical aspects of cryptocurrency or worry about storing it securely. However, it is important to note that GBTC is not a Bitcoin ETF. GBTC shares trade at a premium or discount to the net asset value (NAV) of the underlying Bitcoin, and this premium can fluctuate significantly.
How to Invest in GBTC
To invest in GBTC, investors can purchase shares on the OTCQX Market. The OTCQX Market is a trading platform for over-the-counter securities, and it is accessible to accredited investors and non-accredited investors alike.
To purchase GBTC shares, investors can open a brokerage account and place an order. Once the order is executed, the shares will be deposited into the investor's brokerage account.
Benefits of Investing in GBTC
There are several benefits to investing in GBTC:
Exposure to Bitcoin: GBTC provides investors with exposure to the price of Bitcoin without having to purchase or store the cryptocurrency directly.
Publicly traded: GBTC shares are publicly traded on the OTCQX Market, which makes them easy to buy and sell.
SEC registered: GBTC is registered with the SEC, which provides investors with a degree of protection.
Experienced management team: GBTC is managed by Grayscale Investments, a digital asset investment firm with a proven track record.
Risks of Investing in GBTC
There are also several risks associated with investing in GBTC:
Premium/discount: GBTC shares trade at a premium or discount to the NAV of the underlying Bitcoin, and this premium can fluctuate significantly.
Volatility: Bitcoin is a volatile asset, and the price of GBTC shares can fluctuate accordingly.
Liquidity: GBTC shares are traded on the OTCQX Market, which is less liquid than the New York Stock Exchange or Nasdaq.
Is GBTC Right for You?
GBTC is a suitable investment for investors who want to gain exposure to Bitcoin without having to learn about the technical aspects of cryptocurrency or worry about storing it securely. However, it is important to note that GBTC is not a Bitcoin ETF, and it is subject to the risks discussed above.
Investors should carefully consider their investment objectives and risk tolerance before investing in GBTC.
Conclusion
The Grayscale Bitcoin Trust is a popular investment vehicle for investors who want to gain exposure to Bitcoin without having to purchase or store the cryptocurrency directly. However, it is important to note that GBTC is not a Bitcoin ETF, and it is subject to several risks, including a premium/discount, volatility, and liquidity.
Investors should carefully consider their investment objectives and risk tolerance before investing in GBTC.
#GBTC
GBTC was launched in September 2013 by Grayscale Investments, a digital asset investment firm. The trust is structured as a Delaware limited liability company, and it is registered with the Securities and Exchange Commission (SEC). GBTC's shares are backed by physical Bitcoin held in cold storage by Coinbase Custody.
GBTC is a popular investment vehicle for investors who want to gain exposure to Bitcoin without having to learn about the technical aspects of cryptocurrency or worry about storing it securely. However, it is important to note that GBTC is not a Bitcoin ETF. GBTC shares trade at a premium or discount to the net asset value (NAV) of the underlying Bitcoin, and this premium can fluctuate significantly.
How to Invest in GBTC
To invest in GBTC, investors can purchase shares on the OTCQX Market. The OTCQX Market is a trading platform for over-the-counter securities, and it is accessible to accredited investors and non-accredited investors alike.
To purchase GBTC shares, investors can open a brokerage account and place an order. Once the order is executed, the shares will be deposited into the investor's brokerage account.
Benefits of Investing in GBTC
There are several benefits to investing in GBTC:
Exposure to Bitcoin: GBTC provides investors with exposure to the price of Bitcoin without having to purchase or store the cryptocurrency directly.
Publicly traded: GBTC shares are publicly traded on the OTCQX Market, which makes them easy to buy and sell.
SEC registered: GBTC is registered with the SEC, which provides investors with a degree of protection.
Experienced management team: GBTC is managed by Grayscale Investments, a digital asset investment firm with a proven track record.
Risks of Investing in GBTC
There are also several risks associated with investing in GBTC:
Premium/discount: GBTC shares trade at a premium or discount to the NAV of the underlying Bitcoin, and this premium can fluctuate significantly.
Volatility: Bitcoin is a volatile asset, and the price of GBTC shares can fluctuate accordingly.
Liquidity: GBTC shares are traded on the OTCQX Market, which is less liquid than the New York Stock Exchange or Nasdaq.
Is GBTC Right for You?
GBTC is a suitable investment for investors who want to gain exposure to Bitcoin without having to learn about the technical aspects of cryptocurrency or worry about storing it securely. However, it is important to note that GBTC is not a Bitcoin ETF, and it is subject to the risks discussed above.
Investors should carefully consider their investment objectives and risk tolerance before investing in GBTC.
Conclusion
The Grayscale Bitcoin Trust is a popular investment vehicle for investors who want to gain exposure to Bitcoin without having to purchase or store the cryptocurrency directly. However, it is important to note that GBTC is not a Bitcoin ETF, and it is subject to several risks, including a premium/discount, volatility, and liquidity.
Investors should carefully consider their investment objectives and risk tolerance before investing in GBTC.
#GBTC
đš Bitcoin in freefall! Price drops 14% amidst record GBTC outflows. Is this a sign of a crypto downturn?
#bitcoin #crypto #volatility #marketwatch #GBTC
#bitcoin #crypto #volatility #marketwatch #GBTC
đ #ArkInvest offloads 149,780 #COIN shares worth $24.2M from ETFs as Coinbase hits yearly highs.
đ In the last month, #Ark has sold over $200M in Coinbase stock.
đž Ark also sold 398,383 #GBTC shares for $14.3M.
đ In the last month, #Ark has sold over $200M in Coinbase stock.
đž Ark also sold 398,383 #GBTC shares for $14.3M.
Good news for Bitcoin enthusiasts! After 77 consecutive days of outflows, Grayscale's Bitcoin ETF (GBTC) has finally seen a reversal, with inflows resuming. This could signal a renewed interest in Bitcoin as an investment asset class.
#Bitcoin #GBTC #Grayscale #Cryptocurrency #altcoins
#Bitcoin #GBTC #Grayscale #Cryptocurrency #altcoins
đ Navigating GBTC's Transition
Recent shifts in Grayscale's GBTC dynamics post spot ETF approval are causing ripples in the BTC market. Here's a snapshot of the evolving scenario:
1. **GBTC's Redemption Strategy:**
- Pre-spot ETF approval, GBTC redeemed shares without selling BTC, cementing its status as a significant BTC holder.
2. **Post Spot ETF Approval:**
- Investors flocking away from GBTC post-spot ETF approval cite the high 1.5% yearly management fee as a deterrent.
- Those who purchased GBTC at a 40% discount are capitalizing on this opportunity by exiting positions as it approaches 0%, prompting GBTC to sell BTC.
3. **Settlement Timeline:**
- The transitional phase may take several weeks, resulting in BTC market movements ranging from sideways trends to potential decreases.
4. **Long-Term Outlook:**
- Patience is key amidst these market dynamics. As investors pivot away from GBTC, explore alternative ETFs with lower fees for safeguarding BTC investments.
5. **Investor Recommendations:**
- Stay informed, making strategic decisions aligned with market shifts.
- Explore ETFs with competitive management fees to protect your BTC holdings in the changing financial landscape.
Adapting to the evolving landscape ensures resilience in the face of dynamic market conditions. đđ #GBTC #BTCMarketInsights #CryptoInvesting
$BTC
Recent shifts in Grayscale's GBTC dynamics post spot ETF approval are causing ripples in the BTC market. Here's a snapshot of the evolving scenario:
1. **GBTC's Redemption Strategy:**
- Pre-spot ETF approval, GBTC redeemed shares without selling BTC, cementing its status as a significant BTC holder.
2. **Post Spot ETF Approval:**
- Investors flocking away from GBTC post-spot ETF approval cite the high 1.5% yearly management fee as a deterrent.
- Those who purchased GBTC at a 40% discount are capitalizing on this opportunity by exiting positions as it approaches 0%, prompting GBTC to sell BTC.
3. **Settlement Timeline:**
- The transitional phase may take several weeks, resulting in BTC market movements ranging from sideways trends to potential decreases.
4. **Long-Term Outlook:**
- Patience is key amidst these market dynamics. As investors pivot away from GBTC, explore alternative ETFs with lower fees for safeguarding BTC investments.
5. **Investor Recommendations:**
- Stay informed, making strategic decisions aligned with market shifts.
- Explore ETFs with competitive management fees to protect your BTC holdings in the changing financial landscape.
Adapting to the evolving landscape ensures resilience in the face of dynamic market conditions. đđ #GBTC #BTCMarketInsights #CryptoInvesting
$BTC
Take care #GBTC
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Discrepancy in Grayscale Bitcoin Trust (GBTC) Holdings Sparks Concerns: What Investors Need to Know
In a recent tweet, CryptoQuant founder fenKi Young Ju highlighted a concerning development in the cryptocurrency space, revealing a significant discrepancy of approximately 19,500 BTC between the on-chain holdings and the officially disclosed off-chain reserves of the Grayscale Bitcoin Trust (GBTC).
This revelation has raised questions about potential continuous selling pressure on GBTC and the potential impact on the broader market sentiment.
Understanding the Discrepancy:
The identified mismatch between on-chain and off-chain holdings of GBTC suggests a potential challenge for the trust, hinting at ongoing selling pressure.
This discrepancy could be a crucial indicator for investors, signaling the need for cautious monitoring and a thorough understanding of the evolving situation.
Potential Impact on Market Sentiment:
The observed inconsistency in GBTC's holdings poses the risk of further selling pressure, which, if realized, has the potential to influence overall market sentiment.
Investors are urged to exercise prudence and remain vigilant, as the situation unfolds, in order to make well-informed decisions in a dynamic market environment.
GBTC's Significance in the Cryptocurrency Market:
As the largest Bitcoin investment product, GBTC holds a pivotal role in the cryptocurrency market.
Any alterations in its holdings or market dynamics can send ripples throughout the industry.
Given its influence, the current situation with GBTC demands the attention of investors, market analysts, and enthusiasts alike.
Monitoring GBTC Developments:
Investors are advised to keep a close eye on the developments surrounding GBTC and its holdings.
Any changes in the trust's dynamics can potentially impact not only Bitcoin prices but also the broader cryptocurrency market.
Staying informed about these developments is crucial for making strategic investment decisions.
The discrepancy in GBTC's on-chain and off-chain holdings, as highlighted by CryptoQuant founder fenKi Young Ju, adds a layer of complexity to the evolving narrative in the cryptocurrency market.
Investors must remain vigilant, exercise caution, and stay informed about the developments surrounding GBTC.
As a key player in the crypto investment landscape, GBTC's challenges and resolutions have the potential to shape the broader market sentiment and influence investment strategies in the coming days.
#gbtc #Bitcoin
This revelation has raised questions about potential continuous selling pressure on GBTC and the potential impact on the broader market sentiment.
Understanding the Discrepancy:
The identified mismatch between on-chain and off-chain holdings of GBTC suggests a potential challenge for the trust, hinting at ongoing selling pressure.
This discrepancy could be a crucial indicator for investors, signaling the need for cautious monitoring and a thorough understanding of the evolving situation.
Potential Impact on Market Sentiment:
The observed inconsistency in GBTC's holdings poses the risk of further selling pressure, which, if realized, has the potential to influence overall market sentiment.
Investors are urged to exercise prudence and remain vigilant, as the situation unfolds, in order to make well-informed decisions in a dynamic market environment.
GBTC's Significance in the Cryptocurrency Market:
As the largest Bitcoin investment product, GBTC holds a pivotal role in the cryptocurrency market.
Any alterations in its holdings or market dynamics can send ripples throughout the industry.
Given its influence, the current situation with GBTC demands the attention of investors, market analysts, and enthusiasts alike.
Monitoring GBTC Developments:
Investors are advised to keep a close eye on the developments surrounding GBTC and its holdings.
Any changes in the trust's dynamics can potentially impact not only Bitcoin prices but also the broader cryptocurrency market.
Staying informed about these developments is crucial for making strategic investment decisions.
The discrepancy in GBTC's on-chain and off-chain holdings, as highlighted by CryptoQuant founder fenKi Young Ju, adds a layer of complexity to the evolving narrative in the cryptocurrency market.
Investors must remain vigilant, exercise caution, and stay informed about the developments surrounding GBTC.
As a key player in the crypto investment landscape, GBTC's challenges and resolutions have the potential to shape the broader market sentiment and influence investment strategies in the coming days.
#gbtc #Bitcoin
Bitcoin Price Set for New High as GBTC Outflows Decrease to $170M
Bitcoin is currently facing its âbiggest challengeâ with GBTC outflows, but predictions suggest that good times may return for BTC price action after next week.
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There are signs that momentum may be shifting already, especially as institutional BTC outflows decrease. Recent data, including from United Kingdom-based investment firm Farside, indicates that the Grayscale Bitcoin Trust (GBTC) only lost $170 million on March 22.
Challenges for US Spot Bitcoin Exchange-Traded Funds (ETFs)
This week, United States Spot Bitcoin exchange-traded funds (ETFs) have been in the spotlight for what some consider the wrong reasons. Inflows into these ETFs have notably decreased compared to the beginning of March, while outflows from GBTC have reached record highs, resulting in five consecutive days of net reductions in assets under management for GBTC.
The timing of these events seems strategic, as reports suggest that bankrupt crypto lender Genesis has been selling its GBTC position throughout the week. If this selling pressure has indeed subsided, it could alleviate downward pressure on ETF trends.
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Investor and entrepreneur Alistair Milne commented on X (formerly Twitter) regarding the flow data, noting, âNet flows out of the Bitcoin ETFs dropped to -$51.6mil yesterday, helped by a big slowdown in GBTC selling.â This observation suggests a potential stabilization or improvement in ETF flows following the slowdown in GBTC selling.
Bitcoin ETF flows (screenshot). Source: Farside
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Pivot Point Theory and Insights from Willy Woo
The pivot point theory, a concept in cryptocurrency analysis, is also endorsed by statistician Willy Woo, known for creating the on-chain data resource Woobull.
Also Read:Â Â Â SOL All-Time Highs Predicted; BTC & SEI Update
In a recent post on X (formerly Twitter), Woo unveiled a new model that compares ETF inflows with Bitcoin price movements. Although he didnât specify the data used for this metric, he indicated that the most intense phase of offloading may have passed.
Commenting on the new model, Woo suggested, âAccording to this new model Iâve been playing with, the worse of the sell down in this first phase of the consolidation may be over.â He further added, âIâm kinda expecting consolidation to run right into the halvening, thus more choppiness through April.â
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Bitcoin Inflow Model. Source: Willy Woo/X
Agreement on BTC Price Outlook from Pseudonymous Commentator
Pseudonymous commentator WhalePanda echoed similar sentiments regarding the outlook for Bitcoinâs near-term price action. Despite the recent fluctuations, he remained optimistic and suggested that conditions for a return to price discovery could be favorable by next week.
âNow weâll most likely have a sideways weekend and potentially consolidate a bit more next week before the path up to new ATH,â WhalePanda wrote. He highlighted the prevalence of individuals waiting for lower prices and emphasized the significance of the current emission schedule.
WhalePanda pointed out, âWith the current emission schedule at $64k, we need $57.6 million of inflows per day to scoop up the daily mined coins. In less than a month with the halving, that total is $28.8 million.â These insights shed light on the dynamics of Bitcoinâs supply and demand and its potential impact on future price movements.
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Mixed Reactions to GBTCâs Declining AUM
Some individuals expressed criticism towards the Grayscale Bitcoin Trust (GBTC), which now holds only half of the Assets Under Management (AUM) it had when it converted to an ETF in January. Crypto author and educator Vijay Boyapati argued that the ecosystem would be healthier without GBTC, attributing it to the 2022 market collapse and noting that its net outflows pose a significant challenge to Bitcoin.
Also Read:Â Â Â Shiba Inu Team Aims for New Record High Before Bitcoin Halving
On the other hand, spot Bitcoin products have seen remarkable success, representing the most successful ETF launch in history. Cumulative flows for these products have reached $12.15 billion since they began trading.
Cathie Wood, CEO of ARK Invest, one of the ETF providers, earlier stated that the bulk of institutional exposure to Bitcoin is yet to come. This indicates optimism about future institutional participation in the cryptocurrency market.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#Bitcoin #Altcoin #Cryptocurrency #GBTC $BTC $ETH $BNB
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There are signs that momentum may be shifting already, especially as institutional BTC outflows decrease. Recent data, including from United Kingdom-based investment firm Farside, indicates that the Grayscale Bitcoin Trust (GBTC) only lost $170 million on March 22.
Challenges for US Spot Bitcoin Exchange-Traded Funds (ETFs)
This week, United States Spot Bitcoin exchange-traded funds (ETFs) have been in the spotlight for what some consider the wrong reasons. Inflows into these ETFs have notably decreased compared to the beginning of March, while outflows from GBTC have reached record highs, resulting in five consecutive days of net reductions in assets under management for GBTC.
The timing of these events seems strategic, as reports suggest that bankrupt crypto lender Genesis has been selling its GBTC position throughout the week. If this selling pressure has indeed subsided, it could alleviate downward pressure on ETF trends.
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Investor and entrepreneur Alistair Milne commented on X (formerly Twitter) regarding the flow data, noting, âNet flows out of the Bitcoin ETFs dropped to -$51.6mil yesterday, helped by a big slowdown in GBTC selling.â This observation suggests a potential stabilization or improvement in ETF flows following the slowdown in GBTC selling.
Bitcoin ETF flows (screenshot). Source: Farside
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Pivot Point Theory and Insights from Willy Woo
The pivot point theory, a concept in cryptocurrency analysis, is also endorsed by statistician Willy Woo, known for creating the on-chain data resource Woobull.
Also Read:Â Â Â SOL All-Time Highs Predicted; BTC & SEI Update
In a recent post on X (formerly Twitter), Woo unveiled a new model that compares ETF inflows with Bitcoin price movements. Although he didnât specify the data used for this metric, he indicated that the most intense phase of offloading may have passed.
Commenting on the new model, Woo suggested, âAccording to this new model Iâve been playing with, the worse of the sell down in this first phase of the consolidation may be over.â He further added, âIâm kinda expecting consolidation to run right into the halvening, thus more choppiness through April.â
Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol
Bitcoin Inflow Model. Source: Willy Woo/X
Agreement on BTC Price Outlook from Pseudonymous Commentator
Pseudonymous commentator WhalePanda echoed similar sentiments regarding the outlook for Bitcoinâs near-term price action. Despite the recent fluctuations, he remained optimistic and suggested that conditions for a return to price discovery could be favorable by next week.
âNow weâll most likely have a sideways weekend and potentially consolidate a bit more next week before the path up to new ATH,â WhalePanda wrote. He highlighted the prevalence of individuals waiting for lower prices and emphasized the significance of the current emission schedule.
WhalePanda pointed out, âWith the current emission schedule at $64k, we need $57.6 million of inflows per day to scoop up the daily mined coins. In less than a month with the halving, that total is $28.8 million.â These insights shed light on the dynamics of Bitcoinâs supply and demand and its potential impact on future price movements.
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Mixed Reactions to GBTCâs Declining AUM
Some individuals expressed criticism towards the Grayscale Bitcoin Trust (GBTC), which now holds only half of the Assets Under Management (AUM) it had when it converted to an ETF in January. Crypto author and educator Vijay Boyapati argued that the ecosystem would be healthier without GBTC, attributing it to the 2022 market collapse and noting that its net outflows pose a significant challenge to Bitcoin.
Also Read:Â Â Â Shiba Inu Team Aims for New Record High Before Bitcoin Halving
On the other hand, spot Bitcoin products have seen remarkable success, representing the most successful ETF launch in history. Cumulative flows for these products have reached $12.15 billion since they began trading.
Cathie Wood, CEO of ARK Invest, one of the ETF providers, earlier stated that the bulk of institutional exposure to Bitcoin is yet to come. This indicates optimism about future institutional participation in the cryptocurrency market.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#Bitcoin #Altcoin #Cryptocurrency #GBTC $BTC $ETH $BNB
đ$BTC Difference in #GBTC trading volumes before and after the approval of spot BTC-ETFs
While the effect of the #ETF seems disappointing to most, the actual volumes cannot be underestimated: they represent 10% of all BTC trading volume ($2.57 billion vs. $25.258 billion)
By comparison, daily volumes of MSTR (Microstrategy stocks) average $500 million (i.e. about 1/5 of the ETF)
While the effect of the #ETF seems disappointing to most, the actual volumes cannot be underestimated: they represent 10% of all BTC trading volume ($2.57 billion vs. $25.258 billion)
By comparison, daily volumes of MSTR (Microstrategy stocks) average $500 million (i.e. about 1/5 of the ETF)
đŽ US spot #BitcoinETFs experienced massive inflows of $562M on March 4 as $BTC price soared past $68,000, nearing its all-time high.
Despite outflows from #GBTC and others, #BlackRock and Fidelity led the charge.
The day's net inflows were 10x the new $BTC mined.
#ETFs #BTCETF
Despite outflows from #GBTC and others, #BlackRock and Fidelity led the charge.
The day's net inflows were 10x the new $BTC mined.
#ETFs #BTCETF
