Grayscale CEO: GBTC approval could bring 'several billion dollars' to investors.

#grayscale #CEO #gbtc

Grayscale has entered into a partnership with FTSS Russel, which manages such well-known stock indices as the FTSE 100 and Russell 2000

 As part of the partnership , #Grayscale will launch 5 crypto indices in the FTSE Grayscale Crypto Sector Index Series

 Crypto sector indices will cover more than 150 protocols and will be revised quarterly to reflect the changing nature of the market.

Yesterday showed chart Russell 2000 #grayscale #BTC

⚡️ #Bitcoin is $39K falling by 1% today.
📉First attempt to consolidate below $39K have failed. The reason migh be 99 MA. It has been strong support/resistance level. In August 2023 when #BTC🔥🔥 broke this MA it fell by 7%.
💡BTW #grayscale #gbtc is still selling their #cryptocurrecny $BTC
NFA&DYOR

🐳🐳🐳 #Ethereum ETH's Strategic Accumulation by #Whales Precedes Dencun Upgrade, Signaling a Bright Future

Noteworthy Ethereum ($ETH ) accumulation patterns emerge as whales withdraw and stake substantial amounts ahead of the highly anticipated Dencun upgrade.

- Whale Activity Preceding Key Upgrade

Leading up to the Dencun upgrade, Ethereum experiences significant movements from whales. Notably, wallet 0x8B94 shifts 14,632 $ETH ($45.5M) from Binance to staking platforms within a mere six days. Furthermore, two new whale wallets collectively withdraw 6,000 $ETH ($18.7M) from Kraken, signaling strong confidence in Ethereum's future trajectory.

- Grayscale’s Insight: Dencun as Ethereum’s Milestone

#grayscale Research highlights Ethereum's upcoming Dencun upgrade as pivotal. Analyst Will Ogden emphasizes Dencun's focus on modularity to reduce transaction fees for rollups and enhance scalability, key for Ethereum's evolution into Ethereum 2.0.

- Ethereum’s Transition Through Adolescence

Grayscale likens Ethereum's developmental journey in 2023 to an adolescent phase, emphasizing its robust security, impressive TVL, and fee structure. The Dencun upgrade targets Ethereum's challenges like slow transaction speeds, low throughput, and high costs, promising a more efficient and scalable future.

- Dencun’s Impact on Ethereum’s Ecosystem

The Dencun upgrade is poised to significantly slash the cost of rollup transactions, benefiting platforms like #Arbitrum and Base, and reinforcing Ethereum's role as a settlement layer. Moreover, innovations like Eigenlayer, which utilizes staked ether for cross-chain security, are expected to expand Ethereum’s utility and reaffirm its dominance in the smart contract domain.

In Conclusion

Whale accumulation and Grayscale's analysis emphasize Dencun's transformative potential for Ethereum. The upgrade targets enhanced modularity, cost reduction, and scalability, reinforcing Ethereum's position as the premier smart contract platform and promising a bright future for its ecosystem.

Source - en.coinotag.com

#BinanceSquareTalks

Big News: BlackRock’s Bitcoin ETF Hits Major Milestone 🚀

🔹 What's Happening?
In just three months, BlackRock's iShares Bitcoin ETF, called $IBIT has collected over $15 billion

🔹 Why Is This Important?
This quick growth has put IBIT among the top 100 of all ETFs worldwide, out of about 3,500 ETFs.

🔹 What’s Next?
IBIT is close to reaching $20 billion in assets. It's quickly becoming a big name in the ETF market.

#blackrock #ETF #BitcoinETF #Fidelity #grayscale
$BTC $ETH $USDC

🚨ATTENTION🚨

🚦Since the launch of #ETF Bitcoin spot, #grayscale has been selling over 10,000 BTC per day

🛰A few hours ago Grayscale sent more than $900,000,000 in #Bitcoin to Coinbase.

It looks like they are getting ready to SELL even more! ☄$BTC falls below $40k

Something strange seems to be happening with one of the largest Bitcoin holders (Grayscale), I'll keep you updated!

#Write2Earn $BTC

#BTC #grayscale #keepbuilding

"The @SECGov says there is not enough ability to detect fraud in the spot market.

But the bitcoin futures market is a derivative of the spot market. These two markets are inextricably tied."

- CEO Grayscale

SC : @ BTC_archive twitter

$ARKM is on my watchlist. We saw a huge pump after Arkham Intelligence identified Grayscale's Ethereum Trust as the second-largest Ethereum holder. Notably, this news came alongside a court victory for Grayscale.

However, we can see the price retraced after the news cooled down a bit. Now it's trading near its resistance, and once the price rejects and retests from this area, we can consider opening a short position up to the 43-45 levels.

Keep an eye on this one. Once it's confirmed, we will share the entry and targets.

#Arkm #grayscale

🚀🚀🚀 #ETFs : Will #Bitcoin‬ hit a fresh all-time high in 2024?

Bitcoin's potential to surpass its previous all-time high (ATH) of nearly $70,000 is fueled by the emergence of exchange-traded funds (ETFs) & the upcoming halving event scheduled for April 2024.

- BTC's Recent Performance:

Bitcoin recently surged to its highest price since 2021, approaching its record peak of $69,000 before a correction. It currently stands above $63,000, driven by significant capital inflows into the global cryptocurrency market.

- Impact of ETFs:

The approval of spot ETFs for Bitcoin in the U.S. has attracted billions of institutional dollars, contributing to its upward trajectory. Out of the 11 approved ETFs, 10 are actively trading & have garnered substantial inflows.

- ETF Holdings:

Nine approved ETFs manage over 300,000 BTC, valued at $17 billion, while #grayscale 's holdings amount to approximately $27.61 billion, totaling around $43 billion worth of Bitcoin.

- BlackRock's Dominance:

#BlackRock , managing assets exceeding $7 billion, leads among ETF operators. Trading volume for its iShares Bitcoin Trust (IBIT) surged on Feb. 28, indicating widespread adoption.

- Halving Event:

Bitcoin's halving, occurring every four years, historically sparks price surges. Analysts predict it could drive Bitcoin to new highs, targeting at least $130,000 by 2024.

- Scarcity Model:

The halving maintains Bitcoin's scarcity, aligning with its deflationary principles by reducing mining rewards from 6.25 to 3.125 BTC per block. This ensures only 21 million $BTC will ever circulate, emphasizing Bitcoin's controlled supply mechanism.

- Market Predictions:

While many expect Bitcoin's price to soar post-halving, some, like JPMorgan, predict a drop to $42,000. The market's response will determine whether #bullish forecasts materialize in 2024.

- Current Status:

As of writing, Bitcoin trades at $63,748, with a market cap exceeding $1.2 trillion. Its future trajectory hinges on factors like ETF adoption & the halving event's impact on supply dynamics.

Source - crypto.news

🔥🔥🔥 #Bitcoin‬ Falls Below $69,000 as #grayscale Moves Over $400 Million in $BTC to #coinbase

Bitcoin experienced a setback today, dipping below its recent all-time high to under $69,000 per coin. However, the leading #cryptocurrency by market cap has since bounced back, currently trading above $70,000. Nonetheless, it remains notably lower than the $73,700 level reached yesterday, according to CoinGecko data.

Bitcoin's recent surge was largely attributed to the success of new spot Bitcoin exchange-traded funds (ETFs). However, market sentiment shifted on Thursday following the release of data from the Labor Department's Bureau of Labor Statistics, revealing a 0.6% increase in the producer price index last month. This unexpected rise in prices fueled concerns about inflation, leading traders to speculate that the Federal Reserve might delay interest rate cuts in May. Consequently, this triggered a sell-off in both digital assets and stocks.

Another contributing factor to the market movement is the transfer of approximately $400 million in Bitcoin by Grayscale to its custodian, Coinbase, as reported by Arkham Intelligence data today.

While the inflation narrative plays a significant role, the increased Grayscale selling may also be influencing market dynamics. Grayscale has previously been observed selling large amounts of digital coins, particularly after converting its fund into a Bitcoin exchange-traded fund (ETF) on January 10. This shift in strategy led to downward pressure on Bitcoin's price.

James Butterfill, Head of Research at Coinshares, suggested that both developments—Grayscale's selling and the inflation concerns—are contributing factors to the recent market movements.

Following Grayscale's conversion to a Bitcoin ETF, investors have been eager to redeem their holdings and realize profits. This trend appears to continue, contributing to the ongoing market volatility.

Despite the Grayscale redemptions, the overall inflows for the other nine #ETFs trading surpassed the $1 billion mark, reaching a record high on Tuesday.

Source - decrypt.co

⚡️ Bitcoin - selloff is still going on.
📊 #BTC🔥🔥 made attempt to change the trend and reached $40500 however didn't consolidate above $40K.
💡Sales are still going👇, also from #grayscale (#gbtc ). Main support is 1D 99MA. If it would be broken $BTC show would go on...
NFA&DYOR
#bearishmomentum
#tradeAlert

#CRYPTO News >_ Grayscale Investments launches exclusive staking income fund for wealthy clients
#grayscale

▪️ Grayscale execs Barry Silbert, Mark Murphy quit board of directors #news #grayscale

👉👉👉 ‘Unsustainable’ deficit, inflation means more demand for #Bitcoin : #grayscale

Grayscale suggests that while recent inflation data might pose a short-term challenge for crypto, sustained inflation could create a favorable environment for assets like Bitcoin, which serve as a store of value. According to Zach Pandl, Grayscale's managing director of research, the United States' persistent overspending and high interest rates will drive demand for such assets.

Pandl points out that with the current high inflation, it's unlikely that the Federal Reserve will lower interest rates soon. However, upcoming events like the Bitcoin halving on April 20, along with increasing economic growth and greater adoption of #cryptocurrencies , are expected to support Bitcoin's price.

March's inflation rose by 0.4% month-on-month and 3.5% year-over-year, slightly exceeding economists' estimates. This development disappointed many, echoing Pandl's concerns about the Fed's ability to lower interest rates in the near term due to sustained high inflation rates.

However, Pandl also notes that while an increase in the real interest rate might be a short-term setback for crypto, there will still be ongoing demand for store-of-value assets in the long run.

From a macro perspective, the 10-year real interest rate experienced a notable increase, which could prompt investors to turn to less volatile assets like bonds and term deposits.

Historically, significant spikes in the 10-year real interest rate have coincided with declines in Bitcoin's price. For example, from December 2017 to January 2018, the rate surged by 52.35%, leading to a 28% decline in Bitcoin's price during the same period.

In summary, while short-term challenges may arise due to inflation and interest rate dynamics, the long-term outlook for assets like Bitcoin remains positive, driven by factors such as adoption trends and macroeconomic conditions.

Source - cointelegraph.com

#CryptoNews🔒📰🚫 #BinanceSquareBTC $BTC

VanEck Commits to Donating 5% of $BTC #ETF Profits to Bitcoin Developers at Brink

Asset manager VanEck, a potential Bitcoin ETF provider, plans to donate a portion of ETF profits to Bitcoin core developers upon approval. VanEck pledged 5% to developers through nonprofit Brink and made an initial $10,000 donation. The firm expressed gratitude for developers' dedication to decentralization and innovation. The #SEC is expected to decide on VanEck's spot Bitcoin ETF application soon, potentially attracting substantial traditional finance investment into crypto. The move aims to demonstrate commitment to the core Bitcoin industry by supporting developers and the ecosystem. VanEck is among firms awaiting an SEC decision, including #BlackRock , Bitwise, Fidelity, #grayscale , Valkyrie, Invesco, Galaxy, and WisdomTree.

This echoes a prior commitment where VanEck pledged 10% of profits from its Ether (ETH) futures ETF to Ethereum core developers. While some argue the impact of a US spot Bitcoin ETF may be limited, others predict a significant capital injection. The SEC must soon disclose its verdict, with analysts predicting approval by January 10 and a potential $10 billion inflow into Bitcoin ETFs within 12 months.

Source - Hassan Shittu @hassan-shittu
Website - Cryptonews

#CryptoNews🔒📰🚫 $ETH

👉👉👉 #Fidelity #BitcoinETF rakes in reported $208M, offsetting #grayscale outflows alone

Grayscale's Bitcoin fund experienced a fifth consecutive day of slowed outflows, while Fidelity's spot Bitcoin ETF saw robust inflows, surpassing Grayscale's outflows for the first time since its launch. On January 29, Fidelity's FBTC attracted $208 million in daily inflows, outpacing the $192 million outflow from Grayscale Bitcoin Trust (GBTC) on the same day, according to provisional data from Farside Investors and BitMEX Research.

The recent GBTC outflows marked a nearly 25% decrease from $255 million on January 26 and a substantial 70% drop from the fund's peak daily outflows of $641 million on January 22. This represents the second-lowest outflow day for Grayscale's fund, with only $95 million leaving on January 11, the day it transitioned to a spot Bitcoin exchange-traded fund (ETF).

Market observers are closely monitoring GBTC for signs of slowing outflows as investors seek to capitalize on their previously underwater positions. JPMorgan analysts suggested on January 25 that GBTC outflows have exerted downward pressure on Bitcoin prices but indicated that this trend should be mostly behind us.

New U.S. spot Bitcoin ETFs, introduced on January 27, recorded a combined volume of $994.1 million on January 29, nearly double the $570 million volume of GBTC. BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) dominated the new ETFs' combined volume, representing 78% with daily volumes of $460.9 million and $315.4 million, respectively

Global competition in the spot Bitcoin ETF market prompts fee reductions. Invesco and Galaxy Asset Management cut fees on Invesco Galaxy Bitcoin ETF (BTCO) from 0.39% to 0.25%, aligning with major players. BTCO has zero fees for the first six months or until $5 billion in assets. European ETF providers, including Invesco and WisdomTree, also reduced fees, signaling a global fee war in the growing Bitcoin ETF market.

Source - cointelegraph.com

#CryptoNews #BinanceSquareBTC $BTC

💥BREAKING: Grayscale has submitted their updated s-3 and are only dropping from 2% to 1.5% fee.

This is the highest fee seen across the board.

Some are at 0.30% while Grayscale is doing 1.5%.

#etf #cryptohustle #crypto #grayscale #dyor

👉👉👉 #grayscale Cuts Bitcoin Outflows In Half, One-Day Volume Drops Below $200 Million

Grayscale, after causing notable market shifts with its Bitcoin portfolio adjustments, has considerably reduced the pace of its Bitcoin outflows, as reported by blockchain analysts.

In a Tuesday Twitter update, Arkham Intelligence shared statistics indicating that Grayscale had transferred more than 4,400 $BTC to Coinbase, its custodian, in the past day.

Although the current value of this Bitcoin stands at less than $200 million, this recent offloading represents "less than half of the average daily volume last week." In the earlier part of this month, the fund manager, a subsidiary of Digital Currency Group (DCG), had been divesting a more substantial amount of digital coins, moving $2.2 billion within a few days to the American exchange, resulting in notable pressure on the cryptocurrency's price.

As of now, industry observers, including Arkham, are speculating that Grayscale might be nearing the completion of its selling activities. On Tuesday, Arkham posed the question: "Is Barry done selling?" referring to DCG CEO Barry Silbert.

Grayscale initiated the transfer of its BTC to Coinbase for selling after converting its fund into a Bitcoin exchange-traded fund (ETF) on January 10. Before this conversion, Grayscale operated as a closed-end fund, requiring investors to hold their shares for at least six months.

Since the transformation into this popular new investment vehicle, investors have shown eagerness to redeem their holdings.

Analysts held differing opinions on whether the approval of BTC #ETFs would trigger a surge in Bitcoin prices. Initially, there was an uptick, with the price briefly reaching close to $49,000 per coin for the first time since 2021.

Source - decrypt.co

#CryptoNews #BinanceSquareBTC #cryptocurrency

#grayscale What is he doing? He reduced the amount of bitcoin he had, which was around 600k, to around 300k by selling. He sells an average of 5k to 1k every day. If it weren't for these sales, bitcoin would have seen 129 thousand dollars. From there, users who ate the arbitrage difference did not start buying. Probably again with the Fed's interest rate cut in July. They will either buy real BTC or spot ETF BTC again. This will ensure that there will be big candles in the price of bitcoin every day. If this happens, bitcoin will go up by breaking a new record every day with an increase of 3 thousand dollars a day with only these purchases. And if the Asian market is added to this, bitcoin Events will not be like bulls and the ropes will be in the hands of corporate companies, stock markets and whales will be unable to sell due to fear, which will bring a serious upward movement.$BTC $ETH $SOL