Significant Inflows Boost Assets Under Management
Spot Bitcoin exchange-traded funds (ETFs) continue their upward momentum, attracting $1.7 billion in weekly inflows, extending their positive streak to six consecutive weeks. This growth has brought total assets under management to $95.4 billion, representing 5.27% of Bitcoin’s total market capitalization of $1.8 trillion.
Another Successful Week for Bitcoin ETFs
Positive Market Momentum
Between November 11 and 15, spot Bitcoin ETFs recorded net inflows of $1.67 billion, according to data from the tracking platform SoSoValue. This performance aligns with the bullish sentiment in the cryptocurrency market, driven by Bitcoin’s sharp price increase.
Market Leaders
Leading the inflows is BlackRock's iShares Bitcoin Trust (IBIT), which has amassed cumulative inflows of $29.3 billion. In contrast, the Greyscale Bitcoin Trust ETF has seen outflows totaling $20.3 billion since spot BTC ETFs began trading in January.
Ether ETFs Experience Growth as Well
Weekly Inflows for ETH ETFs
In addition to Bitcoin ETFs, spot Ether ETFs also recorded inflows, attracting $515 million in the past week. Over the past three weeks, Ether ETFs have seen net inflows of $682 million, underscoring growing investor interest in Ethereum-based products.
Six Weeks of Inflows Add Nearly $9 Billion
Sustained Growth
Since October 11, spot Bitcoin ETFs have accumulated inflows of $8.95 billion over six consecutive weeks, according to SoSoValue. This growth coincided with Bitcoin reaching its all-time high of $92,400 on November 13, following its first-ever breach of $90,000 on November 12.

Paul Tudor Jones Strengthens Exposure to IBIT
Billionaire Among Top IBIT Holders
Investment magnate Paul Tudor Jones increased his holdings in BlackRock's spot Bitcoin ETFs during the third quarter by adding $130 million worth of IBIT shares. He now ranks as the ninth-largest IBIT shareholder, with a total holding valued at nearly $160 million.

Other Major Investors
In addition to Jones, other prominent institutions have also expanded their positions in IBIT. Goldman Sachs notably increased its holdings by 71%, bringing its total exposure to $710 million.
Total Crypto Fund Inflows Reach $2.2 Billion Globally
Data from CoinShares
According to CoinShares, global crypto funds recorded inflows of $2.2 billion last week, with Bitcoin products accounting for the majority. However, James Butterfill, Head of Research at CoinShares, noted that the second half of the week saw outflows of $866 million, likely due to profit-taking following record inflows of $3 billion.
Summary: Bitcoin ETFs Continue to Attract Investors
Spot Bitcoin ETFs are experiencing historic growth, underscoring increased investor confidence in cryptocurrency products. Significant inflows, bolstered by Bitcoin’s record-breaking price levels, are strengthening market dynamics. Leading funds like BlackRock's IBIT and rising interest in Ether ETFs highlight the growing importance of crypto ETFs as key investment vehicles in the global market.

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Approval of Spot XRP ETF Seems To Be Challenging
On January 10, the Securities and Exchange Commission (SEC) granted approval for all 11 spot Bitcoin Exchange-Traded Funds (ETFs), leading to increased speculation about the potential approval of other cryptocurrency spot ETFs. There is growing anticipation that Ethereum and XRP ETFs might also receive approval in the near future.
Recent reports suggest that approval for these cryptocurrency ETFs could materialize by April 2024. However, experts caution that not all cryptocurrency ETFs may necessarily receive regulatory approval.
Challenges for XRP ETF Approval Amid Ripple-SEC Legal Battle
According to Coingabbar, while approval for a spot Ethereum ETF seems likely, obtaining approval for a spot XRP ETF is considered quite challenging. This difficulty is attributed to the ongoing legal dispute between Ripple and the SEC.
The partial victory secured by Ripple in July, where the court ruled that XRP is not a security if not sold to institutional buyers, has implications for the ongoing case. The trial is scheduled for April 23.
Ripple’s CEO, Brad Garlinghouse, expresses optimism about the approval of spot XRP ETFs following the SEC’s recent approval of all 11 spot Bitcoin ETFs. Garlinghouse is confident that the SEC will grant approval for spot XRP ETFs in the coming days.
Spot Ethereum ETF Approval Expected, Ripple CEO Foresees Next Cryptocurrency ETF
Garlinghouse not only holds optimism for XRP but also believes that a spot Ethereum ETF will be the next cryptocurrency ETF to receive approval after #Bitcoin ($BTC).
The SEC’s approval of spot Bitcoin ETFs is seen as a crucial regulatory validation for the cryptocurrency market. It instills confidence in investors and paints a promising future for the overall cryptocurrency market.
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#BTCETF #bitcoinnews #cryptocurrency

Bitcoin ETFs, or Exchange-Traded Funds, are investment funds that track the price of Bitcoin. They allow investors to gain exposure to Bitcoin without directly owning the cryptocurrency. ETFs are traded on traditional stock exchanges, making it easier for institutional and retail investors to invest in Bitcoin.The introduction of Bitcoin ETFs is expected to have a significant impact on the mass adoption of the blockchain industry for several reasons:1. Accessibility: ETFs are traded on traditional stock exchanges, which are familiar to most investors. This accessibility makes it easier for individuals and institutions to invest in Bitcoin. As a result, more people will have the opportunity to participate in the cryptocurrency market, leading to increased adoption.2. Regulatory Approval: Bitcoin ETFs require regulatory approval, which involves thorough due diligence and compliance with existing financial regulations. This approval process adds a layer of legitimacy and oversight to the cryptocurrency market, making it more attractive to traditional investors who may have been hesitant to enter the space.3. Risk Mitigation: ETFs offer a regulated and standardized investment vehicle for Bitcoin. This reduces the risk associated with directly owning and storing cryptocurrencies, which can be challenging for novice investors. The increased security and ease of use provided by ETFs can attract a wider range of investors, including those who may have been skeptical or cautious about the technology.4. Market Liquidity: ETFs are traded on stock exchanges, which are known for their liquidity. This means that investors can easily buy and sell ETF shares at any time during market hours. The presence of liquid ETF markets for Bitcoin can contribute to a more efficient and stable cryptocurrency market, attracting more participants and encouraging mass adoption.5. Institutional Investment: The introduction of Bitcoin ETFs can pave the way for institutional investors, such as pension funds, endowments, and hedge funds, to enter the cryptocurrency market. These institutional investors bring significant capital and credibility to the industry, further driving mass adoption and mainstream acceptance.#etf #BTCETF #ETF #ETFApproval

Bitcoin's value surged beyond $37,000, rebounding from a recent dip close to $34,000 earlier this week.This upward momentum is fueled by revived optimism surrounding the potential approval of a Bitcoin spot ETF within the United States.Despite the SEC postponing decisions on various crypto ETF applications, this setback hasn't discouraged Bitcoin investors, evident in the ongoing rally.Both Bitcoin's funding rate and open interest have seen an uptick, signaling continued bullish sentiment among investors regarding the cryptocurrency's potential.For the optimistic projection of Bitcoin reaching $40,000, the crucial threshold to avoid would be any price drop below $35,375, potentially halting this aspirational target.

Bitcoin Shows Resilience Amidst SEC Decision Anticipation
Bitcoin faced a challenge, yet it remained defiant, especially with investors anticipating the SEC's verdict on a new Bitcoin spot ETF. Those betting against Bitcoin found themselves ousted from the market, as the cryptocurrency surged back above the $37,000 mark.
Echoes of Last Week's Movement
According to TradingView data, Bitcoin initially slid to approximately $34,000 after encountering resistance at $38,000. Notably, the $38,000 level has remained steadfast since Bitcoin's downturn in May 2022. Presently, Bitcoin hovers around $37,118, maintaining position above a critical support zone that analysts consider a pivotal turning point.
Signs of Continuing Momentum
Material Indicators’ tweet hinted at Bitcoin's potential for further growth: “Trend Precognition indicates that this rally may not be over yet.” The account emphasized that while $40,000 is within focus, Bitcoin’s trajectory this week holds no certainties. However, Material Indicators warned that dipping below $35,375 could nullify the current positive signals.
Bitcoin ETFs in Regulatory Limbo
Speculation suggests that Bitcoin's recent price surge might be linked to reports of the SEC postponing decisions regarding several crypto ETF applications, including those from VanEck, Valkyrie, and WisdomTree. The delay in approving the first Bitcoin spot ETF in the U.S. continues due to concerns about market manipulation, fraudulent activities, and safeguarding ETF users.
Market Indicators Favor Bitcoin
Bitcoin’s price isn't the only indicator signaling positivity. Coinglass data reveals a bullish trend in Bitcoin’s funding rate despite price fluctuations. Additionally, Bitcoin's open interest has soared to $16.7 billion, an unprecedented high since June 2022. Moreover, the percentage of calls (buys) on Bitcoin options open interest remains notably optimistic.
Conclusion: The $40,000 Threshold
In summary, experts suggest that only a plunge below $35,375 could derail the anticipated climb towards the $40,000 milestone for Bitcoin.
Disclaimer: Voice of Crypto endeavors to present accurate and current information. However, it bears no responsibility for omissions or inaccuracies. Cryptocurrencies are inherently volatile; hence, independent research is advised for making financial decisions.

#bitcoin #BTC #BTCETF #ETF #BitcoinETF
$BTC

Bitcoin, Ethereum, and friends are ending 2023 with their party hats on! The crypto market is buzzing with good vibes, thanks to:ETF Rumors: #BTCETF Whispers of a "Bitcoin ETF" for easier buys might become reality soon, bringing new players to the crypto game.$Holiday Hype: December loves #BTC Bitcoin, and this year's no different. Prices are zooming upwards, making everyone feel merry and bright.Altcoin Action: Not just #BTC Bitcoin, #ETH! Ethereum and #SOL100 Solana are also joining the dance floor, proving their worth in the crypto world.Innovation Flowing: New ideas and cool stuff keep popping up, like airdrops and big names joining the crypto fun.Regulation Rumbling: Things are still up in the air, but progress is happening, paving the way for a smoother future.So, what does this mean for next year? Well, buckle up, because 2024 might be a wild ride for crypto. Just remember, research is your best friend, and investing responsibly is key. Happy holidays and happy hodling!#Cryptocurrrency $BTC $ETH $SOL

Impending Bitcoin Bull Cycle:Technical indicators suggest a potential upswing in Bitcoin's value.On-chain metrics indicate favorable conditions aligning for a bullish trend.Anticipated Arrival of Bull Run:Signs point towards a probable bull cycle commencing in the early months of the upcoming year.Market analysis and patterns hint at a positive trajectory for Bitcoin's price.Prospects of Bitcoin ETFs:Expectations are high for the launch of Bitcoin Exchange-Traded Funds (ETFs) in the near future.The introduction of ETFs could further amplify Bitcoin's market influence and investment accessibility.

📈 Bitcoin Bull Cycle Anticipation: ETF Talks and Market Indicators 🚀📊
Rumblings within the crypto market hint at a potential Bitcoin bull cycle on the horizon, largely tied to ongoing discussions between regulatory bodies and major financial players like Grayscale and BlackRock regarding ETF approvals. Analysts predict a window between January 8th to 10th, 2024, for a potential ETF green light, a catalyst for a bullish surge.
📈 On-chain Signals of Upcoming Bull Cycle 📊🐂
Key on-chain indicators are flashing positive signals for Bitcoin's potential bull run. The Net Unrealized Profits and Losses (NUPL) metric is on the rise, reflecting increased profitability among investors, often a precursor to upward price movement. Additionally, the Market Value/Realized Value Ratio (MVRV) highlights growing optimism, with more investors holding onto Bitcoin for potentially higher gains.
📉 Impending ETF Approval as Bullish Trigger 📈🕒
The anticipated approval of Bitcoin ETFs by the SEC, possibly between January 8th to 10th, 2024, is poised as a pivotal event to catalyze the much-anticipated bull cycle. Discussions between BlackRock and the SEC hint at a potential shift in regulatory stance, possibly influenced by recent legal outcomes, including Grayscale's win against the SEC.
📈 Bitcoin's 2023 Performance & Current Status 📉💰
Reflecting on Bitcoin's journey in 2023, the cryptocurrency experienced substantial growth, surging from $16,398 to $44,705 in various phases, encountering resistance levels along the way. Presently, Bitcoin's consolidation near $44,800 suggests a potential breakout. Technical indicators present a mixed outlook, with the RSI indicating a possible price rebound and the MACD hinting at a slowdown in the decline.
📊 Bitcoin Price Analysis & Projections for 2024 📈🔍
Daily charts point to Bitcoin's current consolidation phase near $44,800, accompanied by indicators suggesting a probable bounce-back. However, considering the mixed signals, a suggested strategy for long positions or purchases involves a stop loss at $41.5k. On the upside, a breach beyond $44.8k could pave the way for a surge toward $47k.
🔔 Disclaimer: Insights provided aim for accuracy, yet fluctuations in cryptocurrencies demand due diligence and individual financial assessments. Cryptocurrency investments carry inherent volatility; personal research and decision-making are crucial in this dynamic landscape.

#BTC #BitcoinETF #BTCETF #Bitcoin
$BTC

With Google updating its policy regarding crypto-related ads, BlackRock and VanEck have seized the opportunity to become the first asset managers to advertise Bitcoin spot ETFs.  

Read more on: https://thecryptobasic.com/2024/01/30/blackrock-and-vaneck-advertise-bitcoin-etfs-on-google-amid-new-policy-update/
#BitcoinETF💰💰💰 #BTCETF #Crypto #CryptonewswithJack #CryptoNewsUpdate