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BTC update
#btc #BTCbitcoin #TradeNTell #BITCOIN
Bitcoin is up $554.46 today or 1.35% to $41643.34
Snaps a two day losing streak
Down 2.04% month-to-date
Down 2.04% year-to-date
Down 38.58% from its all-time high of $67802.30 on Nov. 9, 2021 (based on 5 p.m. levels)
Up 86.44% from 52 weeks ago (Jan. 20, 2023), when it traded at $22335.85
Down 11.57% from its 52-week high of $47091.18 on Jan. 8, 2024 (based on 5 p.m. levels)
Up 107.28% from its 52-week low of $20090.58 on March 10, 2023 (based on 5 p.m. levels)
Traded as high as 42181.13
Up 2.66% at today's intraday high; Largest intraday % increase since Jan. 11, 2024, when it was up as much as 6.61%
#btc #BTCbitcoin #TradeNTell #BITCOIN
Bitcoin is up $554.46 today or 1.35% to $41643.34
Snaps a two day losing streak
Down 2.04% month-to-date
Down 2.04% year-to-date
Down 38.58% from its all-time high of $67802.30 on Nov. 9, 2021 (based on 5 p.m. levels)
Up 86.44% from 52 weeks ago (Jan. 20, 2023), when it traded at $22335.85
Down 11.57% from its 52-week high of $47091.18 on Jan. 8, 2024 (based on 5 p.m. levels)
Up 107.28% from its 52-week low of $20090.58 on March 10, 2023 (based on 5 p.m. levels)
Traded as high as 42181.13
Up 2.66% at today's intraday high; Largest intraday % increase since Jan. 11, 2024, when it was up as much as 6.61%
TOP NEWS #BTC-ETF. #btc #BTCbitcoin
Grayscale CEO's warning: Only two or three spot Bitcoin ETFs are here to stay
Most of the spot Bitcoin
BTCUSD exchange-traded funds (ETF) approved by the United States Securities and Exchange Commission (SEC) won’t survive, Grayscale Investment CEO Michael Sonnenshein says.
Sonnenshein predicted in an interview with CNBC at the World Economic Forum on Jan. 18 that the majority of the 11 approved spot Bitcoin ETFs are likely to fail.
The U.S. SEC officially approved 11 spot Bitcoin ETFs on Jan. 10, with 10 of them beginning trading the next day. Many ETF issuers were actively lowering their trading fees to raise competitiveness with other ETF sponsors, with most of the approved ETFs setting fees between 0.2% and 0.4%. Multiple spot Bitcoin ETF providers also offered temporary fee waivers.
On the other hand, Grayscale — the largest Bitcoin holder among spot Bitcoin ETF issuers — charges as much as 1.5% without any waivers.
Grayscale CEO Sonnenshein defended the highest fees in the market for its spot Bitcoin ETF product, stating that only two or three of the spot Bitcoin ETFs are here to stay, while the rest will be pulled from the market. He said:
“I think from our standpoint, it may at times call into question their long-term commitment to the asset class [...] I don’t ultimately think that the marketplace will have ultimately these 11 spot products we find ourselves having.”
Sonnenshein’s remarks came on the fifth day of spot Bitcoin ETF trading in the United States. Since the trading launch, Grayscale has become the only issuer aggressively dumping Bitcoin, offloading as much as 37,947 BTC by Jan. 18. In contrast, the other nine issuers have added at least 40,000 BTC to their products since the start of trading.
Quantum Economics founder Mati Greenspan doesn’t rule out the possibility that most ETF issuers are likely to fail in the long term because most investors will prefer to hold their assets, or opt for self-custody.
Grayscale CEO's warning: Only two or three spot Bitcoin ETFs are here to stay
Most of the spot Bitcoin
BTCUSD exchange-traded funds (ETF) approved by the United States Securities and Exchange Commission (SEC) won’t survive, Grayscale Investment CEO Michael Sonnenshein says.
Sonnenshein predicted in an interview with CNBC at the World Economic Forum on Jan. 18 that the majority of the 11 approved spot Bitcoin ETFs are likely to fail.
The U.S. SEC officially approved 11 spot Bitcoin ETFs on Jan. 10, with 10 of them beginning trading the next day. Many ETF issuers were actively lowering their trading fees to raise competitiveness with other ETF sponsors, with most of the approved ETFs setting fees between 0.2% and 0.4%. Multiple spot Bitcoin ETF providers also offered temporary fee waivers.
On the other hand, Grayscale — the largest Bitcoin holder among spot Bitcoin ETF issuers — charges as much as 1.5% without any waivers.
Grayscale CEO Sonnenshein defended the highest fees in the market for its spot Bitcoin ETF product, stating that only two or three of the spot Bitcoin ETFs are here to stay, while the rest will be pulled from the market. He said:
“I think from our standpoint, it may at times call into question their long-term commitment to the asset class [...] I don’t ultimately think that the marketplace will have ultimately these 11 spot products we find ourselves having.”
Sonnenshein’s remarks came on the fifth day of spot Bitcoin ETF trading in the United States. Since the trading launch, Grayscale has become the only issuer aggressively dumping Bitcoin, offloading as much as 37,947 BTC by Jan. 18. In contrast, the other nine issuers have added at least 40,000 BTC to their products since the start of trading.
Quantum Economics founder Mati Greenspan doesn’t rule out the possibility that most ETF issuers are likely to fail in the long term because most investors will prefer to hold their assets, or opt for self-custody.
What's your thoughts about current BTC scenario #BTC #BinanceVote #ETFsApproval #TrendingTopic #bticoin
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