The world’s largest asset management company, BlackRock, has increased the amount of Bitcoin on its balance sheet. According to the website, BlackRock has increased the amount of Bitcoin (BTC) in its iShares Bitcoin Trust (IBIT) to 242,829. The volume of assets under management in the fund’s spot Bitcoin ETF reached $15.5 billion at the current exchange rate. Source: iShares Fox...
Bitcoin declined over 5% on March 22 as spot ETFs recorded negative numbers for the fourth consecutive day, mainly due to Grayscale GBTC exits. According to SoSo Value, 10 spot Bitcoin (BTC) ETFs marked $93.8 million in cumulative single-day outflow during trading on March 21. Grayscale’s GBTC accounted for most of the BTC ETF share liquidation, amounting to $358...
Spot Bitcoin ETFs experienced their largest three-day withdrawal since their launch in January. The trend marked a significant shift from the high demand propelling Bitcoin to its all-time high. Between Monday and Wednesday, these ETFs saw a withdrawal of $742 million, indicating substantial outflows from the Grayscale Bitcoin Trust alongside a decrease in new investments in competing funds...
Market sentiments have quickly turned bearish, as the spot Bitcoin ETFs record their highest daily net outflows amid Bitcoin’s (BTC) drop to the lower spectrum of the $60,000 territory. According to data provided by Farside Investors, a U.K.-based investment management firm, the spot Bitcoin ETF products experienced net outflows totaling $326.2 million on March 19, marking the second...
Bitcoin’s decline prompts caution among traditional investors, emphasizing the importance of forthcoming flow data to gauge market sentiment. Traditional investors (tradfi) are starting to exercise caution as Bitcoin’s (BTC) price experiences a decline pulling back over 12.5% from its recent all-time high reached on Mar. 14. In a recent research report Bitfinex notes that the latest retreat “was...
Bitcoin ETFs in the U.S. saw record inflows last week, but 10x Research reports that analysts caution about possible price declines if demand falters. According to data from Farside Investors, the 10 ETFs collectively attracted $2.6 billion in new investments during the five days ending March 15. Most of these inflows occurred early in the week, with...
Bitfinex warns of potential centralization of mining power amid concerns over the upcoming Bitcoin’s halving, which could increase financial pressure on small miners. Bitcoin’s upcoming fourth halving scheduled for around Apr. 20 might force smaller miners to exit the market, with remaining mining operations likely to be accessible only by publicly traded miners. According to a recent report by Bitfinex, the...
Binance CEO Richard Teng predicts Bitcoin’s value will surpass the $80,000 mark amid increasing investments in crypto-backed exchange-traded funds. Binance CEO Richard Teng foresees Bitcoin’s price surpassing the $80,000 mark amid a surge in investments in crypto-backed exchange-traded funds (ETFs), Bloomberg reports. Teng, who became Binance CEO following the departure of the exchange’s founder Changpeng Zhao in November 2023, emphasized the...
What’s causing the extreme greed in Bitcoin investors in 2024? Discover the driving forces behind the market sentiments and predictions. Since the onset of 2024, Bitcoin (BTC) has demonstrated a remarkable surge, attaining levels of market dominance and investor interest not seen in years. On Feb. 29, BTC reached a new high of $63,544, marking its highest...
Bitwise anticipates a surge in institutional investment into Bitcoin ETFs in the coming months as major financial institutions, known as “wirehouses,” start offering Bitcoin ETF trades to their clients. Matt Hougan, Bitwise’s Chief Investment Officer, shared a number of insights during a CNBC interview on Feb. 29, stating that the initial interest in Bitcoin ETFs has primarily come...
