#write2earn #Bitcoin ETFs Facing Outflows Amid Crypto Market Volatility #bitcoinBloddBath #BTC #bitcoinETF
$BTC

Spot bitcoin ETFs listed on U.S. exchanges are gearing up for their first week of experiencing more money flowing out than in since late January.
Crypto markets remained highly volatile on Friday, with bitcoin (BTC) dropping below $63,000 at one point after hovering around $67,000 just hours earlier. Though it has seen a slight recovery, the current price sits at $64,000, marking a 3.7% decrease over the past day. This sell-off had a ripple effect across the market, with Solana's token (SOL) taking a particularly hard hit, declining by more than 10% at one stage.
Bitcoin's sharp decline from its recent all-time high above $73,000 over a week ago initiated a corrective phase for crypto assets. Despite a 10% rally on Wednesday following a dovish stance from the Federal Reserve, recent price movements suggest a slower recovery than anticipated.

Mike Novogratz, CEO of Galaxy Digital, shared during a panel discussion at Bitcoin Investor Day in New York that reclaiming the $73,000 mark might take some time.

The weak price performance coincides with four consecutive days of net outflows for U.S.-listed spot bitcoin ETFs. While most funds are still seeing inflows, they haven't been enough to offset significant outflows from the Grayscale Bitcoin Trust (GBTC). On Thursday alone, GBTC witnessed $359 million flowing out, contributing to $94 million in outflows for the entire fund group. Fidelity's Wise Origin Bitcoin Fund (FBTC) experienced its lowest daily inflow on record.

This week, spot ETFs have seen over $830 million in outflows, marking their second negative week since late January when BTC corrected to $39,000.

Analysts at Coinbase Institutional suggested that the increased selling of GBTC shares could be partly due to Genesis selling shares as part of its bankruptcy process.

After a long wait, US markets regulator Securities and Exchange Commission (SEC) finally gave a go-ahead to the spot bitcoin ETFs on Wednesday, a move that led to a massive jump in the bitcoin prices.

An ETF will be the simplest form of Bitcoin exposure for retail users. Investors can seamlessly benefit from Bitcoin price movements without the complexities of digital wallets or drastic investment strategy overhauls.

What is a spot bitcoin ETF?

A spot bitcoin ETF refers to an investment instrument which can invest directly in bitcoin rather than in its futures contracts

This would enable investors to get direct exposure to bitcoins rather than through derivative contracts. So, a spot ETF would own actual bitcoins, which will lead to higher transparency in the crypto transactions, and obviously greater stability of crypto prices.
Notably, SEC has rejected all such applications seeking approval for spot bitcoin ETF in the past 10 years but the speculations were rife that the approval would come at the start of calendar year 2024.#bitcoinETF #BTC #ETH $BTC $ETH $BNB

🧑‍🦱Franklin Templeton, one of the world's largest asset managers, has filed a spot #bitcoinETF application with the SEC, bringing the prospect of a U.S.
📈 signaling the growing recognition of Bitcoin as 👉"a future financial asset" 👈. 😱The start of the uptrend in next season - 2024.
Don't you think so? Tell us in a comment! 😋$BTC $ETH $BNB

There are already 20 spot bitcoin-ETFs launched globally, which have raised $4.16 billion 👆 👆
The leader in this market is Canada, with second place going to Germany.
The question of the week with a claim to the question of the year: if the SEC approves a spot ETF in the US will more money be raised in it?

Clearly, BlackRock and Fidelity are now getting into the game, but if they actually needed such a fund, they would have bought shares of the Canadian Purpose Bitcoin ETF a long time ago 🙄

$BTC #bitcoinETF

👨🏻‍💻BTC's correlation with the Nasdaq 100 has dropped to 3% this month, hitting its lowest level in three years. On average, this figure was 60% in 2022.

💁🏻‍♂️Bitcoin is up 14% this month, while the Nasdaq index of the 100 largest and most actively traded US companies is only 3%.

👾And although historically a drop in the correlation of BTC with traditional assets could mean further growth, most likely this decline is the result of a strong rise in BTC against the backdrop of positive news from ETFs. #bitcoinETF $BTC

Crypto Rover analyzed the impact of 11 new Bitcoin ETFs on the BTC price

In a new video, YouTuber Crypto Rover shared his thoughts on the impact of 11 recently adopted Bitcoin spot ETFs on the price of the major cryptocurrency. Citing information from Bloomberg, he spoke of a colossal influx of $4 billion on the first day of trading.

Indeed, on January 11, the price of Bitcoin almost tested the $49,000 level, then it rolled back to the beginning of the $46,000 range and from this point resumed its recovery to $46,600.

According to Rover, even an injection of 1% of the trillion-dollar institutional capital controlled by the funds will lead to a significant increase in prices.

Having delved into technical analysis, the YouTuber came to the conclusion that the price of Bitcoin is growing exponentially, and, in his opinion, upward momentum should be observed throughout 2024.

#BitcoinETFs! #BitcoinWorld #Bitcoin-BTC
#bitcoinETF #BitcoinETF💰💰💰
$BTC

Tom Lee: “In 5 years, Bitcoin will be trading at $500,000”

Tom Lee is confident that Bitcoin is quite capable of growing to these levels, since its supply is limited to 21 million coins. Growth will also be supported by increased demand for Bitcoin thanks to the long-awaited approval of spot Bitcoin ETFs in the United States.

Previously, Sean Farrell, head of digital asset development at Fundstrat, also predicted significant growth for Bitcoin if cryptocurrency ETFs were approved in the United States. According to him, the daily demand for Bitcoin will reach $125 million, while the daily supply will be only $25 million. The equilibrium price will have to increase in order for the daily supply to match the daily demand. Therefore, the settlement price should be between $140,000 and $180,000 before the Bitcoin halving occurs in April 2024, Farrell emphasized.

#BitcoinWorld #Bitcoin-BTC #BitcoinETFs! #bitcoinETF #BitcoinETF💰💰💰
$BTC

HashKey: Ten Companies Preparing to Launch Spot Crypto ETFs in Hong Kong

According to the chief operating officer of China's first licensed exchange, Livio Weng, seven or eight spot products are already in the actual development stage.

The HashKey exchange itself mainly deals with spot ETFs. This summer, the firm became the first licensed trading platform in Hong Kong to offer retail services.

Earlier, the Securities and Futures Commission of Hong Kong (SFC) and the Hong Kong Monetary Authority announced that they are ready to accept and consider applications for the launch of spot cryptocurrency exchange traded funds (ETFs).

#bitcoinETF
$BTC

As the spot Bitcoin ETF fire continues to burn, the United States Securities and Exchange Commission (SEC) has acknowledged receiving an application from Valkyrie Investments.

#bitcoinETF #SECNews #crypto2023

#Coinbase expresses confidence that the #SEC will approve a Spot Bitcoin ETF.

#bitcoinETF #bitcoin #BTC

Bought the rumor, indecisive on the coming news.

My Tuesday longs are already printing. Wednesday is unpredictable.

Let me know your opinion for wednesday's BTC futures.

One thing I know for sure, SEC is will not approve any ETFs on Wednesday. But they might be some progressive news to keep the bullish momentum.

Don't #fomo
Just #dyor
#bitcoinETF

Wednesday's BTC futures?

The spot Bitcoin ETF will be different that the Bitcoin ETNs launched before with shareholders owning a portion of fund's underlying assets.#bitcoin #bitcoinETF

VanEck Liquidates Its Bitcoin Futures ETF

A week after launching spot Bitcoin ETFs in the US, VanEck is closing its BTC futures fund

Asset manager VanEck announced the liquidation of its Bitcoin futures ETF. Reasons for this decision include declining productivity and declining investor interest.

On January 17, VanEck's board of trustees approved the liquidation of the BTC futures ETF on the Cboe BZX exchange. The fund appeared in November 2021 and invested in contracts based on the first cryptocurrency.

The decision follows the US Securities and Exchange Commission's (SEC) approval of spot Bitcoin ETFs, which was one of the reasons for the closure.

#Bitcoin-BTC #BitcoinWorld #etf #SEC #bitcoinETF
$BTC

The 10 BTC-ETF traded volume was three times the daily volume of all 500 ETFs launched in 2023

On January 16, the trading volume of shares of 10 spot Bitcoin exchange-traded funds (ETFs) amounted to $1.8 billion, of which $1.6 billion was accounted for by products of Grayscale, BlackRock and Fidelity. That's more than triple the daily performance of the 500 ETFs launched in 2023. Their total was $450 million, with the top earner earning $45 million, according to Bloomberg senior analyst Eric Balchunas.

Source: Twitter (NYSE:TWTR).com
#etf #BTCETF #BTCETFSPOT #BitcoinETF💰💰💰 #bitcoinETF
$BTC

Billionaire Rubenstein: BlackRock's Bitcoin Love - A Mighty Boost for Crypto Chuckles!

Billionaire Brainiac Rubenstein, co-founder of The Carlyle Group, gives a thumbs-up to BlackRock's Bitcoin ETF move. He hints, "If BlackRock's in, Bitcoin's here to stay!" Rubenstein's playful chat with Bloomberg reveals that even while crypto skeptics giggle, big shots like BlackRock are joining the Bitcoin bash.

Rubenstein isn't joining the parade himself, but he's having some "what if" regrets. Imagine if he grabbed Bitcoin at $100—like buying a unicorn for pocket change! 🦄💸 Beyond the U.S., the world's crypto-curious, and Rubenstein suggests they're after the ultimate secret party trick: untraceable trades! 🎉

#bitcoin #bitcoinETF #blackrock

#write2earn #BITCOIN #ETF OUTFLOWS SIGNAL MARKET SHIFT: INSIGHTS AND ANALYSIS #bitcoinETF #BTC_ANALYSIS

Over the last three days, a cluster of 10 spot-Bitcoin exchange-traded funds experienced their most significant outflow since they launched in January. This marks a shift from the previous rush for exposure that had propelled the token to its highest-ever value.
Between Monday and Wednesday, a total of $742 million exited these ETFs. This reflects withdrawals from the Grayscale Bitcoin Trust and a slowdown in subscriptions for similar offerings from companies like BlackRock Inc. and Fidelity Investments.
Despite this recent outflow, these funds have still attracted a total of $11.4 billion in net inflows since their inception, making it one of the most successful launches for this type of ETF.
On Wednesday, Bitcoin surged more than 5% in the US after signals from the Federal Reserve hinted at potential interest-rate cuts, lifting various asset classes. However, this upward momentum stalled in Asia on Thursday, even as global stocks and gold continued to rise, with the ETF outflow data making its mark on the markets.
Following the Fed's decision, cryptocurrency regained some steam, but according to Chris Weston, head of research for Pepperstone Group, more effort is needed to sustain this momentum. As of 7:33 a.m. in London, Bitcoin was trading at $67,300, approximately $6,500 below its all-time high reached on March 14 amid heightened enthusiasm about the ETFs and the impending reduction in the token's supply growth.

On March 12, spot Bitcoin ETFs recorded a net inflow of $1 billion

March 12 marked another day of record inflows into newly approved Bitcoin exchange-traded funds in the United States.

According to BitMEX Research, on March 12, the net inflow of bitcoins into the ETF exceeded $1 billion. At the same time, Blackrock's IBIT product, which this week had assets under management exceeding 200,000 BTC, received a record inflow of $849 million.

The cryptocurrency also saw a record inflow of 14,706 BTC. Since January 11, 2024, the total net inflow of Bitcoin ETFs has reached $4.1 billion.

As of yesterday, spot Bitcoin ETFs accounted for more than 90% of the daily trading market share of BTC-based ETFs, while Bitcoin futures ETFs now account for only 10%.

Spot Bitcoin ETFs in the US have seen great success, exceeding even the most optimistic expectations, noted GSR analyst Brian Rudick.
Their influx of more than $10 billion in just two months suggests that most expected to be able to participate in the first year. And there are arguments for why inflows may increase...
#etf #bitcoinETF #Bitcoin‬ #HotTrends #CryptoNews
$BTC

#write2earn Navigating #Bitcoin 's Recent Trends: #Grayscale Influence and Price Analysis #bitcoinETF #Bullmarlet
$BTC

Over the past five days, the significant outflow of Bitcoin ($BTC ), driven by the selling of Grayscale Spot ETF, has been balanced by a substantial inflow of $418 million on Tuesday. This indicates a likely decrease in Grayscale outflows soon, paving the way for renewed Bitcoin buying momentum.
During this period, Grayscale Bitcoin Spot ETF (GBTC) has been consistently selling Bitcoin into the market, coinciding with dwindling inflows in other 9 Spot Bitcoin ETFs. Surprisingly, despite these sell-offs, the Bitcoin price has seen an upward trend.
Who else has been participating in Bitcoin transactions? Much attention has been on Spot Bitcoin ETFs, with Grayscale alone selling over $500 billion worth of Bitcoin since January 11, almost half of its holdings, in just two months. Despite this massive sell-off, other Spot Bitcoin ETFs have made significant purchases, as seen with Tuesday's $418 million net inflow.
However, the question arises: who was buying during the five days when these 9 ETFs were making minimal purchases? It seems that adoption of Bitcoin is on the rise, with influential individuals becoming increasingly aware of its potential. With just a few billionaires entering the market, the supply of Bitcoin could rapidly decrease.
Already, the daily mined supply of Bitcoin is being bought up multiple times over, particularly by Spot Bitcoin ETFs. When considering factors like the impending halving in April and notable investors like "Mr 100," a supply shock seems imminent.
In terms of Bitcoin's next move, examining the short-term hourly chart reveals a potential bearish pattern forming, with the price hovering around support at $69,450. However, there's a possibility of an upside breakout if the price remains within the larger triangle and doesn't drop below $68,000.
Zooming out to the 4-hour timeframe, Bitcoin appears to be forming a bullish inverse head and shoulders pattern, with the neckline breached upwards.