Bitcoin & crypto can save you. #BitcoinForever #friend3 #Cho | HodlOnPainEnd on Binance Square

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Bitcoin & crypto can save you.#BitcoinForever #friend3 #ChooseWell #Inflation_Rate #Protectyourfunds

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Bitcoin has once again regained a trading price of $42,000 after a week characterized by downtrends. The price drop was fueled by a massive sell-off recorded by the asset management firm Grayscale on its flagship ETF product. Grayscale’s Selling Spree Slows Down On January 10th, Grayscale’s GBTC was one among 11 spot Bitcoin exchange-traded funds (ETFs) that got approved. The asset management company took the leading position in terms of trading volume, holding nearly half of the market share in just 24 hours after approval. Reports confirmed on January 22nd that the bankrupt crypto derivatives exchange FTX sold off almost $1 billion worth of GTBC. Several investors followed the same path, pulling their funds from Grayscale’s GBTC product. In one instance, the firm saw more than $515 million exit its platform in a single day. Presently, the selloff has reduced as Grayscale’s total sales total $4.3 billion, signifying a possible slowdown in the selling spree. The massive exodus recorded in Grayscale’s Bitcoin ETF business has benefited other financial institutions offering the same product. For example, BlackRock’s IBIT and Fidelity’s FBTC continued to record inflows throughout the week while Grayscale saw outflows. Meanwhile, Bitwise became the first ETF issuer to publicly disclose the Bitcoin wallet address holding its ETF proceeds. While the move may likely bring more investors into its ecosystem, the firm noted that the action will bolster transparency. Since then, the company has seen donations poured into its wallet address. These additional funds will be issued to investors in Bitwise’s BITB investment vehicle. BTC Trades at $42K After a troubling week for the leading cryptocurrency, it has bounced back to a current trading price of $42,000. BTC’s downward spiral earlier this week saw its lowest on January 23rd when it traded around $38,600. However, the asset began seeing uptrends earlier today, causing its latest impressive price performance. #Write2Earn: #TradeNTell #friend3

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Visualizing the first 12 days of trading for the Bitcoin ETFs. 🟩131,000 Bitcoin bought by ETFs 🟥Grayscale has sold 117,000 Bitcoin ⬜️10,800 Bitcoin are mined every 12 days 🟧5,400 BTC will be mined in 12 days post halving 🚨The ETF's have bought over 145 days' worth of supply in 12 trading days alone!

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The Pentagon: We’re unable to track $3.8 trillion dollars of military spending. The U.S. Treasury: We’re unable to track $5 trillion dollars of pandemic spending. The White House: We’re unable to track $6.2 billion dollars of aid to Ukraine. The IRS: You owe us $5.37 pay it right now or you’re going to jail. #TradeNTell #Write2Earn

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Good evening. For all the "Middle East will pump #Bitcoin - but the ETF didn't work" BlackRock Bears. Saudi Arabia's sovereign wealth fund is $776 billion. BlackRock's Assets Under Management is $10 TRILLION. A 50% allocation (BTW - NEVER GONNA HAPPEN) to #Bitcoin by your Saudi Saviours is $388 Billion. Just a 5% allocation by BlackRock ALONE is $500 Billion. Grow up and stop being a BlackRock Bear - you sound dumb. You should be more pumped about the ETF for price appreciation AND adoption than any Middle East dreams anyone is trying to sell you or any other single development in #Bitcoin since #Bitcoin 's inception. #TradeNTell #friend3 #Write2Earn

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Crypto index fund manager Bitwise has led the way by becoming the first Bitcoin exchange-traded fund (ETF) issuer to publicly reveal its Bitcoin address holdings. The move comes about two weeks after the products were made available for trading. Bitwise Holds $453M in BTC In a Wednesday post on X (formerly Twitter), the firm disclosed that its trust (BITB) currently holds about $453 million in Bitcoin. The San Francisco-based digital asset manager noted that the decision to reveal its digital wallet addresses is aimed at enhancing transparency and fostering trust. “Now anyone can verify BITB’s holdings and flows directly on the blockchain. Onchain transparency is core to Bitcoin’s ethos. We’re proud to walk the walk with BITB. Publishing on-chain addresses is a first step toward increasing public transparency. As infrastructure evolves, we hope to do more, such as working with firms like the Hoseki app to provide real-time cryptographic attestations”, the firm said. Through this move of publishing its Bitcoin address holdings, Bitwise aims to position itself at the forefront of regulatory compliance and investor communication. The firm’s willingness to disclose this information can be viewed as a demonstration of its commitment to addressing concerns related to the verification of asset backing, building credibility for Bitcoin investment products and setting an industry standard. Bitwise’s Spot Bitcoin ETF Bitwise is one of the several spot Bitcoin exchange-traded funds (ETF) issuers that the United States Securities and Exchange Commission (SEC) officially gave approval earlier this month to offer the product to American investors. On the first day of trading, the asset manager saw around $238 million of inflows. Last week, the firm’s CEO Hunters Horsley revealed a $370 million in assets under management (AUM) within its inaugural four days of trading. Additionally, the company pledged earlier this month to allocate 10% of profits from the Bitwise Bitcoin ETF (BITB) towards supporting Bitcoin open-source development. #Write2Earn: #TradeNTell

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