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$BTC $ETH $BNB Join the XM Community Today! Ready to take your trading journey to the next level? XM offers a world-class platform with tight spreads, lightning-fast execution, and a vast range of trading instruments. As a trusted global broker, XM is committed to providing you with the tools and support you need to succeed. Also trading competition 😜. JOIN NOW https://www.xmglobal.com/referral?token=JOnCokjnoS_2SY73nfkRZQ Why choose XM? * Competitive Spreads: Enjoy some of the lowest spreads in the industry. * Fast Execution: Execute your trades instantly, without slippage. * Variety of Instruments: Trade forex, stocks, indices, commodities, and more. * Educational Resources: Access a wealth of learning materials to improve your skills. * Excellent Customer Support: Our dedicated team is always ready to assist you. Don't miss out on this incredible opportunity! Sign up today and start trading with XM. #BlackRockETHOptions
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$BTC Whales Push Bitcoin Into Narrow Consolidation Range: What To Expect Next Analysts believe major Bitcoin stakeholders are influencing the cryptocurrency's price movements by strategically adjusting liquidity levels. This suggests a potential compression of Bitcoin's price range into a tighter band. While the long-term outlook remains bullish, analysts are divided on the near-term trajectory. Technically, Bitcoin has struggled to confirm a bullish breakout above $69,000. However, order book data suggests potential support around $65,000-$66,000. The key question is whether buyers can muster enough force to overcome the selling pressure and propel Bitcoin towards a new all-time high.
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Grayscale’s Ethereum ETF could bleed $110M daily in first month: Kaiko If Grayscale’s slated spot Ether ETF follows the same path as its Bitcoin one, there could be some short-term pressure on the price of ETH. Grayscale’s yet-to-launch spot Ether ETH tickers down $3,841 exchange-traded fund (ETF) could bleed an average of $110 million per day if it follows a similar pattern to its Grayscale Bitcoin Trust in the first month. The Grayscale Bitcoin Trust (GBTC) converted from a closed-end fund to an ETF on Jan. 11, which saw 23% of its assets under management at launch flow out in the first month — totaling $6.5 billion, Kaiko analysts wrote in a May 27 report. ETHE has an AUM of $11 billion. If it has “a similar magnitude of outflows” as GBTC, “this would amount to $110 million of average daily outflows or 30% of ETH’s average daily volume on Coinbase,” according to Kaiko. In the past three months, Grayscale’s ETHE traded at up to a 26% discount to its net asset value (NAV). Kaiko researchers noted that once it becomes a spot ETF, it’s “reasonable to expect” outflows or redemptions as that discount narrows. GBTC’s discount to NAV — how much it traded below the value of the fund’s holdings — sharply narrowed after it converted to an ETF. It traded at up to a 17% discount before its conversion but has narrowed over time, allowing many holders to exit GBTC at either the same price they got in or better. According to YCharts, it’s now at a 0.03% discount for May 24, a level it has hovered around since then. ETHE’s discount has already narrowed since the Securities and Exchange Commission gave the initial nod to spot Ether ETFs on May 23, though it has yet to begin trading as a spot ETF.
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3 tips for protecting Bitcoin profits amid Ethereum ETF mania Looking to protect the millions you've made from crypto during the Bitcoin-Ether ETF mania before this bull run comes crashing to an end? Here are a few ideas. Cryptocurrency’s leading act has been knocked off the top spot. The much-hyped launch of exchange-traded funds (ETFs) for Ethereum in the United States has sent Ether ETH tickers down $3,846 soaring more than 20% since May 20. Bitcoin’s BTC tickers down $68,446 performance looks lackluster by comparison. Opportunities to bet on crypto’s kingpin still abound — but not all are worth taking. If you’re an inveterate Bitcoin maxi, stop here. You already know the U.S. dollar is on the brink of collapse, and $200,000 BTC is right around the corner. For everyone else, here are three practical tips for protecting your crypto profits after this bull run loses steam. Realize Ether ETFs may not be bullish for Bitcoin The greenlight for Ether ETFs is bullish for crypto as a whole, but not necessarily for BTC — especially not in the short-term. With Ethereum dominating the market’s narrative in the coming months, expect BTC to retest prior price support levels.
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$$BTC BlackRock adds own Bitcoin ETF to income and bond funds One of the funds was BlackRock’s Strategic Income Opportunities Fund worth over $37.4 billion. BlackRock’s income and bond-focused funds have bought shares of the asset manager’s own spot Bitcoin BTC tickers down $68,474 exchange-traded fund (ETF) in the first quarter, regulatory filings show. BlackRock’s Strategic Income Opportunities Fund (BSIIX) snapped up $3.56 million worth of the iShares Bitcoin Trust (IBIT) while its Strategic Global Bond Fund (MAWIX) made a $485,000 purchase, according to May 28 Securities and Exchange Commission filings. The IBIT shares are a fraction of BSIIX and MAWIX’s investment portfolios, respectively worth $37.4 billion and 776.4 million. IBIT currently holds $19.61 billion worth of Bitcoin, according to BlackRock data from May 24. It only trails the converted Grayscale Bitcoin Trust (GBTC), which holds $19.76 billion as of May 28, Grayscale data shows. Spot Bitcoin ETFs globally now hold over 1 million Bitcoin worth over $68 billion — equating to nearly 5.10% of its over 19.7 million BTC circulating supply according to CoinGecko. Related: Mt. Gox-labeled wallets move billions in Bitcoin amid hopes of payback More than 600 United States investment firms have bought spot Bitcoin ETFs since they launched in January, recent SEC filings revealed. Morgan Stanley, JPMorgan, Wells Fargo, Royal Bank of Canada, BNP Paribas, UBS and hedge funds including Millennium Management and Schonfeld Strategic Advisors were some of the firm’s buying up Bitcoin funds. Millennium is the largest spot Bitcoin ETF accumulator, with $1.9 billion invested, including $844.2 million into IBIT and $806.7 million into the Fidelity Wise Origin Bitcoin Fund (FBTC). On May 23, BlackRock was one of eight firms to have its spot Ether ETH tickers down $3,843 ETF bid approved in the U.S. but the SEC must approve the firm’s Form S-1 filings for the products to start trading. Magazine: Hong Kong Bitcoin ETF launch in ‘top 20%,’ STRK scam suspect busted: Asia Express
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