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Spot Bitcoin ETFs Record 5 Consecutive Day of Outflows; Analyst Declares Cool-Off ‘Totally Normal’

Spot Bitcoin ETFs Record 5 Consecutive Day of Outflows; Analyst Declares Cool-Off ‘Totally Normal’U.S. spot bitcoin exchange-traded funds (ETFs) have seen outflows for the fifth consecutive day since April 12, with a reduction totaling $4.3 million during Wednesday’s trading sessions. ETF Analyst’s Perspective: Recent Bitcoin ETF Outflows Within Expected Norms The newly launched spot bitcoin ETFs have been active on the stock market for 99 days, having commenced […]

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Study: Q1 Spot-Traded Volumes of Top 10 Exchanges Nearly Double to $4.29 Trillion

Study: Q1 Spot-Traded Volumes of Top 10 Exchanges Nearly Double to .29 TrillionIn the first quarter of 2024, spot trading volumes of the top ten centralized exchanges (cex) topped $4.29 trillion, a 95.3% increase from the previous quarter. Despite facing legal challenges Binance remained the largest cex platform with a market share of 50%. The top crypto asset manager Grayscale’s converted GBTC exchange-traded fund (ETF) was the […]

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Bitcoin Miners Remain Optimistic About Future Despite Anticipated Revenue Loss

Bitcoin Miners Remain Optimistic About Future Despite Anticipated Revenue LossAlthough Bitcoin’s halving is expected to result in reduced block rewards for miners, several CEOs of bitcoin mining firms maintain a bullish outlook. In addition to investing in more efficient equipment, miners believe spot bitcoin exchange-traded funds (ETFs) will continue to drive up the value of the cryptocurrency. Bitcoin Halving to Cost Miners Billions in […]

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Blackrock Closes in on Grayscale in the Battle for the ‘World’s Largest’ Bitcoin ETF

Blackrock Closes in on Grayscale in the Battle for the ‘World’s Largest’ Bitcoin ETFU.S. spot bitcoin exchange-traded funds (ETFs) experienced three consecutive days of net outflows, with a loss of $58 million on Tuesday. Leading the outflow for the day was Grayscale’s GBTC. After Another Day of Outflow, IBIT Nears GBTC as Potential Leader in Spot Bitcoin ETF Market Grayscale’s GBTC continued to report reductions in its bitcoin […]

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Monday’s Market Action Sees $36.7 Million Outflow From US Spot Bitcoin ETFs

Monday’s Market Action Sees .7 Million Outflow From US Spot Bitcoin ETFsOn Monday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced another round of outflows, shedding $36.7 million since the outflows on Friday. Additionally, after the close of Monday’s market, Grayscale’s Bitcoin Trust (GBTC) offloaded 2,524.1 bitcoins valued at $159.25 million. Blackrock’s IBIT and Fidelity’s FBTC Lead in Bitcoin Accumulation as GBTC Sells Off Since the trading […]

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US Spot Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility

US Spot Bitcoin ETFs See .1M Outflow; GBTC Divests 2,048 BTC Amid Market VolatilityData shows that U.S. spot bitcoin exchange-traded funds (ETFs) experienced negative outflows on Friday, totaling $55.1 million, with Grayscale’s Bitcoin Trust (GBTC) seeing another notable decrease. Metrics from Thursday reveal GBTC held 316,193.43 bitcoins, but after a decline of 2,048.23 bitcoins, the fund’s holdings reduced to 314,145.2 bitcoins. Blackrock and Fidelity Absorb Bitcoin Despite GBTC’s […]

USA to forge AI partnership with Nigeria for economic growth