ARK Invest CEO Cathie Wood says the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the US will likely have a negative impact on the price of the flagship cryptocurrency. In a new interview on CNBC, Wood says investors eager to take profits will “sell on the news” of securities regulators giving their […]
The post Anticipated Bearish Impact of Potential Spot Bitcoin ETF Approval Likely To Be Short-Term, Says Cathie Wood appeared first on The Daily Hodl.
Bitcoin (BTC) exchange-traded funds (ETFs) currently only represent a small fraction of the top crypto asset’s supply, according to a CoinGecko researcher. In a new analysis, Lim Yu Qian notes that Bitcoin ETFs hold a total of roughly 793,034 BTC, which represents only 3.4% of BTC’s total maximum supply. That number includes Grayscale Bitcoin Trust […]
The post TradFi To Have ‘Outsized Influence’ Over Bitcoin? ETFs Currently Hold 3.8% of BTC Maximum Supply: CoinGecko appeared first on The Daily Hodl.
A popular analyst is outlining one bearish scenario for Bitcoin (BTC) after the possible approval of a spot market BTC exchange-traded fund (ETF). Pseudonymous analyst DonAlt tells his 55,600 subscribers of the TechnicalRoundup YouTube channel that Bitcoin could collapse by more than 25% from its current value. “If your position is worse than a $32,000 […]
The post There’s a ‘Good Chance’ Bitcoin Nosedives by Over 25%, According to Top Crypto Analyst – Here Are His Targets appeared first on The Daily Hodl.
The chief executive of Coinbase says that the crypto exchange will receive a boost from new capital coming into the space via Bitcoin (BTC) exchange-traded funds. In a new interview on CNBC Television, Coinbase CEO Brian Armstrong says that expected BTC ETFs will soon inundate the crypto industry with institutional capital and new users, complementing […]
The post Brian Armstrong Says Coinbase Stands To Benefit From Large Incoming Pools of Capital to Crypto via Bitcoin ETF appeared first on The Daily Hodl.
Bitwise has released a commercial for a spot Bitcoin (BTC) exchange-traded fund (ETF) in apparent anticipation of the product’s regulatory approval. Bitwise, the world’s largest crypto index fund manager, is one of a slew of firms that have filed for a spot BTC ETF with the U.S. Securities and Exchange Commission (SEC). The new Bitwise […]
The post Bitwise Releases Commercial for Crypto Index Fund Manager’s Spot Bitcoin (BTC) ETF appeared first on The Daily Hodl.
CNBC contributor and options trader Jon Najarian says one catalyst could send Bitcoin (BTC) on a sudden parabolic move. In a new interview with trader Scott Melker, Najarian says that he believes that the U.S. Securities and Exchange Commission (SEC) will approve spot Bitcoin exchange-traded funds (ETFs), and that would send the crypto king soaring […]
The post Bitcoin (BTC) Will Surge by up to 30% in Two Days on the Back of This Catalyst, According to CNBC’s Jon Najarian appeared first on The Daily Hodl.
On-chain analyst PlanB says that one event could push Bitcoin (BTC) to a new all-time high in as little as four months. In a new ask-me-anything (AMA) session, the quantitative analyst tells his 82,400 YouTube subscribers that the approval of spot market Bitcoin exchange-traded funds (ETFs) could cause the crypto king to surge to new […]
The post One Catalyst Could Send Bitcoin Flying to New All-Time High in Four Months, According to Quant Analyst PlanB appeared first on The Daily Hodl.
The U.S. Securities and Exchange Commission (SEC) is reportedly discussing crucial technical details with financial firms that applied for spot market Bitcoin (BTC) exchange-traded funds (ETFs). According to a new report by Reuters, industry executives say that the deliberation between the regulatory agency and those who placed bids for BTC ETFs is a sign that […]
The post US SEC and Financial Firms Now Discussing ‘Key Technical Details’ of Spot Bitcoin ETF Applications: Report appeared first on The Daily Hodl.
A massive surge in crypto exchange flows suggests institutions could be preparing for the potential approval of spot market Bitcoin (BTC) exchange-traded funds (ETFs), according to the market intelligence firm Glassnode. Glassnode notes in a new analysis report that the 30-day simple moving average (SMA) of Bitcoin flows in and out of exchanges grew from […]
The post Massive Uptick in Exchange Volumes Could Suggest Growing Institutional Demand Ahead of ETF Approval: Glassnode appeared first on The Daily Hodl.
Nearly $1.8 billion flowed into crypto investment products over the last 10 weeks, which hasn’t been seen since Bitcoin futures were launched in October 2021.
Bitcoin (BTC)-related investment products have become the “main beneficiary” of recent investor interest in crypto, amid growing anticipation of a spot Bitcoin ETF approval in the United States.
A total of $1.76 billion of investors’ funds have flowed into crypto products over a 10-week period, making up for the largest inflows over such a period since October 2021 — when Bitcoin futures launched, according to a Dec.
Record inflows! Last 10 weeks now total U$1.76bn inflows, the highest on record since October 2021’s futures-based ETF launch in the US.
— CoinShares (@CoinSharesCo) December 4, 2023
Week 49 inflows: U$176 million
– #Bitcoin –
$BTC: U$133m inflows
Short Bitcoin: US$3.6m inflows
Trading volumes in ETPs remain… pic.twitter.com/Elon1F2pHl
CoinShares’ weekly reports over the past 10 weeks shows at least $1.44 billion of inflows went to Bitcoin investment products over the period, as the price of Bitcoin has gained from $26,600 to $37,700 on Dec.
Meanwhile, the latest week ending Dec. Bitcoin (BTC) investment products were the “main beneficiary,” said Butterfill, recording $132.8 million of inflows over the past week, while Ether (ETH) and Solana (SOL) products tallied $30.8 million and 4.3 million, respectively.
Related: Bitcoin prices should ‘logically’ correct in January, but crypto’s a ‘wild card’
The inflows come as spot Bitcoin ETF applications are inching closer toward potential approval in the U.S.
Some Bitcoin futures-based products could be reaping benefits of the recent excitement over approvals, said James Edwards, cryptocurrency analyst at fintech firm Finder in a previous interview with Cointelegraph.
