Bitcoin Tops $47K as Spot Bitcoin ETFs Book One of Their Best Days
Spot bitcoin ETFs attracted Thursday their third-largest net inflows since debut, increasing their holdings by 9,260 BTC.
Binary trading platforms with better performance and payouts
Bitcoin ETF
Spot bitcoin ETFs attracted Thursday their third-largest net inflows since debut, increasing their holdings by 9,260 BTC.
With a roster of bitcoin ETFs already trading, companies will need to figure out how to differentiate their products.
The recently launched spot bitcoin ETFs, excluding Grayscale’s GBTC, added nearly another 5,000 tokens to their holdings yesterday, and now at more than 192,000 BTC, hold more of the crypto than MicroStrategy (MSTR), whose total stood at 190,000 as of the end of January.
GBTC is expected to lose further funds to newly created ETFs unless there is a meaningful cut to its fees, the report said.
All but one of the recently launched spot bitcoin exchange-traded funds (ETF) charge a lower fee than the largest gold ETF, making them a cheaper investment into a gold-like asset.
MicroStrategy (MSTR), the software firm whose executive chairman is bitcoin maximalist Michael Saylor, reported weaker-than-expected fourth quarter earnings on Tuesday, but the majority of its conference call presentation focused on the crypto.
The updated S-1 document brings the spot Ethereum ETF application more “in line” with the recently approved spot BTC ETF prospectus, one analyst noted.
“Tokenization” — the biggest buzzword in crypto markets currently — means not just bringing new digital assets on-chains, but, in the future, originating and settling them on-chain as well.
The total derivatives trading volume on CME rose 35% in January to $94.9 billion, the highest since October 2021.
Only 17 days after its launch, the BlackRock iShares Bitcoin Trust (IBIT) has become one of the top five exchange-traded funds (ETFs) of 2024 based on inflows, according to data from Bloomberg Intelligence.