Over a billion flows into bitcoin ETFs, yet the price isn’t rising — an analyst explains why
Bitfinex analyst argue that ETF inflows can be misread as immediate spot demand.
Binary trading platforms with better performance and payouts
bitcoin spot ETF
Bitfinex analyst argue that ETF inflows can be misread as immediate spot demand.
U.S. BTC ETFs added $458 million, suggesting institutional buyers are absorbing the weekend shock that briefly sent BTC to $63,000.
As traditional investment products face declining yields, savvy asset managers must consider emerging opportunities within the cryptocurrency space to meet growing client demand.
The first and only U.S. federally chartered crypto bank, Anchorage Digital, is taking on the custody role for a leading issuer of crypto exchange-traded funds (ETFs), 21Shares, the companies said in a Thursday statement.
Commissioner Caroline Crenshaw of the U.S. Securities and Exchange Commission (SEC) told senators on Thursday that rampant fraud in crypto markets left her unwilling to approve bitcoin exchange traded products earlier this year.
Reports swirled that the SEC was giving final comments to issuers and may approve multiple spot-based bitcoin ETF applications very soon.
Bitcoin cratered almost 10% below $41,000 early Wednesday around the time Matrixport’s report about warning of a spot BTC ETF decline, but it was more likely due to a leverage flush as the market overheated, a K33 analyst said in an interview.
Impulsive trading in crypto markets is nothing new and the movement in the price of bitcoin (BTC) over the past two days over the addition – and then removal – of BlackRock’s proposed ticker for its spot bitcoin ETF on the Depository Trust & Clearing Corp.’s website is just another example.
Blockchain analytics firm CryptoQuant’s models predict that $155 billion will flow into the bitcoin market cap should the ETFs be approved.
The decision, reported by Reuters, boosts the odds that Grayscale Investments will be able to turn its Grayscale Bitcoin Trust (GBTC) into a more investor-friendly ETF.