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Major Bitcoin owners made extraordinarily large purchases in a single day, totaling 47,500 BTC. CEO of CryptoQuant Ki Young Ju offered shrewd analysis, predicting a dramatic change in the market environment. Bitcoin Resilience: Less Stress from the Fed Bitcoin has surpassed $64,500 today, solidifying its position as the most popular cryptocurrency despite earlier losses. Since…
Greyscale, the world’s largest asset manager, is challenging to maintain its dominance in the spot bitcoin ETF market. Despite a significant capital withdrawal from the GBTC core, Greyscale remains adamant. Ten has unveiled plans for a smaller bitcoin ETF that features more competitive fees, to fend off competition from rivals. Grayscale’s Response to Market Trends…
Today, Eric Balchunas, an ETF analyst at Bloomberg, disclosed via social media that BlackRock has made revisions to its Bitcoin ETF prospectus. This update incorporates the addition of several new authorized participants, marking a significant development in the realm of digital assets. Notably, names such as Citadel, Goldman Sachs, UBS, and Citigroup emerge as fresh…
Recent data from SoSoValue has shed light on the movement within Bitcoin spot ETFs. On March 22nd, these ETFs experienced a notable net outflow totaling $51.6 million. This movement reflects a period of uncertainty and fluctuation in the market, prompting investors to reconsider their positions. Grayscale ETF GBTC: A Singular Event One standout in this…
BlackRock, the world’s largest asset management firm, is extending its embrace of Bitcoin Exchange Traded Funds (ETFs). Following its recent application to the Securities and Exchange Commission (SEC) for the Strategic Income Opportunities Fund, BlackRock is now seeking approval for its Global Allocation Fund (MALOX) to include Bitcoin. Bitcoin Enriching BlackRock’s Strategic Investment Landscape BlackRock,…
In the dynamic landscape of financial markets, managing a colossal $1.4 trillion in assets, LPL Financial has embarked on a cautious journey toward potential Bitcoin Exchange-Traded Funds (ETFs). The firm’s executives, led by Rob Pettman, are set to conduct a meticulous evaluation over the next three months to determine which new funds will be presented…
The Securities and Exchange Commission (SEC) chairman voiced concerns about Bitcoin to CNBC recently. However, despite the approval of multiple ETFs for the cryptocurrency, reservations persist about its nature. The regulatory body embraces some facets of the digital asset, therefore indicating a nuanced stance. The chairman emphasizes the need for investors to recognize Bitcoin’s speculative…
JPMorgan’s analysis presents a cautious forecast for bitcoin mining stocks, anticipating a slowdown due to spot bitcoin ETFs. However, analysts Reginald Smith and Charles Pearce assert that while mining stocks may decelerate, they’ll likely stay linked to Bitcoin prices. Moreover, the early stages of spot bitcoin ETF trading validated this foresight, witnessing a sell-off in…
In a long-awaited announcement, the U.S. Securities and Exchange Commission (SEC) has officially disclosed its decision regarding spot Bitcoin Exchange-Traded Funds (ETFs). This regulatory approval marks a significant milestone for the cryptocurrency market. Background and Market Response Despite the anticipation of the announcement, the revelation did not trigger any substantial shifts in the Bitcoin market….
On Tuesday afternoon, a hacker targeted the U.S. Securities and Exchange Commission’s official Twitter account, unfolding an alarming event. The hacker disseminated a misleading message that falsely announced the approval of Bitcoin Exchange-Traded Funds (ETFs) by the SEC. The cryptocurrency market felt the immediate repercussions of this security breach. Bitcoin’s price surged suddenly, peaking at…
Jay Clayton, the former president of the U.S. Securities and Exchange Commission (SEC), resigned recently. However, just days before his resignation, he filed a lawsuit against Ripple in December 2020. In a recent online interview, Clayton shared insights on the agency’s potential approval of Bitcoin spot ETFs this week. Moreover, he expressed his belief that…
Cryptocurrency markets faced a midday downturn today, triggering widespread discussions. Notably, Matrixport’s report has garnered significant attention, drawing criticism from Bloomberg analyst Eric Balchunas. However, Balchunas remains optimistic about the prospects of a Bitcoin ETF, countering Matrixport’s pessimistic stance. Market Turmoil: Bitcoin’s Sudden Plunge Raises Questions As Bitcoin experienced a swift drop from $45,000 to…