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The approval of the BTC ETFs appears to be imminent. However, how will the market react to this likely approval? Here's a predication. #crypto #bitcoin #spotEtf #BTCSpotETF #BitcoinspotETF #altcoinbuzz #bullrun https://lnkd.in/gAixSHK5

With the launch of the spot Bitcoin ETF last Thursday, there was nearly $1.2B of inflows from institutions, easily the highest weekly volume this year and the second most all-time, trailing only the $1.5B seen after the launch of futures-based Bitcoin ETFs back in October 2021. To no surprise the majority of this activity was focused on Bitcoin ($1.14B) and was heavily concentrated within the United States ($1.24B). Yet Ethereum had a relatively modest level of activity during this time, with just $26M of volume. This may begin to shift, however, as users begin to position for the prospect of a spot Ethereum ETF as well as other events including the upcoming Dencun upgrade to Ethereum, the first major upgrade to the network since Shapella in April 2023. Solana also experienced low volumes ($0.5M), but is poised for increased demand too, as stronger protocols continue to build on the network and as we get closer to Firedancer mainnet, a high-performance validator client which will significantly improve the network's efficiency and transaction processing capabilities. h/t CoinShares

BlackRock’s IBIT Outshines Canadian Bitcoin ETFs Among the new entrants which include BlackRock (IBIT), Fidelity (FBTC), Ark 21Shares (ARKB), Invesco (BTCO), Bitwise (BITB), Valkyrie (BRRR), Franklin Templeton (EZBC), WisdomTree (BTCW), and VanEck (HODL), BlackRock’s IBIT spot Bitcoin ETF has emerged as a formidable player, surpassing the combined assets under management (AUM) of all Canadian Bitcoin ETFs. As of the latest data from K33 Research, IBIT holds 56,621 BTC, valued at approximately $2.5 billion, overtaking the AUM of prominent Canadian ETFs like CI Galaxy Bitcoin ETF and Purpose Bitcoin ETF, which sit at 55,016 BTC or $2.4 billion. BlackRock and Fidelity spot Bitcoin ETF vs All Canadian ETFs. Fidelity’s US spot BTC ETF, FBTC, also follows closely, holding approximately 51,064 BTC as of the latest update. The substantial inflows into these spot ETFs, especially BlackRock’s IBIT and Fidelity’s FBTC, which have recorded inflows of $208.2 million and $198.4 million, respectively, underscore the growing investor interest and confidence in these financial products. #btcetf #researchanddevelopment #blockchain

Bitcoin ETFs Achieve Record $1 Billion in Daily Inflows The United States-based spot Bitcoin (BTC) exchange-traded funds (ETFs) accomplished a remarkable feat by attracting over $1 billion in net inflows for the first time, establishing a new daily record. On March 12, the largest-ever daily inflow for Bitcoin ETFs was witnessed, totaling $1.045 billion. This surge was primarily fueled by BlackRock's iShares Bitcoin ETF (IBIT), contributing $849 million to the overall inflow. Other ETFs, such as ARK 21Shares Bitcoin ETF (ARK), VanEck Bitcoin Trust ETF (HOLD), and Fidelity Advantage Bitcoin ETF (FBTC), made comparatively lower contributions of $93 million, $82.9 million, and $51.6 million, respectively, alongside Grayscale's outflows of $79 million. As of today, BlackRock holds 215,637 BTC, ranking second only to Grayscale, which holds 387,763 BTC, which marks a significant decrease from the 619,360 BTC held before the Grayscale's ETF went live on January 11, 2024. #bitcoin #etfs #btc #bitcoinetf image source: stormgain

Bitcoin’s recent price drop is not attributed to the introduction of Bitcoin ETFs. Despite hitting a multi-year high of $49,000 on January 11, the subsequent decline of over 18% has raised questions about the impact of the U.S.-based #Bitcoin spot #ETF launches on the market. https://lnkd.in/ed6zFjUA

"Glassnode Forecasts $70 Billion Capital Inflow with Bitcoin ETF Approval" According to Glassnode, a leading blockchain analytics firm, the approval of the Bitcoin ETF is expected to attract a significant amount of capital. Their recent report suggests that roughly $70 billion in new investment could flow into Bitcoin after the ETF is approved, potentially pushing its price higher. Glassnode's analysis assumes that a significant portion of funds invested in traditional markets such as stocks, bonds, and gold may be diverted to Bitcoin. They emphasize that this influx of capital has the potential to significantly impact the Bitcoin market and push its price to higher levels. The estimated share of projected inflows is approximately $60.6 billion from a mix of stocks and bond ETFs and approximately $9.9 billion from the gold market. #Glassnode #BitcoinETF #capitalinflow #investments #Bitcoinmarket #priceincrease #traditionalmarkets #stocks #bonds #gold

ProShares, a leading U.S. ETF issuer, plans to launch a series of Bitcoin ETFs with indirect exposure to BTC, coinciding with the onset of spot Bitcoin ETF trading. The proposed ETFs, including Plus, Ultra, UltraShort, Short, and ShortPlus, seek daily investment results linked to Bitcoin's performance through BGCI. Plus Bitcoin ETF and Ultra Bitcoin ETF aim for 1.5x and 2x daily increases based on BGCI. The remaining three—UltraShort, Short, and ShortPlus—aim for inversely correlated outcomes at -2x, -1x, and -1.5x, respectively, emphasizing they don't directly short Bitcoin. This move followed Bitcoin's decline to around $43,000 post spot ETF launch. ProShares explores benefiting from downturns amid industry predictions, including ARK Invest CEO Cathie Wood's anticipation of a short-term sell-off. This filing occurred after the SEC approved the initial 10 spot Bitcoin ETFs on Jan. 10, with ProShares not part of the first wave. ProShares, known for BTC futures-linked ETFs, achieved significant growth with Bitcoin Strategy ETF (BITO) briefly reaching $2 billion AUM in January 2024. Additionally, ProShares offers Ether-related ETFs. #bitcoin #bitcoinetf #crypto #sec

The #cryptocurrency market continues to experience high levels of volatility, but Bitcoin is showing resilience. According to Michael Silberberg, Head of Investor Relations, Alt Tab Capital, while the recent #ETF outflows worth nearly 1 billion dollars have caused a retracement in the market, the price volatility of #Bitcoin is still within normal ranges. Although the initial record-breaking inflows into ETFs may begin to slow, it's worth noting that these ETFs have just been launched. Therefore, it will take some time for RIAs, marketers, and wealth managers to be allocated to the space. We see this as just the beginning of a long path of growth for this asset class. Full story here: https://lnkd.in/dPfznzCA