Bitcoin

James

Gala

While Bitcoin and altcoins were waiting for the approval of the spot Bitcoin ETF, rumors of its disapproval caused BTC to experience a sudden and sharp decline.
At this point, Matrixport analysts, who recently argued that spot Bitcoin ETFs would be approved very soon and the BTC price would rise to $ 50,000, changed their minds.
Analysts, who stated in their last report that ETF approval may be delayed until the second quarter of 2024, claimed that the BTC price could fall between $ 36,000-38,000.
Related News: <a href="https://en.bitcoinsistemi.com/there-was-a-sudden-drop-in-bitcoin-btc-price-what-is-the-reason-for-the-decline/" target="_blank" rel="noopener noreferrer nofollow">There was a sudden drop in Bitcoin (BTC) price! What is the reason for the decline?</a>
Related News: <a href="https://en.bitcoinsistemi.com/internal-turmoil-at-gala-gala-founders-sue-each-other/" target="_blank" rel="noopener noreferrer nofollow">Internal Turmoil at Gala (GALA): Founders Sue Each Other</a>
While BTC and altcoins are recovering after the rumors, CoinShares, which publishes its weekly cryptocurrency report every week, published its weekly report this week.
However, Coinshares research head James Butterfill said in his post on his X account that there was an inflow of 243 million dollars into cryptocurrency investment products last week, that is, in the last week of 2023.
<blockquote>
 “The last week of 2023 saw US$243 million inflows into digital asset ETPs, bringing total flows in 2023 to US$2.2 billion.”
</blockquote>
According to Butterfil's post, Bitcoin experienced the highest fund inflow in 2023. While BTC was followed by the largest altcoin Ethereum (ETH), Solana (SOL), the shining star of 2023, ranked third.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The final week of 2023 saw US$243m of inflows into digital asset ETPs, bringing 2023 total flows to US$2.2bn. <a href="https://t.co/EtdHQWlu2K" rel="noopener noreferrer nofollow">pic.twitter.com/EtdHQWlu2K</a>
 — James Butterfill (@jbutterfill) <a href="https://twitter.com/jbutterfill/status/1742520412775350537?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 3, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
As it is known, since a spot Bitcoin ETF has not yet been approved in the USA, institutional investors in the USA invest in Bitcoin and altcoins through trusts and cryptocurrency ETPs such as GBTC.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/institutional-investors-bought-bitcoin-btc-and-these-altcoins-in-2023-coinshares-report/" rel="noopener noreferrer nofollow">Institutional Investors Bought Bitcoin (BTC) and These Altcoins in 2023! CoinShares Report!</a>

Institutional Investors Bought Bitcoin (BTC) and These Altcoins in 2023! CoinShares Report!

Bitcoin Sistemi EN

Other articles published on Jan 3, 2024

Analyst Predicts Bitcoin Rally as Cryptocurrency Market Eyes Future Movements

Matrixport Predicts BTC Price Dip To $36k Amid SEC’s Potential Rejection Of Spot Bitcoin ETF

Cardano (ADA) and Ripple (XRP) Projected to Grow Above $1 – Pullix (PLX) Raises $2 Million

Solana Overtakes Ethereum in Google Search Interest, Pullix Builds Momentum As the Next Big Thing...

Nukkleus reminds brokers that Bitcoin ETF annual volumes may reach tens of billions of dollars

Fidelity and Galaxy/Invesco Reveal Bitcoin ETF Fees in Case of Approval

Join our free newsletter for daily crypto updates!