Bitcoin ETF

Bitcoin

Pyth Network

Bitcoin ETF news has stirred the industry and has helped the cryptocurrency sector to gain more popularity.&nbsp;
The much-awaited approval of the Bitcoin spot ETF has gathered massive attention in the market, which might also be the reason that backed the Bitcoin spike.&nbsp;
Several data sources claim that the post-ETF approval price of Bitcoin has surged over 40% and recently traded at its all-time high. An approximately $10 Billion inflow has been observed in the Bitcoin ecosystem since ETF approval.&nbsp;
Eleven companies are offering Bitcoin spot ETF; the list includes BlackRock, Fidelity, and Grayscale, other leading financial giants. Despite these giants, Vanguard, a leading asset management firm, is still creating suspense over the BTC spot ETF launch.&nbsp;
Tim Buckley, the Chief Executive Officer of Vanguard, has maintained his strong opposition to Bitcoin exchange-traded funds (ETF). However, the company is constantly receiving inquiries about its plan to launch its own Bitcoin spot ETF.&nbsp;
Vanguard’s website posted a video of its CEO, who warned investors against Bitcoin ETFs in retirement investment plans due to immense volatility in price.&nbsp;
“We don’t believe it belongs, like a Bitcoin ETF belongs in a long-term portfolio of someone saving for their retirement. It’s a speculative asset,” Buckley says.&nbsp;
He said, “When stocks got hammered in the recent crisis, <a href="https://www.thecoinrepublic.com/2024/01/08/btc-volatility-leads-to-movement-in-plx-avalanche-and-chainlink/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> went right with them. And so it is speculative. Really tough to think about how it belongs in a long-term portfolio.”
Till this point in time, Vanguards has yet to plan to launch its Bitcoin spot ETFs.&nbsp;&nbsp;
<h2 class="wp-block-heading" id="strong-bitcoin-spot-etf-category-update-strong">Bitcoin Spot ETF Category Update&nbsp;</h2>
According to Dune Analytics, GrayScale has 46.2% of the market share in the spot ETF category, followed by BlackRock with 26.9%. Around 4.23% of Bitcoin’s total supply is used to operate spot ETF.&nbsp;
Since the approval of Bitcoin spot ETF, an inflow of $11.96 Billion has been seen as of the time of this writing. In the past seven days, it has gathered $2.36 billion. Franklin Templeton charges 0.19% of transaction fees over its ETF, the lowest fee any firm charges.&nbsp;
Among all 11 Bitcoin spot ETFs, GrayScale has the largest holding with 383,685, and BlackRock has 223,426 Bitcoin valued at $15.4 Billion as of writing. In the early days of approval, Grayscale was the market leader, dominating more than 90% of the market.&nbsp;&nbsp;
<h3 class="wp-block-heading" id="strong-market-price-update-strong">Market Price Update&nbsp;</h3>
The market capitalization reached $2.63 Trillion; it surged more than 4.25% in the past 24 hours. According to the fear and greed indicators of CoinMarketCap, there is extreme greed in the market, with the meter at 87.&nbsp;&nbsp;
Jupiter’s (JUP) price grew 60.37% in the past 24 hours, making it the intraday gainers list leader. Pyth Network (PYTH) 32.51%, Sei (SEI) 30.89%, Fantom (FTM) 30.04% and Aptos(APT) spiked 22.39%.&nbsp;
The most talked about memecoin dogwifhat (WIF) that has gathered massive trust since its launch, its price slipped 11.45% in the past 24 hours. Bitcoin (BTC) is trading at $69,066 with an intraday growth of 2.23%.&nbsp;
<h4 class="wp-block-heading">Disclaimer</h4>
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;

Bitcoin ETF News: Vanguard CEO Urges ETFs are Volatile in a Video

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Thecoinrepublic.com

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