Bitcoin

Grayscale Bitcoin Trust

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-see-major-investor-exodus-as-samson-mow-weighs-in">Bitcoin ETFs See Major Investor Exodus as Samson Mow Weighs In</a><br></p>
<p style="text-align: justify">In recent developments, <a href="https://en.bitcoinhaber.net/bitcoin-stumbles-versus-euro-in-coinbase-dip">Bitcoin</a> exchange-traded funds (ETFs), specifically those based on spot prices, have seen substantial outflows. A staggering sum of $742 million was withdrawn this past week. Analysts attribute this trend to the U.S. Securities and Exchange Commission’s (SEC) approval of GBTC’s conversion into a spot ETF and the introduction of ten new Bitcoin ETFs on January 11. This influx of new products has led to a consistent withdrawal of funds from the Grayscale Bitcoin Trust (GBTC), with investors favoring alternatives that offer lower fees.</p> 
<h2 id="investors-flock-to-more-cost-effective-options">Investors Flock to More Cost-Effective Options</h2> 
<p style="text-align: justify">The exodus from Grayscale is chiefly influenced by its comparatively high fees, prompting investors to seek similar services at reduced rates. BlackRock’s flagship Bitcoin ETF, IBIT, which experienced a record $1 billion inflow in a single day, has now seen its daily inflow plummet to $49.3 million. This is its lowest in 18 trading sessions, suggesting a potential shift in market dynamics and investor preferences.</p> 
<h2 id="samson-mow-shares-insights-on-crypto-market-movements">Samson Mow Shares Insights on Crypto Market Movements</h2> 
<p style="text-align: justify">Samson Mow, a renowned figure in the cryptocurrency industry, has spoken out regarding the recent outflow from Bitcoin ETFs and the broader market conditions. He remains bullish on Bitcoin’s long-term prospects and has advised the community to exercise caution and strategic planning, particularly in light of the current market uncertainties.</p> 
<p style="text-align: justify">Mow has cast doubt on the significance of market sentiment for Bitcoin, reiterating its inherent value from its finite supply and perpetual demand. His comments also extend to <a href="https://en.bitcoinhaber.net/ethereum-attracts-major-investment-as-whale-activity-and-etf-prospects-intensify">Ethereum</a>, which has been in the limelight thanks to potential spot-based ETFs. Mow asserts that Ethereum is a <a href="https://en.bitcoinhaber.net/lido-finance-addresses-serious-security-issue-discovered-by-dwallet-labs">security</a> and expects the SEC to acknowledge this eventually. He warns that the approval of an Ethereum ETF might set a precedent for other cryptocurrencies, potentially leading to a regulatory misstep.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-etfs-see-major-investor-exodus-as-samson-mow-weighs-in">Bitcoin ETFs See Major Investor Exodus as Samson Mow Weighs In</a></h5>

Bitcoin ETFs See Major Investor Exodus as Samson Mow Weighs In

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