Bitcoin ETF

Bitcoin

BlackRock

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrock-leads-bitcoin-etf-success/" data-wpel-link="internal">BlackRock Leads Bitcoin ETF Success</a> 
Ether ETF’s saw net inflows on the first day, but a significant 5% of the Grayscale fund was sold in a single day. Due to the acceleration of MtGox refunds, the BTC price dropped to $65,441. This caused greater losses in altcoins. So, what are experts’ predictions for September? 
<h2 style="text-align: justify" id="blackrock-and-bitcoin">BlackRock and Bitcoin</h2> 
The world’s largest asset manager’s move for a <a href="https://en.coin-turk.com/michael-saylor-increases-bitcoin-holdings-through-debt-issuance/" data-wpel-link="internal">Bitcoin</a> ETF yielded the expected result. BlackRock Bitcoin ETF inflows achieved success beyond the top 7 stocks. According to Jeroen Blockland, founder of Blockland Smart Asset Fund, this is a huge success. 
<blockquote> 
 “This is more than Invesco’s Nasdaq 100 ETF, including the Magnificent 7 stocks and #ArtificialIntelligence boom. Additionally, #Fidelity’s spot Bitcoin gathered $10 billion in inflows, ranking 11th.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-373433 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/ETF-verileri-btc.png" alt="" width="771" height="558"> 
The stocks defined as the Magnificent 7 include well-known companies like Microsoft, Apple, <a href="https://newslinker.co/is-electric-car-the-future/" target="_blank" rel="noopener" data-wpel-link="exclude">Tesla</a>, Amazon, Meta, Alphabet, and Nvidia. 
<blockquote> 
 “It’s quite surprising since Bitcoin’s size is 90(!) times smaller than stocks.” 
</blockquote> 
Compared to market value, BTC still represents a small value, but demand is quite strong. 
<h2 style="text-align: justify" id="september-crypto-predictions">September Crypto Predictions</h2> 
Bitcoin‘s price increase means more gains for altcoins. The total reserve size of US-based BTC ETFs exceeded $61 billion. This means 4.6% of the total supply moved to the ETF channel in just 7 months. Moreover, this demand is increasing during the MTGOX and US sales period. While markets fear a $10 billion sale, ETFs have already reached six times that size. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-373434 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-etf-buyuklugu-dune.png" alt="" width="1726" height="240"> 
Many analysts, including Titan of Crypto, expect Bitcoin to form a new strong peak in September or close to that date. Even Capo mentioned today that the parabolic rally should start soon. Titan is confident that BTC will reach $88,500 by September. This means altcoins could increase several times from their current levels. 
<blockquote> 
 “Bitcoin Target: $88,500! #BTC is back above Tenkan on the weekly timeframe.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-373435 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/Titan-BTC-2024-tahmin.png" alt="" width="1128" height="696"> 
75% of new BTC <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investments</a> came from the ETF channel, and this significant investment occurred before brokerage firms fully embraced ETFs. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrock-leads-bitcoin-etf-success/" data-wpel-link="internal">BlackRock Leads Bitcoin ETF Success</a></h5>

BlackRock Leads Bitcoin ETF Success

Съдържание

COINTURK NEWS

Други статии, публикувани на 24.07.2024 г.

Magic Eden and Ordlify Collaborate to Streamline the Creation and Sales of New Bitcoin Ordinals C...

BREAKING: Coinbase Announces It Will List a New Altcoin!

XProtocol: Exploring the future of blockchain entertainment and adoption with core contributor Dr...

XRP Lawyer Deaton Reveals Unexpected BTC, ETH and XRP Holdings

Ethereum ETF Finally Launches!!🚀Outperforms Expectations?️‍🔥

Bitcoin Investors Now Have Path to Portuguese Citizenship

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!