Bitcoin ETF

Bitcoin

when

<a href="https://www.cryptopolitan.com/grayscale-sees-huge-outflow-ahead-of-halving/">Grayscale</a> is now taking in more trip habitats than spitting out on the GBTC for Day 1. After the noteworthy headlines that revealed that these companies running the foremost Bitcoin investment trust had sold off all their assets, the latest bust was the continuation of raids dating back to when the ETF was changed into a Bitcoin exchange-traded fund (ETF) in January. 
<h2 class="wp-block-heading" id="gbtc-inflows-and-outflows">GBTC inflows and outflows</h2> 
As a result, GBTC received $63 million in inflows caused by eleven-to-the-spot Bitcoin ETFs that went live on January 11th. According to Farsider data, the outflow rate was approximately $17.5 billion. Apart from EZBC, the other fund that witnessed inflows was the Bitcoin ETF, which received $60.9M daily, the highest-ever inflow for the EZBC. 
Numerous fund families like Fidelity were among the investors who pumped in $102.6 million more into the Fidelity Wise Origin Bitcoin Fund (FBTC) besides positions Bitwise Bitcoin Fund (BITB) and the Invesco Galazy Bitcoin ETF (BTCO) with $33.5 and $33.2 million respectively. Bitcoin supporters are holding a meeting to discuss the effects of this 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/YAC5OaG9fmEieK4IZCqYbYYgi-k3UczzlT8OF7MYapPL7aFQzCMI2uGOdsagSMVWnCSj6RwnV0DwdQ8tFbBtglTFTX3TEJMYcrAuc_bRUenj3UEXXD-o_SPhNyaBkYJ_yn5AJrnZBbMYnP0eDPXJ9-Q" alt="">
</figure> 
Source: <a href="https://farside.co.uk/?p=1321" rel="nofollow noopener" target="_blank">Farside.</a> 
Anonymous cryptocurrency investor DivXman said that “primary source” Bitcoin Exchange Traded Funds are the main factor leading to the downward sentiment, a major challenge to ETFs. However, our crypto markets may gain some momentum soon. 
In a statement to his Ledger, to his 20,800 X followers, on May 3, he said it seems to be an important factor in reducing sales pressure and increasing demand when ETFs operate collectively and buy more BTC than miners can produce. 
<h2 class="wp-block-heading" id="crypto-influencer-sentiments">Crypto influencer sentiments</h2> 
Crypto Jelle predicted that the new Bitcoin’s ATH was coming soon in his tweet of 80,150 x followers. $60 million worth of flows into Grayscale ETF coin’s biggest player. Galois Removal will halt, but Bitcoin, with a 6-digit price, will soon take over. Lindsey crypto Traders, on the other hand, are responding to the news by seeking an answer to the question, Why is Bitcoin responding to both outflows and inflows? 
Bitcoin has jumped by 4.91% in the past 24 hours and recorded a price of $62,840 today, as checked by CoinMarketCap information. Many reasons can be cited behind <a href="https://www.cryptopolitan.com/grayscale-bitcoin-etf-outflows-ceo-remarks/">Grayscale’s</a> extended outflows since the inception of 11 spot Bitcoin ETFs. One reason is the premium fees of GBTC, which are over 2% compared to other ETFs. The fee GBTC pays is 1.5%, much lower than the other EFTs, with all the fees below 1%. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/e6xqzy_UQIwQf8gjRjuix-UNKivrR_zMleVPvBGN18t0tGXSNLZyJJR2Iz7kSLZbNPjCzJtozNmXcahm9Ol9zHgRUVihA2Pnl0BFku9-EziVxLioF0H0BZQLi-nDGaW9tNhhhVLlsvoQb-398VHtJOY" alt="">
</figure> 
Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank">CoinMarketCap</a> 
Economically, Franklin Templeton currently offers the lowest rate, a 0.19% nominal rate. The threat that caused the most concern came from the menhaden fish firm FTX and the cryptocurrency Genesis, which had to sell a significant amount of GBTC to prevent bankruptcy.

Grayscale Bitcoin Trust: A tale of massive inflows and outflows amid ETF frenzy

목차

Cryptopolitan_News

2024년 5월 4일에 게재된 다른 기사

Shiba Inu Executive Sends Crucial Message On TREAT Launch

The first-ever Bluetooth connection with a satellite has been made possible by Hubble Network.

Russian Found Guilty in BTC-e Money Laundering Case

Ripple’s XRP Faces Risk of Steeper Price Correction

Major Concerns for Altcoin as Founders Hold Majority Control: Understanding the Impact on Coin Va...

Hong Kong Asset Management Firm Acquires $38M in BlackRock’s Crypto Coin IBIT

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!