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

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