Prime

Bitcoin ETF

Bitcoin

James

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BlackRock's iShares Bitcoin Trust has recently <a href="https://twitter.com/lookonchain/status/1749986025135579167" rel="noopener noreferrer nofollow">acquired</a> a substantial amount of Bitcoin from Coinbase Prime.&nbsp;
According to a tweet from Lookonchain, the trust received 6,495 BTC, valued at approximately $254.7 million, from Coinbase Prime just seven hours ago.&nbsp;
This acquisition has increased the total Bitcoin holdings of the trust to 39,925 BTC, amounting to an estimated value of $1.59 billion.
<h2 id="outflows-from-grayscale">Outflows from Grayscale</h2>
Grayscale, a significant player in this field, has experienced a remarkable outflow of funds.&nbsp;
As reported by James Butterfill, <a href="https://u.today/grayscale-dumps-214-billion-in-bitcoin-btc-post-etf-approval-details" rel="noopener noreferrer nofollow">Grayscale</a> saw outflows amounting to about $505 million yesterday, though this was partially mitigated by inflows into newer ETFs totaling around $396 million.&nbsp;
Grayscale's outflows remain the main bearish factor for the cryptocurrency industry, and inflows into ETFs like BlackRock's iShares Bitcoin Trust are so far struggling to outpace them.&nbsp;
<h2 id="bitcoin-turbulence">Bitcoin turbulence&nbsp;</h2>
The cryptocurrency market is currently experiencing a volatile phase, particularly for Bitcoin.
Amid these market movements, industry experts like Fidelity Executive Director Jurrien Timmer are predicting continued volatility in the <a href="https://u.today/key-reason-behind-bitcoin-btc-price-crash" rel="noopener noreferrer nofollow">Bitcoin price</a>.&nbsp;
Timmer's analysis, filled with cautious optimism, argues that the SEC's approval of Bitcoin ETFs marks a significant step toward the cryptocurrency's maturity, but it also introduces greater volatility.&nbsp;
The future path of Bitcoin's value is now closely tied to the performance of these ETFs.&nbsp;

BlackRock Bitcoin ETF Acquires Massive Bitcoin Transfer from Coinbase

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