Net inflows into newly approved bitcoin exchange-traded funds (ETFs) amount to approximately 21,000 BTC or $894 million. BlackRock's iShares Bitcoin Trust leads with 16,362 BTC, followed by Fidelity's Wise Origin Bitcoin Fund with 12,112 BTC. Grayscale's Bitcoin Trust experienced sizable outflows.
The conversion of Grayscale's Bitcoin Trust (GBTC) from a closed-end fund to an ETF, along with a reduced management fee and no longer trading at a discount to net asset value, has led to selling by GBTC holders. [ more ]
BlackRock's Bitcoin ETF Could Attract a Record $3B Inflow in First Trading Day: CF Benchmarks
The SEC's approval of spot bitcoin ETFs in the U.S. may result in the largest influx of funds into a specific ETF on its first day of trading.
The iShares Bitcoin Trust (IBIT) from BlackRock could attract as much as $3 billion in inflows on its debut, setting a record for ETF history.
The approval of spot bitcoin ETFs opens up the opportunity for any investor to gain exposure to bitcoin without needing to go through a crypto exchange. [ more ]
Bitwise, Fidelity, BlackRock See Biggest Bitcoin ETF Inflow in Preliminary Tally
Bitwise's bitcoin ETF (BITB) saw the biggest inflow of cash on its first day of trading, followed by Fidelity's fund (FBTC).
BlackRock's IBIT, expected to be a top contender, attracted $110 million in inflows but holds $120 million in bitcoin and $112 million in cash.
Spot bitcoin ETFs recorded a massive first day in trading volume with $4.6 billion daily volume combined, making it the biggest Day One in ETF history. [ more ]
Grayscale Discount Continues to Narrow as Spot Bitcoin, Ether ETF Euphoria Works Through Markets
Bitcoin and ether are trading steady in Asia, supported by narrowing discounts on Grayscale Bitcoin Trust and anticipation for the approval of spot bitcoin and ether ETFs.
Market optimism is high, with investor inflows surpassing $1 billion this year.
U.S. economic data and Federal Reserve communications are expected to influence crypto market trends. [ more ]