Bitcoin Bulls Buoyed by Report of FTX's $1B GBTC Sale
Sizable sales from the Grayscale Bitcoin Trust may be partly to blame for bitcoin's poor price performance since the launch of U.S.-based spot ETFs.
The bankruptcy estate for failed crypto exchange FTX sold its entire holding of GBTC for nearly $1 billion, indicating fresh investment into the new spot ETFs. [ more ]
Trading Volume on Proshares Bitcoin ETF Tanks 75% As Focus Shifts To Spot ETFs
Daily trading volume in the ProShares Bitcoin Strategy ETF (BITO) has declined significantly since the launch of spot ETFs directly investing in cryptocurrency.
Observers believe BITO will remain important as a hedging instrument in the market. [ more ]
JPMorgan CEO Jamie Dimon advises against getting involved in Bitcoin, citing concerns about its use cases.
Dimon expresses a more positive stance on cryptocurrencies outside of Bitcoin, particularly highlighting the tokenization of real-world assets. [ more ]