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The fund allegedly lost about half of its assets following FTX's collapse.
BlackRock, ARK 21Shares and Fidelitys Bitcoin products led the way with $499 million, $289.5 million and $206.1 million in inflows, respectively.
Bitcoin spot ETFs saw their largest inflows in 2 weeks on Thursday, totaling $192.5M. The inflows helped push Bitcoin back above $60K after dipping below $50K earlier this week.
Monetary markets have seen one of the most volatile sessions on Monday and service disruptions at some of…
While Grayscales spot Ether ETF experienced substantial outflows, other ETFs are showing different trends.
BlackRock's spot Bitcoin ETF saw its largest single-day inflow in over a month on Monday, taking in $224 million amid a slight Bitcoin pullback. The sizable injection extends an 8-day streak of net inflows into US spot Bitcoin ETFs.
Bitcoin remains volatile at spot rates. Despite the spectacular recovery yesterday, August 1, the downtrend remains, at least for now. Specifically, looking at the candlestick arrangement in the daily chart, there could be more growth once prices break $70,000. Before then, traders are closely monitoring price action aware that there could be more losses, pushing the coin below $60,000. Amid this, some analysts are bullish in the long term, ignoring short-term price volatility. Bitcoin Remains Bullish Despite Recent Price Drops In a post on X, Willy Woo, an on-chain analyst, said that though bears might succeed in the short to medium term, unwinding gains and progress made in the first half of the year, the path of least resistance in the long term remains northward. Related Reading: Polygon Price Risks Plunge With 90 Million MATIC Tokens Selling At $0.5 As on-chain data reveals increased movement among long-term holders (LTHs), shifting coins to top exchanges could heap more pressure on prices. Even so, Woo thinks that in the years to come, Bitcoin could range between $700,000 in the lower level and as high as $24 million, assuming it finds maximum adoption. The analyst said this bullish prediction is primarily based on the bullish assumption that Bitcoin would capture anywhere between 3% and 100% of the global wealth, which stands at over $500 trillion. Woo says the lower limit, 3%, is the upper bound of the recommended exposure laid out by Fidelity for institutions seeking to invest in the world’s most valuable coin. If most institutions allocate just 3% of their portfolio to Bitcoin via derivatives as spot ETFs, the probability of the coin soaring to $700,000 will be high. On the other hand, assuming everyone chooses to move their wealth to Bitcoin, divesting from the current traditional portfolios and choosing BTC, then the coin will explode to as high as $24 million. This assumption is, even according to Woo, improbable but cannot be discounted. BTC Is Transitioning, Spot ETFs Crucial For Growth Woo, in the post on X, said at spot rates, Bitcoin is in a transition. Looking at adoption charts, the coin is moving from the early to late majority adoption. Though in the nascent stages, a successful, hitch-free evolution will be crucial in driving prices even higher. Related Reading: Why XRP Price Wont Skyrocket After Ripple-SEC Ruling: Crypto Pundit The key driver and catalyst of adoption in this vital stage will be the adoption of spot Bitcoin ETFs. Since the United States Securities and Exchange Commission (SEC) approved this derivative product, one analyst has picked a direct correlation between bullish swings and inflows into spot ETFs. For this reason, how institutions perceive BTC and allocate funds will be critical. Feature image from Canva, chart from TradingView
The positive inflows into ETFs from major players like Fidelity and BlackRock highlight the growing confidence in the investment vehicles.
Amidst market declines, spot Bitcoin ETFs saw major contributions from BlackRock's IBIT and Fidelity's FBTC.
BlackRock's IBIT and other eight US spot Bitcoin ETFs reported no flows on July 3rd.
Fidelity International has launched the Fidelity Physical Bitcoin ETP on the London Stock Exchange for professional investors, according to a July 31 press release. The launch comes as Bitcoin investment products are multiplying worldwide following the record-setting success of US-based spot Bitcoin exchange-traded funds (ETFs) launched in January. Bitcoin ETP in London Fidelity’s ETP will […]
The post Fidelity launches competitive Bitcoin ETP on London Stock Exchange appeared first on CryptoSlate.
The trio's alliance underscores the growing adoption of tokenization by traditional financial institutions.
A Grayscale executive said the products will provide traditional investors with exposure to an asset that has the potential to transform the entire financial system.
The approved spot Ether ETF applicants included BlackRock, Fidelity and Grayscale, and are expected to bring billions of dollars into the ecosystem.
The consistent inflows into Bitcoin spot ETFs signal a robust and growing demand for regulated Bitcoin investment vehicles.
BlackRocks iShares Bitcoin Trust and the Grayscale Bitcoin Trust the two largest spot Bitcoin ETFs by net asset value saw zero flows on Monday.
The BlackRock and Fidelity Bitcoin ETFs led the $310 million in inflows, while Grayscale recorded a rare inflow day at $23 million.
US spot bitcoin ETFs saw their second-highest daily inflow ever on Tuesday at over $880 million, the most since March, as demand returns amid Bitcoin's resurgence.
Bitcoin's maturity also means less price volatility, though that can also bring more institutions into the asset, according to Fidelity's Jurrien Timmer.
The SEC commented on the S-1 forms and requested resubmissions by July 8, potentially delaying the launch of spot Ether ETFs until mid-to-late July.
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