BTC

The nine Bitcoin ETFs collectively achieved a combined volume of $994.1 million, nearly doubling the flow observed in GBTC at $570 million.

Bitcoin demonstrated resilience by establishing stability within the $39,000 to $40,000 range and showcased its bullish strength Friday when it saw a notable surge, closing at the $42,000 mark.

Charles Schwab's position may soon change, as it could be currently evaluating the strategic advantage of entering the market as a second mover in a space where many competitors raced to be the first, Bloomberg Intelligence analyst Eric Balchunas said.

"The need for federal legislation over cash market digital assets has never been more critical, and I will continue my call for action," the CFTC chair said.

When Vanguard made the decision to exclude the new Bitcoin ETFs from its extensive trading platform, the hashtag #BoycottVanguard quickly gained traction on the social media platform X (formerly Twitter). However, instead of yielding to the pressure, Vanguard reaffirmed its stance and remained resolute in its decision.

This impressive surge in inflows further cemented BlackRock's position as a trailblazer in the Bitcoin ETF sector.

Since transitioning to trade as a spot Bitcoin exchange-traded fund (ETF) on January 11, the Grayscale Bitcoin Trust (GBTC) has experienced an outflow of approximately $4.8 billion from its holdings.

Tesla Inc.'s fourth-quarter report noticeably omitted any mention of Bitcoin-related activities, underlining the company's continued ownership of its significant Bitcoin holdings, totaling 9,720 BTC.

GBTC has been recording massive outflows since it officially traded as a spot Bitcoin exchange-traded fund (ETF).

In the notice, the government explicitly outlines its intentions to liquidate the seized Bitcoin.

ARKB, on its eighth day of trading, the fund experienced a notable inflow of $110.5 million, further solidifying its position as an attractive investment vehicle in the Bitcoin ETF landscape.

Grayscale Bitcoin Trust ETF (GBTC) Bitcoin balance currently stands at approximately 553,000 BTC, marking a notable decrease of approximately 12% from its peak level of 630,000 BTC.

The significant uptick in inflows for the IBIT on Tuesday marked the ETF's third-largest inflow day.

The king of crypto's continued downhill trading coincided with the transfer of approximately 15,200 BTC from Grayscale Investment's Bitcoin ETF GBTC to Coinbase worth around $590 million on Tuesday.

FTX reportedly divested nearly two-thirds of its GBTC holdings within the initial three trading days of the fund's operation as an ETF.

Industry observers believe that the combination of locked positions and high fees has created a strong incentive for investors to pursue more cost-effective options.

Among the various ETFs, Fidelity's FBTC and BlackRock's iShares Bitcoin Trust have each attracted over $1.2 billion in inflows.

Wood thinks Bitcoin holds the potential to attain a valuation of $1 million per unit at some point in the future, albeit not in the immediate term.

The introduction of spot Bitcoin ETFs marks a significant milestone, yet many questions and challenges lie ahead for the cryptocurrency ecosystem.

The altcoin landscape is currently grappling with a sea of red, as most charts are dominated by bearish sentiment.

BlackRock's IBIT made a rare feat in the history of exchange-traded funds when it reached more than $1 billion in inflows within its first four days of trading.

The wallet address associated with Tether occupies the 11th position within the esteemed Top 100 Bitcoin Holders list, laying claim to an impressive 0.3% stake in the prevailing circulating supply of the world's largest cryptocurrency by market capitalization.

While Dimon acknowledged that "blockchain is real" and that "it is a technology" and confirmed that "There's a cryptocurrency which might actually do something," he referred to Bitcoin as the cryptocurrency "which does nothing."

All other spot Bitcoin ETFs have seen about $1.9 billion in net inflows, excluding GBTC.

ARK Invest executed a strategic reallocation of its assets on Tuesday, divesting some of its holdings in ProShares Bitcoin Strategy ETF (BITO).

If this trading volume continues, it's just a matter of time before BlackRock's IBIT snatches the "Liquidity King" title from Grayscale's GBTC.

According to a research analyst, "The price action of BTC, coupled with volume data and the performance of certain altcoins, demonstrates the adherence to the typical 'buy the rumor, sell the news' pattern associated with major market events."

While opinions vary on the impact of Bitcoin ETFs on MicroStrategy's investment approach, Saylor views their approval as a major financial development, potentially the most significant one on Wall Street in the last 30 years.

Despite the potential benefits, spot Bitcoin ETFs could trigger oversaturation and dilution of investments among too many funds.