ETF | ForkLog - Part 47

ForkLog 7 27.01.2024

Grayscale Predicts Possible Approval Timeline for Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) is likely to approve an ETF based on the spot price of Ethereum by the summer of 2024, according to Craig Salm, head of the legal department at Grayscale. As @CraigSalm explained on @BizBriefing earlier this month, we believe that uplisting $ETHE to a spot Ethereum ETF is […]

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ForkLog 9 25.01.2024

Bitwise Bitcoin ETF Wallet Receives Donations as ‘Inscriptions’

The bitcoin address designated for holding acquired Bitwise Bitcoin ETF (BITB) coins received donations primarily in the form of ‘inscriptions’. Hours earlier, the product issuer Bitwise Asset Management disclosed information about the product’s wallet. At the time of writing, the address contains 16,773 ‘inscriptions’ valued at over $6,000. Among them are RSIC airdrops, Bitcoin Punk, […]

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ForkLog 21 25.01.2024

Record Outflows from Spot Bitcoin ETFs

On January 24, outflows from the Grayscale Bitcoin Trust ETF (GBTC) reached $429.3 million, surpassing the combined inflows into other spot bitcoin ETFs ($204.7 million). These calculations were provided by Bloomberg analyst James Seyffart. Day 9 — More $GBTC outflows, -$429 million. Still waiting on BlackRock data. pic.twitter.com/S2mjoEvg5o — James Seyffart (@JSeyff) January 25, 2024 […]

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ForkLog 18 25.01.2024

Bitwise Reveals Bitcoin ETF Wallet Address

Bitwise Asset Management has disclosed the bitcoin address holding the coins acquired for the Bitwise Bitcoin ETF (BITB). Announcement: Today the Bitwise Bitcoin ETF (BITB) becomes the first U.S. bitcoin ETF to publish the bitcoin addresses of its holdings. Now anyone can verify BITB’s holdings and flows directly on the blockchain. Onchain transparency is core […]

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ForkLog 56 25.01.2024

SEC Delays Decision on BlackRock’s Spot Ethereum ETF

The SEC has postponed its decision on BlackRock’s spot Ethereum ETF application until March 10. SEC Chair Gary Gensler reminded that the approval of a spot Bitcoin ETF was limited to just one cryptocurrency. Optimistic experts anticipate Ethereum ETF approval in May with a 50-70% probability, while skeptics point to regulatory resistance. SEC has postponed […]

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ForkLog 11 25.01.2024

Coinbase Declares Bitcoin ‘Mainstream’ Following ETF Launch

The introduction of spot Bitcoin ETFs in the United States has paved the way for the cryptocurrency to reach a broader audience, according to executives at Coinbase Institutional. This was reported by The Block. “The most exciting thing is that now cryptocurrency can become mainstream for the first time. […] This is the moment we […]

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ForkLog 7 24.01.2024

CoinShares Analysts Predict Bitcoin Surge to $58,700

Approval of a spot Bitcoin ETF and the anticipated easing of the Fed’s monetary policy in the first half of 2024 will drive the price of digital gold to approximately $58,700, according to CoinShares analysts in their annual report. The experts presented a matrix showing the correlation between inflows as a percentage of AUM for […]

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ForkLog 20 24.01.2024

Hester Peirce Advocates for Spot Ethereum-ETF Approval Without Court Ruling

Hester Peirce believes a court ruling is unnecessary for the approval of spot Ethereum-ETFs. The chances of product approval in May are estimated at 50-70%. SEC sources suggest that Chairman Gary Gensler may eventually relent and not obstruct the instrument’s registration. Spot Ethereum-ETFs do not require a court ruling for approval, according to SEC Commissioner […]

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ForkLog 20 23.01.2024

Rival Bitcoin ETFs Attract Over 100,000 BTC

Nine “new” spot Bitcoin ETFs have attracted 109,221 BTC. Due to GBTC sales, net outflows from instruments on January 22 reached 4,537 BTC ($179.6 million). Traders do not rule out a decline in Bitcoin to $36,000. The volume of coins held by spot Bitcoin ETFs, excluding the Grayscale Bitcoin Trust (GBTC), has reached 109,221 BTC […]

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ForkLog 17 23.01.2024

FTX Offloads $908 Million in GBTC Shares Amid Bankruptcy Proceedings

FTX sold $908 million worth of GBTC shares. Outflows from GBTC have surged to $3.45 billion. Panic selling has emerged, yet the market remains relatively balanced. Amid bankruptcy proceedings, FTX has offloaded 22.3 million shares of GBTC valued at approximately $908 million as of January 11. This was reported by CoinDesk, citing informed sources. FTX’s […]

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ForkLog 10 22.01.2024

Cryptocurrency Products Experience First Fund Outflow of the Year

From January 13 to 19, cryptocurrency investment products saw an outflow of $20.8 million, following a near-record inflow of $1.19 billion the previous week, according to a report by CoinShares. Data: CoinShares. Trading volumes decreased from a historic high of $17.5 billion to $11.8 billion, a figure nearly six times the 2023 average (~$2 billion). […]

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ForkLog 16 22.01.2024

Mike Novogratz Downplays GBTC Sales Impact on Bitcoin’s Future

Most investors liquidating positions in Grayscale’s GBTC will redirect funds into other bitcoin ETFs, neutralizing the current weakness of the leading cryptocurrency, according to Galaxy Digital CEO Mike Novogratz. I disagree with this. While I think people will sell GBTC, I think most will switch into other ETFs — $BTCO being my favorite !! Let’s […]

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