blackrock
U.S. Spot Bitcoin ETFs See Record $287 Million in Outflows, Except BlackRock
Published
3 months agoon
By
adminU.S. spot Bitcoin ETFs witnessed a significant exodus of funds, with $287.8 million withdrawn across the listed ETFs yesterday, marking the largest single-day outflow since May 1, Farside Investors data reveals. According to Arkham data, the only ETF that did not experience withdrawals was BlackRock, which reported zero outflows.
EIGHT ETFs sold $287 MILLION BTC in the past 24 hours.
Except BlackRock.
BlackRock sold 0. pic.twitter.com/rWNw7FraUH
— Arkham (@ArkhamIntel) September 4, 2024
Fidelity’s ETF led the withdrawals, selling $162 million worth of Bitcoin. Grayscale followed with $50 million in outflows, while Ark and Bitwise reported $34 million and $25 million, respectively. Despite these substantial outflows, these ETFs still collectively manage around $50 billion in assets.
Bitcoin saw a remarkable rise in price earlier this year due to the hype and interest surrounding these ETFs, starting 2024 at around $44,000 and reaching an all-time high of $73,770 on March 14. However, the price has since stagnated, hovering below its peak in the $55,000 to $65,000 range. It has been 174 days since Bitcoin hit its all-time high, according to Clark Moody Dashboard.
Despite the recent outflows, spot Bitcoin ETFs have generally maintained strong inflows, with only one month of outflows in the past eight months. This indicates ongoing investor interest in Bitcoin, even as its price stabilizes below its all-time high.
U.S. Bitcoin ETFs monthly $BTC purchases 👇 August w/ +975 pic.twitter.com/qkzQ2VIQFP
— HODL15Capital 🇺🇸 (@HODL15Capital) September 2, 2024
Source link
You may like
Magic Eden Token Airdrop Date Set as Pre-Market Value Hits $562 Million
Blockchain Association urges Trump to prioritize crypto during first 100 days
Pi Network Coin Price Surges As Key Deadline Nears
How Viable Are BitVM Based Pegs?
UK Government to Draft a Regulatory Framework for Crypto, Stablecoins, Staking in Early 2025
Bitcoin Cash eyes 18% rally
Bitcoin
Options on Bitcoin (BTC) Exchange-Traded Funds Marks Milestone, Despite Position Limits
Published
2 days agoon
November 20, 2024By
adminPark explained on X that the exercisable risk, representing the total value of option contracts exercised or converted to actual shares, equates to less than 0.5% of IBIT’s outstanding shares. Meanwhile, the industry standard is closer to 7%, which would represent a comparative figure of 7%. To show how small the 0.5% figure is, bitcoin CME futures contracts are allowed to trade 2,000 contracts, which is the equivalent of 175,000 for IBIT.
Source link
Bitcoin
Crypto product record major inflow up to $2.2 billion
Published
3 days agoon
November 19, 2024By
adminCoinShares, a digital asset manager, reported that last week crypto products saw a major inflow from institutional investors of up to $2.2 billion.
The latest U.S. Election, on Nov. 5, still stimulated the weekly cryptocurrency inflow up to $2.2 billion. The number increased 15% from the previous week by about $1.98 billion.
According to CoinShares’s release, on Nov. 18, digital asset inflows recorded $33.5 billion year-to-date and hit a new peak of under-asset management (AUM) up to $138 billion.
Bitcoin (BTC) saw the largest inflow based on assets last week of around $1.48 billion or equal to 67%. Followed by Ethereum (ETH) and Solana (SOL) with inflows $646 million and $23.9 million respectively.
The Beam Chain network upgrade proposal by Justin Drake has increased Ethereum’s inflow from $157 million. Only multi-asset and Binance Coin (BNB) record a week’s outflow.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded the highest surge in crypto product from last week’s inflow up to 63% or up to $2.1 billion. While the rest of the funding recorded an outflow ranging from $8 million to $153 million, including Grayscale and Fidelity.
Crypto product driving factor: U.S. Election
James Butterfill, CoinShares head of research, says a combination of looser monetary policy and a Republican winning a majority of the Congress and Presidency appears to be a driving factor of these inflows.
Donald Trump winning the White House’s second term still brings a positive rally for the cryptocurrency industry, as well as the crypto product. Buterfill has mentioned that Trump’s presidency would bring crypto-friendly regulations and fiscal policy.
Earlier, Trump picked several names for secretary on his cabinet who identified as pro-crypto personalities including Elon Musk, Tom Emmer, and Robert F. Kennedy Jr.
Bitcoin Act, who were proposed by Republican Senator Cynthia Lummis, and the Bitcoin Strategic Reserve also boosts the crypto investor’s confidence. He also mentioned this favorable outlook may bring the best potential of Bitcoin in the future.
“The next four years may witness an unprecedented level of institutional support, increased government interest, and broader public adoption, setting the stage for Bitcoin to further solidify its place in the global financial landscape,” Buterfill mentioned in the other report.
Source link
Abu Dhabi
BlackRock receives Abu Dhabi commercial license after Saudi approval
Published
4 days agoon
November 18, 2024By
adminBlackRock has received a license to operate in Abu Dhabi, further expanding its business into the Middle Eastern region after gaining approval from Saudi Arabia just last month.
According to a Bloomberg report published on Nov. 18, the investment management company plans to apply to get regulatory approval to set up business in the Abu Dhabi Global Market, at the heart of UAE’s capital.
BlackRock’s Abu Dhabi office will primarily work with sovereign wealth funds, wealth managers and investment vehicles based in the region.
This latest development comes a month after BlackRock secured approval from Saudi Arabia to open up a headquarters in Riyadh. The asset manager has continued to branch out its business reach into the Middle East after announcing it would get up to $5 billion from the Public Investment Fund to invest in the Middle East and build a team rooted in Riyadh.
Additionally, BlackRock has partnered with Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan to bankroll the build-out of data warehouses and energy infrastructure within the region.
In a statement, Head of the Middle East for BlackRock, Charles Hatami, stated several reasons why the firm chose to operate in Abu Dhabi. Considering Abu Dhabi’s status as a hot spot for capital markets, he said that the region’s proactive government policies and commitment to sustainability make it an ideal location.
“Abu Dhabi has rapidly transformed into a global financial center,” said Hatami, adding that the firm plans to focus on private markets, specifically AI infrastructure, in Abu Dhabi.
BlackRock Chief Executive Officer Larry Fink explained that having the investment firm operate in both Abu Dhabi and Riyadh was a logical move, as both regions are competing head-to-head with Dubai to become the Middle Eastern business hub.
Both regions are famous for holding over $1 trillion of sovereign wealth, representing some of the biggest capital in the world.
Source link
Magic Eden Token Airdrop Date Set as Pre-Market Value Hits $562 Million
Blockchain Association urges Trump to prioritize crypto during first 100 days
Pi Network Coin Price Surges As Key Deadline Nears
How Viable Are BitVM Based Pegs?
UK Government to Draft a Regulatory Framework for Crypto, Stablecoins, Staking in Early 2025
Bitcoin Cash eyes 18% rally
Rare Shiba Inu Price Patterns Hint SHIB Could Double Soon
The Bitcoin Pi Cycle Top Indicator: How to Accurately Time Market Cycle Peaks
Bitcoin Breakout At $93,257 Barrier Fuels Bullish Optimism
Bitcoin Approaches $100K; Retail Investors Stay Steady
Solana Hits New ATH On Huge Whale Accumulation, More Gains Ahead?
Microsoft Should Buy $78 Billion Worth of Bitcoin
Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO
UK government is ready for crypto regulations next year
“Crypto Dad” Chris Giancarlo Emerges Top For White House Crypto Czar Role
182267361726451435
Top Crypto News Headlines of The Week
Why Did Trump Change His Mind on Bitcoin?
New U.S. president must bring clarity to crypto regulation, analyst says
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin Open-Source Development Takes The Stage In Nashville
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Washington financial watchdog warns of scam involving fake crypto ‘professors’
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Trending
- 2 months ago
182267361726451435
- 24/7 Cryptocurrency News3 months ago
Top Crypto News Headlines of The Week
- Donald Trump4 months ago
Why Did Trump Change His Mind on Bitcoin?
- News3 months ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Bitcoin4 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Opinion4 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Price analysis3 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
- Bitcoin4 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential