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Tag: BTC Investments

  • Asset outflows from crypto funds reach $500m in the last week

    Asset outflows from crypto funds reach $500m in the last week


    Digital asset investment products saw significant outflows last week, totalling $500 million.

    Analytics company CoinShares presented a report on the flow of funds in investment products based on cryptocurrencies from Jan. 20 to Jan. 26, 2024. According to available information, Grayscale Investments’ spot Bitcoin (BTC) ETF played a central role in the report. Over the week, the outflow of funds from the crypto fund exceeded $2.2 billion. At the same time, the total amount of withdrawn assets crossed the $5 billion mark.

    Source: CoinShares

    At the same time, the investment product of financial giant BlackRock continues to receive significant infusions, analysts say. Over the past week, the influx of funds amounted to $744 million. In second place in this indicator is the crypto fund of Fidelity Investments, which received financial injections of $643 million.

    In total, spot Bitcoin ETFs recorded an inflow of $1.84 billion. Moreover, since their launch on January 11, 2024, crypto funds have received infusions of $5.94 billion.

    At the regional level, the main outflow occurred in the USA ($409 million), Switzerland ($60 million) and Germany ($32 million). A net inflow of assets was observed only in Brazil – $10.3 million and in France – $100,000.

    Analysts note that due to spot Bitcoin ETFs, the main movement of funds during this period was associated with the first cryptocurrency. This asset accounts for an outflow of $479 million. At the same time, the inflow from short Bitcoin positions amounted to $10.6 million.

    At the same time, Ethereum (ETH)-based exchange products saw an outflow of $39 million. Most crypto funds based on other altcoins also lost funds in varying amounts.

    Last week, CoinShares analysts said that capital inflows into cryptoy investment products totaled $21 million, with issuers with higher fees suffering since the launch of spot Bitcoin ETFs in the United States on Jan. 10, 2024. Thus, the outflow of funds from such funds amounted to $2.9 billion. $4 billion were invested in the new instrument.


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    Anna Kharton

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  • BlackRock reports diverse investor interest in its spot Bitcoin ETF

    BlackRock reports diverse investor interest in its spot Bitcoin ETF

    BlackRock reveals that its Bitcoin ETF draws a wide range of investors, reflecting growing interest across different investor profiles in the crypto market.

    In a recent interview with Bloomberg TV, Rachel Aguirre, Head of U.S. iShares Product at BlackRock, discussed the burgeoning interest in the company’s new spot Bitcoin ETF, IBIT.

    In response to inquiries about whether an investment in IBIT was being redirected from Grayscale’s GBTC product, Aguirre noted that the firm “observed engagement from various investors, including both retail and self-directed types.” She mentioned that some “investors had shown readiness to invest” from the outset.

    Aguirre further stated that the “firm is paying attention to investors who are newly exploring this asset class”, expressing a positive outlook towards this emerging interest.

    Aguirre did not specify if BlackRock’s model portfolios will include Bitcoin (BTC) allocations in the near future. However, she emphasized the firm’s commitment to educating clients and financial advisors about Bitcoin, empowering investors to make informed financial decisions.

    The US spot Bitcoin ETF market is witnessing significant milestones, with BlackRock’s IBIT becoming the first to surpass the $1 billion inflow mark, recently adding $371 million in a single day. Fidelity’s FBTC follows closely with $881 million in inflows. BlackRock now holds an impressive 25,067 BTC, valued over $1 billion, for their spot Bitcoin ETF.


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    Bralon Hill

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  • Crypto investment products get $1.18b inflows amid spot Bitcoin ETF launch

    Crypto investment products get $1.18b inflows amid spot Bitcoin ETF launch

    The influx of investment products into digital assets amounted to $1.18 billion.

    Despite the launch of the Bitcoin ETF, capital inflows of $1.18 billion did not break the October 2021 record of $1.5 billion, according to a CoinShares report.

    At the same time, trading volumes have broken records, with trading volume of $17.5 billion last week, the highest ever, compared with an average of $2 billion per week in 2022. These trading volumes accounted for almost 90% of the daily trading volumes on trusted exchanges on January 12.

    Geographically, experts added that in the United States last week there was an inflow of funds in the amount of $1.24 billion. Countries such as Germany, Canada and Sweden recorded an outflow. Analysts believe that this distribution of funds occurred due to the desire of traders to switch from Europe to the United States.

    Bitcoin (BTC) inflows were $1.16 billion, Ethereum (ETH) inflows were $26 million, and XRP inflows were $2.2 million. Solana (SOL) was a notable exception, receiving just $0.5 million in inflows last week.

    “Blockchain equities also saw large inflows totaling $98m, bringing total inflows over the last seven weeks to $608m.”

    CoinShares report

    In the period from Jan. 1 to Jan. 5, the inflow of funds into crypto funds amounted to $151 million. Analysts also emphasized that the total inflow of funds since the trial between Grayscale and the SEC reached $2.3 billion.


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    Anna Kharton

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  • MicroStrategy apes $593m into Bitcoin

    MicroStrategy apes $593m into Bitcoin

    Michael Saylor’s digital software giant bought 16,130 BTC, increasing the worth of the company’s total Bitcoin holdings to over $6 billion at current prices.

    MicroStrategy, one of the largest corporate holders of Bitcoin (BTC), bought more of crypto’s leading token by market cap according to founder Michael Saylor and a Nov. 29 filing with the Securities and Exchange Commission (SEC).

    Saylor’s firm purchased an additional 16,130 BTC at an average price of $36,785 per Bitcoin. This scoop raised MicroStrategy’s total Bitcoin portfolio to some 174,530 coins acquired for  $30,252 on average.

    As crypto.news reported, MicroStrategy spent $5.3 million bolstering its BTC holdings following the close of Q2 2023.

    With Bitcoin’s price trading above $37,600 at press time, per Coingecko, MicroStrategy’s BTC net worth sits around a staggering $6.5 billion. The company started buying Bitcoin in 2020 amid global economic uncertainty as a means of hedging its balance sheet against rising inflation. 

    Since then Bitcoin has increased in value severalfold, peaking at $69,000 during the height of crypto’s bull run in 2021 and possibly making its way back to all-time highs on the back of spot Bitcoin ETF optimism.

    BTC has recorded price rallies in recent months due to news and speculations surrounding Bitcoin ETF applications filed by Wall Street titans, such as BlackRock. Crypto-native entities like Grayscale and Hashdex have also submitted bids for the same product, which experts say would attract billions of dollars into crypto. 

    BlackRock and other issuers have modified their respective filings in response to SEC feedback, a move that has likely increased anticipation that approvals could roll out sooner rather than expected.


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    Naga Avan-Nomayo

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