The Bitcoin ETF market has seen significant activity with Grayscale's gBTC ETF holding approximately 325,687 Bitcoins worth around $23.36 billion. Despite experiencing average daily outflows of $262.8 million, the ETF market remains buoyant with Bitcoin ETFs purchasing 7,300 BTC worth $502 million in a single week, covering all BTC sold by Grayscale and all newly mined BTC, plus an additional 2,000 BTC. The launch of Hong Kong's first batch of Bitcoin futures ETFs has been marked by a 45% price increase in Bitcoin in the first two months of 2024, with ETFs now holding 4.24% of the total Bitcoin supply. Blackrock and Fidelity have been notable buyers, purchasing 12,000 and 6,000 Bitcoins respectively, with Blackrock's holdings reaching 263,937 BTC worth $18.93 billion. The interest in Bitcoin ETFs is not limited to the U.S., as mainland Chinese fund companies are exploring spot Bitcoin ETFs through their Hong Kong subsidiaries. The digital asset investment products have seen record inflows, totaling $646 million in a week, bringing the year-to-date inflows to $13.8 billion. Bitcoin remains the primary focus, with inflows totaling $663 million, while Ethereum has seen outflows for the fourth consecutive week. The U.S. has approved 11 spot Bitcoin ETFs, attracting about $10 billion in net inflows within two months. Several Chinese institutions have announced the launch of Bitcoin ETFs, with Harvest Fund and Southern Fund submitting applications for Bitcoin ETFs in Hong Kong. 9 ETFs, including Grayscale, added 4,153 BTC worth $298 million. Bitcoin's price has surged, trading just shy of all-time highs above $72,000.
Spot #Bitcoin ETF Reserves Reach New Heights https://t.co/7pWtxoWVIf
UPDATE: Chinese equity giants Harvest Fund and Southern Fund submit applications for Bitcoin ETFs in Hong Kong. Find out more ↓ #Bitcoin BitcoinETF (By: @ComposableD) https://t.co/ZuB4bC7hKs
"Record setting flow" Matt Ballensweigh joined @CNBC Crypto World dives into the Bitcoin ETF impact over the last quarter. Check it out.
Huge GBTC outflow, $303MM, as relentless drain continues, yet bitcoin surging and trading just shy of all time high
Several of China's Investment Giants Target Spot #Bitcoin ETF Market https://t.co/2hisdvPTtT
JUST IN: Grayscale #Bitcoin ETF sees $303 million in outflows today 👀😮 https://t.co/36EfW2lxxX
BlackRock’s Bitcoin fund nears $18bn in assets despite investors’ ‘wavering’ appetite for ETFs https://t.co/WKMY82Op4k
Hong Kong's First Spot Bitcoin ETFs May Debut This Quarter https://t.co/HDPWIg1hCz will mainland investors be able to buy into them?
Bitcoin ETF Hype May be ’Moderating’ as Year-to-Date Growth Nears $14 Billion ► https://t.co/KG8HtjfT4S https://t.co/KG8HtjfT4S
Spot BTC ETFs have revolutionised the BTC landscape. Check out those volume bars - consistently over 2 billion daily for six weeks. This is just the beginning - promising times ahead. You know what to do. Buy and HODL. https://t.co/JsXGjVyq3c
FUN FACT: BlackRock and Fidelity's spot #Bitcoin ETFs have now taken in inflows for 59 days straight and are now in the top 20 ETFs of all time 🤯 https://t.co/qJcgvgZ2Eq
10 US #Bitcoin ETFs Amass Over 519,000 BTC, With Blackrock Leading at 50.81% https://t.co/7pWtxoWVIf
Digital asset investment products have reached a record inflow for the year after receiving $646 million from investors mainly interested in Bitcoin last week https://t.co/QUM44vQLc8
Ethereum-based investment products see negative outflows for the 4th straight week, totaling $22.5 million. https://t.co/vogqGICIa0
Apr 8 Update: #Grayscale decreased 1,172 $BTC(-$84M) and currently holds 325,687 $BTC($23.36B). #Blackrock added 4,556 $BTC(+$327M) and currently holds 263,937 $BTC($18.93B). 9 ETFs(Including #Grayscale) added 4,153 $BTC(+$298M). https://t.co/V9oC2QU7k5 https://t.co/OGsBpFnOD3
Another week and nearly $500M more net inflows into US spot bitcoin ETFs ahead of BTC’s latest rise above $72,000 https://t.co/MVYjrrZuhW
Some leading #Chinese equity #funds applied for issuance of spot #Bitcoin ETF in Hong Kong, reported state-backed newspaper https://t.co/CLWAZZswqA
Some leading #Chinese equity #funds applied for issuance of spot Bitcoin ETF in Hong Kong, reported state-backed newspaper https://t.co/CLWAZZswqA
Commentary: The U.S. approved 11 spot Bitcoin ETFs in January, a hugely popular product that attracted approximately $10 billion in net inflows within just two months. But opponents caution that price manipulation and money laundering pose major risks. https://t.co/YSOPIzALyj
🚨 REPORT: @solana Digital Asset Investment Products recorded $4 million in inflows last week. Meanwhile, Ethereum saw $22.5 million of outflows. https://t.co/8kR764hmFE
BREAKING: Some of China's largest institutional funds apply for spot Bitcoin ETF in Hong Kong. $BTC We are now trading ~1.50% from new all-time highs. https://t.co/FkhfzlhKtR
#ETF Update: Santiment expects inflow to stay strong, #GBTC continues bleed ⚡️👀 Click below for the full report 📝👇 https://t.co/beIuq0mGAU https://t.co/vhRPFbzlj6
Further US$646m inflows into Bitcoin ETFs, but signs of hype moderating https://t.co/gZEvJgr90T
Crypto investment products see record year-to-date inflows of $13.8 billion https://t.co/8JKNlpuJov
NEW: Multiple Chinese Institutions to Launch #Bitcoin ETFs in Hong Kong. https://t.co/ld2ETzhyLk
Bitcoin has pumped 4% this morning, but why? Several Chinese institutions announce the launch of Bitcoin ETFs https://t.co/QlcGjZt1bx
BREAKING: @ethereum DIGITAL ASSET INVESTMENT PRODUCTS SAW OUTFLOWS FOR THE 4TH CONSECUTIVE WEEK TOTALLING $22.5M THIS PAST WEEK, IN CONTRAST WITH @solana WHICH SAW $4M IN INFLOWS - PER @CoinSharesCo https://t.co/Yvn6Z3A97W
🚨JUST IN: CRYPTO INVESTMENT PRODUCTS SEE $646 MILLION NET INFLOWS LAST WEEK ~ COINSHARES
According CoinShares, last week saw an inflow of $646 million into digital asset investment products. The total inflow for this year has reached a record high of $13.8 billion. Bitcoin inflows amounted to $663 million, while short Bitcoin investment products experienced outflows…
Digital asset investment products saw inflows of $646m last week. $BTC remains the focus, seeing inflows totalling $663m $ETH saw outflows for the 4th consecutive week totalling $22.5m. $LTC, $SOL and $FIL, saw inflows of S$4.4m, $4m and $1.4m respectively. YTD = +$13.8B https://t.co/kDYl3Yb4iA
Mainland Chinese fund companies are leveraging their Hong Kong subsidiaries to explore spot Bitcoin ETFs, signaling their keen interest in the new investment avenue https://t.co/meH3hEto0V
Blackrock Purchased 12,000 #Bitcoin Last Week. Fidelity, 6,000. If this was the first week of ETFs, that would be one thing. But we're three months in and they're not letting up. Yes GBTC has been selling but they can only sell once. When their selling is over we will witness… https://t.co/ZXY7f78fHW
#Bitcoin ETFs hold 4.24% of the total $BTC supply They traded for less than 60 days
BITCOIN ETFs BOUGHT 7300 BTC WORTH $502 MILLION THIS WEEK THEY BOUGHT - ALL BTC SOLD BY GRAYSCALE - ALL NEWLY MINED BTC - AN ADDITIONAL 2000 BTC
The issuer of Hong Kong's first batch of Bitcoin futures ETFs have placed advertisements on a large number of buses in Hong Kong, showing that the price of Bitcoin has risen by 45% in the first two months of 2024. https://t.co/F0xIieLVCM
Grayscale's gBTC ETF still holds 325,690 #Bitcoin worth ~$22B at current prices. gBTC has seen average daily outflows of -$262.8M, meaning if outflows continue at their current pace it would take 84 more trading days for gBTC to completely run out of BTC. https://t.co/DIBi6RVCjn