The launch of spot Bitcoin ETFs has had significant effects on the market. A Kentucky hedge fund made $8 million from Grayscale's Bitcoin ETF. Miners selling reserves ahead of halving have contributed to Bitcoin's price decline. Grayscale CEO Michael Sonnenshein urged regulators to approve spot Bitcoin ETFs. There has been a major drop in miner reserves, leading to record outflows. Bitfinex reported that miners have increased Bitcoin sales to fund upgrades before the halving. Grayscale reduced its Bitcoin holdings while competing ETFs accumulated reserves. Chicago Mercantile Exchange saw a 35% increase in trading volume after the Bitcoin ETF launch. The approval of Bitcoin ETFs fueled a rise in spot trading volume across centralized crypto exchanges to a level last seen in June 2022. CME's crypto futures trading volume reached its highest level in 3 years after the approval of spot BTC ETFs, trading over $1 billion in volume today.
JUST IN: 🇺🇸 Spot #Bitcoin ETFs traded over $1 billion in volume today — Bloomberg's James Seyffart 🚀 https://t.co/XHtGVEqkVS
CME crypto futures trading volume hits highest level in 3 years after spot BTC ETFs approved - CCData https://t.co/amoanx57fZ
#BitcoinETF approval fueled a rise in spot trading volume across centralized crypto exchanges to a level last seen in June 2022. @LedesmaLyllah reports https://t.co/tHKIPqGLba
Chicago Mercantile Exchange, @CMEGroup, witnessed an increase in trading volume by 35% in January after the bitcoin ETF launch, reaching the highest amount since October 2021, according to @CCData_io. @LedesmaLyllah reports. https://t.co/FPDc5uJU38
ETF Shift: Grayscale Cuts #Bitcoin Position as Rivals Accumulate https://t.co/IWqpzBb5nu
Bitcoin miners are preparing for the network's upcoming halving and that may be a hurdle for the price of the largest digital asset https://t.co/Fpb23QTQf2
Grayscale Reduces #Bitcoin Holdings as Competing ETFs Continue to Bolster Reserves https://t.co/IWqpzBb5nu
Bitcoin's price is pressured as miners have ramped up #bitcoin sales since the spot ETFs began trading as they look to fund upgrades ahead of the halving, said Bitfinex. @sndr_krisztian reports https://t.co/xyOxLYtS9N
Major Drop in Miner Reserves Sparks Record Outflows: Over 10,000 Bitcoins Shifted Due to Bitcoin ETFs https://t.co/LLZdFejcJO
So much for interest in bitcoin ETFs fading. https://t.co/GNhq4A5sjZ
Grayscale CEO Michael Sonnenshein urged regulators to greenlight options for spot Bitcoin ETFs, highlighting their benefits for price discovery and market navigation https://t.co/3Ef5OSEyeL
Bitcoin's price decline has been exacerbated by miners selling reserves ahead of halving, Bitfinex says https://t.co/sQxTbi9udl
How a small Kentucky hedge fund raked in $8m on Grayscale’s Bitcoin ETF https://t.co/FWsYcMnDfo