Grayscale reduced its Bitcoin holdings by 6,899 BTC worth $462 million, now holding 361,659 BTC valued at $24.23 billion. GBTC has only 356,000 BTC left. BlackRock's IBIT saw strong demand with $233 million inflows. Bitcoin ETFs experienced record outflows, with JPMorgan warning of further decline.
#Bitcoinโs momentum may be shifting as institutional outflows decrease, with GBTC losing $170M on March 22. Amid speculation of Genesis selling its GBTC position, net flows out of Bitcoin ETFs dropped, hinting at easing selling pressure. https://t.co/UgVscYyeHm
Bad news: we saw net BTC ETF outflows every day last week. Good news: the magnitude of the outflow seemed to slow down by the end of the week. Whenever inflows switch on again I think crypto resumes its rally. Forever the optimist here but think we see that sooner than later. https://t.co/yoquHfJJyV
From Peak to Present: #GBTC's #Bitcoin Holdings Decrease by 266,827 BTC in 71 Days https://t.co/cWY18jlrir
Net flows out of the Bitcoin ETFs dropped to -$51.6mil yesterday, helped by a big slowdown in GBTC selling Momentum turning? https://t.co/V9agQRQiIy
BlackRockโs $IBIT and Fidelityโs $FBTC #Bitcoin ETF have taken in cash for 50 straight days ๐๐ก๐๐ฒ ๐๐ซ๐ ๐ญ๐ก๐ ๐๐ข๐ซ๐ฌ๐ญ ๐๐๐ ๐ฌ ๐ข๐ง ๐ก๐ข๐ฌ๐ญ๐จ๐ซ๐ฒ ๐ญ๐จ ๐๐จ ๐ญ๐ก๐๐ญ ๐ข๐ง๐ฌ๐ญ๐๐ง๐ญ๐ฅ๐ฒ ๐๐ซ๐จ๐ฆ ๐ญ๐ก๐๐ข๐ซ ๐ฅ๐๐ฎ๐ง๐๐ก INSANE ๐๐
With Aprilโs โhalvingโ set to cut mining rewards by half, #Bitcoin miners are upgrading to more efficient mining machines, cutting costs, finding cheaper sources of power and exploring mergers and acquisition opportunities. https://t.co/utJmXH1vMB
[1/4] Bitcoin ETF Flow - 22 March 2024 All data in. 5th day of net outflows. $52m total net outflow for the day. Blackrock with a record low inflow of $18.9m https://t.co/63u297xh8d
UPDATE Week 11 #BTC ETF Data Total flows -13.5K #BTC New ETFs + 17K #BTC Highlights: Blackrock +12.5K BTC GBTC - 30.5K BTC FBTC + 1.2K BTC Bitwise +1K BTC Follow our ETF Tracker for live updates https://t.co/Sv5ZTk9pxD
Massive outflows from GBTC this week. How much of the outflows could be attributed to selling by Genesis to pay back their creditors? Remember Genesis holds 35 million GBTC shares and they got court approval in Feb to start selling them...
๐จ Spot #Bitcoin ETFs saw another day of net outflows to end the week. While gBTC's outflows slowed, IBIT and FBTC saw below average inflows. https://t.co/8b2CIZHE0i
*BLACKROCK BITCOIN ETF DAILY FLOW: +US$174.45
Yesterday's Bitcoin ETF flows were negative for the 5th day in a row. $GBTC had $170 million of outflows. It seems like the Genesis liquidation is completely done now. A total of $2 billion in outflows this week. Blackrock only had $18.9 million of inflows, their lowest toโฆ https://t.co/GVYv2K5z1T
Lowest IBIT print ever. Still netflows have moved in the right direction after a massive week of selling in GBTC. There was decent volume in IBIT and FBTC, likely a lot of changing of hands in these products (profit-taking). https://t.co/CT6R8i1VXT https://t.co/LjaVWR4F1X
Bitcoin ETF Flow (US$ million) - 2024-03-22 TOTAL NET FLOW: -51.6 (Provisional data) IBIT: 18.9 FBTC: 18.1 BITB: 16.3 ARKB: 5.4 BTCO: 4.5 EZBC: 29.6 BRRR: 25.5 HODL: 0 BTCW: 0 GBTC: -169.9 For all the data & disclaimers visit: https://t.co/4ISlrCgZdk
First week of net outflows for the 10 spot ETFs since late January, not bad at all. Mostly Genesis' bankruptcy estate liquidating GBTC and Gemini Earn selling GBTC for BTC, and a small slowdown in BTC terms to the other 9. A minor hiccup of a week in an otherwise impressive Q1. https://t.co/jtCDwRDHri
๐จU.S. Bitcoin ETFs posted the 5th consecutive day of outflows today (3/22) driven by large $GBTC selling ๐ $IBIT $FBTC $ARKB $BITB $BRRR $BTCO $HODL $EZBC $BTCW https://t.co/M1fn5bY8Q8
There have been $13 Bn in outflows from Grayscaleโs GBTC ETF product And $13 Bn in inflows to BlackRockโs ETF product People are selling @BarrySilbert and buying Larry Fink
ETF inflows & outflows leaderboardโฆ Who could have imagined this a yr ago. IBIT & FBTC in *top 5* inflows out of 3,400+ ETFs. GBTC w/ by far most outflows. But Grayscale paved regulatory path so other spot btc ETFs could exist. What a story. https://t.co/yyFcxrYgpp
Call me a bulltard, but flows have obviously begun to revert back towards positive territory as $GBTC Genesis outflows are likely behind us, CB premium is back, FOMC confirmed a dovish Fed, halving around the corner, Fink continues his crypto paradeโฆ Bottom is in.
$GBTC outflows continue to mean revert โ Now waiting for net inflows. https://t.co/B5l6LP5cvJ
Flows minimized as weโve seen likely the tail end of insane bankruptcy selling for this latest tranche. Assets will still leave the GBTC product but the selling this week was relentless in comparison. cc: @EricBalchunas @JSeyff @NateGeraci https://t.co/oYXUqirhbH
Bitcoin ETF Flow - 22 March 2024 GBTC Outflow $170m
Much of GBTC's outflows come from Genesis selling shares, says analyst https://t.co/y4nus01Fgk
Several indicators that inflows will look a lot better today & that $GBTC outflows will continue to diminish.
Nope. In fact, the exact opposite is true, the new 'Boomer' ETF investors are the strong ones (as we predicted), it's other bitcoin owners behind the selling pressure. I'll explain: the nine new Bitcoin ETFs have taken in about $1.2b in past 5 days as price declined 8%. $GBTC hadโฆ https://t.co/X6UXyBrGy8
Bitoin Spot ETF Cumulative Flow Look at @Grayscale selling their inventory to @BlackRock ๐ https://t.co/GcfibEhNin
๐๏ธ JPMorgan report says $BTC still looks overbought ๐๏ธ Do Kwon's extradition to South Korea is delayed @JennSanasie has today's top crypto headlines on "CoinDesk Daily" ๐ https://t.co/zTQqin135I
FUN FACT: BlackRock and Fidelity spot #Bitcoin ETFs have now taken in inflows for 49 days straight. Only 30 other ETFs have ever done this ๐คฏ https://t.co/B8P71dbR1E
FUN FACT: BlackRock and Fidelity spot #Bitcoin ETFs have now taken in inflows for 49 days straight. Only 30 other ETFs have ever done this.
It may not feel like it when hundreds of millions of dollars of #Bitcoin are being dumped every day, but the gBTC ETF will eventually run out of BTC. It currently has 355,760 BTC remaining. What do you think will happen when this major source of daily supply is removed? https://t.co/YXgq5Q7k7t
Mar 22 Update: #Grayscale decreased 5,900 $BTC(-$372.7M) and currently holds 355,759 $BTC($22.47B). #Blackrock added 3,577 $BTC(+$226M) and currently holds 242,830 $BTC($15.34B). 9 ETFs(Including #Grayscale) decreased 2,460 $BTC(-$155.4M). https://t.co/usPgwLMxVU https://t.co/zDjHLs4er6
#Glassnode reports the upcoming #Bitcoin halving may not impact $BTC economics as before, due to the rise of spot ETFs. Spot ETFs, by attracting more investors through traditional exchanges, have introduced significant demand, potentially offsetting the halving's supply squeezeโฆ https://t.co/KIW7hnTw9H
Bitcoin slipped back to $64K as Grayscale $GBTC outflows continue to overwhelm buying at the other spot ETFs. @sndr_krisztian reports https://t.co/7FrRMZ7YUe
4 straight days of net ETF outflows. GBTC has been negative throughout as people move to lower fee options, but the offset of other ETFs has been much less than earlier weeks. https://t.co/pHeEWGXDWZ
Bitcoin declined over 5% on Marchย 22 as spot ETFs recorded negative numbers for the fourth consecutive day, largely due to Grayscale GBTC exits https://t.co/rDZW44ou6B
๐ฃย #BITCOIN HALVING REPORTโS OUT! ๐ฃ ๐ Check how the Fourth Halving will shake up the mining sector: โข Hashprice, Hashrate, and Diff. projections โข How much will Hashrate drop? โข ASIC Breakeven Costs โข ASIC Prices Impact Get the full report! ๐๐ป https://t.co/4huLjsiFvW
GBTC outflows totaled $358 million yesterday which is around ~5700 BTC. Outflows can persist at this pace in bitcoin terms for 61 more trading days: https://t.co/so0MpTQYou
$IBIT and $FBTC have now taken in cash for 49 straight days, something only 30 other ETFs have ever done (and none of them did it right out of gate). Among active streaks they 4th after $COWZ $CALF (which are over 100 days, damn) and $SDVY. Great chart from @thetrinianalyst https://t.co/CUxFNFa7tN
NEW: Bitcoin faces a bumpy road ahead, according to a JPMorgan Report on Thursday ๐ Despite a recent rebound, BTC's overbought state and significant ETF outflows hint at more profit-taking as we near the halving event.
๐ธ Latest data shows US Spot #Bitcoin ETFs with a total net inflow of $11.32B, with a daily outflow of -$94M on 21 March. https://t.co/VMFpt8fKUZ
#Bitcoin ETFs dumped at the open ๐ฟ $ibit $bito $arkb
NEW: โNet inflows into spot #Bitcoin ETFs have slowed markedly. As we approach the halving event this profit taking is more likely to continue, particularly against a positioning backdrop that still looks overbought,โ says JPMorgan https://t.co/hdyNQK2yH5
NEW: According to @EricBalchunas, despite over $1.7 billion in outflows this week, Grayscale still ranks 3rd out of 3,400 ETFs in annual revenue generated ๐๐ฎ https://t.co/sb2m2ruGY3
It's been strong outflows from Grayscale's produce this week. https://t.co/l5GWdk4oGU
Yesterday marked the fourth consecutive day of net outflows from ETFs, but pace has slowed down. https://t.co/aDMbFgq5Y5
NEW: For every dollar that has been withdrawn from GBTC, a nearly equal amount has flowed into BlackRock's #Bitcoin ETF ๐ https://t.co/ovbOjMG8TY
Thursday saw the biggest bitcoin ETF inflows in 3 days: besides the constant GBTC outflows which will end once the fund hits 0, no other fund was selling and IBIT jumped (BITO is futures) https://t.co/hBG8Aok2xK
Bitcoin ETFs shed $836 million as BTC price slips https://t.co/sk8qJKZrkQ
Not great but the think today we will already have positive net flows again Barry seems to be offloading pretty hard but Blackrock picking up the pace and Fidelity will surely follow after imo My base case is net outflows are an outlier due to FOMC uncertainty Chop or up imo https://t.co/d8luZ2NFoE
UPDATE: JP MORGAN SUGGESTS #BITCOIN REMAINS OVERBOUGHT, DESPITE THE RECENT DECLINE
Bitcoin-ETF volumes fell by 4,266 #BTC during the week. https://t.co/DhV1Uv0HXF
.@jpmorgan says the $BTC sell-off may not be over as positioning remains overbought and net inflows into spot #bitcoinETFs have slowed considerably. @willcanny99 reports https://t.co/jKmQJfcSWN
Grayscaleโs Bitcoin ETF outflows topped $358 million, but analysts predict it will soon thin out. https://t.co/ckCnqyhy5V
.@Grayscale decreased 6,899 $BTC (-$462M) and currently holds 361,659 $BTC ($24.23B). 9 ETFs (Including Grayscale) decreased 4,413 $BTC (-$295.6M). https://t.co/Mkk7JmQa8r https://t.co/kjW4B1TQxG
Couple of people reach out to me. Seems like this week Genesis are finishing selling their $GBTC shares. The statement said they will be returning digital assets "in kind" which means they're selling GBTC shares for BTC. The BTC isn't hitting the market. https://t.co/C1QzHw3cke
Yesterday's ETF flows by @FarsideUK Another negative day, that's 4 in a row for a total of $94 million in outflows. Blackrock had a decent day with $233.4 million. Honestly surprised by how big the outflows are from $GBTC. Another $358.8 million and that makes a total of $1.83โฆ https://t.co/ZduCjvWshH
UPDATE (3/21) Bitcoin ETF Net Out Flows -1.4K #BTC New 9 ETFs + 4.1K BTC Total Bitcoin Held in ETFs 823.6K BTC Highlights Blackrock + 3.6K #BTC GBTC -5.5K #BTC Follow our ETF tracker for live updates https://t.co/y1OQFPs0RP
More than a few days of total outflows respectfully due to lower inflows seen from larger Spot ETFs like $IBIT this was inevitable imo, interestingly though this has created a bit of a "wall of worry" situation for $BTC So far given price action it's quite evident the marketโฆ https://t.co/vNDQojxDGE
โ BlackRockโs Bitcoin ETF, $IBIT, continues to see strong demand from investors ๐ $233 million in new inflows today ๐ https://t.co/04pfLrfH0L
$GBTC outflows for the past few days after the peak outflow day on March 18th: March 18: -$643M March 19: -$444M March 20: -$387M March 21: -$359M Outflows are waning. I'd guess a mixture of Genesis finally liquidating their $1.5B $GBTC & FOMC deriskooors out.
$GBTC outflows for the past few days after the peak outflow day on March 17th: March 17: -$643M March 18: -$444M March 19: -$387M March 20: -$359M Outflows are waning. I'd guess a mixture of Genesis finally liquidating their $1.5B $GBTC & FOMC deriskooors out.
๐จ gBTC saw another day of major outflows with -$358.8M
$358.8 million out of $GBTC, outflows ain't stopping. GBTC has now lost 42.3% of it's shares since converting to an ETF. https://t.co/bxFtNrgKsv
๐จ $GBTC investor exodus continues w/ -$359 million on 3/21๐ Grayscale lost another ~5,500 Bitcoin today (~1.5% of its BTC) https://t.co/4uWUewXDsw
Bitcoin has peeled back more than 10% from a record high as the appetite for spot Bitcoin ETFs contracted and JPMorgan warns the retreat has room to deepen https://t.co/M6nUYnRzub
Flows into #Bitcoin ETFs have slowed further. Looks like they got the eager boomers now will be a struggle to attract more. $ibit $bito $arkb $btc
Bitcoin ETFs see record three-day outflow as retail investors "dart in and out of positions." https://t.co/C0Ch8rtntq
Tomorrow, we will unveil the changes that could hit #Bitcoin miners. โ๏ธ How will the imminent halving shape the mining landscape? As the block reward is cut in half, who will survive? Insights await! Read our previous posts here: https://t.co/i00CNL4E6f https://t.co/nq9HkBUefX
FUN FACT: Bitwise's spot #Bitcoin ETF has over $50,000,000 in inflows so far this week ๐
Yesterday was exciting because ETFs had net out flows and the ~$5k BTC increase implies about $2 billion real money came from somewhere ๐ค (flags of certain countries emojis here)
ye olde GBTC panic liquidations
Navigating the #Bitcoin Halving: Glassnode Report Discusses a New Trading Landscape https://t.co/Ws3vv8OS3h
Spot Bitcoin ETFs experienced their largest three-day withdrawal since their launch in January https://t.co/ZSBZJDQVD3
GBTC only has 356K bitcoins left to liquidate, down from 619K two months ago
Mar 21 Update: #Grayscale decreased 6,899 $BTC(-$462M) and currently holds 361,659 $BTC($24.23B). 9 ETFs(Including #Grayscale) decreased 4,413 $BTC(-$295.6M). https://t.co/rKfvG1265E https://t.co/m1OJLmTFOV