Crypto’s downturn is rippling through treasuries, ETFs and mining infrastructure, exposing how digital asset volatility reshapes balance sheets and operations.
Latest Bitcoin ETF News
Exchange-traded funds, or ETFs, are investment funds that trade on a stock market with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. They provide investors with easier exposure to a particular index of assets.
A Bitcoin ETF is similar, but the underlying asset is the Bitcoin (BTC) cryptocurrency rather than other traditional financial instruments. Bitcoin ETFs could provide institutional investors an easier way to buy into Bitcoin and crypto markets, thus making it more attractive to the broader investment community.
BTCetc, or Bitcoin Exchange Traded Crypto (BTCE), launched on Deutsche Börse Xetra in June 2020 as the first Bitcoin ETF available in the European market. ProShares Bitcoin Strategy ETF (BITO) was the first Bitcoin-linked ETF approved by the United States Securities and Exchange Commission (SEC). It launched in October 2021. Canada approved the world’s first spot Bitcoin ETF, Purpose Bitcoin ETF (BTCC), in February 2021.
As of October 2023, U.S. regulators had not approved a spot Bitcoin ETF, with the SEC expressing concerns about market manipulation, fraud, custody and investor protection in their hesitancy to approve such applications.
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Net weekly outflows from Bitcoin ETFs reached $690 million as BTC briefly touched $60,000, reigniting analyst criticism over “paper Bitcoin” and scarcity.
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Traders were active in BlackRock’s iShares Bitcoin Trust ETF on Thursday as Bitcoin plummeted, falling 12% in the last 24 hours.
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Bitcoin ETFs saw $545 million in daily outflows as BTC neared $70,000, though analysts said most investors were holding positions despite market weakness.
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Bitcoin ETFs may be sitting on their “biggest losses” since launching in January 2024, but there is a silver lining, according to an ETF analyst.
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Bitcoin’s 12-day ETF outflows, derivatives data and the crypto market in tandem trading with tech stocks suggest traders will continue to cut exposure to risk assets.
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Spot Bitcoin ETF AUM fell below $100 billion after $272 million in outflows, pushing year-to-date losses close to $1.3 billion.
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The NYSE-listed BTYB allocates most of its assets to US Treasurys while using options strategies to provide weekly income and Bitcoin-linked exposure.
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The return of spot Bitcoin ETF inflows could fuel a Bitcoin price recovery, as signs of a potential rebound to $80,000 and $85,000 emerge.
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Spot Bitcoin ETFs drew $562 million in inflows Monday, partially offsetting $1.5 billion outflows last week, while Ether ETFs remained in the red.
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ARK Invest increased exposure to Robinhood, Circle, BitMine, Bullish and other crypto-linked firms within several innovation and fintech-focused ETFs this week.
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Bitcoin flashed a major discount signal after capital outflows increased following BTC’s abrupt drop below $75,000. Historical data now points to a potential 10% rebound rally in the short-term.
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Market and derivatives data suggest Bitcoin may struggle to fall materially below its year-to-date low of $74,680. Cointelegraph explains why.
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Crypto ETPs posted two consecutive weeks of outflows, totaling $3.43 billion and driving $1 billion in year-to-date losses, according to CoinShares.
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Following its weekend rout, Bitcoin dropped to $74,600 on Monday, marking a nine-month low for the cryptocurrency.
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