Bitcoin Whale Profits Soar To $16.3 Billion Despite Mixed Spot BTC ETF Flows

Bitcoin Whale Profits Soar To $16.3 Billion Despite Mixed Spot BTC ETF Flows
фото показано с : bitcoinist.com

2024-3-26 18:00

Ki Young Ju, the founder of CryptoQuant, a crypto analytics platform, now says historic inflow into Bitcoin is the key driver of profitability among short-term whales, including spot Bitcoin exchange-traded fund (ETF) buyers.

Referencing on-chain data, the founder notes that these investors have amassed roughly $16.3 billion in unrealized profit, translating to a gain of about 16%. 

BTC Snaps Back Bullish After Correcting Lower

The revelation comes roughly a day after the world’s most valuable coin broke back above $70,000, extending gains over the weekend. After a series of lower lows threatened to wipe out gains, the coin rose sharply over the weekend, breaking above the $69,000 resistance level.

When writing on March 16, BTC is trading above the middle BB, a dynamic price level chartists use to mark out resistance or support, depending on the trend. The extension on March 25 might also spur more demand, lifting the coin above $73,800 and to new territory.

Spot Bitcoin ETFs continue to shape the coin’s price action. Even before approval in mid-January 2024, rumors of its green lighting by the strict United States Securities and Exchange Commission (SEC) lifted prices.

The coin rallied above $40,000, reaching highs of around $47,200 on January 8. After the approval, prices briefly contracted before rocketing higher, registering new all-time highs in early March 2024.

Interest in spot Bitcoin ETFs has seen its total assets under management (AUM) surge to $60 billion in around ten weeks. It took Gold ETFs approximately 15 years to reach the same milestone. This uptick points to the upswing in demand, possibly from other players and institutions seeking exposure to the asset.

Eyes On Inflows Into Spot Bitcoin ETFs

Still, while spot Bitcoin ETFs shape price action, cracks are beginning to emerge. The past week marked the second time in the coin’s history to record five consecutive days of outflows. Increased outflow coincided with Bitcoin prices edging lower, dropping to as low as $63,500. However, this trend ended on March 25, with Fidelity’s FBTC leading the rebound. 

For now, it remains to be seen whether inflow will pick up pace in the sessions ahead. If more capital flows to spot Bitcoin ETF issuers, reversing last week’s impact, it is highly likely that prices will also recover. Even so, whether the coin will break above $74,000 ahead of Bitcoin halving is unclear.

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bitcoin etf spot historic says key inflow

Источник: bitcoinist.com

bitcoin etf → Результатов: 126


Инвесторы вывели $288 млн из Bitcoin ETF: анализ ситуации

Bitcoin ETF продолжают терять деньги — за последние пять дней отток средств составил $288 миллионов. Третьего сентября ситуация обострилась: Grayscale Bitcoin Trust потерял $50. 4 миллиона, а Fidelity — $162.

2024-9-6 11:31


Xедж-фонд Millennium Management сообщил, что владеет биткоин-ETF на сумму $2 млрд

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2024-5-17 14:18


Grayscale Records Inflows Into Spot Bitcoin ETF For The First Time – Here’s The Best Platform To Trade It

Global asset management company and the world’s largest Bitcoin ETF provider, Grayscale, has recorded new inflows into its Spot Bitcoin ETF, Grayscale Bitcoin Trust (GBTC). This development marks a significant milestone for the popular Bitcoin ETF provider, which has consistently experienced millions of dollars in outflows daily.

2024-5-8 12:00


Фото:

VanEck lead charge as Australia prepares for Bitcoin ETF launch

Australia is poised to join the global trend of countries, including the US and Hong Kong, allowing their citizens to invest in Bitcoin exchange-traded funds (ETFs). ASX to approve Bitcoin ETFs Earlier today, Bloomberg reported that the Australian Securities Exchange (ASX) could approve its inaugural batch of spot Bitcoin ETF before the end of the […] The post VanEck lead charge as Australia prepares for Bitcoin ETF launch appeared first on CryptoSlate.

2024-4-29 15:10


Bitcoin ETF Fee Wars Heat Up As Grayscale Mulls Spin-Off; VanEck Slashes Fees To Zero Until 2025

The Bitcoin ETF market has entered a new phase of intense competition as asset managers and issuers strive to attract clients and expand their assets under management (AUM).  Amid this fee war, digital asset manager Grayscale Investments has announced its consideration of a spin-off for its spot Bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust […]

2024-3-13 18:30


Bitcoin ETF Breaks Records: BlackRock’s IBIT Joins Elite ‘$10 Billion Club’ Amidst Soaring Demand

The demand for spot Bitcoin exchange-traded funds (ETFs) has surged since their recent approval on January 10, with BlackRock’s IBIT Bitcoin ETF leading the way. This ETF has reached impressive milestones in less than two months, attracting significant investor interest and opening doors for various market participants to invest in the largest cryptocurrency directly.

2024-3-3 00:30


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