BlackRock is set to pump liquidity of its IBIT ETF by adding multiple Authorized Participants, with a new total of nine.
The Australian Securities Exchange (ASX) has already granted approval to Monochrome thereby expecting the Cboe to clear the application by June.
In an unprecedented shift in the Bitcoin ETF market, Cathie Wood’s ARK 21Shares Bitcoin ETF (ARKB) experienced a record outflow of $87.5 million on April 2, surpassing Grayscale’s Bitcoin Trust (GBTC) for the first time.
Bitcoin’s volatility in Asia is linked to automated trading reacting to US ETF flows, causing significant market swings as investors react to data on outflow and inflows from spot-Bitcoin ETFs.
After huge demand for the spot Bitcoin ETF in the first two months of launch, Wall Street players like ProShares are coming up with new versions of this investment product.
Despite the uncertainty regarding Ethereum ETFs, the overall projection for Bitcoin is favorable.
Hougan’s bullish prediction is based on Bitcoin’s impressive growth of nearly 300% over the past 15 months.
US’s success with Bitcoin ETFs challenges Japan’s stricter regulations on crypto investment products.
The prospect of spot Bitcoin ETFs gaining approval in Hong Kong represents a significant step toward the mainstream adoption of digital assets in the region.
The Bitcoin ETF market continues to see new competitors. Hashdex, a crypto asset management firm, announced its futures fund’s transformation into a spot product.
The Bitcoin market is expected to continue to grow and mature as more investors look for exposure to BTC through spot ETFs and other investment vehicles.
Grayscale’s BTC holding was down to 361.79K, from 624.28K Bitcoins it held by January 11, before ETF conversion.
Despite the strong outflows from Bitcoin ETFs, Bitcoin price bounced back above $67,000 following the dovish stand by the Fed. Analysts remain hopeful before the Bitcoin halving next month.
The delay by the US SEC on the VanEck spot Ether ETF coincides with reports about the agency investigating the Ethereum Foundation with claims of violating securities laws through its ICO.
Grayscale’s GBTC cash outflow is expected to continue in the coming weeks despite the recent move to save its clients.