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According to data from BitMEX Research, GBTC witnessed a decrease in outflows, with $394.1 million on January 25, down from $429.3 million on Wednesday and $515.3 million on Tuesday.
The JPMorgan analysts highlighted BlackRock and Fidelity Investment’s spot Bitcoin ETFs as emerging competitors to GBTC.
While it is expected that the selling pressure will continue to ease as FTX is done selling its shares, large outflows from GBTC could result in further price declines in Bitcoin.
Nine new spot Bitcoin ETFs have accumulated over 100,000 BTC, valued at $4 billion AUM. BlackRock’s IBIT leads with 40,213 BTC.
Among the newly launched nine Bitcoin ETFs, BlackRock and Fidelity’s ETFs have witnessed inflows northwards of $1.2 billion each.
Court documents in Delaware reveal Terraform’s assets and liabilities estimated between $100 million to $500 million, with 100 to 199 creditors.
The planned IPO also poses a test for Reddit users to show their loyalty to the platform.
SkyBridge’s Anthony Scaramucci stated that Bitcoin price could surpass $170,000 a year after Bitcoin halving in April 2024.
The 54th World Economic Forum in Davos gathers global leaders to discuss challenges ranging from geopolitical tensions to AI impact. Key themes include security, economic growth, AI ethics, and climate strategy.
Being the third lowest performer by trading volume among the 11 spot Bitcoin ETFs that debuted on Thursday, Valkyrie’s spot Bitcoin ETF garnered just under $9 million in trading volume during the day.
The SEC has received a filing for a covered call ETF from Grayscale, which will have no direct exposure to crypto.
Circle Internet Financial confidentially filed for an initial public offering (IPO) in the US.
In addition to using BTC on X, Musk hinted at the possibility of using BTC as currency on Mars.
The crypto community is discussing the chances to see the spot ETH ETF applications approved in May 2024.
The approved ETFs are expected to attract significant inflows. Estimates suggest that Valkyrie could see $200-400 million, with the overall market experiencing $4-5 billion in inflows within the first few weeks.