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BlackRock and Fidelity continues to see inflows for their spot Bitcoin ETFs eating the market share from Grayscale as GBTC continues to bleed amid high management fees.
This resurgence in Bitcoin price is partially credited to the uptick in holdings among whale wallets containing over 1,000 Bitcoins.
After launching on the Goerli and Sepolia testnets, the Ethereum Dencun upgrade is now live on Holesky in anticipation of a mainnent launch.
As block rewards will reduce by 50% after Bitcoin halving in April 2024, BTC miners are selling heavily to finance the purchase of more efficient mining rigs.
NYCB’s share price has tanked 40% within two days amid strong stress on its real-estate portfolio causing investor panic.
Celsius said it will initiate a controlled wind-down of operations by February 28, 2024. The crypto lender will discontinue its mobile and web applications.
According to Powell, its is unlikely that the Fed will be ready to cut interest rates at the March meeting.
While all three major indexes rose, the S&P 500 hit a new record barely a week after setting a previous one.
Charles Schwab has demonstrated an increasing interest in the crypto space following initial skepticism towards the emerging economy.
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.