Bitcoin News

Bitcoin News
Bitcoin Bulls Emerge as Inks Highlights Promising Price Pattern
Bitcoin NewsNews

Bitcoin Bulls Emerge as Inks Highlights Promising Price Pattern

Christopher Inks, an established crypto expert, has released his latest technical analysis,…

By Aima Raza
Bitcoin Halving Sparks SHIB Frenzy With Lucie's Insights
NewsBitcoin News

Bitcoin Halving Sparks SHIB Frenzy With Lucie’s Insights

The crypto community is counting down the days until Bitcoin's halving. Shiba…

By Rubab Fatima
Bitcoin Wizards Emerges as Dominant Force in Crypto and NFT Markets
Bitcoin NewsNews

Bitcoin Wizards Emerges as Dominant Force in Crypto and NFT Markets

In an amazing rise, Bitcoin Wizards, a new project that deals with…

By Nayab Fatima
Bitcoin Mining Stocks Slump Ahead of Halving
Bitcoin NewsNews

Bitcoin Mining Stocks Slump Ahead of Halving

The stock prices of major Bitcoin mining companies, such as Marathon Digital…

By Sana Bukhari
Bitcoin Advocate Senator Raises Alarm Over CBDC Privacy
NewsBitcoin News

Bitcoin Advocate Senator Raises Alarm Over CBDC Privacy

At the Bitcoin Policy Summit not long ago, U.S. Senator Marsha Blackburn…

By Sana Bukhari
Bitcoin Dominance At 3-Year High Amid ETF Surge
Bitcoin NewsNews

Bitcoin Dominance At 3-Year High Amid ETF Surge

Bitcoin has become the most popular digital asset in three years, showing…

By Aima Raza
Bitcoin ETF Surge Amid Market Volatility Sparks Optimism
Bitcoin NewsNews

Bitcoin ETF Surge Amid Market Volatility Sparks Optimism

Spot Bitcoin ETFs changed the way people deal in cryptocurrencies in a…

By Rubab Fatima
Bitcoin (BTC) Slips 30% Relative to Gold
NewsBitcoin News

Bitcoin (BTC) Slips 30% Relative to Gold

Bitcoin lost a lot of value when it fell to just above…

By Sana Bukhari
Over $166 million and more than 2,500 Bitcoin were taken out of the Grayscale Bitcoin exchange-traded fund (ETF), which is also known as GBTC, on Friday, April 12. Farside Investors claims that since the Bitcoin ETF started trading in January, more than $16.2 billion has been taken out of GBTC. Every day in April, between $75 million and $300 million have been taken out of the Grayscale Bitcoin Trust (GBTC). Bitcoin ETFs, on the other hand, are not receiving many new investments, which shows that buyers are losing interest. GBTC reported substantial outflows of $767 million this week, which added to the general trend of Bitcoin ETF flows moving downwards. With BlackRock's help, the IBIT Bitcoin ETF now has more than $15 billion in assets under control, bringing it closer to Grayscale's Bitcoin reserves. It's thought that a significant portion of the funds that left GBTC may have gone to BlackRock. Bitcoin Trust Outflow Analysis Earlier this week, Grayscale CEO Michael Sonnenshein gave traders and buyers reason to be optimistic by implying that outflows from the Grayscale Bitcoin Trust might level off. However, new information indicates that things may not be going as planned. The high management fee is one of the main reasons why GBTC has lost an enormous amount of funds. Sonnenshein has not wanted to lower the fees, even though they are losing customers to rivals. When it comes to U.S. Bitcoin ETFs, GBTC has the highest management fees at 1.5% per year, while its competitors charge an average of 0.30%. Sonnenschein said that when new commodity or theme-based exposure products come out, like the Grayscale Bitcoin Trust, the markets usually get very enthusiastic. As time goes on, though, these items become more mature, which causes the market to become more concentrated as investors focus on a few products. According to figures from Farside, GBTC saw outflows of $17.5 million on April 10. This was an enormous decrease from April 9, when that number was $154.9 million. GBTC had the least amount of funds leave the market on February 26, when $22.4 million left the market. Over the past four months, GBTC has shed an average of $257.8 million every day. Launched in 2015, GBTC became an ETF in January along with nine other Bitcoin ETFs. This happened after Grayscale won a case against the SEC, which led to a review of its earlier denial of its GBTC conversion bid. Genesis, a crypto loan company that went out of business recently sold about 36 million GBTC shares for 32,041 Bitcoin.
Bitcoin NewsNews

Bitcoin ETFs See Decline Amid GBTC Exodus

Over $166 million and more than 2,500 BTC were taken out of…

By Aima Raza
Bitcoin Plunges Below $67,000 Amid Global Inflation Worries
NewsBitcoin News

Bitcoin Plunges Below $67,000 Amid Global Inflation Worries

Bitcoin, the most well-known digital currency that is known for being strong,…

By Rubab Fatima