Tag: Grayscale

The recent rally in Bitcoin Exchange-Traded Funds (ETFs) has ignited a resurgence in the digital asset investment arena, instilling confidence within the crypto community. James Butterfill, CoinShares’ Head of Research, notes a significant milestone as Bitcoin ETFs attracted an impressive inflow of $862 million last week, marking a notable turnaround.

In a move to expand its suite of investment offerings, Grayscale Investments, a leading digital currency asset manager, has announced the launch of its new Dynamic Income Fund tailored specifically for accredited investors.

Crypto asset investment products witnessed a $942 million outflow last week, following a record seven-week influx of $12.3 billion. This discharge figure is also a record. New ETF issuers in the United States experienced a $1.1 billion influx. However, this largely compensated Grayscale’s massive $2 billion outflow last week. Let’s look at the specifics.

Nate Geraci, President of ETF Store, raised critical questions regarding the SEC’s stance on approving Ether (ETH) futures exchange-traded funds (ETFs) while potentially hesitating on spot ETFs. Geraci’s inquiries stem from the approval of ETH futures ETFs in October and the perceived inconsistency in protecting investors. Expressing concerns over SEC’s reluctance to greenlight spot ETFs despite the approval of futures-based counterparts, Geraci underscored the need for regulatory clarity.

As Bitcoin achieves fresh record highs against the dollar, Grayscale’s GBTC remains resilient, with its assets under management holding steady at $28.4 billion. Despite experiencing significant outflows totaling $9.2 billion since its conversion to a spot Bitcoin exchange-traded fund, Grayscale’s AUM remains largely unaffected. Analysts attribute this resilience to the recent surge in Bitcoin’s price, which has offset the fund’s outflows. Grayscale’s approach to management fees, though contentious, is proving to be a savvy business move amidst the ongoing market dynamics.

On Monday, the U.S. spot Bitcoin ETF witnessed its second-highest daily trading volume, reaching $5.5 billion, according to Bloomberg analyst Eric Balchunas. BlackRock’s IBIT trading volume alone stood at $2.4 billion, with assets under management (AUM) exceeding $11 billion. Grayscale, Fidelity, ARK, Bitwise, and others also reported significant trading volumes, reflecting a surge in investor interest. Balchunas highlighted the impressive performance of these ETFs, suggesting a continuation of the bullish trend

Despite Bitcoin’s remarkable 45% surge in February, surpassing the $60,000 mark for the first time since November 2021, Grayscale, a leading cryptocurrency asset manager, has expressed caution. The company’s analysts have flagged macroeconomic factors, particularly inflation and its potential impact on Federal Reserve policy, as potential hurdles to sustained cryptocurrency appreciation.

Apple users have been urged to be vigilant as cybersecurity firm Kaspersky reports a verified macOS exploit targeting the latest operating system version. The exploit is designed to deceive Exodus wallet users into unwittingly downloading a fraudulent version of the software. The malware targets macOS versions 13.6 and above, Intel or Apple Silicon devices are highly vulnerable.

The landscape of Bitcoin spot ETFs witnessed mixed signals on January 23rd, as total net outflows reached $105 million. While the behemoth Grayscale Bitcoin Trust (GBTC) shouldered the bulk of this with a $515 million net outflow, other smaller spot ETFs collectively saw inflows totaling $410 million. This highlights the evolving dynamics within the Bitcoin ETF space, with newer entrants attracting interest despite broader market pressures.

According to a news article, Grayscale’s Bitcoin spot ETF GTC had a net outflow of $394 million on January 25, with a single-day trading volume of $502 million . Net outflows slowed slightly over 3 trading days ($429 million on January 24, $515 million on January 23, and $640 million on January 22) . Grayscale ETF’s cumulative net outflows have reached US$4.079 billion, and it still holds US$20.028 billion in net assets .