Crypto investment products saw their second consecutive week of outflow this year, with $500 million leaving the funds, according to CoinShares’ latest weekly report. Bitcoin dominate Bitcoin investment products experienced significant outflows last week, with a total withdrawal of $479 million. The top cryptocurrency has faced significant headwinds since the…
PayPal’s entrance into the stablecoin market on Aug. 7, 2023, was welcomed by many in the industry, with Circle CEO Jeremy Allaire stating that competition from PayPal was ‘great to have.’ The news of the launch led to a modest 4% rise in the price of Bitcoin, and within days,…
Quick Take Over the past three months, there has been a significant rise in the aggregate market cap of the top five stablecoins: USDT, USDC, BUSD, DAI, and TUSD. This value has jumped by a remarkable 10 billion from its previous low of 119 billion in October 2023, in addition…
Decentralized social media protocol Friend.Tech captured attention last year but has noticeably faded from the radar recently. CryptoSlate, using Dune Analytics data compiled by 21.co, discovered a concerning trend – the platform’s failure to attract new users, coupled with indifference from its existing user base. On Jan. 28, the platform garnered…
Quick Take The Bitcoin Exchange-Traded Funds (ETFs) have passed through 11 trading days, revealing interesting dynamics about their performance against the Net Asset Value (NAV). An ETF’s ideal situation is for its market price to equal the NAV per share. The Grayscale Bitcoin Trust (GBTC), for example, once traded at…
Bitcoin regained the psychologically important $40,000 level during the weekend after spending last week struggling to surpass $39,500. As of press time, it stands at just above $42,000, showing solid resilience at this level. This recovery positively affected the broader crypto market and the performance of public Bitcoin mining companies.…
Quick Take Recent data analysis has shown a marked increase in the premium paid by traders for Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). Following a downward trend from Jan. 22 to Jan. 25, which saw the Bitcoin futures contract consistently trading below the spot price, a phenomenon…
Hong Kong has reportedly received its first application for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the city-state. According to a Jan. 29 Tencent report, Harvest Hong Kong, one of China’s leading fund managers, submitted the first application to the Securities and Futures Commission (SFC) on Jan. 26. This…
Quick Take The eleventh trading day marked a significant milestone for the spot Bitcoin ETFs, registering a $14.8 million net inflow, according to BitMEX Research. This represents the first daily net inflow since Jan. 19, as GBTC saw its outflows moderating to $255 million, the lowest recorded since Jan. 11.…
Vanguard decided not to offer clients access to Bitcoin ETFs because the flagship cryptocurrency is an “immature asset class” that does not align with its company philosophy, according to the firm’s executives. Vanguard Global Head of ETF Capital Markets and Broker and Index Relations Janel Jackson made the statement during…