Bitwise Asset Management has announced its intention to acquire the Osprey Bitcoin Trust (OBTC) within the Bitcoin exchange-traded fund (ETF) market. This acquisition, revealed in a press release on Tuesday, will see Bitwise integrate Osprey’s $120 million in assets into its own Bitwise BTC ETF (BITB). As part of the
Bitcoin (BTC) took a brief plunge yesterday, managed to hover at the $62,000 mark, and wiped off all the gains within the last 24 hours. BTC crashed by over 5.90%, marking one of the largest declines since August. The bears continued to restrain the bulls from recovering, slipping to a
The bears are restraining the bulls from making the move, and the recent bullish momentum of BTC is gradually diminishing. Bitcoin is at a critical juncture, with its price hovering around $62,000. The current price momentum is at a declining pace, down by 1.56% in the last 24 hours. Notably,
BlackRock’s iShares Bitcoin Trust ETF (IBIT) has witnessed a significant surge in inflows, marking its highest daily net inflow in 35 days. On August 26, IBIT recorded a $224.1M net inflow as investors took advantage of BTC’s brief slip under $64K. This marks the most substantial inflow since July 22.
Bitcoin has rebounded strongly, recently reaching $65,000 after a dip to $49,000 earlier this month. Over the past week, the cryptocurrency has surged by 9%, with a notable boost on August 23 when it crossed the $61,000 mark. This rally has instilled a bullish sentiment among traders and investors. The
Tron [TRX] founder Justin Sun is once again in the spotlight, this time for his involvement with Wrapped Bitcoin (WBTC). Recently, Sun’s wallet, identified as “0xbe6,” withdrew 637 WBTC (valued at $40.8 million) from Binance on the Ethereum blockchain, just eight hours prior. This activity follows a custody deal with
With the continuation of a seven-day string of positive inflows on Friday, the aggregate value of the spot bitcoin exchange-traded funds in the US hit its highest point so far in August, at around $58.4 billion. In addition, according to statistics from SoSoValue, Friday’s net influx of $252 million was
The assets under management (AUM) of spot Bitcoin ETFs in Hong Kong have topped 2 billion Hong Kong dollars, or around $256 million. When compared to their American equivalents, the Bitcoin (BTC) exchange-traded funds in Hong Kong have gotten off to a slower start. Data from SoSo Value shows that
In the latest crypto market update, Bitcoin has surged past $65,000 following signals from Federal Reserve Chairman Jerome Powell that rate cuts may be on the horizon. Powell’s comments on cooling inflation and concerns about labor market weakness have fueled optimism among investors, pushing Bitcoin’s price up by over 6.79%
U.S. spot bitcoin ETFs have now had six consecutive days of positive inflows, with Thursday’s data showing net inflows of $64.91 million. SoSoValue data shows that on Thursday, the biggest inflow among the funds was $75.49 million into BlackRock’s IBIT, the biggest spot bitcoin ETF by net assets. A total
