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Bitcoin Spot ETF approval is a very big milestone for Bitcoin market. It makes Bitcoin more 'legal' and attract bigger capital to this market.
A website to track Bitcoin Spot ETFs' holdings.
- https://heyapollo.com/bitcoin-etf
If you use Twitter, you can follow
- https://twitter.com/thomas_fahrer
- https://twitter.com/Capital15C
(https://pbs.twimg.com/media/GEfGQ7wagAAsrk2?format=jpg&name=900x900) (https://twitter.com/thomas_fahrer/status/1749584980047790203)
(https://pbs.twimg.com/media/GEfPwqGW0AAnyKM?format=jpg&name=900x900) (https://twitter.com/Capital15C/status/1749595418755809537)
We will not see instant effects from Bitcoin Spot ETFs on Bitcoin Spot market because those companies are buying Bitcoin through OTC market. Soon they will knock the Bitcoin Spot market and let's use your imagination to see how price will react.
Bitcoin Spot ETF Trackers
| | | | | | | | | | | | | | | | | | | | | |
| | | Link | | | Notes | | |
| | | Heyapollo.com (https://heyapollo.com/bitcoin-etf) | | | ETF details (fee), charts exclusively animated | | |
| | | Bitcoin Strategy (https://www.bitcoinstrategyplatform.com/etfs) | | | Chart, Newsletter | | |
| | | Blockworks.co (https://blockworks.co/bitcoin-etf) | | | ETF details (fee, status, AUM ..) | | |
| | | Coinglass.com (https://www.coinglass.com/bitcoin-etf) | | | ETF details (fee, status, AUM ..) | | |
| | | ETFdb.com (https://etfdb.com/themes/bitcoin-etfs/) | | | Bitcoin ETFs List (factsheet, ...) | | |
| | | Farside.co.uk (https://farside.co.uk/?p=997) | | | Bitcoin ETF Flow (table, cumulative flow chart) | | |
| | | Bitcointreasuries.net (https://bitcointreasuries.net/) | | | Bitcoin ETF overview, stats, balance sheet history | | |
| | | Daily Bitcoin Spot ETF volumes on Trading View (https://www.tradingview.com/script/6CtUUCF5-Daily-Spot-Bitcoin-ETF-Volumes-USD/) | | | A script on Trading view. | | |
Note:
- It was posted first in that topic, on Bitcointalk (https://bitcointalk.org/index.php?topic=5482670.0)
- I leave the source link to avoid plagiarism accusation.
- I excluded/ included minor things from an original thread if necessary.
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If you want to watch Grayscale holding, Coinglass has a chart for it
- https://www.coinglass.com/pro/gray/Grayscale
Bitwise Bitcoin ETF (BITB) announced (https://twitter.com/BitwiseInvest/status/1750224060620111912) its Bitcoin public address
(https://pbs.twimg.com/media/GEoLITZaIAAIfqQ?format=jpg&name=900x900)
BlackRock and Fidelity (https://twitter.com/thomas_fahrer/status/1750376733839413268) speed up their accumulation and temporarily stand strongly at two first positions if we exclude Grayscale.
(https://pbs.twimg.com/media/GEqVwVjbYAASdKa?format=jpg&name=900x900)
If you want to watch an animated video for Bitcoin Spot ETF accumulation race, visit the website.
- https://heyapollo.com/bitcoin-etf
Cathie Wood made another decision to rotate $BITO to $ARKB (https://twitter.com/Capital15C/status/1750357857319436452). She looks very bullish with Bitcoin but it is not strange as 25% of her assets is in Bitcoin.
(https://pbs.twimg.com/media/GEqFMdkW0AA-Ir2?format=jpg&name=900x900)
Since the launch of 11 Bitcoin Spot ETFs, they have bought 119,020 (https://twitter.com/Capital15C/status/1750320938023874571) [btc].
(https://pbs.twimg.com/media/GEpjnalWoAAXd2M?format=jpg&name=900x900)
Do you hold your bitcoin or sell it to those Bitcoin Spot ETFs?
List of Bitcoin Spot ETFs and their fees.
- Fee is a partial reason of migration from Grayscale.
(https://i.ibb.co/Qj9HYHL/BTCETCTracker.png) (https://heyapollo.com/bitcoin-etf)
(https://i.ibb.co/Hn6FzBP/Grayscaleholding.png) (https://www.coinglass.com/pro/gray/Grayscale)
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There are some other Bitcoin Spot ETF trackers.
- https://www.bitcoinstrategyplatform.com/etfs
(https://pbs.twimg.com/media/GEy5wULXQAA1FEU?format=jpg&name=900x900) (https://twitter.com/therationalroot/status/1750980384479699225)
You can subscribe to their newsletter on Substack.
- https://bitcoinstrategy.substack.com/i/141070189/live-etf-tracker
Some more
- https://blockworks.co/bitcoin-etf
- https://www.coinglass.com/bitcoin-etf
- https://etfdb.com/themes/bitcoin-etfs/
- https://farside.co.uk/?p=997
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A summary report from BitMEX research for Bitcoin Spot ETF Flow with data from 11 Jan to 26 Jan 2024.
Grayscale is a hub of market observation because of huge outflow from Grayscale and they actually caused selling pressure as well as some uncertainty and fear in the market last two weeks. Grayscale assumed to sell their bitcoin in OTC market but effects from their selling is in psychological aspect as well.
This week will help us to discover whether the sell pressure from Grayscale will reduce much more or even stop.
(https://pbs.twimg.com/media/GE1Rq-WWQAAxwkq?format=png&name=900x900) (https://twitter.com/BitMEXResearch/status/1751145871742324768)
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This is true, as I read in some Telegram channels that Grayscale amounts are distributed among some ETF funds as follows:
The first stage: transferring the amount from Grayscale to the deposit wallet in Coinbase.
The second stage: Transfer from the Coinbase deposit wallet to the Hot wallet for direct trading.
The third stage: Transferring the amount from the Hot Coinbase wallet to the BlackRock wallet.
This means that the Coinbase platform operates as an OTC platform at these stages.
What is the purpose of these restricted fund transfers or sales? The goal is only one: market balance.
Conclusion: The market will start to rise if they enter the stage of direct purchase from the spot market.
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What is the purpose of these restricted fund transfers or sales? The goal is only one: market balance.
Conclusion: The market will start to rise if they enter the stage of direct purchase from the spot market.
Grayscale bought bitcoin on behalf of their customers and recent days, they did not sell bitcoins for themselves but sell it on behalf of customers. Reasons behind customer request can be they already feel enough profit and want to take profit; or they want to move to other Bitcoin Spot ETFs with cheaper fees than Grayscale.
Whatever actual reasons are, I believe selling pressure from Grayscale will become smaller and smaller with time. They don't have unlimited bitcoin to sell and not all their customers want to exit from Grayscale.
More important, other Bitcoin Spot ETFs have bigger capital to spend for buying than what Grayscale has for selling.
On day 11, after approvals, there is $225 net inflow from all Bitcoin Spot ETFs and new 9 ETFs will soon surpass MicroStrategy.
(https://pbs.twimg.com/media/GFE8EIEWwAAEsWm?format=jpg&name=900x900) (https://twitter.com/BitMEXResearch/status/1752247921485951176)
(https://pbs.twimg.com/media/GFFDvzSbQAA3z9c?format=png&name=900x900) (https://twitter.com/thomas_fahrer/status/1752256223469330700)
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Whatever actual reasons are, I believe selling pressure from Grayscale will become smaller and smaller with time. They don't have unlimited bitcoin to sell and not all their customers want to exit from Grayscale.
More important, other Bitcoin Spot ETFs have bigger capital to spend for buying than what Grayscale has for selling.
It is certain that the selling pressure from Grayscale will get smaller and smaller over time because their amounts of Bitcoin are eventually limited and they will soon have to stop at some point because it is impossible that they will sell all the amounts they have.
So yes, when other Bitcoin Spot ETFs buy this Bitcoin, there will be a kind of balance in the market and a fair distribution of Bitcoin among these companies, which may be a reason for relative stability in the market when these quantities run out.
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It is certain that the selling pressure from Grayscale will get smaller and smaller over time because their amounts of Bitcoin are eventually limited and they will soon have to stop at some point because it is impossible that they will sell all the amounts they have.
I expect the same and I think it is a logical expectation.
A little bit correction, selling pressure from Grayscale will stop when their customers stop submit request to Grayscale to withdraw money. Then Grayscale will stop deposit their bitcoins to Coinbase and sell it.
So yes, when other Bitcoin Spot ETFs buy this Bitcoin, there will be a kind of balance in the market and a fair distribution of Bitcoin among these companies, which may be a reason for relative stability in the market when these quantities run out.
There is another site which has existed for a long time, with data on Bitcoin Treasuries include Bitcoin Spot ETFs.
- https://bitcointreasuries.net/
Click on each Bitcoin Spot ETF to see overview, stats, balance sheet history.
- For example, iShares Bitcoin Trust (https://bitcointreasuries.net/entities/119)
(https://i.ibb.co/JxJv87P/Bitcoin-Treasuries-ETFs.png)
Buying momentum from Big 4 Bitcoin Spot ETFs are incredible.
(https://pbs.twimg.com/media/GFMRzw-XYAEckeL?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1752764264819966452)
-
There is another site which has existed for a long time, with data on Bitcoin Treasuries include Bitcoin Spot ETFs.
- https://bitcointreasuries.net/
Click on each Bitcoin Spot ETF to see overview, stats, balance sheet history.
Buying momentum from Big 4 Bitcoin Spot ETFs are incredible.
Really amazing information, thank you for the site that has a lot of good information and charts about ETF.
It is truly astonishing the large quantities that these companies are purchasing. It is clear that there is great competition and this is normal since this market is new and promising and still in its infancy, but we do not know how long this momentum will continue.
The thing that surprised me is that there are some governments that held large quantities of Bitcoin, especially the United States and China, The amount held by the United States is 215,000 bitcoins and China is 190,000 bitcoins!!
I honestly do not know what is the governments purpose behind acquiring these large quantities?
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Really amazing information, thank you for the site that has a lot of good information and charts about ETF.
It is truly astonishing the large quantities that these companies are purchasing. It is clear that there is great competition and this is normal since this market is new and promising and still in its infancy, but we do not know how long this momentum will continue.
Their accumulation rate is incredible!
We have another chart that includes Grayscale (buying, selling) and this one reflects the current trend of all Bitcoin Spot ETFs. Those companies did not spend a lot of money and resources to research about Bitcoin, chance to get approvals for Bitcoin Spot ETF application and actually submitted their applications.
The chart shows up, down then up again and I believe a trend for coming months will be up.
(https://pbs.twimg.com/media/GFSZnFsWQAARgIV?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1753195055416848768)
The thing that surprised me is that there are some governments that held large quantities of Bitcoin, especially the United States and China, The amount held by the United States is 215,000 bitcoins and China is 190,000 bitcoins!!
I honestly do not know what is the governments purpose behind acquiring these large quantities?
Mostly from their seizures on criminals.
-
The chart shows up, down then up again and I believe a trend for coming months will be up.
(https://pbs.twimg.com/media/GFSZnFsWQAARgIV?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1753195055416848768)
Even more interesting is how BTC ETFs' net flows impact BTC price movements, in other words whether net in- and outflows correlate with price movements.
(https://cms.zerohedge.com/s3/files/inline-images/bfm4143_0.jpg?itok=wnPM8Dux)
So - if my eyes don't deceive me... - we can say that:
a) since approval BTC ETFs have been main drivers of BTC price.
b) it was Grayscale's ETF selling that caused the price drop after the approval.
Am I right?
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We will not see instant effects from Bitcoin Spot ETFs on Bitcoin Spot market because those companies are buying Bitcoin through OTC market. Soon they will knock the Bitcoin Spot market and let's use your imagination to see how price will react.
You said well, the only reason causing less volatility in the current spot BTC market is due to the OTC trading, but one thing I don't understand is BTC market is driven by the factor of demand and supply but it also drove by the influence of the sentiments of the investors. If one of the ETFs companies is selling and buying from each other then why would it impact the market.
Because BTC is coming from one wallet and going into another wallet without being trading on exchanges means via OTC so they should not impact the market but they still make some impact on the market and you are saying in future the impact will be full. Why do you think they will chose market instead of OTC trading?
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We will not see instant effects from Bitcoin Spot ETFs on Bitcoin Spot market because those companies are buying Bitcoin through OTC market. Soon they will knock the Bitcoin Spot market and let's use your imagination to see how price will react.
You said well, the only reason causing less volatility in the current spot BTC market is due to the OTC trading, but one thing I don't understand is BTC market is driven by the factor of demand and supply but it also drove by the influence of the sentiments of the investors. If one of the ETFs companies is selling and buying from each other then why would it impact the market.
Because BTC is coming from one wallet and going into another wallet without being trading on exchanges means via OTC so they should not impact the market but they still make some impact on the market and you are saying in future the impact will be full. Why do you think they will chose market instead of OTC trading?
I don't think that buying OTC doesn't impact the BTC price.
The OTC market is not a black market, in the sense that the price in the OTC market is equal to the official price, otherwise arbitrage would take place: the black market's price of an item is different from the regulated market's price because it concerns goods whose trade is limited... or banned... or whose price is fixed by law.
BTC OTC market is not a black market because BTC trade is neither limited nor banned, nor its price is set by law.
No OTC seller will sell under the "official" price, of course.
No OTC seller will be able to sell above the official price: the buyer would go on the open market.
Conversely, no OTC buyer will buy above the official price.
Every OTC buyer will be ready to buy under the official price, but won't find any.
So there are constraints. Open/regulated markets and OTC markets are intertwined (e.g. through arbitrageurs).
I agree with TTD that buying OTC could - short term - not affect the market price, but imo it would be really short term.
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Since the launch of 11 Bitcoin Spot ETFs, they have bought 119,020 (https://twitter.com/Capital15C/status/1750320938023874571) [btc].
(https://pbs.twimg.com/media/GEpjnalWoAAXd2M?format=jpg&name=900x900)
Do you hold your bitcoin or sell it to those Bitcoin Spot ETFs?
That's a lot of BTC for 11 Bitcoin ETFs, I am amazed to see the charts, actually, I did not know before how much BTC which company has in total and what's the total amount of BTC that have been accumulated by these ETFs companies, but this data is really helpful, thanks for that (+1). I will bookmark these websites for future use.
And I am glad that I hold onto my BTC, at least some of them, actually, I had to sell some to manage some funds, but I hope in the future I will be able to accumulate more, halving is still 2 months away. One thing I have admitted as a first-time investor in BTC who is waiting for the bull run to make some profit is that holding is not as easy a task as it looks. After seeing the data, I am glad that I have my BTC and didn't sell them till now, they might not make me rich but I will be at better place than now.
PS: Are we allowed to make consecutive posts on this forum?
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I don't think that buying OTC doesn't impact the BTC price.
It does, please read below.
You said well, the only reason causing less volatility in the current spot BTC market is due to the OTC trading, but one thing I don't understand is BTC market is driven by the factor of demand and supply but it also drove by the influence of the sentiments of the investors. If one of the ETFs companies is selling and buying from each other then why would it impact the market.
The market works with speculation from participants, with fear and greed.
Even buying bitcoin through OTC market will not directly affect price on Spot market, it will impact in another way, indirectly. Like people in the market will make their speculation and feel greedy.
You need example, let's use what media and people expected when FED announced plan to increase interest rate. They will speculate much higher interest rate and total times of increases from FED than what FED actually do.
When FED announced that they are going nearly to a time point for decreasing interest rate, people will speculate it more positively than what will be actually executed by FED in future.
Why do you think they will chose market instead of OTC trading?
If you read my posts above, you can see I wrote that supply for OTC market is limited and surely smaller than for Spot market. Bitcoin Spot ETFs will massive capital to spend, will sooner or later have to buy bitcoins more in spot market than in OTC market.
I don't say they will stop accumulation through OTC market 100% but they will still do it through both markets. It's just Spot market will be bigger resource for them in future.
Some updates on Bitcoin Spot ETFs trading.
- Their total accumulated bitcoins already surpassed what MicroStrategy is holding.
- Selling pressure from Grayscale deceases as expected.
- After 26 days of trading, mostly we have green days with buying outperforms selling.
(https://pbs.twimg.com/media/GGjHlwsWAAAnApK?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1758875110700638391)
(https://pbs.twimg.com/media/GGjxV48XMAAVHsk?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1758921016825245926)
(https://pbs.twimg.com/media/GGipIHxWUAA7Lts?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1758841617815875783)
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I don't think that buying OTC doesn't impact the BTC price.
It does, please read below.
I know it does Tran,
I just formulated it very badly :D using a double negative "I don't think that buying OTC doesn't impact the BTC price".
I could say the same in a easier way "I think that buying OTC impact the BTC price" :D
As I said, the reason for that is that - unlike black markets - OTC markets are connected (e.g. through arbitrageurs) with regulated markets, so that...
no OTC seller will sell under the spot price: he would rather sell on the regulated market;
no OTC seller will be able to sell above the spot price: the buyer would go on the regulated market;
no OTC buyer will buy above the spot price: he would rather buy on the regulated market.
This interconnection between OTC and regulated allows the speculation/greedy game that you rightly describe.
* I talk about regulated markets because the definition of OTC market is unregulated market, so the opposite of OTC is regulated.
You talk about Spot markets because what comes out of regulated markets is called spot price.
It's the same, and we are both right :D
** I very much like the charts
-
The trend is going to be strong as the chart for daily bought / sold Bitcoin by Bitcoin Spot ETFs shows. They are going to 300,000 BTC bought BTC that is a huge number after only 29 days of trading. BlackRock are leading and outperforming other ETFs.
Additionally, Bitcoin exchange balance has dropped a lot since day 1 of Bitcoin Spot ETF trading according data from Coinglass.
https://www.coinglass.com/Balance
(https://pbs.twimg.com/media/GHBvdZBXgAAjyOf?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1761030008263332083)
(https://pbs.twimg.com/media/GHCOEveWQAAHz7a?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1761063670174335409)
(https://pbs.twimg.com/media/GHBzJ9YWkAAoWVT?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1761034074632650847)
(https://pbs.twimg.com/media/GG_h4paWAAAz506?format=jpg&name=medium) (https://twitter.com/HODL15Capital/status/1760874346883547370)
(https://i.ibb.co/VxgjRjX/Bitcoin-Exchange-Balance.png) (https://www.coinglass.com/Balance)
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Some summary graphics about Bitcoin Spot ETF trading in last month.
- Selling pressure from Grayscale (investors) eventually began to slow down and with less selling pressure from Grayscale, the inflow will outperform outflow.
- From January to February, net inflows of all Bitcoin Spot ETFs increases a lot from 33k [btc] to 85k [btc].
- We also can see the new supply crisis. Last 28 days, all Bitcoin Spot ETF bought 272k [btc], Grayscale sold 167k [btc] and more important, only 25,2k [btc] was mined from latest Bitcoin blocks. This crisis will become bigger after the halving in April.
- https://twitter.com/TheCryptoZombie/status/1761122243235414302
- https://twitter.com/thomas_fahrer/status/1762286478116503683
(https://pbs.twimg.com/media/GHDAxIDXoAARZPG?format=jpg&name=900x900)
(https://pbs.twimg.com/media/GHTkVNeaYAA6oJL?format=png&name=small)
-
Some summary graphics about Bitcoin Spot ETF trading in last month.
- Selling pressure from Grayscale (investors) eventually began to slow down and with less selling pressure from Grayscale, the inflow will outperform outflow.
- From January to February, net inflows of all Bitcoin Spot ETFs increases a lot from 33k [btc] to 85k [btc].
- We also can see the new supply crisis. Last 28 days, all Bitcoin Spot ETF bought 272k [btc], Grayscale sold 167k [btc] and more important, only 25,2k [btc] was mined from latest Bitcoin blocks. This crisis will become bigger after the halving in April.
- https://twitter.com/TheCryptoZombie/status/1761122243235414302
- https://twitter.com/thomas_fahrer/status/1762286478116503683
(https://pbs.twimg.com/media/GHDAxIDXoAARZPG?format=jpg&name=900x900)
(https://pbs.twimg.com/media/GHTkVNeaYAA6oJL?format=png&name=small)
With the graph you provided, I am sure that Grayscale is currently having a headache because it is too quick to sell Bitcoin at cheap prices. Even though the price of Bitcoin could reach $100k in the near future, this is approaching the halving that will occur. Imagine how regretful Grayscale will be when the target I mentioned can be achieved. this year. Hopefully this is an important lesson for Grayscale and others because, basically, this lesson has already happened in the case of the person who bought a pizza and paid 10,000 Bitcoin. Imagine how rich he would be if he didn't do something silly like that.
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With the graph you provided, I am sure that Grayscale is currently having a headache because it is too quick to sell Bitcoin at cheap prices. Even though the price of Bitcoin could reach $100k in the near future, this is approaching the halving that will occur. Imagine how regretful Grayscale will be when the target I mentioned can be achieved. this year. Hopefully this is an important lesson for Grayscale and others because, basically, this lesson has already happened in the case of the person who bought a pizza and paid 10,000 Bitcoin. Imagine how rich he would be if he didn't do something silly like that.
Grayscale is an ETF, so the bitcoins sold did not belong to them, but to their clients, a lot of whom sold their Grayscale shares to buy shares in other, much cheaper ETFs (in terms of fees), as Greyscale was the most expensive one.
And, if I remember correctly, a big portion of the sell-off was due to selling shares belonging to bankrupted FTX, to satisfy their creditors.
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Grayscale is an ETF, so the bitcoins sold did not belong to them, but to their clients, a lot of whom sold their Grayscale shares to buy shares in other, much cheaper ETFs (in terms of fees), as Greyscale was the most expensive one.
Please note that by selling, they accept to pay tax and not all investors will be ready to pay tax, that explains there are still significant investors stay at Grayscale.
And, if I remember correctly, a big portion of the sell-off was due to selling shares belonging to bankrupted FTX, to satisfy their creditors.
It's correct. The selling pressure from Grayscale (on behalf of their investors) is reducing a lot recent days. Other Bitcoin Spot ETFs absorb that selling pressure very well and they even are buying much more than selling volume from Grayscale.
FTX Sold About $1B of Grayscale's Bitcoin ETF, Explaining Much of Outflow (https://www.coindesk.com/business/2024/01/22/ftx-sold-about-1b-of-grayscales-bitcoin-etf-explaining-much-of-outflow-sources/).
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We can check Bitcoin Spot ETFs' service fees with links in OP but I just saw a summary table for it. It is helpful to summarize the fee war among Bitcoin Spot ETFs.
source (https://ecoinometrics.substack.com/p/a-bullish-bitcoin-whales-pattern).
- Grayscale is the outlier with most expensive fee. They are losing customers.
- BlackRock and Fidelity are in a most cheapest fee range and they are winners now. We have to know that they already are big ETF management entities and have good reputation before joining Bitcoin market.
- Other Bitcoin Spot ETFs can have same cheap fees like BlackRock and Fidelity or even cheaper but it is impossible for them to compete against these two.
(https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b5845fa-287c-4bb5-8786-70cf0486d819_3543x3543.png)
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- There is $2.93B in latest 7 days and the chart shows most of days have positive Bitcoin ETF flows.
- Bitcoin Spot ETFs are making noise and biggest ones like Black Rock, Fidelity are one of most successful ETFs ever. When will those ETFs buy bitcoin to the future supply of Bitcoin that is 1,352,179 more BTC.
(https://pbs.twimg.com/media/GH_MvrdXAAAyYah?format=jpg&name=900x900) (https://twitter.com/BTC_Archive/status/1765354838286618668)
(https://pbs.twimg.com/media/GIAFZR0WIAAvixa?format=jpg&name=900x900) (https://twitter.com/DylanLeClair_/status/1765440271527936093)
(https://pbs.twimg.com/media/GICtW7lW0AA72CG?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1765601667238469832)
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You guys don't know a script on trading view to get Bitcoin Spot ETF volumes cumulatively and individually.
- https://www.tradingview.com/script/6CtUUCF5-Daily-Spot-Bitcoin-ETF-Volumes-USD/
- It is added to OP as well.
BlackRock now has more bitcoins than MicroStrategy, after only 40 days of trading since an approval from SEC.
(https://pbs.twimg.com/media/GIKb_gAXAAACMYm?format=jpg&name=900x900) (https://twitter.com/DylanLeClair_/status/1766146237726699735)
(https://pbs.twimg.com/media/GINF4E4WEAAJ2Hp?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1766332311954489803)
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- There is $2.93B in latest 7 days and the chart shows most of days have positive Bitcoin ETF flows.
- Bitcoin Spot ETFs are making noise and biggest ones like Black Rock, Fidelity are one of most successful ETFs ever. When will those ETFs buy bitcoin to the future supply of Bitcoin that is 1,352,179 more BTC.
(https://pbs.twimg.com/media/GH_MvrdXAAAyYah?format=jpg&name=900x900) (https://twitter.com/BTC_Archive/status/1765354838286618668)
skip~
With the picture you have given above, it will be very normal when something is very valuable and widely used for technological development but is difficult to obtain, it will become very expensive, like this picture which shows the price increasing from day to day because demand is increasing, with movement I believe Bitcoin will touch $100k in the next few days.
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like this picture which shows the price increasing from day to day because demand is increasing, with movement I believe Bitcoin will touch $100k in the next few days.
It is not about price, you misread the chart.
The institutionalization of Bitcoin (https://ecoinometrics.substack.com/p/the-institutionalization-of-bitcoin)
Some interesting points from it.
- About 11% of future supply is the % owned by Institutions and Spot ETFs are quickly growing.
- Both Bitcoin and gold make new all time highs but Bitcoin Spot ETFs got massive positive net flows while oppositely Gold ETFs are bleeding with negative net flows. It signals changes in thinking and practice of people, investors on how they store their asset and do investment.
(https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F562380ab-0c50-47fb-92ad-d3221d1d333e_3543x3543.png) (http://)
(https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fab99882e-1b18-4050-bbaa-d91b872e8124_3543x3543.png) (http://)
Grayscale continues to be bleeding but yesterday is a green day for Bitcoin.
(https://pbs.twimg.com/media/GIbLhDeX0AIiPiU?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1767323676645453834)
The fee war continues and because lack of interest from investors, ETFs like Vanguard started to waive their service fee until 31st, 2025.
IMPORTANT UPDATE!
Because we believe in bitcoin so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025.*
*During the period commencing on March 12, 2024, and ending on March 31, 2025, the Sponsor will waive the entire Sponsor Fee for the first $1.5 billion of the Trust’s assets. If the Trust’s assets exceed $1.5 billion prior to March 31, 2025, the Sponsor Fee charged on assets over $1.5 billion will be 0.20%. All investors will incur the same Sponsor Fee, which is the weighted average of those fee rates. After March 31, 2025, the Sponsor Fee will be 0.20%.
Learn more: http://vaneck.com/HODL
Prospectus: http://vaneck.com/hodlprospectus/
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- Both Bitcoin and gold make new all time highs but Bitcoin Spot ETFs got massive positive net flows while oppositely Gold ETFs are bleeding with negative net flows. It signals changes in thinking and practice of people, investors on how they store their asset and do investment.
No. It signals that there is a shortage of gold, so companies that need gold and can't find it on the merket are forced to redeem their ETF shares.
Redempting ETF shares means that shares are exchanged not vs. cash but vs. gold: the shareholders selling their shares don't ask for money but for the gold represented by their shares.
Not everybody can do it, only so-called authorized participants i.e. major ETF shareholders.
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No. It signals that there is a shortage of gold, so companies that need gold and can't find it on the merket are forced to redeem their ETF shares.
Redempting ETF shares means that shares are exchanged not vs. cash but vs. gold: the shareholders selling their shares don't ask for money but for the gold represented by their shares.
Not everybody can do it, only so-called authorized participants i.e. major ETF shareholders.
It can be a signal of shortage of physical gold, that I doubt of, but it can be signal that gold investors try to redeem their Gold ETF shares and convert it to either cash or other assets that look more promising in their view now, like Bitcoin.
About gold, there are signals from central banks that they are purchasing more and more gold.
Why Central Banks Are Betting Big On Gold (https://www.usfunds.com/resource/gold-prices-record-their-strongest-october-surge-in-nearly-half-a-century/).
(https://sp-ao.shortpixel.ai/client/to_auto,q_glossy,ret_img,w_900/https://www.usfunds.com/wp-content/uploads/2023/11/COMM-Central-Banks-Continue-to-Purchase-Gold-11032023.png)
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It is a first day ever, a single day net inflow hits $1B.
There is a nice chart for Bitcoin Spot ETF tracker too, from Jim Bianco (https://twitter.com/biancoresearch/status/1767934215713140817). In cumulative figure, net inflow of all Bitcoin Spot ETFs just passes $11+B.
Most of trading days, we see green candles for net inflows. The second chart is nearly similar to the first chart but it will make people more FOMOing with buying demands from Bitcoin Spot ETFs.
(https://pbs.twimg.com/media/GIj2RVOW8AAY-YR?format=jpg&name=900x900)
(https://pbs.twimg.com/media/GIjbI4GXAAEmtoG?format=jpg&name=900x900) (https://twitter.com/BTC_Archive/status/1767904132336070866)
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It can be a signal of shortage of physical gold, that I doubt of, but it can be signal that gold investors try to redeem their Gold ETF shares and convert it to either cash or other assets that look more promising in their view now, like Bitcoin.
Hi tran
It cannot be a signal that gold investors are selling ETF shares because the price chart shows that gold investors are buying
(https://images.contentstack.io/v3/assets/blt40263f25ec36953f/bltb91f973a0120fb90/65a984d5a0613d8b9152a1f2/gold_etf_chart.png?format=pjpg&auto=webp&quality=50&width=1000&disable=upscale)
There is a shortage in gold - in silver even more. Silver is going nickel (https://internationalbanker.com/brokerage/the-nickel-short-squeeze-what-happened/)*
Declining ETF inventories while gold investors are buying signals shortage: ETFs are treated as a source of metal when you can't find metal on the market.
Another signal of the shortage are premiums.
Premiums are always - by definition - a sign of shortage.
Currently gold spot $1160
In Shanghai $1190
(https://pbs.twimg.com/media/GIs3_HIaYAAM4H9?format=jpg&name=900x900)
$30 premium over spot per ounce
The most important part of this is, unlike New York and London - the two major trading hubs by volume - Shanghai doesn't trade gold derivatives, the SGE (Shanghai Gold Exchange) and the SFE (Shanghai Futures Exchange) trade physical.
Shanghai is physical gold, not paper gold, so to speak.
If in Shanghai gold gets traded at 3-4% premium, there is only one reason. Shortage.
* The LME suspended nickel trading at 08:15 am on 8 March 2022, and, at 12:05 pm, cancelled all nickel trades entered that day before the suspension took effect. The total value of the cancelled trades was US$12 billion.
The LME's justification for the suspension and cancellation was that the nickel market had become "disorderly", and participants' exposure posed a systemic risk to the broader market.
Between 4 and 8 March, participants met nearly US$16 billion in margin calls, with the growing perceived risk of some of these participants defaulting and facing insolvency.
...and after this gold digression, now back to BTC spot ETF Tracking! :D
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Bitcoin Spot ETFs just have a worst day in their money flow so far with a largest outflow day that is a third consecutive red day too.
(https://pbs.twimg.com/media/GJHdI8AWEAAS6yh?format=jpg&name=900x900) (https://twitter.com/biancoresearch/status/1770439753235628527)
(https://pbs.twimg.com/media/GJHdSneXkAArgq4?format=jpg&name=900x900) (https://twitter.com/biancoresearch/status/1770439756028973560)
The author of charts wrote his opinion on this.
The average purchase price (cost) for the $11.57 billion net flows since January 11 is $57.5K for all ten spot BTC ETFs, and $55.1K if GBTC is excluded.
So, another 10% to 13% correction will result in the unrealized profits being at zero.
If BTC does trade to this level, we'll get a big clue about the type of buyer (strong or weak-handed). Yesterday's record outflow from these ETFs indicates, I believe, that they lean more toward the "weak-hands" variety.
From the chart, we can see a big open space under $60,000 and if Bitcoin loses that support, it will potentially drops to about $51,000 to $53,000, the price channel from which it broke out weeks ago.
Will support from Bitcoin Spot ETFs be able to help Bitcoin holds its price above $55,000 to $57,000 in coming weeks?
There is a shortage in gold - in silver even more. Silver is going nickel (https://internationalbanker.com/brokerage/the-nickel-short-squeeze-what-happened/)*
The author of "Rich Dad, Poor Dad" tweeted many times that he considered silver is one of best investment assets since Pandemic Covid-19.
About gold, you can read this report.
Gold Prices Record Their Strongest October Surge In Nearly Half A Century (https://www.usfunds.com/resource/gold-prices-record-their-strongest-october-surge-in-nearly-half-a-century/).
(https://sp-ao.shortpixel.ai/client/to_auto,q_glossy,ret_img,w_900/https://www.usfunds.com/wp-content/uploads/2023/11/COMM-Central-Banks-Continue-to-Purchase-Gold-11032023.png)
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There is a shortage in gold - in silver even more. Silver is going nickel (https://internationalbanker.com/brokerage/the-nickel-short-squeeze-what-happened/)*
The author of "Rich Dad, Poor Dad" tweeted many times that he considered silver is one of best investment assets since Pandemic Covid-19.
Thanks Tran,
I've heard many times that RDPD title mentioned, but I didn't know what it is about.
As far as silver goes, I said it's going nickel... well we could also make a more recent example and say... it's going cocoa! :D
(https://pbs.twimg.com/media/GJSQ7vxXYAAPrf8?format=jpg&name=large)
Back to Bitcoin Spot ETF Tracker!
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Last week, Grayscale has massive outflow and both BlackRock, Fidelity ETFs could not cover it with their inflows. The recent outflow from Grayscale probably comes from Genesis but if their outflow rate continues, they will have nothing left next 90 days.
Sooner or later, selling pressure from Grayscale redemptions will stop and other new Bitcoin Spot ETFs with majority of purchases from BlackRock and Fidelity will bring Bitcoin on a positive direction.
At the current rate of redemptions, GBTC runs out of Bitcoin to sell in 96 DAYS.
Since GBTC started trading as an ETF on 11th January, Grayscale has transferred 266.47K BTC out of their wallets for GBTC redemptions.
That’s a rate of 25.9K BTC per week.
(https://pbs.twimg.com/media/GJMelEOXkAAbOjM?format=jpg&name=900x900) (https://twitter.com/BTC_Archive/status/1770794190030475473)
(https://pbs.twimg.com/media/GJUxvs2WoAIBiJo?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1771376727933206583)
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Will Hong Kong BTC ETFs Spark The Halving rally? (https://www.altcoinstalks.com/index.php?topic=320427.0)
China's Largest Funds Apply For Spot Bitcoin ETF In Hong Kong (https://www.altcoinstalks.com/index.php?topic=320307.0)
Hi tran
are you going to track HK BTC ETFs too?
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Last week, Grayscale has massive outflow and both BlackRock, Fidelity ETFs could not cover it with their inflows. The recent outflow from Grayscale probably comes from Genesis but if their outflow rate continues, they will have nothing left next 90 days.
Sooner or later, selling pressure from Grayscale redemptions will stop and other new Bitcoin Spot ETFs with majority of purchases from BlackRock and Fidelity will bring Bitcoin on a positive direction.
At the current rate of redemptions, GBTC runs out of Bitcoin to sell in 96 DAYS.
Since GBTC started trading as an ETF on 11th January, Grayscale has transferred 266.47K BTC out of their wallets for GBTC redemptions.
That’s a rate of 25.9K BTC per week.
(https://pbs.twimg.com/media/GJMelEOXkAAbOjM?format=jpg&name=900x900) (https://twitter.com/BTC_Archive/status/1770794190030475473)
(https://pbs.twimg.com/media/GJUxvs2WoAIBiJo?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1771376727933206583)
At least we need the right time or maybe approximately how many days they will buy Bitcoin again, because like the data you provided they are selling very hard, when all the Bitcoin they have is gone it will make them buy Bitcoin again and will possibly trigger a bullrun.
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Last week, Grayscale has massive outflow and both BlackRock, Fidelity ETFs could not cover it with their inflows. The recent outflow from Grayscale probably comes from Genesis but if their outflow rate continues, they will have nothing left next 90 days.
Sooner or later, selling pressure from Grayscale redemptions will stop and other new Bitcoin Spot ETFs with majority of purchases from BlackRock and Fidelity will bring Bitcoin on a positive direction.
At the current rate of redemptions, GBTC runs out of Bitcoin to sell in 96 DAYS.
Since GBTC started trading as an ETF on 11th January, Grayscale has transferred 266.47K BTC out of their wallets for GBTC redemptions.
That’s a rate of 25.9K BTC per week.
(https://pbs.twimg.com/media/GJMelEOXkAAbOjM?format=jpg&name=900x900) (https://twitter.com/BTC_Archive/status/1770794190030475473)
(https://pbs.twimg.com/media/GJUxvs2WoAIBiJo?format=jpg&name=900x900) (https://twitter.com/HODL15Capital/status/1771376727933206583)
At least we need the right time or maybe approximately how many days they will buy Bitcoin again, because like the data you provided they are selling very hard, when all the Bitcoin they have is gone it will make them buy Bitcoin again and will possibly trigger a bullrun.
It seems like they are still waiting for the bitcoin halving moment, and obviously they will buy again when the dump occurs. Big investors have also prepared their USD to buy bitcoin again. I don't have large funds so I will just follow the movement of trading volume.
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are you going to track HK BTC ETFs too?
This is initially for Bitcoin Spot ETFs in the USA and before the USA. there are Bitcoin Spot ETFs in Canada too.
I rely on data from other sources and whether they track HK Bitcoin Spot ETFs or not, I am unsure. In addition, most biggest impacts will be from Bitcoin Spot ETFs in the USA.
It seems like they are still waiting for the bitcoin halving moment, and obviously they will buy again when the dump occurs. Big investors have also prepared their USD to buy bitcoin again. I don't have large funds so I will just follow the movement of trading volume.
Halving is always most expected event in Bitcoin market and around a halving, there will be a lot of uncertainty so that the market and price can be affected by fud. The list is for 30 holders of IBIT but these holders account for only about 0.2% of shares.
(https://pbs.twimg.com/media/GLS3PvQW8AAJwSM?format=png&name=900x900) (https://twitter.com/EricBalchunas/status/1780249379091198042)
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I wonder in the light of current events (ETH-ETF adoption) - will we see an update of new peaks? It seems to me that the 80k zone on bitcoin and 5k on ETH is quite acceptable. Also try not to overestimate expectations (in case of not achieving the values) so that it would not be so frustrating. :D
P.S. What's happening in the market right now, I believe is maximum euphoria and it's worth it to lock in gains a bit. With a little bit of risk management. And don't pass the buck while doing so, that's not insignificant. 8)
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I wonder in the light of current events (ETH-ETF adoption) - will we see an update of new peaks? It seems to me that the 80k zone on bitcoin and 5k on ETH is quite acceptable. Also try not to overestimate expectations (in case of not achieving the values) so that it would not be so frustrating. :D
It will take some months for Bitcoin to complete this correction wave and accumulation phase before we see another blast off months later.
I expect a much higher top than $80k for Bitcoin in this bull run but DCA out within one market cycle and bullish months is a good strategy if you don't want to hold your bitcoin for more than 1 market cycle.
P.S. What's happening in the market right now, I believe is maximum euphoria and it's worth it to lock in gains a bit. With a little bit of risk management. And don't pass the buck while doing so, that's not insignificant. 8)
During this uncertain and chaotic period of the market, don't use Leverage/ Futures trading. You will increase your risk to be liquidated by exchanges by using leverages, futures.
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I wonder in the light of current events (ETH-ETF adoption) - will we see an update of new peaks? It seems to me that the 80k zone on bitcoin and 5k on ETH is quite acceptable. Also try not to overestimate expectations (in case of not achieving the values) so that it would not be so frustrating. :D
P.S. What's happening in the market right now, I believe is maximum euphoria and it's worth it to lock in gains a bit. With a little bit of risk management. And don't pass the buck while doing so, that's not insignificant. 8)
If the Ethereum ETF is approved by the SEC, there is a possibility that the Ethereum price will reach a new ATH and of course there will be very good price movements in Ethereum.
So far we can see that Bitcoin has been the first to be accepted into the ETF and has had a very high increase in the price of bitcoin.
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Bitcoin ETFs Suffer Worst Day Ever
(https://cms.zerohedge.com/s3/files/inline-images/bfm8287.jpg?itok=pOX_KzPS)
This means the total net inflow since inception has fallen to USD11.2bn.
(https://cms.zerohedge.com/s3/files/inline-images/0%20%287%29_1.jpg?itok=UYu9Ys6a)
zerohedge.com (https://www.zerohedge.com/crypto/bitcoin-etfs-suffer-worst-day-ever)