Bitcoin briefly rose above $79,300 but failed to break $80,000, retreating to around $77,800. Despite the pullback, US spot Bitcoin ETFs recorded a seventh straight day of net inflows, while spot Ethereum ETFs extended their inflow streak to 10 days.
Bitcoin briefly climbed above $79,300 but failed to hold $80,000. U.S. spot Bitcoin ETFs recorded net inflows for the 7th consecutive day, while Ethereum ETFs extended to 10 days of inflows. Solana ETF had zero inflows, and XRP saw modest $2.4M inflows, highlighting divergent institutional interest.
US spot crypto ETFs posted renewed inflows, with Bitcoin ETFs recording a third straight day of net inflows and Ethereum ETFs extending gains to six consecutive days. Solana and XRP spot ETFs also attracted fresh capital, signaling improved market sentiment.
Bloomberg analysts estimate a 90% probability that Bitcoin spot ETFs will be approved en masse by January 10, 2024. This article lists key filing deadlines for 13 applicants, including BlackRock, Fidelity, and Grayscale, with market implications.
U.S. spot Bitcoin ETFs are heavily reliant on Coinbase for custody, with a conservative estimate showing $74.06 billion, or 80.8% of assets, tied to the platform. The concentration raises operational and regulatory risk concerns across the ETF market.
More than 80% of US spot Bitcoin ETF assets are linked to Coinbase custody, highlighting growing concentration risk. While asset segregation and insurance remain in place, analysts warn that any operational or regulatory disruption at Coinbase could ripple across the broader ETF market.
Coinbase now sits at the center of US spot Bitcoin ETF custody. Under a conservative estimate, about 80.8% of assets, or $74.06 billion, are tied to the platform, highlighting operational and regulatory concentration risks for the broader ETF market.
WisdomTree filed a Form S-1 with the SEC for a spot XRP ETF, with Bank of New York Mellon as administrator. The move follows similar filings by Bitwise and Canary Capital, amid expectations of regulatory shifts after SEC Chair Gensler's resignation.
