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Bitcoin declines for the fourth day in a row...the worst loss since mid-December
Arab and international
Economy News - follow up
[rtl]Bitcoin has fallen for four consecutive days, recording its worst losing streak since mid-December.[/rtl]
[rtl]This comes after it briefly exceeded the level of $49,000, which is its highest level in about two years, against the backdrop of the US Securities and Exchange Commission’s approval to list trading funds that track Bitcoin in the United States.[/rtl]
[rtl]The exchange-traded funds began trading on January 11.[/rtl]
[rtl]The newly launched Bitcoin exchange-traded funds (ETFs) saw total inflows of $1.4 billion in the first two trading sessions, according to Bloomberg ETFs analyst Eric Balchunas.[/rtl]
[rtl]According to a post by Balchunas on the “X” platform, a total of 500,000 transactions were made on the funds, with a total trading volume of $3.6 billion, according to data from “Bloomberg.”[/rtl]
[rtl]Trading volume takes into account outflows and inflows of funds. Balchunas suggested that the figures could be adjusted due to transactions awaiting accounting settlement.[/rtl]
[rtl]The US Securities and Exchange Commission approved 11 bitcoin exchange-traded funds on January 10, in an approval that many experts considered, in exclusive statements to “Arabia Business,” to be historic.[/rtl]
[rtl]The data reveals that the Grayscale Bitcoin Trust is the only ETF that saw an outflow of $579 million during this period.[/rtl]
[rtl]After deducting the fund's outflows, the total net inflows across the funds amounted to $819 million.[/rtl]
[rtl]Activity on the funds so far is in line with previous forecasts by ETF analyst James Seyfart, who believes bitcoin ETFs could attract around $10 billion in the first year.[/rtl]
Views 40
Added 01/15/2024 - 11:31 AM
https://economy-news.net/content.php?id=39446
Arab and international
Economy News - follow up
[rtl]Bitcoin has fallen for four consecutive days, recording its worst losing streak since mid-December.[/rtl]
[rtl]This comes after it briefly exceeded the level of $49,000, which is its highest level in about two years, against the backdrop of the US Securities and Exchange Commission’s approval to list trading funds that track Bitcoin in the United States.[/rtl]
[rtl]The exchange-traded funds began trading on January 11.[/rtl]
[rtl]The newly launched Bitcoin exchange-traded funds (ETFs) saw total inflows of $1.4 billion in the first two trading sessions, according to Bloomberg ETFs analyst Eric Balchunas.[/rtl]
[rtl]According to a post by Balchunas on the “X” platform, a total of 500,000 transactions were made on the funds, with a total trading volume of $3.6 billion, according to data from “Bloomberg.”[/rtl]
[rtl]Trading volume takes into account outflows and inflows of funds. Balchunas suggested that the figures could be adjusted due to transactions awaiting accounting settlement.[/rtl]
[rtl]The US Securities and Exchange Commission approved 11 bitcoin exchange-traded funds on January 10, in an approval that many experts considered, in exclusive statements to “Arabia Business,” to be historic.[/rtl]
[rtl]The data reveals that the Grayscale Bitcoin Trust is the only ETF that saw an outflow of $579 million during this period.[/rtl]
[rtl]After deducting the fund's outflows, the total net inflows across the funds amounted to $819 million.[/rtl]
[rtl]Activity on the funds so far is in line with previous forecasts by ETF analyst James Seyfart, who believes bitcoin ETFs could attract around $10 billion in the first year.[/rtl]
Views 40
Added 01/15/2024 - 11:31 AM
https://economy-news.net/content.php?id=39446
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