Bitcoin Spot ETF Tracker

[thecodebear]

 Another day yesterday...another half billion dollars into bitcoin ETFs. Half billion dollars a day is just a normal occurrence now.

Grayscale continues to be larger sales than last month. Grayscale selling has been high for the past 8 business days. I figured it was Celsius selling, but if much of it was Celsius they should be pretty much done now. Haven't heard any new from Celsius so maybe it's been them, maybe not. Could just be that Grayscale holders decided to start selling / switching over to other ETFs en masse again after a few weeks of slower selling. Regardless of Grayscale selling though, net buying on the. ETFs keeps pumping out half billion dollar days regularly.

[franky1]

appears grayscale want to dismantle/deplete GBTC and open a new smaller etf offering as a new etf entity

https://www.grayscale.com/blog/general-updates/what-is-grayscale-bitcoin-mini-trust

[tranthidung]

appears grayscale want to dismantle/deplete GBTC and open a new smaller etf offering as a new etf entity

https://www.grayscale.com/blog/general-updates/what-is-grayscale-bitcoin-mini-trust

They saw their unstoppable bleeding and they saw a spike on inflow of Vanguard Spot ETF after it decided to waive service fee.

Grayscale seems to see no other way to stop bleeding on their current Spot ETF and they have to give customers another choice, less expensive in fee.
Another view on impacts of Bitcoin Spot ETFs on Bitcoin Network Flows. The sharp increase of Bitcoin Network Flow is $2B by Bitcoin Spot ETF impacts.

It is taken from Bitcoin on-chain data so it includes not only Bitcoin Spot ETFs but surely we see the impacts here.

[thecodebear]

appears grayscale want to dismantle/deplete GBTC and open a new smaller etf offering as a new etf entity

https://www.grayscale.com/blog/general-updates/what-is-grayscale-bitcoin-mini-trust

what the...that's weird. They want to move to an entirely different ETF?? Why don't they just lower the fee on their existing ETF?

[tranthidung]

what the...that's weird. They want to move to an entirely different ETF?? Why don't they just lower the fee on their existing ETF?

My guess is they have current terms with their customers who already signed contracts with them.

They apply the new Grayscale Mini Bitcoin Trust ETF for new customers or current customers who are ready to close current positions and switch to Mini one. Who will want to do this if they have to be charged tax?

In the quote, they have idea and plans (still in discussion) for current investors too but nothing is finalized yet.

You can read the Form S-1 filing here. Most notably, this new ETF would be designed to have a materially lower fee than GBTC and through the innovative mechanics of a GBTC “spin-off” — which means a certain amount of the Bitcoin backing GBTC shares (as of a to-be-determined record date in the future) would be utilized to ‘seed’ the new Grayscale Bitcoin Mini Trust, subject to appropriate regulatory approvals. If approved:

• We believe this would be net-positive for existing GBTC investors, who would benefit from a lower blended fee with the same exposure to Bitcoin, spanning ownership of shares of both GBTC and BTC.
• This would be an exciting innovation for the ETF wrapper, because while ‘spin-offs’ are commonplace, the market has never experienced a spin-off of a commodity-based ETF.

Importantly, both the launch of Grayscale Bitcoin Mini Trust and the GBTC spinoff are subject to regulatory review. The Grayscale team will share additional information as soon as possible. No action is required of current or future GBTC shareholders.

[franky1]

appears grayscale want to dismantle/deplete GBTC and open a new smaller etf offering as a new etf entity

https://www.grayscale.com/blog/general-updates/what-is-grayscale-bitcoin-mini-trust

They saw their unstoppable bleeding and they saw a spike on inflow of Vanguard Spot ETF after it decided to waive service fee.

Grayscale seems to see no other way to stop bleeding on their current Spot ETF and they have to give customers another choice, less expensive in fee.

stem bleeding? no.. they need to rid themselves of value of GBTC because they have other contracts binding them in litigation of having to pay people in GBTC if they lose litigation (all the genesis, gemini, drama)

so the less GBTC that mother company DCG have control of the less they have to declare as available assets to pay whats due(should they lose)

its like any loan.. if the terms say you need to pay back someone in loaves of bread. by ensuring you dont have any bread to give, you then can declare a loan unpayable, thus negotiate better repayment terms of another form.
where as having stock of lots of bread makes you forced to payout your stock at pre-agreed rate

its how countries get discount on international debt. by converting old currency to new currency and hyper inflating the old currency into worthlessness, forcing negotiations of settlements in more favourable terms of the new currency
companies do it all the time when converting shares(dilutions) to new share types, it reduces certain owners %owed and owned
when chairman and board members dislike a co-founders share holding position and control, they simply dilute that co-founders position down via converting old shares to new shares
EG
https://youtu.be/-Osi_8_VAow?t=92

[kingmanbs]

This bitcoin constant rate was 15k in 2018. This btc has been going like this for quite some time, adding about 3000 btc.  After some time the btc market increased by 20k in just one month.





   By the end of the day the value of btc is increasing by around 150 million.  Those who hold btc for a long time are getting better marketing)




   BTC price was 15k from 2018 then it became 200k in 2020 and after a long time the price of this btc increased to 250k in 2001 in the market of ABTS.  Adding 150 million abtc is under a lot of pressure now because of the huge amount of sales due to everyone coming back to the magazine btc price is selling between 250k and 50.000

[thecodebear]

This bitcoin constant rate was 15k in 2018. This btc has been going like this for quite some time, adding about 3000 btc.  After some time the btc market increased by 20k in just one month.





   By the end of the day the value of btc is increasing by around 150 million.  Those who hold btc for a long time are getting better marketing)




   BTC price was 15k from 2018 then it became 200k in 2020 and after a long time the price of this btc increased to 250k in 2001 in the market of ABTS.  Adding 150 million abtc is under a lot of pressure now because of the huge amount of sales due to everyone coming back to the magazine btc price is selling between 250k and 50.000

A robot has entered the chat 

[Benedictare]

Today , Bitcoin price has hit $73k after net inflow into spot Bitcoin ETF reaching  $1.05 billion due to second-biggest trading volume  to date.
 
Spot Bitcoin ETFs recorded  $1.05 billion net inflow in a single day, the highest to date.

Bitcoin price hits new all time high above $75k.




https://coingape.com/category/news/bitcoin-news/

[thecodebear]

Wow billion dollar day.

Mostly from blackrock. Somehow a half billion dollars a day wasn't enough for the ETF market haha. Had to go and hit a billion dollar day.

Grayscale selling plumetted back down to 1k also, which obviously helped out.

[tranthidung]

Wow billion dollar day.

Mostly from blackrock. Somehow a half billion dollars a day wasn't enough for the ETF market haha. Had to go and hit a billion dollar day.

Grayscale selling plumetted back down to 1k also, which obviously helped out.

It is a first day ever!

There is a nice chart for Bitcoin Spot ETF tracker too, from Jim Bianco. 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.

[Benedictare]

   Bitcoin ETF inflow decline by 80% to $133million amidst market volatility and price retreat, and investors caution rises as U.S spot Bitcoin TED witness lowest inflow in eight days,despite volatility, cumulativenet inflow Bitcoin ETFs nears $12 billion after 44 days.






   https://coingape.com/category/news/

[Benedictare]

   Over $3 billion in Bitcoin and Ethereum options expiry set stage for crypto market crash
Macro fueled the weakness in markets after recent inflation, retail sales, and unemployment data
Liquidations amid liquidity flush and whales selloff
Support from spot Bitcoin ETFs dropped with just $133 million inflow on Thursday







https://coingape.com/

[thecodebear]

a nice flush out of the market as it was probably getting a bit too excited short term. Last two days of the week were "only" ETF inflows of around like $150 million average. Pretty crazy that $150 million inflow is considered a tiny day haha. Looks like ETF market was probably waiting to see if this correction is going to go lower or not. So far maintaining $67k-$69k range. If it is still holding this range by monday I would guess we'll see big ETF numbers next week (as usual) and price heads back over $70k.

[Bureau]

a nice flush out of the market as it was probably getting a bit too excited short term. Last two days of the week were "only" ETF inflows of around like $150 million average. Pretty crazy that $150 million inflow is considered a tiny day haha. Looks like ETF market was probably waiting to see if this correction is going to go lower or not. So far maintaining $67k-$69k range. If it is still holding this range by monday I would guess we'll see big ETF numbers next week (as usual) and price heads back over $70k.

It has gone below $67k on Sunday, which if you are correct then we might see a further dip on Monday. A correction was supposed to happen regardless of the demand generated by the ETFs. It was too quick that the price went past $73k and profit booking was on the card. I do agree we can see another big jump in some time on its price if the demand remains as it has been in past weeks.

[thecodebear]

a nice flush out of the market as it was probably getting a bit too excited short term. Last two days of the week were "only" ETF inflows of around like $150 million average. Pretty crazy that $150 million inflow is considered a tiny day haha. Looks like ETF market was probably waiting to see if this correction is going to go lower or not. So far maintaining $67k-$69k range. If it is still holding this range by monday I would guess we'll see big ETF numbers next week (as usual) and price heads back over $70k.

It has gone below $67k on Sunday, which if you are correct then we might see a further dip on Monday. A correction was supposed to happen regardless of the demand generated by the ETFs. It was too quick that the price went past $73k and profit booking was on the card. I do agree we can see another big jump in some time on its price if the demand remains as it has been in past weeks.

Yeah it went down to $64,000s yesterday. I figured the lowest price would be hit on the weekend, since the weekend doesn't have that extra boost of hundreds of millions of dollars coming in from ETFs. Of course it could always dip lower, but its now back up like $3500 since last night, back over $68k. Unless sellers are planning another big round of dumping, I think we'll see it head back over $70k this week. Though I certainly wouldn't mind a chance to do a little DCA under $65k.

Anyway this dip is very healthy for the market. Going almost straight from $51k to $73k wasn't healthy. Getting even just a few days under $70k helps prime the pump for a move over $75k in the near future.

[franky1]

Anyway this dip is very healthy for the market. Going almost straight from $51k to $73k wasn't healthy. Getting even just a few days under $70k helps prime the pump for a move over $75k in the near future.

i feel the market moved down a step to allow stagnant trading wiggles of $65k-$70k until 2025, to try to stay 'in pattern' (to be in the below previous ATH range until 2025) as traders fear the unknown so all want to keep the pattern of previous cycles (roughly) to stabilise the markets and
allow there bots predictability* to still function

*algo that follows a coded-in pattern

[thecodebear]

Anyway this dip is very healthy for the market. Going almost straight from $51k to $73k wasn't healthy. Getting even just a few days under $70k helps prime the pump for a move over $75k in the near future.

i feel the market moved down a step to allow stagnant trading wiggles of $65k-$70k until 2025, to try to stay 'in pattern' (to be in the below previous ATH range until 2025) as traders fear the unknown so all want to keep the pattern of previous cycles (roughly) to stabilise the markets and
allow there bots predictability* to still function

*algo that follows a coded-in pattern

are you joking? lol

You think there was a normal ~10% correction because the entire market has decided to go flat for 10 months just as a new bull run is starting??

I read your comment, then I expected it to be some new account with like 1 post. Then saw it was franky....I mean I do find *some* of your posts on here straight up silly, but like you've gotta be joking on this one haha. That's gotta be straight up sarcasm right???

[franky1]

its not the entire market.. you need to learn a few things.. such as "whale walls" aka unnatural temporary resistance/support.. which cause a large lump of temporary (ghost) walls to stop prices going up too high(resistance) or down too low(support) and thus changing the sentiment of the market and other traders

its also worth noting some other notions that interplay and are related

understand several notions:
you do know that people trade with bots right - true fact
you do know that when the pattern breaks the bots dont know what to do next right

another notion:
you do know that if you watched the last 4 years you can see the symbiosis between what happens on the futures contracts cause whales to then tinker with the spot market to ensure their futures contracts complete at X(you see periods of market stagnation with unnatural flat periods 2022 was prime example of that)

another notion:
did you know that if you calculate the mining costs of different regions of the planet.. that 2021-22 had floor and ceiling of $15k-$75k which the market TESTED

another notion:
did you know this year the floor - ceiling of mining costs is actually $25k-$140k
yet the market is not testing new bottoms or tops but being controlled in the middle with actual resistance/support WALL which correlate to a mass of future contracts that want to complete at X

when you see that the market doesnt want to rush to $80k even if there are people that have mining costs (if they mined) at $130k plus, so would happily be buyers $75k-$130k, yet you notice the main whale resistance WALL pile up, which goes against the natural flows

another notion:
when markets move naturally then sudden drop, usually thats a whale wall causing the drop to get the price to stay below a level.
when they relax their resistance walls you see prices naturally climb

..
now put all these notions together with an emphasis on whales day-trading with bots.. and realise they dont like the unknown. they like to be in control to snipe daily-weekly-monthly profits.. they are not in the buy to hoard game when day trading. so they want to keep their bots actively sniping small percentages regularly on spot and getting their larger profits from futures.

..
heres some other observations to notice:
did you know you can identify when a bunch of whales stepped in to control the market with walls..
.. when these resistance walls appear massively and move away to either create floors or roofs.. if other minnows,shrimp still bite on a whale. the whale arbritrages their filled order via the other trading pairs of ETH
BTC->USD  ->  USD->ETH  ->  ETH->BTC (when their sell wall (resistance) gets bit)
USD->BTC  ->  BTC->ETH  ->  ETH->USD (when their buy wall (support) gets bit)

look where the natural flows of BTC-ETH change(straighter unnatural(controlled) line)


they do this to do a round-trip(arbitrage via eth) to get back to holding coin if a shrimp filled their coin order of a resistance sell wall, so they can get back to having coin again to keep a sell(resistance) wall visibly there

they do this to do a round-trip(arbitrage via eth) to get back to holding USD if a shrimp filled their USD order of a support buy wall, so they can get back to having USD again to keep a buy(support) wall visibly there

[Benedictare]

   
Grayscale Bitcoin Trust (GBTC) Bitcoin ETF fees will reduce gradually over time, says CEO Michael SonnensheinGrayscale earlier defended its higher than market charges for Bitcoin ETF.GBTC outflows has reached over $12 billion.






https://coingape.com/