Cryptocurrency
Coinbase (NASDAQ: COIN): Some Users May Be Experiencing Delayed Sends and Receives for Assets on the Base Network
In a note covering cryptocurrency markets, JPMorgan said that Bitcoin ETF inflows were at their largest since the launch this week.
The investment bank estimates preliminary net sales of U.S. spot Bitcoin ETFs of ~$ $132 million on Thursday, March 14, the group's 44th day of trading.
"Daily gross flows (excl. GBTC) were $389mn, a significant step down from the record $1.1bn daily gross flows seen just a few days ago," said JPMorgan.
"Nonetheless, the group still reported... (continue reading...)
JPMorgan managing director Nikolaos Panigirtzoglou said that, when adjusting for volatility, Bitcoin's allocation in investor portfolios has already outpaced that of gold. Specifically, the flagship cryptocurrency has a 3.7 times greater allocation compared to the bullion.
He highlighted a net inflow of $9 billion into Bitcoin ETFs since their inception, accounting for outflows from Grayscale, and suggests a potential Bitcoin ETF market size could reach $62 billion if... (continue reading...)
SINGAPORE (Reuters) - Bitcoin eased to a one-week low in volatile trade on Friday, as investors took profit from its run to a record high and as another upside surprise on U.S. inflation dimmed prospects of early rate cuts there and dented demand for riskier assets.
Bitcoin fell more than 5% in the Asian session to bottom at $66,629.96, before paring some of its losses to last trade 3.5% lower.
The choppy moves in the world's largest... (continue reading...)
The combination of year-to-date outflows from gold exchange-traded funds (ETFs) and significant inflows into Bitcoin ETFs is raising questions about whether investors are diverting their funds from the bullion to the world’s largest cryptocurrency.
Driven by strong interest in spot Bitcoin ETFs, BTC funds experienced an inflow of $10.6 billion so far this year, compared to a $7.6 billion in outflows for physical gold ETFs.
However, JPMorgan strategists believe this is... (continue reading...)
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