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Newly Launched Bitcoin ETFs Hold Over 95,000 BTC
Within just the first six days of spot bitcoin ETF trading, the total assets of these funds have soared to roughly 95,000 BTC ($4 billion).
Fidelity (FBTC) and BlackRock (IBIT) are at the forefront, collectively holding 64,000 bitcoins.
Notably, the converted Grayscale fund (GBTC), with its 552,000 BTC, is seeing daily withdrawals of investments amounting to approximately $600 million.
In contrast, newcomers Wisdom Tree (BTCW) and Franklin (EZBC) are trailing behind, collectively managing less than 1,500 BTC. #Gate Post Highlights# #Content Mining#
Week Ahead: This week’s altcoin narrative and Bitcoin's fourth halving targets
With Bitcoin spot ETF approved, investors are eyeing two major events – BTC’s fourth halving and Ethereum’s spot ETF approval. While the latter will take time, considering the US Securities and Exchange Commission’s (SEC) on-the-fence stance regarding the classification of ETH. So, in this newsletter, let’s take a look at Bitcoin halving and how it affects price.
Read more: Grayscale’s Bitcoin sale unlikely to have driven BTC price lower, profit taking is likely driver
What to expect next week?
The macroeconomic market is going to be silent, but with the launch of new crypto tokens, the volatility is extremely high, and altcoins seem to be highly wound.
So the focus for day traders should be on
Newly launched coins – ONDO, MANTA, MYRO, SARSO
AI coins – RNDR, FET, GPT, and ROSE due to NVIDIA's approaching all-time high and Apple’s Vision Pro launch.
Chinese coins and related meme coins due to the Spring Festival – NEO, ACH and FIL.
While the short-term narrative-based plays are interesting, investors need to focus on the most anticipated event of the year – Bitcoin halving.