Category: Bitcoin

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Where to buy a Bitcoin ETF

The first Bitcoin exchange-traded fund (ETF), offered by ProShares, launched on Tuesday this week. It is traded under the symbol BITO and will allow equity investors to gain exposure to the digital currency without having to purchase it on a crypto exchange.

How and where to buy Bitcoin ETFs
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What is the Bitcoin ETF?

Before buying Bitcoin ETF (BITO), one must first distinguish between Bitcoin and Bitcoin futures. In essence, a futures contract for any asset is simply an agreement to buy or sell the asset on a future date and at a predetermined price.

Now, buying Bitcoin ETF means you are buying a stock whose value fluctuates based on the price of Bitcoin futures contracts traded on the Chicago Mercantile Exchange.

Should I buy Bitcoin ETF today?

Many professional fund managers agree that it is a reasonable strategy not to invest more than 5% to 10% of your total portfolio in crypto assets. Buying the new BITO Bitcoin ETF is ideal for many investors who want to be exposed to Bitcoin but do not want to go through the process of opening a crypto account.

Bitcoin ETF Price Predictions

According to experts at Fundstrat Global Advisors, the price of Bitcoin could exceed $ 166,000 by the end of 2021. However, the price of Bitcoin does not necessarily correlate with the price of ETFs, which is confusing.

This is because futures contracts are not directly backed by physical Bitcoin, but rather by a derivative of Bitcoin. For example, Bitcoin can gain 40%, but Bitcoin ETF can only increase by 30%. This is because future ETFs have contracts that expire periodically and must be redeemed.

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BITO Bitcoin ETF becomes the fastest ETF to reach $1 billion in assets under management

The Bitcoin-linked ProShares ETF reached $1 billion in assets under management in just two days.

Bitcoin-linked ProShares ETF reached $1 billion in assets under management in just two days, a record for the ETF industry.

The Gold GLD ETF held the previous record, having surpassed the $1 billion mark in three days after its launch in 2004.

A second future bitcoin ETF is due out next week.

The ProShares Bitcoin Strategy ETF ($BITO), the first exchange-traded bitcoin-linked fund in the United States, became the fastest ETF to reach the $1 billion asset under management (AUM) mark.

The previous record holder, the GLD Gold ETF, took three days to break ten figures and $BITO did so in just two. Since it was launched yesterday, the fund has turned over $2 billion in volume.

BITO was launched yesterday as an alternative investment vehicle for retail and institutional investors interested in indirect exposure to bitcoin. The fund invests in bitcoin futures rather than real BTC, therefore the appreciation of the fund’s share price may not match the price of bitcoin in the cash market.

An ETF investing in bitcoin futures rather than owning BTC was a trend spurred by Securities and Exchange Commission (SEC) chairman Gary Gensler. In September, Gensler said that offers seeking exposure to bitcoin through CME-regulated futures would be more likely to pass, citing concerns about “investor protection.”

A little over a month later, the first BTC-linked ETF began trading in the United States. 25

It is doubtful that a bitcoin futures ETF offers a higher level of investor protection than a spot BTC. Either way, investors can opt for the highest level of protection by buying and holding real bitcoins themselves. While it’s a subtle activity, learning how to become financially sovereign with Bitcoin is an opportunity that is sure to pay off in the long run.

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European crypto Firms hit revenue records

According to the analysis platform Dealroom, cryptocurrency investments in Europe in the fourth quarter of 2021 reached a record 793 million euros (approximately $ 925 million).

The fourth quarter exceeds the first quarter of 2021

Dealroom revealed that investments in cryptocurrency and DeFi businesses in Europe broke previous quarterly records just three weeks after the fourth quarter. The first quarter of 2021 was the previous record holder, with European crypto firms making investments of € 715 million (about $ 834 million) using 25 transactions.

However, large fundraisers shut down by crypto and blockchain companies like MoonPay, Celsius Network, Elliptic, and more in Q4 contributed significantly to the latest record numbers with just six transactions. Analysts believe that if the current pace of fundraising continues through the end of the year, fourth-quarter investments could further expand the record margin.

MoonPay Investments

One of the key investments to contribute to the record fourth quarter figures is the funding raised for crypto payment startup MoonPay. The company offers credit card users an easy way to buy crypto or other digital assets in markets like OpenSea, Bitcoin.com, Abra, ZenGo, Spot, and Trust Wallet, all using their credit cards. With more than 5 million users and more than 80 digital assets compatible with the MoonPay platform, the company completed its first roundtable in early October 2021. The roundtable, co-chaired by Tiger Global Management and Coatue Management, raised a total of $ 400 million, with a valuation of $ 3.4 billion.

Investments in the Celsius network

The Celsius Network fundraiser also raised $ 400 million in investments just a week ago. The network provides a global platform for borrowing and borrowing crypto and recently hosted its fundraising event, co-chaired by private equity firm WestCap and a global investment group, Caisse de dépôt and placement of Quebec (CDPQ). The cycle’s success catapulted the company’s net valuation to a staggering $ 3.25 billion.

Other Fourth Quarter Taxpayers

Additionally, London-based analytics firm Elliptic Blockchain raised $ 60 million in its latest Series C funding round, co-led by VC Evolution Equity Partners and SoftBank Vision Fund 2. Existing investors AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group also supported the cycle.

Finally, Paris-based FinTech companies SheeldMarket and Paladin attracted investments totaling $ 12.6 million in October 2021 and contributed to registering crypto investments in the fourth quarter of 2021.

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The Central Bank of Brazil says that Crypto’s investments can duplicate at the end of the year.

Brazil’s Central Bank affirms that Crypto’s investments can reach $ 8 billion at the end of the year.
Source: Pixabay.

The exponential increase in the cryptocourcium market for the general public was both a catalyst and the result of the increase in retail and institutional investments around the world. An overview of it can be seen in a report published by the Central Bank of Brazil. I noticed that citizens of the countries have brought more than $ 427 billion in cryptophysics for the country this year.

The Bank’s trade balance report also noted that between January and 2021, Brazilians bought an average of $ 350 million per month. The purchase value was not uniform in the months. The VIÉE PIC purchases were recorded in May when encryption investments reached US $ 756 million.

However, the figures have since decreased by almost $ 500 million in August 2021. But they continue to be significantly high compared to the figures in February and March of this year, which totaled 386 million dollars and US $ 357 million. , respectively,

Crypto influences to grow for $ 8 billion.

The report also showed that this is true, because only $ 15 million in liquid products of cryptocidal, less than 0.5% of the total flows that were worth more than $ 4 billion. Serra anticipated that this number can reach more than $ 8 billion by the end of the year, since faith in the Bitcoin and Cryptocurrence markets begins to tighten.

Brazil has always remained a greater investor in Cryptorrecores, with some 10 million citizens delivered in the asset class. While the country runs South America in terms of adoption, it is also important in terms of encryption owners. The country was also the first to have a banking institution based on States, which provides ETF encryption to its customers.

So it is rooted, the love of the country by Bitcoin, soon can follow the leaders of El Salvador in the proclamation of digital assets to be a legal competition. The Federal Member of Brazil Aureo Ribeiro recently revealed that the nation was preparing to vote for a cryptocidal regulatory account, whose step could officiate Bitcoin as a legal currency.

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Ethereum looks like it’s about to explode when 400,000 ETH leaves Coinbase

The string data shows that the Coinbase crypto switch took a 400,000 Ethereum pullback yesterday. This could be a sign of institutional investor activity and could result in a bullish currency.

Coinbase sees 400,000 ETH outputs

As reported in a CryptoQuant article, around 400,000 ETH (1.5 billion at the current exchange rate) were taken out of the Coinbase crypto swap yesterday.

The indicator used here is the Ethereum Outflow, which shows the total number of coins that come out of the stock exchange wallets.

When the metric shows a large increase, it means that a large amount of ETH has been removed from the exchange. Investors often withdraw many currencies to store or sell them through over-the-counter contracts.

Therefore, steady exits could mean that there is buying pressure in the market and investors are bullish on Ethereum.

Here is what the indicator chart looks like for the Coinbase encryption switch:

ETH exit showed big bullishness yesterday | Source: CryptoQuant

As the chart above shows, the Coinbase cryptocurrency exchange peaked at 400,000 Ethereum in outflows yesterday.

These large outflows could be a sign of activity on the part of institutional investors, as normal holders certainly won’t have as many currencies to move.

Related reading | Crypto Only: Crescent Lists Potential High Drivers for Bitcoin and Ethereum in Q4 2021

Institutional investors optimistic about ETH could mean big things for cryptocurrencies. If ETH is to take the next step, it will need a lot of money, which often means that whales, as well as institutional investors, need to get involved.

As these exits already indicate that institutional investors are pulling their currencies off the stock exchanges to possibly bail them out, the outlook for ETH looks optimistic.

Ethereum Price

As of this writing, the price of ETH is around $59.9K, a 9% increase over the past seven days. Over the past thirty days, encryption has accumulated 25% profit.

The following chart shows the currency price trend over the last five days:

ETH price rises to approach $4,000 bar | Source: ETHUSD on TradingView

ETH has given a big boost in recent days as the currency now approaches a test of the $4,000 mark. At the moment, it is unclear whether ETH can maintain that momentum and soon reach a new all-time high (ATH), or if it will fail again.

Related reading | TA: Ethereum follows Bitcoin, why ETH could go up to $4K

If exits are something to cross, the general sentiment appears to be bullish and institutional investors who get involved can help with the huge price that drives cryptocurrencies to break major resistance lines.