Amy chan

Fidelity Bitcoin ETF rakes in reported $208M, offsetting Grayscale outflows alone Fidelity's spot Bitcoin 📷BTCUSD exchange-traded fund (ETF) has reportedly managed to pull in $208 million in daily inflows on Jan. 29, outstripping outflows from Grayscale Bitcoin Trust for the first time outside their launch day. According to provisional data from Farside Investors, Fidelity's FBTC raked in $208 million in inflows on Monday, compared to the $192 million outflowed from the GBTC — the lowest daily outflows outside of its re-launch, per BitMEX Research data. The latest GBTC outflows mark a nearly 25% drop from $255 million on Jan. 26, and a 70% drop from the fund’s peak daily outflows of $641 million on Jan. 22. It’s also the second-lowest outflow day for Grayscale’s fund, besides the $95 million that left the fund on Jan. 11 — the day it was converted to a spot Bitcoin 📷BTCUSD exchange-traded fund (ETF). Crypto traders are eagerly watching for signs of slowed GBTC outflows caused by the fund’s investors taking the chance to cash out of their once-underwater positions. JPMorgan analysts noted on Jan. 25 that GBTC outflows have caused downward price pressure on Bitcoin but added that “should be largely behind us.” Meanwhile, Jan. 29 figures show the nine new U.S. spot Bitcoin ETFs hit a combined $994.1 million in volume, close to doubling that of GBTC, which saw $570 million in volume, according to data shared to X by Bloomberg ETF analyst James Seyffart. #CryptoNews

Bitcoin’s Fourth Halving May Unleash the ‘Mother of All Reorgs,’ Ordiscan Founder Predicts Ordiscan Founder Says Bitcoin’s Next Halving May Trigger Unprecedented Reorg The upcoming Bitcoin network’s reward halving is not just a routine milestone. With less than 13,000 blocks left until the halving, occurring at block height 840,000, this event might mark a historic turning point for the protocol. Tristan, the founder of Ordiscan emphasizes the unusual nature of this halving in a blog post called “The Next Bitcoin Halving Will be Reorged.” In the blog post, the author claims that Bitcoin block 840,000 is predicted to have the most valuable block reward in Bitcoin’s history, far surpassing previous records. This significance is attributed to the impact of Casey Rodamor’s Ordinals protocol, which has created a substantial Miner Extractable Value (MEV) opportunity. Rodamor’s innovative Ordinals theory involves assigning serial numbers to individual satoshis, making them non-fungible and varying in value. For instance, a satoshi involved in a historically important transaction could be deemed more valuable. This theory has gained traction among bitcoin collectors and enthusiasts, indicating a shift in how BTC’s inherent value is perceived. The halving block is set to include an ‘Epic sat’, a type of satoshi created once every halving, with only three in existence so far. Its rarity and significance could assign it a market value upwards of 1 million dollars, or approximately 25 BTC, Tristan details. The Ordiscan founder explains that this valuation not only reflects its rarity but also the cultural and historical significance imbued within these rare assets. Furthermore, the halving event coincides with the launch of the Runes protocol, another of Rodamor’s creations. This new token standard is expected to further revolutionize the Bitcoin blockchain, starting from block 840,000. The anticipation and speculation around the first Rune token are immense, given its potential market impact and historical significance as a pioneering digital asset in the evolving Bitcoin ecosystem. #CryptoNews

Press Release: Dynamic Funds announces January 2024 cash distributions for Dynamic Active ETFs Dynamic Funds announces January 2024 cash distributions for Dynamic Active ETFs