China News by Thebittimes.Com

BlackRock’s iShares Bitcoin Trust (IBIT) saw a record $872 million in net inflows on Oct. 30 as cumulative BTC held by US Bitcoin ETF (exchange-traded fund) products closed on the 1.1 million held by Bitcoin creator Satoshi Nakamoto. Overall, U.S. Bitcoin ETFs registered nearly $900 million in inflows on Wednesday alone, as Bloomberg ETF analyst Eric Balchunas said they are gobbling up BTC ‘’like Pac-Man on a bender.’’ Ok we gonna need to move up our predictions as yest alone the btc ETFs gobbled up over 12k coins like Pac-Man on a bender, now hold 996k btc- good chance to pass 1 million today (as the ridic volume yest likely to translate to big flows tonight). Legit shot to get to Satoshi by… https://t.co/Ua9GzhsBwE pic.twitter.com/84bBprhi6I — Eric Balchunas (@EricBalchunas) October 30, 2024 Bitcoin ETF Inflows Fueled By Factors Including Possible Donald Trump Election Win The surge in inflows marks the largest single-day inflow for B...

Shiba Inu is one of multiple meme coin cryptocurrencies on the market that suffered from a bearish August. Most of the market faced significant price drops but is beginning to rebound. SHIB in particular, had a rough few months before August before a further dropoff. Now though, the asset is slated to ride the current market rebound, breaking a 5-month downtrend. The meme coin is finally noting consistent support from its investors, as noted in the funding rate. This steady backing from investors is crucial for maintaining upward momentum. It could also signal growing confidence among the Shiba Inu community. Additionally, inflows into Shiba Inu have been strong over the past month and a half. Consistent inflows suggest that capital is steadily moving into the asset. In turn, this further supports its recovery and potential for future growth. Another aspect set to help the meme coin break out of its recent downtrend is a rise in its burn rate. The coin’s burn rate skyrocketed 1,2...

Spot Bitcoin ETFs witnessed a net inflow of $247 million for the first time a week. This divergence in fund flows was particularly evident among the other nine ETFs, excluding Grayscale, which collectively saw a net inflow of $467 million. Data from SoSo Value shows that BlackRock’s ETF IBIT recorded a single-day net inflow of $299 million, constituting 64% of the total net inflow s this week.  Bitcoin ETF net inflow | Source: SoSo Value You might also like: Ripple’s co-founder confirms $113m theft, XRP down 5% However, Grayscale’s Bitcoin Trust (GBTC) reported a substantial net outflow of $220 million in a contrasting development. Grayscale transferred 2,682 BTC, valued at approximately $114 million, to the address of Coinbase Prime Deposit. Additionally, the firm moved 5,281 BTC to a new address, speculated to be Grayscale’s updated custody address. The transactions could indicate a significant restructuring in Grayscale’s asset management strate...

Blockchain equities inflows reached a recent high of $15 million as well. However, total trading volume dropped. A third straight week of positive digital asset inflows has fully corrected nine previous weeks of outflows for the market, according to a report from CoinShares published on July 10.  This week’s inflows registered $136 million. Bitcoin (BTC) funds continued their trend of holding the anchor position, with 98% of the inflows coming from BTC. The other 2% mostly came from Ether (ETH), multi-asset holdings, and a handful of altcoins. Source: Screenshot, CoinShares  After nine weeks where digital asset outflows outpaced inflow s, this third consecutive week of positive movement brings the current streak’s total to $470 million. According to Coinshares, this total fully corrects for the previous outflow streak. This brings the last 3 consecutive weeks inflows to US$470m, fully correcting the prior 9 weeks of outflows. Trading turnover has slowed though, which might be expla...