CryptoMediaClub
Wednesday, July 30, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Bitcoin Price Jumps as Net Inflow into BTC Spot ETFs Rises + More Crypto News

12.02.2024
A A
0
121
VIEWS
ShareShare

Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news.

In today’s edition:

  • Bitcoin Price Jumps as Net Inflow into BTC Spot ETFs Rises
  • COCA Launches Virtual Cards Following Massive Sign-Up in Early Access Program
  • Fine Wine and Spirits Community Crurated Announces Metaverse Launch

__________

Bitcoin Price Jumps as Net Inflow into BTC Spot ETFs Rises

Making the top of crypto news rounds today, Bitcoin (BTC) ended the week at approximately $48,300, showing a 13.4% increase from the previous week’s closing price of $42,600.

The increased inflow into BTC Spot ETFs was the primary driver behind this price appreciation, according to Matteo Greco, Research Analyst at the publicly listed digital asset and fintech investment business Fineqia International.

The outflow from the Grayscale Bitcoin ETF (GBTC) was expected to lessen after the initial couple of weeks of trading. This expectation materialized. GBTC outflows saw a significant decrease near the end of January and continued to decline through February, Greco said in an email.

The daily outflow from GBTC during the first two weeks following the ETF approval averaged around $500 million. However, total outflows from GBTC in the past week stood at approximately $415 million. This is a daily average of about $83 million – nearly an 85% reduction compared to the initial two weeks of trading.

“The noticeable correlation between the diminishing outflows from GBTC and the upward trend in prices is also evident when examining the total daily flows into BTC Spot ETFs.”

The outflows’ substantial reduction began on January 26, coinciding with the beginning of a consistent influx into BTC Spot ETFs. This resulted in eleven consecutive days of net inflows, which began on January 26.

“Furthermore, there is a strong correlation between the magnitude of the inflows and the reduction in GBTC outflows.”

GBTC recorded a cumulative outflow of $415 million last week, while BTC Spot ETFs saw a total net inflow of about $1.2 billion – the highest weekly inflow since their launch.

Meanwhile, Blackrock (IBIT) maintains its lead among the ETFs with about $4.2 billion in assets under management (AUM), followed by Fidelity ETF (FBTC) with some $3.5 billion.

“Notably, a third ETF surpassed $1 billion in AUM last week, as the BTC ETF offered by Ark & 21Shares (ARKB) now boasts $1.02 billion in AUM.”

Last week also saw the first daily outflow from a BTC ETF other than GBTC. Galaxy & Invesco ETF (BTCO) experienced some $17.5 million in outflows on Friday.

Trading volumes “remain exceptionally high,” Greco said. The week’s cumulative volume is about $5.5 billion, equating to a daily trading volume of approximately $1.1 billion.

Since the beginning, cumulative trading volumes have reached $35.6 billion, with an average daily trading volume of around $1.7 billion.

COCA Launches Virtual Cards Following Massive Sign-Up in Early Access Program

Crypto wallet app COCA has announced the initial rollout of its Virtual Cards following the success of its Early Access Program in Europe.

COCA is a wallet with a non-custodial debit card that leverages Multi-Party Computation (MPC) cryptography. The launch of the non-custodial debit card includes Wirex’s card infrastructure.

Per the press release, the card launch connects traditional banking with cryptocurrency, allowing users to make crypto transactions online at over 40 million merchants across 200+ countries.

“The COCA non-custodial Virtual Card allows users to spend their cryptocurrency just like traditional fiat currency.”

It eliminates the need for complicated exchanges or transfers, making incorporating cryptocurrency into everyday transactions easier.

COCA’s Early Access Program has attracted thousands of participants, it said.

Therefore, following the successful launch in Europe, COCA plans to expand the availability of its Virtual Cards to other regions in the coming months. This includes APAC, the USA, and LATAM. The product is not intended for UK residents.

Fine Wine and Spirits Community Crurated Announces Metaverse Launch

In other crypto news today, Digital fine-wine community Crurated announced its new metaverse for wine collectors “of all ages,” describing it as a new spatial experience. Crurated is the first company to release a real-world asset blockchain-backed metaverse, it said.

It will initially launch with a virtual cellar experience this spring. Owners will be able to showcase their bottles, deepen their knowledge, and virtually walk guests through their fine wine collection, said the press release.

Using a VR headset, owners can visit a portal on the Crurated website and enter their private wine cellar in the metaverse.

By the end of 2024, Apple users will also be able to enjoy the metaverse using Vision Pro.

“The first blockchain-based fine-wine community, each bottle owned by Crurated community members is certified with an NFT.”

The wine’s journey from vineyard to collector is recorded on the blockchain, giving a full account of the bottle’s journey. It also tells the complete story within the asset-backed, redeemable non-fungible token (NFT).

The Crurated Metaverse is constructed on Unreal Engine 5, it said, known for its hyper-realistic 3D virtual production, as seen in Epic Games’ Fortnite.

The team added that the development has already started on the next phase of the metaverse, adding new features, expanding existing features, and finding new ways to embellish the enjoyment of fine wine.

The post Bitcoin Price Jumps as Net Inflow into BTC Spot ETFs Rises + More Crypto News appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

Pi Coin Price Prediction: Binance Listing Rumors Heat Up Again – Could PI Skyrocket Past $10? 
All news

Pi Coin Price Prediction: Binance Listing Rumors Heat Up Again – Could PI Skyrocket Past $10? 

30.07.2025
0

According to supposed insider sources, Binance may be preparing to list Pi Network on August 15, adding bullishness to the...

Read moreDetails
JPMorgan Partners with Coinbase, Letting Millions of Chase Customers Buy Crypto Instantly

JPMorgan Partners with Coinbase, Letting Millions of Chase Customers Buy Crypto Instantly

30.07.2025
Stock Prices of Major Chinese Companies Now Available in Web3 Ecosystem

Stock Prices of Major Chinese Companies Now Available in Web3 Ecosystem

30.07.2025
PAXMINING Makes Litecoin Cloud Mining Easy, Efficient, and Hassle-Free

PAXMINING Makes Litecoin Cloud Mining Easy, Efficient, and Hassle-Free

30.07.2025
Hong Kong Authorities Clarify Licensing Rules for Stablecoin Issuers

Hong Kong Authorities Clarify Licensing Rules for Stablecoin Issuers

30.07.2025
Load More
Next Post
Hype Around ERC-404 Tokens Led to Higher Ethereum Fees

Hype Around ERC-404 Tokens Led to Higher Ethereum Fees

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Solana Price Prediction: Key Technical Formation Signals Major Upside Potential for SOL

Solana Price Prediction: Key Technical Formation Signals Major Upside Potential for SOL

4 days ago
Mental Outlaw Challenges China’s Alleged Encryption Breakthrough, Cites Quantum Challenges

Mental Outlaw Challenges China’s Alleged Encryption Breakthrough, Cites Quantum Challenges

9 months ago
Ethereum Worth Set to Dip to $3,000 – Purchase the Dip?

Ethereum Worth Set to Dip to $3,000 – Purchase the Dip?

7 months ago
Pioneering generative artist propelled by personal tragedy — Matt Kane, NFT Creator 

Pioneering generative artist propelled by personal tragedy — Matt Kane, NFT Creator 

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Stock Prices of Major Chinese Companies Now Available in Web3 Ecosystem

PAXMINING Makes Litecoin Cloud Mining Easy, Efficient, and Hassle-Free

Hong Kong Authorities Clarify Licensing Rules for Stablecoin Issuers

Revolutionizing Crypto Mining: XRP Mining Empowers Global Users with Smartphone-Based Cloud Mining

SEC’s in-kind approval can spark HUGE $710 billion supply squeeze for Bitcoin ETFs

Growing Popularity of Ethereum in Corporate Crypto Treasury Reserves

Trending

Bitcoin whipsaws below $116k amid largest hourly correction in two weeks; risks of further pullback to $114k
Analysis

Bitcoin whipsaws below $116k amid largest hourly correction in two weeks; risks of further pullback to $114k

30.07.2025
0

Bitcoin (BTC) registered a 1.11% hourly drawdown after the Federal Reserve kept its target range at 4.25%–4.50%,...

Pi Coin Price Prediction: Binance Listing Rumors Heat Up Again – Could PI Skyrocket Past $10? 

Pi Coin Price Prediction: Binance Listing Rumors Heat Up Again – Could PI Skyrocket Past $10? 

30.07.2025
JPMorgan Partners with Coinbase, Letting Millions of Chase Customers Buy Crypto Instantly

JPMorgan Partners with Coinbase, Letting Millions of Chase Customers Buy Crypto Instantly

30.07.2025
Stock Prices of Major Chinese Companies Now Available in Web3 Ecosystem

Stock Prices of Major Chinese Companies Now Available in Web3 Ecosystem

30.07.2025
PAXMINING Makes Litecoin Cloud Mining Easy, Efficient, and Hassle-Free

PAXMINING Makes Litecoin Cloud Mining Easy, Efficient, and Hassle-Free

30.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz