FYI.
***
– Bitcoin Soars Above $50,000 For The First Time Since Dec 2021, After Surge In ETF Inflows:
Three weeks ago, when the general public was confused by the relentless selling in crypto following the launch of the long-awaited Bitcoin ETFs, we explained that this was the result of aggressive liquidation by the bankrupt FTX which was dumping billions in previously locked up assets at the GBTC bitcoin trust, which it would then use to fund recoveries for FTX unsecured creditors.Sure enough, since then GBTC outflows have slowed to a trickle, even as inflows in the various new spot bitcoin ETFs have picked up, and in fact in the latest update this morning, we just saw another surge of inflows into the bitcoin ETF complex – amounting to over $500 million – led by $250MM inflows into the Fidelity FBTC ETF, which have brought the total net inflow (excluding continued GBTC outflows) to the highest level in February, and second highest on record.
* * *
PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP