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Several crypto leaders assert that the lawmaker's statement were part of attempts to vilify the industry.
Higher-cost crypto fund issuers in the U.S. have seen $2.9 billion worth of outflows — compared to $4 billion of total inflows to the new spot bitcoin ETFs since launch — according to CoinShares.Last week, digital asset investment products witnessed minor outflows of $21 million overall — driven by incumbents like the ProShares bitcoin futures ETF and Grayscale’s converted GBTC fund.
Observers says only 10% of GBTC outflows are being redirected to the new ETFs.
Grayscale tightens its NAV to -0.27% while BlackRock trades at a discounted -0.3% for the first time.
BlackRock’s iShares Bitcoin Trust (IBIT) is topping the Newborn Nine with 33,706 BTC.
- 15:16BTC falls below $62,000The Bitget ticker shows that BTC fell below $62,000 in a short period of time and is now at $62,019, down 2.84% in 24 hours.
- 14:34Bitcoin OTC Balance Rises to 410,000, Highest Since May 2022On October 1, the total number of bitcoins on the over-the-counter (OTC) market surpassed 410,000, the highest level since May 2022 and more than double the 185,000 in March, according to CryptoQuant data. Balances can indicate the amount of liquidity available to buy or sell at an OTC counter, with high balances indicating high liquidity and the ability of the counter to fulfill large orders. Low balances, on the other hand, may indicate greater difficulty in trading. OTC clients are primarily high net worth individuals or institutions outside of retail trading platforms. OTC trading allows for high volumes of buying and selling without affecting the price of bitcoin on CEX. Data shows that OTC balances have risen sharply over the past six months, while Bitcoin has been trending downward from its all-time high of $73,500 in March. The rise in balances is quite similar to what happened between late 2020 and early 2021, when OTC balances soared from 235,000 tokens to 435,000 tokens in six months. The difference is that the price of bitcoin was rising then, but is now slightly lower.
- 14:17U.S. September ISM Manufacturing PMI drops the most since May 2023U.S. September ISM Manufacturing PMI 47.2 vs. 47.5 expected, 47.2 prior. biggest drop since May 2023
