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- đź‘€ Bitcoin ETF results are (almost) in...
đź‘€ Bitcoin ETF results are (almost) in...
PLUS: a playbook for DeFi on Bitcoin
Alex M.
January 12, 2024
GM everyone. This is 2036. We scroll for gems all day so you don’t have to.
Today is Favorite Friday, where we serve up the resources we most enjoyed this week 🍲.
So if you're looking for content to dig into this weekend, this is your list...
Now that the Bitcoin ETF is live, is it better to own:
The Bitcoin ETF
Miners
Microstrategy stock
or Coinbase stock….?
Hal Press of North Rock Digital gives his views here.
Hal has a strong track record in crypto, and it will be interesting to see how this plays out.
There’s one theme we can align with Hal Press on: his thesis for Stacks.
We first mentioned Stacks ($STX) on October 18. Since then, the token is up +260%.
If you got in, congrats.
If you’re wondering whether $STX is still a good buy and what 2024 has in store for the Bitcoin Layer 2 - read this.
***
Most of the action this week was centered around the Bitcoin ETF.
There are rumors the flows are, for now, underwhelming, but we should have more clarity in the next week.
Vanguard has reported they won’t allow their customers to purchase the ETF because it doesn’t align with their philosophies.
If you’re stuck in Vanguard and can’t buy the ETFs, switch to Fidelity.
Want our step-by-step blueprint for making money in crypto?
Want to invest in early-stage crypto opportunities before everyone else?
The story today seems to be that 80% of the new ETF volume is probably coming from people moving out of $GBTC while people speculated on a pump with $BITO.
(New ETFs) - $GBTC = $250mm.
We’re still getting good inflows but nothing to make you want to bet the farm on ATHs (yet).
— Architect🛡️ (@Architect9000)
6:30 PM • Jan 11, 2024
Here's the #Bitcoin ETF Cointucky Derby data via trading volume on day 1 (more volume will continue for a little while).
Total Volume was over $4.6 Billion with $GBTC about half of it. BlackRock & Fidelity went 1 & 2 absent GBTC.
— James Seyffart (@JSeyff)
9:07 PM • Jan 11, 2024
If GBTC was half of volume, and those in GBTC bought the other etfs… did anything actually happen today?
— CVW 4 (@CVW_IV)
9:09 PM • Jan 11, 2024
Hearing about brokerages cracking down on Bitcoin ETFs
Use @Fidelity. The most aligned brokerage. Mining since 2014. Built a bitcoin spot product. Built their own custody platform. Launched an ETF. Bought in at the very top. Totally on board.
— nic 🌠carter (@nic__carter)
6:32 PM • Jan 11, 2024
The DeFi Degen's Playbook for Stacks $STX:
Top protocols on Stacks and upcoming catalysts for growth.
----
✦ Consider these actions:
• @xverseApp: My go to wallet.
• @bns_community: Bitcoin Name Service. Register your .btc or .stx name to join the community.
•… twitter.com/i/web/status/1…
— Ignas | DeFi Research (@DefiIgnas)
11:59 AM • Jan 9, 2024
Bitcoin - 2 ways to think about this:
A way to frame this is that we were all Seed investors (pre-2011 vintage), Series A investors in 2012, Series B in 2015, Series C in 2019, and Series D in 2023, and it is just about to IPO.
Then, like in the mid-1990s, we get to see the… twitter.com/i/web/status/1…
— Raoul Pal (@RaoulGMI)
9:39 PM • Jan 9, 2024
Bitcoin Spot ETFs - FLOW DATA
Possible early flow numbers appear in for 11th Jan 2024.
Looks like $400m of net positive flow for the 7 products with data so far. Fidelity is in the lead with $227m flow
No data on GBTC yet
* The data is preliminary only, subject to change
— BitMEX Research (@BitMEXResearch)
9:04 AM • Jan 12, 2024
What's the #1 question you want us to cover more in 2024? |