Bitcoin News

🥇 Grayscale's GBTC spot bitcoin ETF sees $63 million of inflows, ending 78-day outflow streak Grayscale’s GBTC spot bitcoin exchange-traded fund witnessed its first-ever (since it was converted) daily net inflows on Friday, ending a 78-day run of consecutive outflows. GBTC’s cumulative outflows since the U.S. spot bitcoin ETFs began trading on Jan. 11 totaled more than $17.5 billion by May 2, but the higher-fee fund suddenly generated $63 million worth of inflows on Friday, according to data from Farside Investors and CoinGlass. Source https://t.me/Bitcoin_NewsTg

💰 Bitcoin Miner Riot Platforms Records Modest Revenue Gain Despite 36% Decrease in Mined BTC Riot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in the number of bitcoins mined, down to 1,364. Source https://t.me/Bitcoin_NewsTg

Tectum team showcases instant #Bitcoin payments using SoftNote. Mass Adoption is already here! Time to buy $TET Tg Group is here!

🇰🇪 Kenya's president discusses the "transformative" economic potential of collaborating with Marathon to bring 💰 Bitcoin mining to the nation https://t.me/Bitcoin_NewsTg

💰 Record Withdrawal From US Bitcoin ETFs Marks Largest Single-Day Outflow Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, totaling over $191 million. Grayscale’s Bitcoin Trust (GBTC) followed closely with withdrawals exceeding $167 million, while Blackrock’s IBIT reported its first negative outflow, nearing close to $37 million. Source https://t.me/Bitcoin_NewsTg

🥇 VanEck says about $175 billion in bitcoin held by ETFs, nations and companies VanEck said in a new report that a total of roughly $175 billion in bitcoin is currently being held across the various ETFs, nations and public and private companies that have acquired the popular cryptocurrency. "Bitcoin interest among institutional investors has also increased. Hedge funds, asset management firms, and endowments are increasingly recognizing bitcoin’s potential as a store of value," VanEck said in the report. Source https://t.me/Bitcoin_NewsTg

🟠 Changpeng Zhao says crypto has entered new phase where ‘compliance is super important’ Former Binance CEO Changpeng Zhao said the crypto industry has entered the next phase where “compliance is super important.” Last year, Zhao admitted guilt to federal money laundering charges. Prosecutors spotlighted a corporate culture at Binance that neglected fraud prevention in pursuit of expansion, resulting in his departure from the company and a hefty $150 million fine. This sentencing arrives at a critical juncture for the emerging industry, which is witnessing intensified regulatory scrutiny worldwide. Source https://t.me/Bitcoin_NewsTg

💰 Bitcoin market absorbs 1 million BTC in 5 months Bitcoin currently trades approximately 20% below its all-time high, the more compelling narrative unfolds within the dynamic flow of coins between short-term holders (STHs) and long-term holders (LTHs). LTHs, holding Bitcoin for over 155 days, typically accumulate during bear markets and distribute during bulls. Their supply peaked at 14.9 million BTC in December 2023 before dropping to 13.9 million in April 2024. Source https://t.me/Bitcoin_NewsTg

🇺🇸 US spot 💰 bitcoin ETF outflows continue with $51.5 million more exiting Spot bitcoin exchange-traded funds in the United States saw more than $51.5 million in net outflows yesterday. Notably, the Grayscale Bitcoin Trust was not the biggest culprit. The ARK 21Shares Bitcoin ETF saw $31.34 million leave the product on April 29, while GBTC experienced $24.66 million in net outflows, per data from SoSoValue. The Fidelity Wise Origin Bitcoin Fund also saw a net outflow of $6.85 million. Source https://t.me/Bitcoin_NewsTg

💰 GBTC Reserves Dip Below 300,000 BTC Amidst 3 Weeks of Crypto Fund Outflows Grayscale’s Bitcoin Trust (GBTC) has witnessed a significant reduction in assets under management, with the trust’s holdings now falling below the 300,000 BTC mark, a key milestone. Additionally, the latest report on digital asset fund flows from Coinshares shows that bitcoin and ether exchange-traded products (ETPs) have seen withdrawals for three consecutive weeks. Source https://t.me/Bitcoin_NewsTg