{"id":10214,"date":"2024-01-22T09:46:10","date_gmt":"2024-01-22T09:46:10","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=10214"},"modified":"2024-01-22T09:46:28","modified_gmt":"2024-01-22T09:46:28","slug":"grayscale-sales-figures-and-bitcoin-etfs-current-status-review","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/grayscale-sales-figures-and-bitcoin-etfs-current-status-review\/","title":{"rendered":"Grayscale Sales Figures and Bitcoin ETFs: Current Status Review"},"content":{"rendered":"

Grayscale<\/strong>‘s profit-taking sales, which are the result of its purchases of GBTC<\/strong>\u00a0at a discount, continue to have a significant impact on the cryptocurrency markets. Grayscale, which has sold $2.8 billion<\/strong> worth of Bitcoin in the past week, is continuing to put pressure on the cryptocurrency markets.<\/p>\n

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You might like: Terraform Labs Files for Bankruptcy!<\/strong><\/em><\/span><\/a><\/p>\n<\/blockquote>\n

Despite selling thousands of Bitcoin so far, Grayscale is still able to keep the value of Bitcoin at around $40,000 thanks to demand from other companies, despite its sales through Coinbase Prime<\/strong>.<\/p>\n

Despite Grayscale<\/strong>‘s latest sale of $590 million on Friday, BlackRock and Fidelity are clearly standing out among companies issuing ETFs (Exchange-Traded Funds). The two companies are known to own a total of 30,000 Bitcoin<\/strong>.<\/p>\n

According to data from Bloomberg<\/strong> ETF analyst Eric Balchunas, net inflows into ETFs are up $1.1 billion despite Grayscale’s sales. If Grayscale is left in this state, net inflows reach $3.9 billion<\/strong>.<\/p>\n

U.S. markets will open at 5:30 PM today. It will be observed from this minute whether Grayscale will continue to maintain its sales pressure.<\/p>\n

Analysis<\/strong><\/p>\n

The Grayscale sales are likely to have a negative impact on the price of Bitcoin in the short term. However, the net inflows into ETFs<\/strong> suggest that there is still strong demand for Bitcoin from institutional investors.<\/p>\n

It remains to be seen whether Grayscale will continue to sell Bitcoin at this pace. If the company is able to reduce its sales, it could help to stabilize the cryptocurrency<\/strong> markets.<\/p>\n

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Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Grayscale‘s profit-taking sales, which are the result of its purchases of GBTC\u00a0at a discount, continue to have a significant impact on the cryptocurrency markets. Grayscale, which has sold $2.8 billion worth of Bitcoin in the past week, is continuing to put pressure on the cryptocurrency markets. You might like: Terraform Labs Files for Bankruptcy! Despite<\/p>\n","protected":false},"author":1,"featured_media":10215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,535,1764,3810,2411,3094,3289,1096],"class_list":["post-10214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-blackrock","tag-bloomberg","tag-coinbase-prime","tag-eric-balchunas","tag-etfs","tag-fidelity","tag-grayscale"],"yoast_head":"\nGrayscale Sales Figures and Bitcoin ETFs: Current Status Review - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Grayscale, which has sold $2.8 billion worth of Bitcoin in the past week, is continuing to put pressure on the cryptocurrency markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/grayscale-sales-figures-and-bitcoin-etfs-current-status-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grayscale Sales Figures and Bitcoin ETFs: Current Status Review - 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