New data reveals that asset management titan BlackRock’s spot Bitcoin ( BTC ) exchange-traded fund (ETF) saw a record number of outflows earlier this week. According to data from blockchain tracker SoSoValue, BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw a staggering $332.6 million worth of outflows on January 2nd, its largest day of outflows on record. The data also shows that other spot market BTC ETFs were mostly in the green as Fidelity’s FBTC, Arkham’s ARKB and Bitwise’s BITB all posted inflows of $36.2 million, $16.5 million, and $48.3 million respectively. Another notable ETF that posted outflows was Grayscale’s GBTC, coming in at $23 million. IBIT and GBTC’s combined outflows made the first trading day of the year red for ETFs associated with the top crypto asset by market cap, bringing down daily total net inflows to -$242.3 million. IBIT launched in January of 2024 after Bitcoin-based ETFs were approved by the U.S. Securities and Exchange Commission (SEC) after a judge ordered the regulatory agency to rethink its viewpoint on the matter to remain consistent with its other stances. In November, it was reported that IBIT had surpassed BlackRock’s gold ETF (IAU) in terms of net assets, reaching over $33 billion. As stated by Nate Geraci, co-founder of the ETF Institute, at the time, “iShares Bitcoin ETF (IBIT) has now surpassed iShares Gold ETF in assets… Did this in 10 months. IAU launched in January 2005. Absolutely wild.” IBIT is trading for $56.04 at time of writing. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post BlackRock Spot Bitcoin ETF Witnesses $332,620,000 in Outflows, the ETF’s Largest-Ever Exodus in a Single Day appeared first on The Daily Hodl .
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Bitwise CEO Hunter Horsley Predicts Tokenization Will Revolutionize Equity Markets – Here’s How
The head of a prominent crypto investment management firm foresees one “non-obvious” way in which tokenization, the process of converting traditional assets to tokens on blockchain, will impact markets. In a new post on the social media platform X, Bitwise CEO Hunter Horsley lays out how he sees tokenization upending traditional stock and equities markets. “With tokenization, people have focused on the demand side: democratize access to money market funds by tokenizing them! There’s value there, but I think the demand side is potentially not the revolutionary story. I think the revolution is the supply side.” According to Horsley, the revolution lies in tokenization’s inherent ability to lower barrier to entry costs for raising capital. “Today, there are around 4,600 companies in the US that are able to access the public equity markets. The NAICs (National Association of Insurance Commissioners) estimates there are over 200,000 companies in the US doing over $10M in revenue. Not all companies want to be public of course; but many simply can’t because it requires immense scale. Enter tokenization, a new democratized capital market… Want to be invested in your local dry cleaner or hometown barber shop?” According to Horsley, this largely untapped resource could revolutionize how small to medium-sized businesses raise capital. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/tykcartoon/Fotomay The post Bitwise CEO Hunter Horsley Predicts Tokenization Will Revolutionize Equity Markets – Here’s How appeared first on The Daily Hodl . The Daily Hodl
What $1,000 in Bitcoin from Trudeau’s ‘freedom convoy’ freeze is now worth
Justin Trudeau announced his resignation as Canada’s Prime Minister, nearly three years after what is known as the “Freedom Convoy.” At that time, the Canadian national police ordered the freeze of millions of dollars worth of Bitcoin ( BTC ). On February 14, 2022, Justin Trudeau invoked the Emergency Act, facing the “Freedom Convoy” protests related to the COVID-19 pandemic. On February 16, 2022 Royal Canadian Mounted Police (RCMP) ordering all FINTRAC-regulated organizations in Canada to stop interacting with 34 Bitcoin wallets the world used to donate BTC to the protesting truckers . As Finbold reported later that year, these wallets received approximately 20 BTC, then worth between $877,760 and $891,480. This is an estimated valuation considering Bitcoin’s opening and closing price on February 16, ranging from $43,888 to $44,574 per BTC. Interestingly, $1,000 donated in Bitcoin at this infamous day would have transferred between 0.02243460 and 0.02278527 BTC. Bitcoin (BTC) historical price chart as of February 2022 (Trudeau’s Freedom Convoy funds frozen). Source: TradingView / Finbold Bitcoin (BTC) price analysis, 3 years after Trudeau’s ‘freedom convoy’ With BTC trading around $101,750 at the time of this writing, the $1,000 in Bitcoin donated to Trudeau’s truckers’ frozen “Freedom Convoy” wallets would now be worth from $2,282 to $2,318. Essentially, this would represent up to 132% gains in three years. Bitcoin (BTC) daily price chart. Source: Finbold Bitcoin has reached this price on January 6, 2025 after surging an impressive 4% in the intraday, renewing investors’ optimism. Some analysts also believe that BTC’s sudden price reaction could be a direct effect of Trudeau’s resignation. On a broader analysis, The Kobeissi Letter reported the Canadian Dollar itself surging in response to the political news. At posting time, the CADUSD pair surged by 0.35% from today’s opening. BREAKING: The Canadian Dollar is surging on reports of Justin Trudeau resigning. pic.twitter.com/KPfc0q7919 — The Kobeissi Letter (@KobeissiLetter) January 6, 2025 With this significant shift, most financial markets are bullish and see Justin Trudeau’s resignation as a net-positive event. However, the true financial consequences of this act are yet to be seen as things develop throughout 2025. Featured image from Shutterstock The post What $1,000 in Bitcoin from Trudeau’s ‘freedom convoy’ freeze is now worth appeared first on Finbold . The Daily Hodl