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#CryptoNews: Australia's First Spot Bitcoin ETF Launches Tomorrow!

πŸ”΅ Monochrome(Australian asset manager) #BitcoinETF, Australia's first spot #ETF, starts trading on #CBOE Australia tomorrow.

πŸ”΅ It holds #Bitcoin directly, marking a milestone in Australia's financial landscape.

πŸ”΅ Offers Australians regulated exposure to Bitcoin, attracting retail and institutional investors.

πŸ”΅Expected impact: increased interest in #crypto, reflecting Australia's growing digital asset adoption.
Thailand's SEC Grants Approval for first spot #BitcoinETF

#Crypto #CryptoNews

πŸ”΅Thailand's SEC approves One Asset Management to launch the first spot #Bitcoin exchange-traded fund (#ETF) in the country.

πŸ”΅The newly approved fund, named ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI), was set to be distributed between May 31, 2024, and June 6, 2024, according to a report from Bangkok Post.

πŸ”΅It was limited to wealthy and institutional investors and carried an investment risk level of eight, indicating its potential for volatility.
Top Reasons for $BTC Price Dump?

πŸ”΅U.S. economic uncertainty: Investor concerns about inflation and interest rates impact #crypto prices.

πŸ”΅#Fed's rate cut outlook: Powell's remarks dampen hopes for 2024 rate cuts.

πŸ”΅Spot #BitcoinETF outflows: Significant withdrawals from Bitcoin ETFs indicate a de-risking strategy.

πŸ”΅Long #liquidations: Increased selling pressure from liquidated long positions drives market down.

πŸ”΅Weakening market structure: Technical analysis shows declining trend and loss of crucial support level

πŸ”΅#MtGox cold wallet transfer: Created uncertainty and panic as creditors cash out.

πŸ”΅German government #BTC sale: Increased selling pressure as the German government recently sold 7,583 BTC worth $419.5 million.
#Crypto Expert Warns: Major #Bitcoin Selloff Predicted for This Weekend!

Want to Know What Happened in the
#BitcoinETF Market Post-July 4?

Click Below to Read MoreπŸ‘‡πŸ‘‡πŸ‘‡

https://coinpedian.substack.com/p/will-bitcoin-see-market-capitulation
#BitcoinETF Movements on July 31

πŸ”ΉBitcoin Spot ETF: Net inflow of $298,900

πŸ”ΉGrayscale ETF (GBTC): Net outflow of $0.00

πŸ”ΉGrayscale Mini ETF (BTC): Net inflow of $17.9954 million

πŸ”ΉBlackRock ETF (IBIT): Net inflow of $20.9892 million

πŸ”ΉFidelity ETF (FBTC): Net outflow of $31.57 million

Source:https://sosovalue.com/assets/etf/us-btc-spot