Thailand's SEC Grants Approval for first spot #BitcoinETF
#Crypto #CryptoNews
🔵Thailand's SEC approves One Asset Management to launch the first spot #Bitcoin exchange-traded fund (#ETF) in the country.
🔵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.
🔵It was limited to wealthy and institutional investors and carried an investment risk level of eight, indicating its potential for volatility.
#Crypto #CryptoNews
🔵Thailand's SEC approves One Asset Management to launch the first spot #Bitcoin exchange-traded fund (#ETF) in the country.
🔵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.
🔵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?
🔵U.S. economic uncertainty: Investor concerns about inflation and interest rates impact #crypto prices.
🔵#Fed's rate cut outlook: Powell's remarks dampen hopes for 2024 rate cuts.
🔵Spot #BitcoinETF outflows: Significant withdrawals from Bitcoin ETFs indicate a de-risking strategy.
🔵Long #liquidations: Increased selling pressure from liquidated long positions drives market down.
🔵Weakening market structure: Technical analysis shows declining trend and loss of crucial support level
🔵#MtGox cold wallet transfer: Created uncertainty and panic as creditors cash out.
🔵German government #BTC sale: Increased selling pressure as the German government recently sold 7,583 BTC worth $419.5 million.
🔵U.S. economic uncertainty: Investor concerns about inflation and interest rates impact #crypto prices.
🔵#Fed's rate cut outlook: Powell's remarks dampen hopes for 2024 rate cuts.
🔵Spot #BitcoinETF outflows: Significant withdrawals from Bitcoin ETFs indicate a de-risking strategy.
🔵Long #liquidations: Increased selling pressure from liquidated long positions drives market down.
🔵Weakening market structure: Technical analysis shows declining trend and loss of crucial support level
🔵#MtGox cold wallet transfer: Created uncertainty and panic as creditors cash out.
🔵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 More👇👇👇
https://coinpedian.substack.com/p/will-bitcoin-see-market-capitulation
Want to Know What Happened in the #BitcoinETF Market Post-July 4?
Click Below to Read More👇👇👇
https://coinpedian.substack.com/p/will-bitcoin-see-market-capitulation
Substack
Will Bitcoin See Market Capitulation Soon?
Major Bitcoin Sell-Off Expected Next Week!
#BitcoinETF Movements on July 31
🔹Bitcoin Spot ETF: Net inflow of $298,900
🔹Grayscale ETF (GBTC): Net outflow of $0.00
🔹Grayscale Mini ETF (BTC): Net inflow of $17.9954 million
🔹BlackRock ETF (IBIT): Net inflow of $20.9892 million
🔹Fidelity ETF (FBTC): Net outflow of $31.57 million
Source:https://sosovalue.com/assets/etf/us-btc-spot
🔹Bitcoin Spot ETF: Net inflow of $298,900
🔹Grayscale ETF (GBTC): Net outflow of $0.00
🔹Grayscale Mini ETF (BTC): Net inflow of $17.9954 million
🔹BlackRock ETF (IBIT): Net inflow of $20.9892 million
🔹Fidelity ETF (FBTC): Net outflow of $31.57 million
Source:https://sosovalue.com/assets/etf/us-btc-spot