Daily US Bitcoin ETFs Net Flow Analysis (As of October 08, 2024)

As of October 8, 2024, the U.S. Bitcoin ETFs reported a substantial net inflow totaling 3,428 BTC, bringing the combined holdings to 924,530 BTC. BlackRock’s IBIT ETF saw the most significant increase, adding 1,548 BTC to its holdings, which now stand at 368,958 BTC. This was closely followed by Fidelity’s FBTC ETF, which gained 1,639 BTC, raising its total to 179,565 BTC.

Other ETFs also reported gains, with ARK Invest’s ARKB ETF receiving an additional 200 BTC, totaling 47,504 BTC. Bitwise’s BITB ETF added 207 BTC to its holdings, reaching 39,206 BTC. VanEck’s HODL ETF increased by 85 BTC, bringing its holdings to 11,822 BTC.

However, not all ETFs experienced inflows; Grayscale’s GBTC ETF saw a reduction of 250 BTC, bringing its total down to 220,356 BTC. Grayscale’s BTC ETF slightly decreased by 1 BTC, ending the day with 33,751 BTC. Valkyrie’s BRRR, Invesco’s BTCO, and Franklin Templeton’s EZBC ETFs saw no changes in their holdings.

The day’s activities contributed to a total value increase of approximately $213.3 million, emphasizing robust investor interest and dynamic capital movement within the Bitcoin ETF market.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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The Bitcoin Report: Parabolic Growth Predicted for Q4 2024

As we enter Q4, a period historically known for strong Bitcoin performance, the latest edition of The Bitcoin Report from Bitcoin Magazine Pro delivers essential insights into the evolving market dynamics of Bitcoin. With a blend of quantitative on-chain data, technical analysis, and macroeconomic perspectives, this report offers a comprehensive look at Bitcoin’s positioning, highlighting critical opportunities and challenges for both investors and market participants.

Key Highlights from the Report:

Historical Q4 Performance: Bitcoin has averaged a 23.3% return in Q4, showing a strong seasonal trend toward bullish performance.Breaking Significant Resistance: Recent technical analysis… Read more on BitcoinMagazine

Decentralization maximalism is dead. Long live permissionless maxis.

Here’s my confession: I was a decentralization maxi for the first half-decade of my time in crypto. 

The market has however shifted to a slightly different bent, taking me along with it. Permissionless maximalism is now the prevailing alignment. 

Decentralization does tend to feed into permissionless-ness. The latter implies there is no central authority granting or denying permission to join the network — thereby making it decentralized — but permissionless systems can be centralized in nature. 

Image boards like 4chan, for instance, don’t ask users to create accounts to post or view content. Setting aside the extensive moderation, there’s effectively no initial permission…

Read more on Blockworks

Crypto.com files suit against SEC, discloses Wells notice

Crypto.com said it filed a suit against the Securities and Exchange Commission after it received a Wells notice earlier this year. 

The crypto firm said it’s trying to “protect the future of the crypto industry in the U.S., joining a series of our peers who are actively defending themselves and taking action against a misguided federal agency acting beyond its authorization under the law.”

A slew of other crypto firms have also received similar notices including Uniswap, Consensys and Robinhood. 

“Our lawsuit contends that the SEC has unilaterally expanded its jurisdiction beyond statutory limits and separately that the SEC has established an unlawful rule that trades in…

Read more on Blockworks

The FTX saga is finally coming to an end

Today, enjoy the Empire newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Empire newsletter.

This week, Blockworks is taking over Salt Lake City with Permissionless III — a three-day conference specially for users, founders, investors, devs and policymakers.

Our editorial team will be there in force, which means we’re scaling back the Empire newsletter format during the event. 

Enjoy the slightly abbreviated read, and if you haven’t secured your tickets yet, grab them here.

— David Canellis

RIP FTX

We’re one step closer to wrapping up the FTX saga for good. Really.

The bankruptcy of the FTX estate — which was once one…

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SHINOBI: Stop Demonizing Developers Over Nonsense

Recently a big snafu was made about changes to the BIP 85 repository. For those not familiar with the BIP, it’s a very simple scheme to allow generating new word seeds from a derivation path in a pre-existing word seed that you have. The logic of the BIP is to enable people who utilize multiple wallets to manage the chaos of having to maintain individual isolated backups for numerous wallets.

By generating new seeds based on the entropy of a derivation path,…

Read more on BitcoinMagazine