Valkyrie Investments co-founder Steven McClurg said the spot Bitcoin ETF is expected to receive SEC approval by the end of Wednesday and begin trading Thursday morning, with the first 10 ETFs launching at the same time. It could see $4 billion to $5 billion in inflows in the first few weeks.

- The Block

BITCOIN SPOT ETF APPROVED

An ETH ETF approval could come as soon as May.

Running bitcoin

Top 5 spot Bitcoin ETF trading volumes today:

Grayscale: $2.3 billion
BlackRock: $1 billion
Fidelity: $700 million
ARK 21Shares: $288 million
Bitwise: $125 million

The institutions are here 🚀

- thread

SkyBridge Capital founder Anthony Scaramucci said that the recent downturn in Bitcoin is partly due to selling pressure from Grayscale's GBTC and the FTX position, but he expects the selling pressure to be resolved in the next six to eight trading days.

The entry price for these Bitcoin spot ETF buyers is around $42K.

The heaviest concentration in history

Whales just bought $1.3 billion worth of Bitcoin

Ethereum Permanent Holders Inflows

There's only one other time in Bitcoin's existence when it had tighter 5D compression.

It was 12 years ago and price was $5.

S-1 Expected To Be Approved By July 2nd According To BBG Analyst Eric Balchunas.