iShares Bitcoin ETF Suffers Record Outflow
The iShares Bitcoin Trust (IBIT), one of the largest U.S. bitcoin ETFs, saw $1.6 billion in net outflows from October 30 to November 17. This period included a daily record of $447 million in outflows.
Massive ETF outflows during weak market conditions are considered a red flag. This trend suggests that institutional appetite for Bitcoin may be cooling rather than just experiencing temporary trading fluctuations. Such a development could put pressure on Bitcoin's near-term demand.
Bitwise Launches First U.S. Spot Solana ETF
Bitwise Asset Management launched the United States' first spot Solana Staking ETF (BSOL) on the NYSE in late October. The ETF raised $420 million in its first week.
This launch represents a significant step forward for altcoin ETFs. By introducing a staking-based ETF for Solana, Bitwise is creating a new avenue for capital to flow into non-Bitcoin and non-Ethereum tokens. It is anticipated that competitors may soon follow suit, potentially indicating a structural shift in the market.
Hong Kong Loosens Crypto Rules and Kicks Off Tokenisation Pilot
Hong Kong regulators are easing cryptocurrency trading regulations and have initiated a tokenisation pilot program. These measures are intended to attract more digital asset firms to the city.
Hong Kong may emerge as a more important hub for tokenised finance and cryptocurrency capital. For projects and investors, this could translate to improved access to Asian liquidity and an innovation-friendly regulatory environment. However, it also implies an increase in competition.
Bitcoin Supply Tightens: 95% of BTC Already Mined
A report from KuCoin indicates that 95% of all Bitcoin has now been mined and is in circulation, leaving only a small portion yet to be issued.
The diminishing issuance pool has the potential to drive scarcity over time. As less Bitcoin is issued, upward price pressure may build, particularly if demand resurfaces. For long-term holders, this development intensifies the narrative of Bitcoin as "digital gold."