Coinbase (COIN) sees its spot bitcoin ETF outflows exceeding inflows. Coinbase stock slumps by over 9% at Monday's close. Yahoo Finance Live examines the crypto platform's stock and what is weighing on it. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Coinbase (COIN) sees its spot bitcoin ETF outflows exceeding inflows. Coinbase stock slumps by over 9% at Monday's close. Yahoo Finance Live examines the crypto platform's stock and what is weighing on it.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Barrons.com
The launch of Bitcoin exchange-traded funds hasn’t led to a predicted boom in trading volume and prices. In fact, the ETFs may even be a drag for Coinbase Global, according to an analyst. Since the ETFs launched to much fanfare in January, average daily spot trading volume on Coinbase has fallen to $1.9 billion from $2.5 billion in the 30 days preceding their launch, according to Mizuho analyst Dan Dolev.
Barrons.com
With the market absorbing the launch of new spot Bitcoin exchange-traded funds, crypto traders are looking ahead to the next major catalyst for gains, which could come as soon as April. The price of Bitcoin has risen less than 1% over the past 24 hours to $43,150, having earlier tumbled to $42,250 before rebounding. Bitcoin likely is to continue moving in step with other risk-sensitive assets—namely, stocks—in the days and weeks to come as investors remain focused on the outlook for inflation and interest rates.