Bitcoin OG Owen Gunden sells $1.3 billion in BTC as retail panic grows, while institutional ownership of Bitcoin ETFs climbs to 40% despite market fear. Owen Gunden, one of the richest early Bitcoin holders, has sold his entire Bitcoin position as retail investors flee the market and institutions continue increasing their share of spot Bitcoin exchange-traded funds. The wallet tagged as Owen Gunden by blockchain data platform Arkham transferred his last 2,499 Bitcoin (BTC) worth $228 million to cryptocurrency exchange Kraken on Thursday. In total, Gunden’s wallet has sold 11,000 Bitcoin worth around $1.3 billion since Oct. 21, liquidating his entire Bitcoin holdings, according to Arkham. Read more
US spot Bitcoin ETFs logged $75 million in inflows after five days of redemptions, hinting at early stabilization as Bitcoin recovers above the $92,000 level. United States-listed spot Bitcoin exchange-traded funds (ETFs) broke a five-day outflow streak on Wednesday, recording $75.4 million in net inflows as Bitcoin reclaimed the $92,000 price point. Farside Investors data showed inflows led by BlackRock’s iShares Bitcoin Trust (IBIT), which pulled in $60.6 million on Wednesday — still a far cry from offsetting its $523 million in outflows the day before. The Grayscale Bitcoin Mini Trust ETF (BTC) also saw a positive day, contributing $53.8 million in inflows. On the other hand, Fidelity and VanEck’s spot Bitcoin ETFs saw combined outflows of $39 million on the same day. Read more