{"id":33732,"date":"2020-12-21T16:14:06","date_gmt":"2020-12-21T14:14:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33732"},"modified":"2025-08-28T15:20:48","modified_gmt":"2025-08-28T12:20:48","slug":"jpmorgan-slowing-grayscale-inflows-would-be-a-negative-signal-for-bitcoins-price","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/jpmorgan-slowing-grayscale-inflows-would-be-a-negative-signal-for-bitcoins-price\/","title":{"rendered":"JPMorgan: Slowing Grayscale inflows would be a negative signal for Bitcoin&#8217;s price"},"content":{"rendered":"<p>The probability of a material decline in Bitcoin&#8217;s price would rise if inflows to the Grayscale Bitcoin Trust (GBTC), managed by Grayscale Investments, were to fall notably. This is the view of JPMorgan&#8217;s chief strategist Nikolaos Panigirtzoglou, writes <a href=\\\"https:\/\/www.bnnbloomberg.ca\/jpmorgan-says-flows-to-into-major-crypto-fund-are-key-to-bitcoin-s-outlook-1.1539440\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Bloomberg<\/a>.<!--more--><\/p>\n<p>As of December 18, the assets under management by Grayscale reached $15.5 billion (at the start of the year, on January 13, the figure was $2.3 billion). GBTC accounts for $13.1 billion, which represents 84.3% of total assets.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">12\/18\/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.<\/p>\n<p>Total AUM: $15.5 billion<a href=\\\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$BTC<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24BCH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$BCH<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ETH<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24ETC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ETC<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24ZEN&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ZEN<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24LTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$LTC<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24XLM&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$XLM<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24XRP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$XRP<\/a> <a href=\\\"https:\/\/twitter.com\/search?q=%24ZEC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$ZEC<\/a> <a href=\\\"https:\/\/t.co\/SZa61KZJFc\\\">pic.twitter.com\/SZa61KZJFc<\/a><\/p>\n<p>\u2014 Grayscale (@Grayscale) <a href=\\\"https:\/\/twitter.com\/Grayscale\/status\/1340055161130119169?ref_src=twsrc%5Etfw\\\">December 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote>\n<p>&#8220;It\\&#8217;s hard not to say Bitcoin is overbought. It is also worth noting that inflows into GBTC are so large that no profit-taking by momentum traders can create a sustainable negative dynamic,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>According to Panigirtzoglou, a substantial slowing of inflows to GBTC would raise the risk of a Bitcoin correction akin to that seen in the second half of 2019. After the June peak near $14,000, Bitcoin&#8217;s price by the end of last year had fallen by 44%.<\/p>\n<p>On Saturday, December 19, the price of the first cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-hits-a-new-all-time-high-above-24000\">rose<\/a> to a new all-time high, surpassing the $24,000 mark.<\/p>\n<p>Over the past week, investments in Bitcoin were announced by the investment company Ruffer Investment ($704 million) and hedge fund One River Asset Management ($600 million). Read more in <a href=\"https:\/\/u1f987.com\/en\/news\/week-in-review-bitcoin-hits-new-high-above-24000-as-coinbase-files-for-ipo\">digest<\/a>.<\/p>\n<p>On Monday, the price of the first cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-23000\">corrected<\/a> to around $22,500 amid a substantial rise in trading volume.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The probability of a material decline in Bitcoin&#8217;s price would rise if inflows to the Grayscale Bitcoin Trust (GBTC), managed by Grayscale Investments, fell notably. This is the view of JPMorgan&#8217;s chief strategist Nikolaos Panigirtzoglou, Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":33733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,943,229,1138],"class_list":["post-33732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-grayscale-investments","tag-jpmorgan","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33732"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33732\/revisions"}],"predecessor-version":[{"id":33734,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33732\/revisions\/33734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33733"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}