Grayscale Launches Bitcoin Adopters ETF as BTC Enters Structural Reset

Grayscale Investments has launched the Bitcoin Adopters ETF (BCOR) to provide exposure to companies holding significant BTC on their balance sheets. Analysis from Glassnode indicates Bitcoin is transitioning out of a correction phase.

Grayscale’s BCOR ETF

BCOR targets public firms with at least 100 BTC.
The ETF tracks the Indxx Bitcoin Adopters Index, featuring over 33 companies across 15 sectors with market caps above $100 million.
David LaValle, Grayscale's Global Head of ETFs, stated that BCOR captures momentum as companies adopt Bitcoin.
This ETF enters a competitive space with Bitwise’s OWNB ETF.

Glassnode Analysis

Bitcoin's recent price drop is seen as a consolidation, not a bear market.
Key pricing levels: 111DMA at $91.3k and Short-Term Holder Cost Basis at $93.2k.
Metrics indicate reduced investor stress; most BTC holders are profitable.
Critical resistance zone identified between $95k–$98k, where many short-term holders could sell.
Long-Term Holders may begin selling around $99.9k.
Clearing this area may lead Bitcoin to new highs above $100k.

Bitcoin Price Targets

Current price consolidating just above $95,000.
The MACD is showing potential for an upward shift, watch for confirmation in the next 1–2 candles.
RSI at 58.13 suggests renewed buying strength.
Key Fibonacci resistances: $97,454; $100,311; $103,169; and $104,935.
A breakout past $97.5K could lead to low-resistance territory towards $100K+.

Bitcoin Daily Chart | Source: TradingView