Vanguard Group – the $7.7 trillion asset manager outsized only by BlackRock – has blocked client access to all newly listed Bitcoin spot ETFs. The firm has also ruled out launching a Bitcoin ETF product of its own, claiming the asset doesn’t align with the firm’s investment philosophy. Banks Blocking Bitcoin Access Multiple Twitter and...Read More
NEAR Foundation announced plans to cut its team down by about 40% as part of its realignment initiative, impacting 35 employees. In 2023, the NEAR Protocol managed to host three of ten top Web3 apps, achieve a record number of users daily, and gain more Ethereum community partnerships. NEAR Foundation Realignment Efforts NEAR Foundation has...Read More
Robinhood CEO Vlad Tenev announced today that the company would list Bitcoin ETFs on its platform. The statement follows the landmark decision by the Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs. SEC’s Approval to Integrate Crypto with Traditional Finance “We’ve been ahead of the curve in crypto access, and we plan to list...Read More
Bitcoin miner outflow has reached a 77-month high despite an overall positive trend in the crypto market. According to on-chain intelligence firm CryptoQuant, the ‘Miner Outflow’ metric demonstrated the outflow of Bitcoin from mining pool wallets not seen since August 2017. The outflow metric doesn’t directly monitor funds transferred from miners’ addresses to crypto exchanges,...Read More
Bitcoin (BTC) ripped to another multi-year high of $49,000 on Thursday within an hour of the first U.S. Bitcoin spot ETFs going live on public markets. Between all 11 fund providers, Bitcoin ETFs have already traded $1.7 billion in cumulative volume, based on Yahoo Finance data. According to Bloomberg ETF analyst James Seyffart, Grayscale’s Bitcoin...Read More
During a recent Reddit Ask Me Anything (AMA) event organized by the Ethereum Foundation’s research team, the protocol’s co-founder Vitalik Buterin suggested a “modest” increase in its gas limit to improve network throughput. Buterin noted that the gas limit has not been increased for nearly three years, marking the longest period in the protocol’s history....Read More
America’s largest cryptocurrency exchange, Coinbase, has tagged the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. a “watershed moment,” which would lead to the expansion of the digital asset economy. In a blog post, the trading platform stated that the new products would unlock diversified pools of fresh investors to propel long-term growth...Read More
The Securities and Exchange Commission (SEC) recently approved several Bitcoin Exchange-Traded Funds (ETFs) in a watershed moment for the crypto industry. However, the enthusiasm surrounding this milestone was dampened by the critical stance taken by SEC Chair Gary Gensler towards Bitcoin and cryptocurrencies in general. Cathie Wood Reacts to Gensler’s Comment This drew surprise and...Read More
Hester Peirce, also known as ‘crypto mom,’ didn’t mince her words in a statement responding to the approval of spot Bitcoin exchange-traded products by her agency after a decade of rejecting them. “Today marks the end of an unnecessary, but consequential, saga,” she said on Jan. 10. The saga likely would have spanned well beyond...Read More
The ProShares Bitcoin Strategy ETF (BITO) has witnessed a significant surge in its assets under management, approaching the $2 billion mark on January 8th, thereby registering an all-time high. On the same day, the trading volume of the fund crossed $800 million. Launched in October 2021, BITO made history as the first-ever Bitcoin futures exchange-traded...Read More
Celsius, the platform whose bankruptcy plan was finally approved late last year, has recently lashed out at former clients who cashed out before the company had the opportunity to freeze their funds. Bold Propositions The former crypto staking, lending, and exchange platform that has since shifted its focus to Bitcoin mining following the approval of...Read More
Analysts in the crypto community wonder if the false announcement on the spot Bitcoin exchange-traded funds (ETF) approval from the X account of the United States Securities and Exchange Commission (SEC) is an inside job. In a tweet, Gabor Gurbacs, the director of digital asset initiatives at investment management firm VanEck, also vying for a...Read More
The Chicago Board Options Exchange (CBOE) has issued notifications confirming that several highly anticipated Bitcoin spot ETPs will begin trading at 9:30 am ET on Thursday. Confirmed ETPs include the VanEck Bitcoin Trust (HODL), the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB), according to the CBOE’s website. Bloomberg ETF...Read More
Steve McClurg, co-founder and chief investment officer of Valkyrie Funds, has suggested the potential approval of Ethereum or XRP exchange-traded funds (ETFs) following the expected launch of spot Bitcoin ETFs in a recent Bloomberg interview. The prediction comes from the U.S. Securities and Exchange Commission (SEC), which is reportedly likely to approve Valkyrie’s Bitcoin ETF,...Read More
Ripple, the company behind the popular cryptocurrency XRP, is planning a $285 million share buyback from its earliest investors and employees, according to a Wednesday report from Reuters. The tender offer would value the company at $11.3 billion, and only allow investors to sell up to 6% of their stake, anonymous sources told the media...Read More
Market research boutique Fundstrat envisions Bitcoin (BTC) reaching $500,000 per coin within the next five years – in large part due to expected Bitcoin spot ETF approvals. “I think in five years, something around half a million would be potentially achievable,” said Fundstrat’s Tom Lee in an interview with CNBC on Wednesday. How Meaningful Is...Read More
Several firms have recently reduced their proposed fees, as revealed in the latest versions of their S-1 forms submitted to the U.S. Securities and Exchange Commission. This is in response to the ongoing industry competition, amplified by the anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) decision on spot Bitcoin ETFs. Spot Bitcoin ETF...Read More
The fake news originating from a compromised X (formerly Twitter) handle triggered significant volatility within the Bitcoin market, and the drama was even more bizarre than expected, according to Greeks.live, a popular crypto options trading platform. The sharp volatility resulted in a substantial increase in RV, while IV experienced a slight decrease. Leverage Unwinding The...Read More
Cathie Wood’s ARK’s spot Bitcoin ETF is one of the many proposals put forward for the US Securities and Exchange Commission (SEC). Dubbed ARK 21Shares, the product was developed in collaboration with Swiss firm 21Shares, which offers crypto exchange-traded products. Ark21’s Deadline Raises Confidence in ETF Announcement Tonight An update from QCP Capital indicates a high...Read More
At this point, spot Bitcoin ETF approvals are a foregone conclusion. It is not a matter of if but when the SEC will finally greenlight them; at least, this is what most experts believe. It could be any day now, Investors Business Daily reported Tuesday: “Regulatory approval of spot bitcoin ETFs is likely in the...Read More
On Jan. 9, the agency’s X account was compromised, and an announcement was made that spot Bitcoin ETFs have been approved. On Jan. 10, X Support confirmed that the account was hacked, stating: “We can confirm that the account @SECGov was compromised and we have completed a preliminary investigation.” It added that there was no...Read More
The debut week of 2024 marked a promising start for digital asset investment products, reaching inflows of $151 million in assets. This brought the total inflows since the Grayscale vs. SEC lawsuit to $2.3 billion, constituting 4.4% of all assets under management (AuM), as per prominent asset manager CoinShares. Spot Bitcoin ETF Not ‘Buy The...Read More
Fox Reporter Eleanor Terrett has recently highlighted a significant procedural aspect of the U.S. Securities and Exchange Commission (SEC) that could influence the fate of the much-anticipated spot Bitcoin Exchange-Traded Fund (ETF) approval. According to Terrett’s January 9th tweet, even though there is no scheduled commission vote on the Bitcoin ETF, each of the five...Read More
A new report by Kaiko reveals that the liquidity for privacy tokens has plummeted to an all-time low of just $5 million. This drop follows the delisting of several trading pairs by OKX for not meeting certain criteria. Regulatory Challenges Behind Delisting Regulatory pressures have particularly impacted tokens like Monero (XMR) and Zcash (ZEC), pushing...Read More
The Securities and Exchange Commission (SEC) announced on Tuesday that it has approved for Bitcoin ETFs to be listed on all national securities exchanges in the United States. However, a later post from SEC chairman Gary Gensler clarified that the announcement was fake. In an SEC post to X, the agency claimed that approvals had...Read More
Jay Claton, the former chairman of the United States Securities and Exchange Commission (SEC), believes the agency’s approval of a spot Bitcoin exchange-traded fund (ETF) is inevitable. During an interview with CNBC, Clayton said nothing is left for the SEC to decide as the regulator is comfortable with the disclosures from ETFs’ applicants. “I think...Read More
Earlier this month, Bitcoin’s USD value witnessed a rapid decline from $45,400 to $40,400 in a matter of hours. Despite a quick rebound, this downturn triggered the third-highest volume of long liquidations since the bear market reached its lowest point in November 2022. However, IntoTheBlock’s analysis reveals a noteworthy trend in the market, indicating a...Read More
90% of Bitcoin addresses are in profit even as the crypto asset is over 31% down from its all-time high. IntoTheBlock’s analysis reveals a significant milestone for Bitcoin as it surged past the $46,000 mark, pushing more than 90% of all BTC addresses into a profitable zone. 90% of Bitcoin Addresses in Profit According to...Read More
Those closely monitoring the ongoing developments in the spot Bitcoin ETF saga are likely aware the stakes have never been higher. Experts are now emphasizing potential scenarios and recommended responses in the event of an approval. Increasing the cash portion of the investor portfolio and preparing for volatility could be the right way to go....Read More
Following a remarkable climb in 2023, Cardano (ADA) has experienced a downward trajectory for the past few weeks, deviating from the prevailing bullish market sentiment. As a result, ADA has registered a monthly loss of nearly 20%, leading to a reduction in its yearly gains to just over 61%. Priced at $0.522, experts suggest that...Read More
