Day: January 26, 2024

Spot Bitcoin ETFs see $80m net outflows on Thursday

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Investor interest in newly launched spot Bitcoin ETFs seems to wane, as another $80 million net outflow was recorded yesterday.  According to Bloomberg reports, Bitcoin ETFs witnessed an approximately $270 million inflow on Wednesday. However, factoring in the withdrawals from Grayscale Investment’s Bitcoin ETF, the net outflows totaled about $153 million on that day. The trend continued today with a $80 million net outflow, marking the fourth straight day of net withdrawals across these 10 funds.  These outflows were solely from the Grayscale Bitcoin Trust (GBTC), which transitioned into an…

Keren Blankfeld on the Story of ‘Lovers in Auschwitz’

Every year, International Holocaust Remembrance Day marks the anniversary of the Jan. 27, 1945, liberation of Auschwitz, Nazi Germany’s biggest death camp, where more than 1 million Jews were murdered or died there. And yet, 79 years later, new information about what life in Auschwitz was really like is still coming out. The latest is Keren Blankfeld’s Lovers in Auschwitz: A True Story, a book out Jan. 23 about two Jewish prisoners who managed to date while imprisoned, but went their separate ways after the liberation and would not see…

Could Bitcoin Ever Skyrocket To $10 Million? Possible, But Based On This Condition

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Peter Schiff, a well-known critic of Bitcoin, recently engaged in a thought-provoking discussion about Bitcoin’s value relative to gold. Despite his longstanding skepticism, Schiff has presented a scenario where Bitcoin could reach roughly $10 million by 2031. However, the Bitcoin critic responded that this could happen under particular economic conditions. Schiff’s Extreme Hypothesis On Bitcoin’s Ascent To $10 Million This bold statement arises from the Economist’s comparison of Bitcoin’s potential growth trajectory to gold, highlighting the volatility of crypto assets and the spirited optimism of their proponents. No matter how…

U.S. SEC Delays Decision on Grayscale and BlackRock Spot Ethereum Exchange-Traded Fund Applications

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Federal securities regulators say they need a longer period to consider asset managers Grayscale Investments and BlackRock’s applications for an Ethereum (ETH) exchange-traded fund (ETF). In an order dated January 24th, the U.S. Securities and Exchange Commission (SEC) says it is extending the period to decide on a proposed rule change to convert the Grayscale Ethereum Trust (ETHE) product into an ETF. “On December 5, 2023, pursuant to Section 19(b)(2) of the Act, the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed…

IBIT First Spot BTC ETF to Reach $2B in AUM

Investors added about $170 million to IBIT on Thursday, with the fund purchasing nearly another 4,300 bitcoin (BTC), pushing total tokens held to 49,952. With the price of bitcoin rising well above the $40,000 level early Friday, that brought AUM to above $2 billion. Source

Crypto-Linked Stocks Rise With Bitcoin (BTC) Price as Analyst Says ‘Not The Time to Turn Bearish’

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Crypto-linked stocks rallied Friday after bitcoin (BTC) price rose more than 3% in the last 24 hours, ending the week in the green. Bitcoin mining companies, which generally are more exposed to the price fluctuations, were the biggest gainers, with many of the stocks rising from 5% to 15%, including Cipher Mining (CIFR), Mawson (MIGI), Core Scientific (CORZ), Sphere 3D (ANY), TeraWulf (WULF), Bitfarms (BITF), Marathon Digital (MARA), and Hut 8 (HUT), which had been particularly hit hard earlier in the week after it became a target of a short…

US Government Will Dump $130 Million Worth Of Bitcoin

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The US government has revealed its plans to offload a significant portion of its Bitcoin (BTC) holdings. This move has raised concerns in the crypto community, considering how much selling pressure this could add to what the crypto market is already facing.   US Government To Sell $130 Million Worth Of Bitcoin The Department of Justice (DOJ) gave notice of its intent to dispose of over $130 million worth of Bitcoin. These crypto assets form part of what had been forfeited to the government in its case against Joseph Farace. The…

Tokens surge double digits as Bitcoin shrugs GBTC stream

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A 3% jump in crypto’s total market cap signaled broad market gains, with Bitcoin weathering reduced sell pressure from Grayscale GBTC ETF outflows.  Bitcoin’s (BTC) charge above $41,000 on Jan. 26 bolstered market sentiment, triggering price appreciations for hundreds of cryptocurrencies. According to CoinMarketCap, some 10 tokens saw double-digit price increases in the last 24 hours.  Tokens include Bitcoin BRC-20 token 1000SATS (SATS) with a 21% jump. Conflux (CFX), the so-called ‘China’s Ethereum’ gained over 15% in second, while Ethereum Name Service (ENS) followed closely, increasing by 14%.  Conflux announced…

SEC delays Grayscale spot Ethereum ETF to May

The U.S. Securities and Exchange Commission (SEC) has again delayed issuing a decision on Grayscale’s application to launch a spot Ethereum (ETH) ETF. According to a message on the regulator’s website, the Commission requested public comments on how the regulator should handle Grayscale’s application. The SEC is interested in whether the ETH algorithm – Proof-of-Stake (PoS) and the concentration of a large volume of Ethereum in the hands of several individuals could make the fund vulnerable to fraud and manipulation. The next application deadline is in May. The company first…