Month: January 2024

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…

Fastest-growing cryptocurrencies to keep an eye on in January 2024

Market optimism subsided in January, but some tokens are rising contrary to general trends. Which coins have become the top five fastest-growing cryptocurrencies this month? The digital coin market, despite its peculiarities, is considered a potentially profitable investment instrument. The tokens listed below have managed to maintain their market positions and experience rapid growth despite the unpredictable market situation. Sei (SEI) Sei Network is an independent blockchain built on software solutions from the Cosmos ecosystem. The developers position it as a network for high-frequency trading applications with high transaction processing…

Holders Flee BTC As Post-ETF Disappointment Hits

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On-chain data shows that Bitcoin investors have been clearing out their wallets recently as the asset continues to be disappointing in this post-ETF era. Bitcoin Small Wallets Have Been Displaying Signs Of Capitulation According to data from the on-chain analytics firm Santiment, the number of small BTC wallets has seen a sharp decline during the last few days. The indicator of relevance here is the “Supply Distribution,” which tells us about the amount of wallets that currently belong to the different holder groups on the Bitcoin network. The addresses are…