Day: October 4, 2024

Bitwise eyes Bitcoin-Treasury ETF

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Bitwise has spun another crypto ETF filing after bidding for an XRP fund with the U.S. Securities and Exchange Commission. Bitwise furthered an exchange-fund trading filing spree with a new fund application targeting Bitcoin (BTC) and U.S. Treasuries.  According to Bloomberg’s James Seyffart, the product with ticker BITC would pivot capital between the leading cryptocurrency and America’s premiere short-term debt obligation. After initially filing for the fund last December, Bitwise submitted amended documents renaming its latest crypto investment vehicle to the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF. It’s…

Spot Crypto ETFs Prompted Bitwise to Rethink Its Fund Lineup

“Bitwise is likely just catering to things they’re hearing from clients and potential clients,” said James Seyffart, ETF analyst at Bloomberg Intelligence. “They have an actively managed division within Bitwise, so it makes sense to give it a try. We know there are investors looking to invest in bitcoin but who want to limit the volatility and particularly the downside volatility/drawdowns. I think that’s what this will aim to do. Whether or not it will be successful is something we will learn in the coming years, but timing the market…

Crypto Exchange Coinbase (COIN) to Delist Unauthorized Stablecoins in EU by December

Coinbase, the second biggest exchange, after Bybit, according to CoinGecko data, has been racing alongside other companies to become compliant with the European Union’s MiCA rules which require firms to be authorized in at least one EU country. Rules for stablecoins came into force on June 30, which require stablecoin issuers to have an e-money license in an EU member state to be able to operate in the bloc of 27 nations. Source

Ethereum’s identity crisis deepens as inflation returns, analyst warns

Q3 revealed a challenging landscape for the crypto market, marked by low on-chain fees, rising Bitcoin dominance, and Ethereum’s struggle with inflation and underperformance. Ethereum’s (ETH) identity is shifting as it moves from a deflationary model to inflation, raising doubts about its role as a cryptocurrency amid the rise of layer 2 solutions and Bitcoin’s (BTC) dominance. In an X article on Oct. 4, IntoTheBlock’s head of research Lucas Outumuro noted that although on-chain fees have seen a slight rebound in September, Ethereum continues to grapple with substantial fee reductions…

RIP Altcoin Seasons? Crypto Analyst Debates If They’ll Ever Return

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Este artículo también está disponible en español. In an analysis shared on X, crypto analyst Astronomer (@astronomer_zero) delves into the question that’s been looming over the crypto community in recents months: “Will we never have a proper altcoin season again?” As Bitcoin’s dominance (BTC.D) continues to surge and altcoins struggle to keep pace, Astronomer provides a data-driven perspective challenging the prevailing narratives that suggest the era of altcoin seasons may be over. Astronomer begins by acknowledging the difficulties faced by altcoin holders in the current market environment. “Alts are still…

Spot ETH and BTC ETFs Hit by Withdrawals, Losing $54.13M and $3.2M Respectively

The latest figures reveal that 12 U.S. spot bitcoin exchange-traded funds (ETFs) faced $54.13 million in net outflows on Thursday. Similarly, nine spot ether ETFs weren’t spared, as they saw $3.2 million pulled from their funds. Crypto ETFs Face More Losses On Oct. 3, 2024, the nine spot ethereum ETFs posted losses after enjoying gains […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin hits 62k as FTX token, Beam, Shiba Inu soar after US adds 254k jobs in September

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Bitcoin and other altcoins held steady after the Bureau of Labor Statistics published encouraging September nonfarm payrolls data. US nonfarm payrolls rebound Bitcoin (BTC) rose slightly to $62,500 while Solana (SOL) jumped by 3% to $140. FTX Token (FTT) was the best top-100 cryptocurrency as it jumped by 20%. It has risen by over 80% from its lowest level this month. Shiba Inu (SHIB), the second-biggest meme coin in the industry, was the second best-performing currency, rising by 10%. The other top performers were AAVE (AAVE), Beam (BEAM) and Celestia…