BlackRock’s Bitcoin ETF daily inflow on halt for 4 days

April 30, 2024 Coin Telegraph

bitcoin etf

While some crypto observers are concerned about IBIT’s inflow halt, others say it’s more normal than the 71-day inflow streak it has recorded.

The Bitcoin (BTC) community is increasingly concerned about BlackRock’s spot Bitcoin exchange-traded fund (ETF) halting inflows for several consecutive days for the first time since launch.

BlackRock's iShares Bitcoin Trust (IBIT), the fastest-growing spot Bitcoin ETF in the United States, has not recorded any inflows since April 24.

According to data from IBIT’s official page, the fund has held the same 274,462 BTC over the past four trading days.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Franklin Templeton launches Ethereum ETF, listed on DTCC

April 27, 2024 Coin Telegraph

Coin Telegraph

The DTCC listing of the Franklin Templeton Ethereum spot ETF does not guarantee SEC approval of the S-1 filing for a spot Ether ETF.

Asset management firm Franklin Templeton has launched its Ethereum exchange-traded fund (ETF), dubbed the “Franklin Ethereum TR Ethereum ETF” and coded as EZET. The Ethereum spot ETF has been listed on the Depository Trust and Clearing Corporation website, a significant platform for securities transactions in the United States.

The DTCC website’s Create/Redeem column lists the ETF, indicating its availability for creation and redemption. This is a crucial aspect of ETFs, as it allows for adjusting the supply of ETF shares in response to demand, helping keep the ETF’s market price close to its net asset value.

The listing of the Franklin Templeton Ethereum spot ETF on the DTCC website does not necessarily indicate that the S-1 filing submitted to the United States Securities and Exchange Commission (SEC) for a spot Ether ETF has been approved.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

DTCC rules out collateral for Bitcoin-linked ETFs

April 27, 2024 Coin Telegraph

bitcoin etf

This notice means that exchange-traded funds and similar investment instruments with Bitcoin or other cryptocurrencies as underlying assets will not be assigned any collateral value.

The Depository Trust and Clearing Corporation (DTCC) — a financial services company that provides clearing and settlement services for the financial markets — stated that it will not allocate any collateral to exchange-traded funds (ETFs) with exposure to Bitcoin or cryptocurrencies and will not extend loans against them.

DTCC’s announcement states that effective April 30, 2024, the DTCC will implement changes to collateral values for specific securities during its annual line-of-credit facility renewal, potentially affecting position values in the collateral monitor.

This notice released on April 26 means that ETFs and similar investment instruments with Bitcoin (BTC) or other cryptocurrencies as underlying assets will not be assigned any collateral value, resulting in a 100% reduction in their collateral value.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Insights from Token2049: How crypto wealth is made

April 26, 2024 Coin Telegraph

Bitcoin Price

Attendees at Token 2049 in Dubai shared their personal stories on how they became rich.

Crypto conferences are hotspots for people who accumulated vast wealth by taking advantage of the rapid growth of digital assets. At Token2049 in Dubai, United Arab Emirates, Cointelegraph's Bradley Peak caught up with attendees to uncover the secrets behind their wealth.

The stories he heard were as diverse as the people themselves. Some were lucky or smart enough to invest in Bitcoin (BTC) early on, riding its surge and cashing out at the right moment. Others proudly declared themselves as "diamond hands," holding onto their Bitcoin through thick and thin, reaping the benefits as its value soared.

In the crowd were savvy traders who navigated the complexities of financial instruments like options and futures contracts, turning their expertise into profits. And then there were the fintech entrepreneurs who had built successful ventures within the crypto space, now enjoying the rewards of their hard work.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Mainland China investors won’t be able to buy Hong Kong Bitcoin ETFs

April 26, 2024 Coin Telegraph

bitcoin etf

Mainland Chinese citizens will not be able to purchase Bitcoin and Ether ETFs in Hong Kong because mainland China banned crypto transactions years ago.

The upcoming launch of spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETF) in Hong Kong will not open up the market for investors in mainland China, according to Bloomberg data analyst Jack Wang.

Following Hong Kong’s approval of spot BTC and ETH ETFs, the three Chinese asset managers including China Asset Management, Harvest Global Investments and Bosera set the spot crypto ETFs through their Hong Kong subsidiaries on April 30.

Though the ETF issuers have close ties with mainland China, they will not be able to provide Bitcoin or Ether exposure to investors in that jurisdiction.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Boomers to pour $300B into crypto markets — Morgan Creek Capital

April 25, 2024 Coin Telegraph

Boomers to pour 0B into crypto markets — Morgan Creek Capital

bitcoin etf

Morgan Creek Capital CEO Mark Yusko believes the full impact of Bitcoin ETF adoption has yet to be realized, as boomers will continue to gain more exposure to digital assets.

Morgan Creek Capital CEO Mark Yusko anticipates massive inflows into the crypto market as baby boomers’ wealth, estimated at trillions of dollars, seeks entry into digital assets.

During an interview with The Wolf Of All Streets podcast, Yusko discussed how the introduction of Bitcoin (BTC) exchange-traded funds (ETFs) and increased interest from registered investment advisers have led to a significant shift in demand. Its full impact, however, is yet to be realized. According to Yusko:

Yusko predicted capital flows are likely to come from baby boomers — those born between 1946 and 1964 — through retirement accounts managed by advisers. According to the Investment Adviser Association, U.S. financial advisers managed $114.1 trillion in assets in 2022.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Binance Labs-backed Velvet Capital forced offline to prevent phishing attack

April 23, 2024 Coin Telegraph

Applications

According to Vasily Nikonov, the founder of Velvet Capital, users who have confirmed any transactions on the platform since April 23 at 5:39 am UTC may be potential victims of the website hack.

Decentralized finance (DeFi) asset management protocol Velvet Capital was forced to deactivate its website temporarily to prevent a major phishing attempt.

Crypto community members on X reported unusual activity on Velvet Capital’s trading platform on April 23. Users trying to connect to the front-end were prompted to approve their wallet access to the protocol.

Internal investigations led Velvet Capital to issue a cybersecurity alert, advising investors to deny all wallet connect requests from the application until further notice.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Bitcoin ETF demand turns negative around BTC halving

April 22, 2024 Coin Telegraph

Bitcoin Halving

Spot Bitcoin ETFs initially recorded inflows that significantly outpaced the daily mining output, but demand seems to have slowed.

Demand for the newest Bitcoin investment products is slowing down as the world’s first cryptocurrency went through its fourth “halving” event.

Spot Bitcoin exchange-traded funds (ETFs) became a benchmark for institutional investments in Bitcoin (BTC) after launching in January 2024.

The 11 spot Bitcoin ETFs approved by United States regulators in January collectively managed over $13 billion in inflows within a couple of months of launching. Gold ETFs took years to accomplish the same feat.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Wealth management firms to boost Bitcoin ETF holdings – Bitwise CEO

April 21, 2024 Coin Telegraph

Coin Telegraph

The forecast mirrors the growing demand for ETFs, as evidenced by recent positive inflows in the U.S. Bitcoin ETF market.

Bitwise CEO Hunter Horsley has predicted that wealth management firms will increase their Bitcoin exchange-traded funds (ETFs) in terms of holdings. The prediction comes at a time when Bitcoin ETFs are expected to gain even more traction after the halving.

Horsley’s prediction aligns with the broader market belief that there is increasing demand for ETFs, given that Bitcoin BTC investments in the United States exchange-traded funds (ETFs) market recorded a net positive inflow right before the Bitcoin halving day following five consecutive days of drain.

BlackRock's iShares Bitcoin Trust (IBIT) is closing the gap with Grayscale’s, standing just $2 billion shy. This positions BlackRock to potentially surpass Grayscale as the world’s largest Bitcoin fund. Grayscale’s Bitcoin Trust (GBTC) experienced a 68-day period of value decline, shedding nearly $16 billion and reducing its assets to $19.4 billion.

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Bitcoin halving: Why it’s important for BTC scarcity

April 20, 2024 Coin Telegraph

Bitcoin Halving

Bitcoin's most important economic mechanism, the halving, could legitimize Bitcoin as a store of value asset for the digital age, seeking more liquid assets than real estate or gold.

The fourth-ever Bitcoin halving occurred a few hours ago at the 840,000th block. The halving is considered the most important economic mechanism influencing Bitcoin (BTC) supply and creating scarcity for the asset.

The Bitcoin network’s fourth halving event, reduced block issuance rewards from 6.25 BTC to 3.125 BTC per mined block, effectively slashing Bitcoin’s issuance rate in half.

The halving is a crucial mechanism for Bitcoin’s scarcity and market valuation, according to Karim Chaib, the CEO of crypto platform Dopamine App. Chaib told Cointelegraph:

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