ARK buys $21M of 3iQ Ether staking ETF, dumps $14.6M of Coinbase stock

August 2, 2024 Coin Telegraph

ARK buys M of 3iQ Ether staking ETF, dumps .6M of Coinbase stock

3iq

Cathie Wood’s ARK has resumed active trading of crypto-related stocks like Coinbase, 3iQ Ether staking ETF, Robinhood and its own spot Bitcoin ETF.

Cryptocurrency-related trades are again gathering steam at Cathie Wood’s investment firm ARK Invest as it returned to trading tens of millions of dollars in crypto-related stocks and exchange-traded funds (ETF) in one day.

After resuming significant sales of Coinbase stock in July, ARK increased it’s sales selling in August, dumping 69,069 Coinbase shares on Aug. 1, according to trading data seen by Cointelegraph. Based on the stock’s closing price, the amount is worth $14.7 million, according to data from TradingView.

The transaction is ARK’s biggest Coinbase sale since early April and late March when the firm dumped around 60,000 Coinbase shares daily.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

VC Roundup: Investments in Web3 startups top $1B in July

August 1, 2024 Coin Telegraph

VC Roundup: Investments in Web3 startups top B in July

Coin Telegraph

This edition of Cointelegraph’s VC Roundup features Pichi Finance, Sybill, Hyperbolic, Raad Labs, and zkLink.

Web3-based startups raised more than $1.1 billion from venture capitalists across 118 deals in July, according to data available on Rootdata.

As the market experiences more liquidity and investors regain confidence in the crypto ecosystem, new ways of raising capital keep emerging. Lightning Ventures, for instance, recently announced the regulated crowdfunding portal Thunder Funder, which allows eligible companies to offer and sell securities through crowdfunding up to $5 million annually.

Along with bootstrapping startups, the fund seeks to offer opportunities to individuals, especially retail investors, in largely inaccessible investment markets. Thunder Funder’s parent company, LTNG Ventures Inc., has closed a $500,000 pre-seed funding round to back the initiative. The fund will initially focus on open-source and Bitcoin-related projects.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

Cathie Wood’s Ark sells $2.7M Coinbase shares as BTC fails $70K retest

August 1, 2024 Coin Telegraph

Cathie Wood’s Ark sells .7M Coinbase shares as BTC fails K retest

Ark Invest

Cathie Wood’s crypto investment firm ARK resumed selling the Coinbase stock amid the Bitcoin price push in July.

ARK Invest — one of 10 issuers of spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States — is taking profits from its Coinbase stash amid BTC’s failure to retest $70,000.

Cathie Wood’s crypto investment firm ARK has resumed selling Coinbase (COIN) stock, with its ARK Next Generation Internet ETF (ARKW) offloading 12,077 COIN shares on July 31, according to trade notification seen by Cointelegraph.

According to data from TradingView, the amount was worth $2.7 million at the time of the sale, with COIN closing at $224 on July 31.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

Blackrock’s IBIT Propels US Spot Bitcoin ETFs to $124M Inflows on Monday

July 30, 2024 Bitcoin.com

Bitcoin

U.S. spot bitcoin exchange-traded funds (ETFs) attracted $124.13 million on Monday, elevating the total net inflows to $17.71 billion. Data indicates that $2.68 billion was traded during Monday’s sessions, with Blackrock’s IBIT emerging as the only gainer. Blackrock’s IBIT Emerges as Monday’s Sole Gainer On Monday, sosovalue.xyz stats show the 11 U.S. spot bitcoin ETFs […]

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

Solana beats Ethereum in weekly total fees for the first time — Research

July 29, 2024 Coin Telegraph

Coin Telegraph

On July 28, Solana topped $5.5 million in daily total fees, the highest for the network in three months.

Layer-1 blockchain Solana surpassed rival Ethereum in weekly total fees for the first time in the week of July 22, clocking approximately $25 million in revenue versus Ethereum’s $21 million , according to Blockworks Research.

The purported “Ethereum killer” has been on a tear in 2024, aided by an ongoing frenzy of celebrity coin trading hosted largely on Solana-based memecoin platforms such as pump.fun and Moonshot. Memecoins now exceed $50 billion in total market capitalization.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

SEC approves Grayscale Bitcoin Mini Trust for Trading on NYSE Arca

July 26, 2024 Coin Telegraph

bitcoin etf

Grayscale must await final regulatory signoff on its registration filing before listing the fund

The United States Securities and Exchange Commission (SEC) approved Grayscale’s newest spot Bitcoin (BTC) exchange-traded fund (ETF) — Grayscale Bitcoin Mini Trust (BTC) — for listing on the New York Stock Exchange’s (NYSE) Arca electronic trading platform, according to a July 26 filing.

The approval is an important milestone for Grayscale, which announced plans on July 19 to spin off a portion of its flagship Bitcoin fund, Grayscale Bitcoin Trust (GBTC), into the new Mini Trust.

“Grayscale is excited to share that the [SEC] has approved NYES Arca's Form 19b-4 application to list and trade shares of Grayscale Bitcoin Mini Trust (proposed ticker: BTC),” a spokesperson told Cointelegraph in an email.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

Michael Saylor ups Bitcoin price forecast to $13 million in mega-bullish keynote — Bitcoin 2024

July 26, 2024 Coin Telegraph

Bitcoin Price

"Triple maxi" Bitcoin bulls could earn a net worth of $214 million by 2045, Saylor said.

Michael Saylor, the outspoken co-founder of business intelligence company MicroStrategy, predicted Bitcoin (BTC) will reach $13 million per coin by 2045 during a mega-bullish keynote speech on July 26 at the Bitcoin 2024 conference.

Saylor's forecast — which upgrades his $10 million estimate in June — is only a base case. “It could be a $3 million bear case, it could be a $49 million bull case,” according to Saylor, who urged listeners at the Nashville, Tennessee event to become “triple maxi” Bitcoin bulls.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

Blackrock foresees “very little interest” in crypto ETFs beyond Bitcoin, Ethereum — Bitcoin2024

July 25, 2024 Coin Telegraph

Analysis

Clients see Bitcoin and Ethereum as complements, not substitutes, in crypto portfolios, according to Blackrock's head of digital assets.

Asset manager Blackrock sees “very little interest” among clients in crypto beyond Bitcoin (BTC) and Ethereum (ETH) and doesn’t foresee many crypto exchange-traded funds (ETFs) outside of those two core digital assets, according to Robert Mitchnick, BlackRock’s head of digital assets, speaking at the Bitcoin2024 conference on July 25 in Nashville, Tennessee.

“I would say that our client base today, their interest overwhelmingly is in Bitcoin first, and then somewhat in ETH… and there’s very little interest today beyond those two,” Mitchnick said at a panel entitled From Strategy to Innovation: BlackRock's Bitcoin Journey.

“I don't think we're gonna see a long list of crypto ETFs,” Mitchnick said. Blackrock launched its first crypto exchange-traded funds — iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA) — in January and July, respectively.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

VanEck says Bitcoin could hit $2.9 million per coin by 2050

July 25, 2024 Coin Telegraph

VanEck says Bitcoin could hit .9 million per coin by 2050

Analysis

Bitcoin Layer-2s could be collectively worth around $7.6 trillion, the report added.

Investment manager VanEck foresees Bitcoin (BTC) potentially hitting $61 trillion in total market capitalization — or some $2.9 million per coin — in 2050 as a result of massive demand for the decentralized currency as collateral for trade settlement and a reserve for central banks, according to a July 24 report.

“It is conceivable that by 2050 Bitcoin could be used to settle 10% of the globe’s international trade and 5% of the world’s domestic trade,” VanEck said in the report. “This scenario would result in central banks holding 2.5% of their assets in BTC.”

VanEck adds that scaling solutions for Bitcoin’s blockchain network — Bitcoin Layer-2s — could collectively be worth approximately $7.6 trillion, or around 12% of BTC’s total value.

Ethereum Explodes With 10% Gain—Is Altcoin Season About to Ignite?

Spot Ether ETFs get NYSE Arca clearance, await SEC’s final authorization

July 22, 2024 Coin Telegraph

Coin Telegraph

The funds still await the SEC's approval of S-1 forms. Their launch in the United States is expected to take place on July 23.

The NYSE Arca has confirmed its approval to list and trade spot Ethereum exchange-traded funds (ETFs) from asset managers Grayscale and Bitwise.

According to documents filed with the United States Securities and Exchange Commission (SEC) on July 22, the exchange has certified “its approval for listing and registration of the common units” of Grayscale Ethereum Trust and Bitwise Ethereum ETF.

The funds are still pending the security regulator’s authorization to debut, and analysts anticipate a launch date of July 23.

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