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

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

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Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

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

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.

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Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Price analysis 7/24: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Coin Telegraph
Price analysis 7/24: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Avalanche

Bitcoin bulls are trying to protect the $65,500 level, but if they fail, a drop to $62,000 is possible.

Crypto exchange Kraken said in a July 24 X post that it had distributed all the funds to the Mt. Gox creditors. However, that has not boosted Bitcoin’s (BTC) volatility, suggesting that the recipients of the repayments are not rushing to book profits as anticipated by a few analysts.

Similarly, the launch of spot Ether (ETH) exchange-traded funds (ETFs) failed to start any fireworks in Ether, suggesting that the markets are in a wait-and-watch mode. A minor positive is that the Ether ETFs witnessed net inflows of $106.6 million on the first day, even after $485 million in outflows from Grayscale’s freshly converted Ethereum Trust.

Bitcoin and select major altcoins have been consolidating for some time, indicating indecision between the bulls and the bears about the next directional move. The longer the range, the stronger the trigger needed for the price to break out from it.

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Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Bitcoin Continues to Dominate as Altcoin Season Index Score Plummets

Bitcoin.com
Bitcoin Continues to Dominate as Altcoin Season Index Score Plummets
altcoin season
Bitcoin Continues to Dominate as Altcoin Season Index Score PlummetsIn mid-July, the Altcoin Season Index (ASI) available on blockchaincenter.net began to rise, reaching a high of 46 and nearing the significant threshold of 75. Since then, however, the ASI score has dropped to 24, indicating that a period of increased gains for alternative cryptocurrencies is now more distant. Bitcoin Outperforms Altcoins as ASI Score […]
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Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Price analysis 7/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

Coin Telegraph
Price analysis 7/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA
Bitcoin

Digital investment products are witnessing solid buying, but it may take a stronger trigger to propel Bitcoin to a new all-time high.

The S&P 500 Index (SPX) plunged about 2% last week, but the weakness in the equity markets could not dampen the enthusiasm of the cryptocurrency traders. Bitcoin (BTC) made a strong comeback, rising roughly 12% for the week.

According to CoinShares da, digital asset investment products witnessed strong inflows of $1.35 billion last week, taking the total inflows in the past three weeks to $3.2 billion. Bitcoin’s strength also resulted in outflows of $1.9 million from short-Bitcoin exchange-traded products.

Even after the recent rally, Bitcoin remains stuck inside a sideways price action. As the price nears the resistance, the bears are likely to pose a strong challenge. However, analysts are optimistic about Bitcoin hitting a new all-time high.

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Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

Web3 Game Studio Qooverse Secures Investment in Round Led by Paper Ventures

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