As institutional capital is expected to flow into the Bitcoin ecosystem through exchange-traded funds (ETFs), companies and executives are reshaping their business strategies for 2024. Bitcoin mining company CleanSpark has revealed plans for an in-house trading desk, which will manage and trade its large Bitcoin holdings internally, rather than relying on external brokers or financial […]
Renowned Bitcoin advocate Cathie Wood’s investment firm is reportedly selling off its Coinbase holdings, with $30 million worth of COIN shares disposed of in recent days. This move has led to speculation that Wood is anticipating a “sell the news” event following the approval of a Bitcoin spot ETF, which she has been vocal in […]
Bitcoin and other major cryptocurrencies such as ethereum, XRP, and solana have surged into 2024 amid concerns over the future of U.S. dollar dominance. This comes after the bitcoin price rebounded last year following its 2022 crash, pushing the combined ethereum, XRP, solana, and crypto market back above $1.6 trillion for the first time since […]
A group of former Citigroup executives have launched a startup to offer Bitcoin-backed securities that they claim do not require approval from the US Securities and Exchange Commission (SEC). The startup, named “Receipts Depository Corporation (RDC),” aims to cater to the institutional demand for Bitcoin investments that may not be met by spot Bitcoin exchange-traded […]
Bitcoin (BTC) has started 2024 on a high note, recording a 3.18% gain in the first week of the year, as per data from CoinMarketCap. The leading cryptocurrency is anticipated to usher in a bullish crypto season, with many investors awaiting the immediate approval of Bitcoin spot ETF proposals by various asset managers.Despite the impending […]
Marathon Digital Holdings has made a significant mark in the cryptocurrency mining industry, setting a new record by mining 1,853 Bitcoin in December 2023. This achievement not only surpasses the company’s previous records but also sets a new high in the entire Bitcoin mining sector.The Florida-based company’s output in December represented a 56% increase over […]
Asset management firm VanEck has announced its commitment to donate 5% of the profits from its proposed spot Bitcoin ETF, if approved, to support core Bitcoin developers. A similar pledge has been made for Ethereum developers in relation to its Ether Futures ETF.This pledge demonstrates VanEck’s dedication to the larger Bitcoin ecosystem, with the firm […]
As the deadline for the United States Securities and Exchange Commission (SEC) to approve Bitcoin spot ETF (exchange-traded fund) approaches, approximately a dozen applicants have submitted 19b-4 amendment documents. This latest development involves 11 asset management firms, including BlackRock, Grayscale, Valkyrie, ARK 21shares, Hashdex, Biteise, Invesco Galaxy, Fidelity, VanEck, WisdomTree, and Franklin Templeton.These submissions are […]
Digital Currency Group (DCG), a venture capital firm, has announced the complete payoff of all its short-term loans from the now-defunct cryptocurrency lending platform Genesis. Despite the challenging conditions in the cryptocurrency market throughout the year, DCG managed to meet its loan obligations. The firm paid approximately $700 million of the nearly $1 billion it […]
The Securities and Exchange Commission (SEC) has been a significant topic of discussion in the crypto community in recent years, primarily due to its actions against various companies and projects. However, the agency is now anticipated to approve a spot Bitcoin ETF in the US, after a decade of rejecting all proposals.The new year brought […]
