The launch of Ethereum exchange-traded funds (ETFs) on US stock exchanges this year was met with anticipation. However, the initial trading days left much to be desired. Despite the greenlight from the US Securities and Exchange Commission and substantial inflows on the first trading day, the following days saw significant outflows, particularly from Grayscale’s ETHE.
Crypto
Jan van Eck, the CEO of the investment management company VanEck, made headlines at the BTC Conference in the States by revealing that more than 30% of his portfolio is allocated to Bitcoin. This move is significant considering that VanEck is known for launching spot Bitcoin ETFs earlier this year, with the HODL ETF currently
Kennedy suggests that the federal government should invest in Bitcoin until its value matches that of the country’s gold reserves. The current US gold reserves are estimated at 8,133 tonnes, valued at approximately $615 billion. This proposed investment would translate to around 9.4 million BTC, which is almost 45% of the total Bitcoin supply. Kennedy
Over the past week, Ethereum experienced a significant price drop of over 10% despite the launch of several Ethereum ETFs. This unexpected turn of events has transformed the previously strong support level at $3,300 into a resistance level. If buyers fail to reclaim this level soon, there is a possibility that sellers may drive the
On Friday, July 26, a significant number of Bitcoin and Ethereum options contracts are set to expire, with a total notional value of approximately $6 billion. This expiry event is particularly noteworthy due to its size and the timing at the end of the month. The Bitcoin options contracts have a put/call ratio of 0.61,
In a remarkable turn of events, a Bitcoin mining device with a mere hashrate of 500 gigahashes per second (Gh/s) defied the odds and successfully mined a block on July 24. This feat is even more astonishing considering that the device, known as “Bitaxe,” has a slim 1 in 1.1 billion chance of achieving such
The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) has been ongoing for quite some time now. It officially entered its trial phase in April 2024, more than three years after the proceedings began. Both parties have been diligently presenting necessary information and documents while adhering to court rules. Despite
The second day of trading for the spot Ethereum ETFs took a negative turn as more than $133 million were withdrawn from the largest financial vehicles. This drastic outflow led to a significant drop in the underlying asset’s price, causing a 10% decline in just one day. This unexpected turn of events highlighted the initial
BitcoinOS (BOS) developers recently achieved a groundbreaking milestone in blockchain history by successfully verifying the first-ever zero-knowledge proof (ZKP) on the Bitcoin mainchain. This achievement signifies a major leap forward in the scalability and functionality of Bitcoin, without the need for changes to its underlying consensus code. This milestone, verified at Block 853626, marks the
Cynthia Lummis recently released a report criticizing the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. She argues that this tax could have severe repercussions on the growing Bitcoin mining industry in the United States. Lummis contends that the concerns about environmental pollution and risks to the energy grid, which
