Bitwise Asset Management has announced its intention to acquire the Osprey Bitcoin Trust (OBTC) within the Bitcoin exchange-traded fund (ETF) market. This acquisition, revealed in a press release on Tuesday, will see Bitwise integrate Osprey’s $120 million in assets into its own Bitwise BTC ETF (BITB). As part of the
In August 2024, following substantial declines, Bitcoin and Ethereum entered a prolonged period of sideways oscillation. As the market needed new stimuli, meme coins once again became the focus of investors. In the past two weeks, the meme market has been exceptionally hot. Inspired by rags-to-riches stories, a large amount
Bitcoin millionaires surged by 111% in the past year, according to Henley & Partners’ 2024 Crypto Wealth Report. As of July 30, there are now 85,400 individuals holding over $1 million worth of Bitcoin, marking a significant increase from the previous year. This growth reflects the overall rise in crypto
BlackRock’s iShares Bitcoin Trust ETF (IBIT) has witnessed a significant surge in inflows, marking its highest daily net inflow in 35 days. On August 26, IBIT recorded a $224.1M net inflow as investors took advantage of BTC’s brief slip under $64K. This marks the most substantial inflow since July 22.
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Concerns about possible imminent interest rate reduction in September have led cryptocurrency investors to buy more crypto-related exchange-traded products (ETPs). On August 26, the cryptocurrency investment business CoinShares stated that digital asset investment products received $533 million in weekly inflows from August 18 to August 24. Inflows into exchange-traded funds
SwapKit.dev, a leader in cross-chain infrastructure, has integrated BitPay, a Bitcoin and cryptocurrency payment processor. This integration allows BitPay Wallet users to directly swap a wider range of cryptocurrencies within their wallets. The integration expands the capabilities of the BitPay Wallet, enabling users to swap a wide array of cryptocurrencies,
Hong Kong’s Securities and Futures Commission (SFC) has identified various shortcomings among crypto firms seeking full licenses. These findings emerged as the SFC intensified its scrutiny of virtual asset trading platforms under its new regulatory framework, which came into effect in 2024. The SFC recently revealed that some crypto entities
Tron [TRX] founder Justin Sun is once again in the spotlight, this time for his involvement with Wrapped Bitcoin (WBTC). Recently, Sun’s wallet, identified as “0xbe6,” withdrew 637 WBTC (valued at $40.8 million) from Binance on the Ethereum blockchain, just eight hours prior. This activity follows a custody deal with
Blockchain investment behemoth Digital Currency Group (DCG) has paid off all of its short-term debts as of June. This is according to a quarterly shareholder letter the business sent out this week. Thanks in large part to a stellar performance during the first half of the year, the firm was
