MicroStrategy ETF, MSTX, has recently experienced a significant increase in trading volumes. It is driven by the increased volatility in the cryptocurrency and tech markets. Known for its heavy exposure to Bitcoin and tech stocks, MSTX has become a go-to choice for traders looking to capitalise on rapid market movements.
Investment advisors have significantly increased their holdings in Spot Bitcoin ETFs during the second quarter of 2024, while hedge fund investments have slightly declined, according to a recent Coinbase report. The proportion of institutional investment in Spot Bitcoin ETFs by investment advisors rose by 3% in Q2 2024. Investment advisors
Despite recent recovery efforts, the largest cryptocurrency, Bitcoin (BTC), seemingly extends losses in the market. Over the past 24 hours, the asset has struggled to clear the $60K level, and a low has formed near $57.5K. After a brief rebound, BTC is up by 1.42%, currently trading at $59,269, marking
Roman Sterlingov, the founder of Bitcoin Fog, a cryptocurrency mixer is challenging a potential 30-year prison sentence. It was followed by his conviction on multiple money laundering charges. In an August 15 filing with the U.S. District Court for the District of Columbia, Sterlingov’s legal team argued that the recommended
On August 15, 2024, the International Monetary Fund (IMF) recommended a major increase in electricity taxes for cryptocurrency miners and AI data centers to address their carbon footprint. The IMF’s proposal suggests raising the electricity cost for crypto miners by 85%. They propose a tax of $0.047 per kilowatt-hour, potentially
Bitcoin, the leading cryptocurrency, continues to struggle under bearish conditions, despite recent attempts at recovery. After briefly falling below $56,100, Bitcoin has rebounded slightly and is currently trading at $58,000, reflecting a modest decline. Notably, trading volume is up by 11%. And, over the past seven days, Bitcoin has experienced
Marathon Digital, a Bitcoin miner, has announced that it has spent $249 million in cash to acquire 4,144 Bitcoins. Within two days of the convertible notes being oversubscribed earlier this week, Bitcoin was purchased. The original purchasers had the opportunity to acquire an extra $50 million worth of notes within
According to Morgan Stanley’s 13F filing with the US SEC, the global investment and financial services giant disclosed a sizable holding in BlackRock’s spot Bitcoin exchange-traded fund on Wednesday. In the iShares Bitcoin Trust (ticker: IBIT), Morgan Stanley revealed holding over 5.5 million shares, or $187.79 million, as of June
The US Spot ETFs over the last few months have begun to witness declining activity. While the spot Ethereum ETFs are attempting to stage a revival, the spot Bitcoin ETFs have failed to do so. Meanwhile, the two cryptocurrencies have struggled to surpass their current price levels. According to Sosovalue
Bitcoin’s price fell nearly 6.85% to $57,733 on Thursday, driven by renewed concerns over potential token distributions from the defunct Mt. Gox exchange and increased capital outflows from major exchanges. This decline came despite positive signals from U.S. inflation and interest rate data, highlighting a growing risk-off sentiment in the
