BlackRock’s Bitcoin ETF, IBIT, is now one of the top 10 ETFs of all-time, at least when it comes to maintaining its streak of daily investment inflows.

As of Tuesday, April 23, IBIT has seen 70 days of inflows, meaning that the fund has seen a positive increase in its total holdings of the underlying asset, in this case spot Bitcoin. IBIT has yet to see a day of outflows, in which its holdings have declined.

This milestone comes after a series of US Spot Bitcoin ETF approvals earlier this year, which have proven to be hugely successful.

Since their launch, US Bitcoin ETFs have crossed an impressive $200 billion in total cumulative volume, demonstrating the high demand for Bitcoin among…

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Several Swiss-based Bitcoin enthusiasts are launching a renewed effort to persuade the Swiss National Bank (SNB) to include bitcoin in its reserves. This initiative, which commenced in October 2021, involves holding a referendum to amend the country’s constitution, but it requires more than 100,000 signatures from locals to move forward.

In an exclusive interview with BitcoinNews, Yves Bennaïm, founder and chairman of 2B4CH, a nonprofit think tank leading the charge, shed light on the endeavor and its implications.

Initiative Amid Regulatory Stability

Bennaïm addressed concerns over regulatory uncertainties surrounding Bitcoin, stating, “There are no “real…

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PayPal, in collaboration with Energy Web and DMG Blockchain Solutions, has unveiled a plan to promote sustainable Bitcoin mining. Revealed in an April 22 blog post by PayPal’s Blockchain Research Group (BRG), the initiative involves “cryptoeconomic incentives” to push miners towards low-carbon energy sources. Miners using sustainable methods would receive “green keys,” linked to their public keys, allowing them to access lower fees and exclusive Bitcoin rewards in a secure payout method. This innovative approach aims to encourage more eco-friendly practices in the mining sector and stimulate ongoing dialogue and advancements in Bitcoin sustainability.

The proposal also includes a certification process through the Energy Web’s “Green Proofs for Bitcoin” platform, where miners can register and validate their energy usage and environmental impact. This system was tested with DMG Blockchain Solutions Inc., monitoring transaction efficiency at varying volumes. By prioritizing transactions for these “green miners,” PayPal hopes to enhance the environmental profile of Bitcoin mining, while maintaining ease of implementation and a decentralized framework. The company is now seeking feedback from the industry to refine this environmentally forward solution.

Source

$1M – $10M MarketCap:

1. HanChain (HAN): 20%
2. dotmoovs (MOOV): 20%
3. Sinverse (SIN): 20%
4. Beoble (BBL): 15%
5. Based Shiba Inu (BSHIB): 14%

$10M – $100M MarketCap:

1. Space Falcon (FCON): 60%
2. Cryptex Finance (CTX): 32%
3. SNAP ($NAP): 30%
4. Foxy (FOXY): 27%
5. Aventus (AVT): 20%

$100M – $1B MarketCap:

1. Popcat (POPCAT): 32%
2. Heroes of Mavia (MAVIA): 23%
3. Automata (ATA): 21%
4. MVL (MVL): 17%
5. Zebec Network (ZBCN): 17%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Venezuela’s state-run oil company PDVSA is adopting the Tether (USDT) cryptocurrency to continue its oil exports despite facing renewed US sanctions that threaten to freeze its foreign bank accounts. The move reflects a broader trend of integrating cryptocurrency into global trade as traditional financial channels become restricted. The urgency for PDVSA to adapt was underscored by the US Treasury’s decision not to renew a general license that facilitated previous oil transactions, setting a firm deadline of May 31 for the company to wind down operations under current terms.

This shift to cryptocurrency began intensively last year but has accelerated with the recent imposition of sanctions. By the end of the first quarter, PDVSA had transitioned many spot oil deals to require prepayment in USDT, and is now also imposing this requirement on new and some existing customers. While this strategy offers a workaround to sanctions, it introduces challenges, notably the skepticism within the oil trade regarding the use of USDT due to compliance concerns. Transactions in USDT often require intermediaries, potentially reducing the proceeds that PDVSA can capture directly. Moreover, the traceability and compliance stance of Tether with US regulations add layers of complexity and risk to this new transaction method.

Reuters

BlackRock’s spot bitcoin ETF has achieved a significant milestone by securing a spot among the top 10 exchange-traded funds (ETFs) with the longest daily inflows, marking 70 consecutive days of gains. This places the ETF, identified by the ticker IBIT, alongside JETS—a fund focused on the airline industry—which previously held the tenth position alone, as noted by Bloomberg senior ETF analyst Eric Balchunas. His recent post on social media platform X highlighted that IBIT’s streak of inflows not only ties it with JETS but also underscores its positioning among the most successful ETFs in the market’s history.

On Monday, the IBIT recorded a net inflow of $20 million according to data from HODL15Capital, with a similar figure from SosoValue, demonstrating sustained investor interest. Additionally, BlackRock reported that the IBIT added over $600 million in assets under management (AUM) on the same day, boosting its total AUM to $18.16 billion, up from $17.55 billion at the close of the previous week. This growth is indicative of the strong market trust in BlackRock’s ability to manage digital asset investments effectively, particularly in a dynamic cryptocurrency landscape.

Twitter

Litecoin, a pioneering cryptocurrency since 2011, recently celebrated 12.5 years of uninterrupted uptime, a testament to its reliability and the robustness of its technology. Created by Charlie Lee to complement Bitcoin, akin to “silver” to Bitcoin’s “gold,” Litecoin has consistently shown resilience with no significant downtime. This milestone, highlighted by the official Litecoin X Twitter account, reinforces the network’s strength and the ongoing commitment of its developers. Notably, Litecoin underwent a crucial “halving” event in August 2023, cutting mining rewards from 12.5 LTC to 6.25 LTC per block to control inflation and sustain the mining ecosystem.

Further enhancing Litecoin’s stature in the crypto world, Coinbase Derivatives launched margined LTC futures this month, the first regulated by the CFTC. This introduction aligns with the network’s progressive stance as Litecoin evolves with the broader market. Data from IntoTheBlock shows over five million long-term holders, making up about 62.5% of all Litecoin addresses. This enduring trust in Litecoin, alongside significant investments like Grayscale’s Litecoin Trust, indicates a strong, growing confidence in cryptocurrencies akin to Bitcoin.

Twitter

OpenSats, a non-profit organization that supports the development of free and open-source software and projects focusing on Bitcoin, announced today that it has received a $1,000,000 donation from the Reynolds Foundation. 

OPENSATS RECEIVES $1,000,000 DONATION FROM REYNOLDS FOUNDATIONThe Reynolds Foundation is supporting OpenSats with a generous $1M donation, noting that they "warmly invite fellow philanthropists to join [them] in supporting this groundbreaking endeavor."https://t.co/NdcBcvc5rQ

— OpenSats (@OpenSats) April 22, 2024

“As new supporters of OpenSats, we are deeply appreciative of the opportunity to engage with a community that exemplifies transparency, professionalism,…

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