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On a recent episode of the Coinage podcast, guest SEC Commissioner Hester Peirce said that she is open to reconsidering in-kind redemptions for spot bitcoin ETFs.
(For those who aren’t familiar with the term “in-kind redemption,” it refers to the ability to withdraw the bitcoin you’ve purchased via an ETF into your own custody. In essence, it turns a bitcoin IOU into the real thing.)
BREAKING: SEC Commissioner Hester Peirce previews…
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Sanctum, the Solana startup focused on growing the network’s liquid staking ecosystem, launched a new primitive today called creator coins.
Creator coins are essentially Solana liquid staking tokens that Sanctum issues while giving the yield to creators. Fans can earn loyalty points for holding creator coins, and creators can use those points to dole out perks. It’s a new spin on an old concept in crypto, but Sanctum thinks launching with more crypto-native creators can help it pick up adoption where others have failed.
Sanctum is a newer startup that came up through the Solana…
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Bitcoin’s price is down over 10% from its all-time high and its critics are taking victory laps this week as bitcoin has plummeted all the way back to… $97,000.
It is still practically almost $100,000 for a single bitcoin. It is crazy to me to think that the “dip” is back to just under that important milestone, and really shows how far this asset has come over the last 15, going on 16 years.
Year-to-date, bitcoin is up over 128%. And by historical trends, it is entering into its third year of rising in price before having a large correction. So this tells me that bitcoin isn’t done pumping yet, it’s just taking a breather before its next leg up.
#Bitcoin should continue pumping…
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When examining crypto stocks, chatting with a co-portfolio manager of the long-running blockchain-focused Amplify Transformational Data Sharing ETF (BLOK) makes for a good convo.
Dan Weiskopf told me he’s more optimistic about 2025 now than he was about this year at the end of 2023.
A main reason? The “crazy opportunity” for BLOK investors that’s set to come as more pure-play crypto companies go public.
Some expect stablecoin issuer Circle could be among the next to do so. Weiskopf also has his eye on Figure Technologies.
While a few more bitcoin miners could also…
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On December 20, 2024, the daily net flow of U.S. Bitcoin ETFs primarily showed notable outflows, suggesting a day of cautious trading or profit-taking among investors. BlackRock’s Bitcoin ETF (Ticker: IBIT) recorded no change in its holdings, maintaining a steady position despite broader market movements.
Fidelity’s Bitcoin ETF (Ticker: FBTC) experienced a significant net outflow, losing 2,162 BTC. Similarly, ARK’s Bitcoin ETF (Ticker: ARKB) saw a considerable decrease, shedding 1,123 BTC. Bitwise’s Bitcoin ETF (Ticker: BITB) and Invesco Galaxy’s (Ticker: BTCO) also faced outflows of 452 BTC and 146 BTC, respectively.
Grayscale’s GBTC (Ticker: GBTC) saw a decrease of 366 BTC, and Valkyrie’s (Ticker: BRRR) had a smaller outflow of 85 BTC. Grayscale’s BTC fund (Ticker: BTC), VanEck’s (Ticker: HODL), and Franklin Templeton’s (Ticker: EZBC) holdings remained stable with no net inflows or outflows reported.
Overall, the total holdings of these ETFs amounted to 1,136,140 BTC, with a net daily decrease of 4,334 BTC, valued at approximately $413.7 million. This reflects a cautious or bearish sentiment among investors on this particular day in the Bitcoin ETF market.
Disclaimer: Market capitalizations and data 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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