WHAT WE’RE READING: Blockspace Media
A recent Blockspace article deeply resonated with me as someone who’s lived in Asia and the West. It examined how Asia-based Bitcoiners are mostly profit maximalists, not philosophically driven Bitcoin maxis.
This rang true from my experience. When I meet Asian Bitcoiners, money and profit seem to be the primary motivators. Contrast that to Westerners, who often cite the cypherpunk, privacy, and political ideals behind…
Read more on BitcoinMagazine
Canary Capital has officially filed for a groundbreaking spot XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission, aiming to simplify crypto investments. This move, marking the second XRP ETF application this month, could transform how investors access the cryptocurrency market. The proposed ETF would allow investment in XRP through traditional brokerage accounts, eliminating many of the barriers and risks typically associated with direct crypto transactions.
According to Canary Capital, the ETF is designed to cater to growing investor demand for more diverse cryptocurrency options beyond the usual Bitcoin and Ethereum. “We’re observing a more progressive regulatory environment, which aligns perfectly with investor interest in sophisticated blockchain solutions like XRP,” stated Canary Capital founder Steven McClurg. His experience includes founding Valkyrie Funds, known for its crypto ETF offerings.
This filing comes shortly after Bitwise sought approval for a similar ETF, underscoring a trend towards broadening the crypto ETF landscape. Despite potential regulatory challenges from the SEC, particularly concerning XRP’s legal status, the approval of such ETFs could herald a significant shift in crypto investment strategies.
The world’s biggest Bitcoin event, the Bitcoin 2024 Conference, is kicking off today in Amsterdam. Following the massive conference in Miami earlier this year, Bitcoin leaders are converging in Europe for two days of discussions about the future of Bitcoin.
Bitcoin 2024 Amsterdam is expected to draw over 5,000 attendees who will hear from more than 150 speakers on October 9-10.
Headliners at the Amsterdam event include Jack Mallers, CEO of Strike, who will discuss “The Bitcoin Revolution.” Elizabeth Stark of Lightning Labs will also lead sessions.
Other featured speakers include Blockstream CEO Adam Back, German Parliament member Joana Cotar, and many other industry leaders. Cotar will…
Read more on BitcoinMagazine
Follow Nikolaus On X Here
When I first came onto the Bitcoin scene in 2017, I had changed my Twitter (now X) handle to “@nikcantmine.” (It was a joke I thought was funny at the time since I didn’t have the resources to mine BTC in high school.) But today, I officially became “nik CAN mine”.
The other week I got gifted a Bitaxe, a fully open source (and very small) bitcoin miner, while attending the Human Rights Foundation’s Bitcoin Summit in Nashville. It’s a pretty neat device that allows you to connect to a mining pool or solo mine on your own.
nik CAN mine…
Read more on BitcoinMagazine
As of October 8, 2024, the U.S. Bitcoin ETFs reported a substantial net inflow totaling 3,428 BTC, bringing the combined holdings to 924,530 BTC. BlackRock’s IBIT ETF saw the most significant increase, adding 1,548 BTC to its holdings, which now stand at 368,958 BTC. This was closely followed by Fidelity’s FBTC ETF, which gained 1,639 BTC, raising its total to 179,565 BTC.
Other ETFs also reported gains, with ARK Invest’s ARKB ETF receiving an additional 200 BTC, totaling 47,504 BTC. Bitwise’s BITB ETF added 207 BTC to its holdings, reaching 39,206 BTC. VanEck’s HODL ETF increased by 85 BTC, bringing its holdings to 11,822 BTC.
However, not all ETFs experienced inflows; Grayscale’s GBTC ETF saw a reduction of 250 BTC, bringing its total down to 220,356 BTC. Grayscale’s BTC ETF slightly decreased by 1 BTC, ending the day with 33,751 BTC. Valkyrie’s BRRR, Invesco’s BTCO, and Franklin Templeton’s EZBC ETFs saw no changes in their holdings.
The day’s activities contributed to a total value increase of approximately $213.3 million, emphasizing robust investor interest and dynamic capital movement within 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.
Join CryptoCrunchApp on Telegram Channels – Click to Join