- Crunch
- Global
As of September 26, 2024, the daily net flow of U.S. Bitcoin ETFs revealed a total net inflow of 1,706 BTC, increasing the overall holdings to 913,176 BTC. BlackRock’s IBIT ETF led the inflows with a significant addition of 2,913 BTC, boosting its total to 362,193 BTC. This was the most substantial increase among all ETFs for the day.
In contrast, Fidelity’s FBTC ETF experienced a significant outflow, losing 524 BTC and reducing its holdings to 177,198 BTC. ARK Invest’s ARKB ETF also reported a sizable decrease of 749 BTC, bringing its total holdings to 45,856 BTC.
Meanwhile, Bitwise’s BITB ETF showed a modest inflow of 32 BTC, now holding 38,618 BTC, and Grayscale’s BTC ETF added 44 BTC, reaching a total of 33,709 BTC. Valkyrie’s BRRR ETF experienced a minor outflow of 1 BTC.
Other ETFs such as VanEck’s HODL, Invesco’s BTCO, and Franklin Templeton’s EZBC remained unchanged. The total net inflow valued at approximately $111.5 million indicates a growing interest and investment in Bitcoin ETFs, despite some fluctuations across individual funds.
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
If we claim to be an improvement on traditional finance, we had better start playing the part. It’s clear how Bitcoin fixes rampant monetary discretion. It’s clear, too, how Bitcoin changes your relationship with money—both financially because you’re more inclined to save an appreciating asset—as well as physically because you can do novel things like hold the GDP of a small island nation on a USB. There is one thing, however, that is slowly gaining acceptance and needs to be accepted if we are to truly improve on the mistakes of the past, and that’s Proof of Reserves.
Bitcoin has unique audit properties baked into the system itself. Bitcoin allows any third party to audit…
Read more on BitcoinMagazine
Crypto markets are giving hints of altcoin season. But we’re not there yet.
The total crypto market cap has jumped almost 20% since earlier this month, swelling by over $360 billion to $2.35 trillion. Altcoins are responsible for about 40% of those gains, with the rest coming from bitcoin.
But first, let’s define altcoin season.
One sometimes-cited index says an altcoin season starts when three-quarters of the top 50 coins have performed better than bitcoin over the past 90 days.
Only 34% of the top 50 have beaten bitcoin across that period. There was a very brief period at the start of the year where those conditions were met but it didn’t pan out into a full-blown altcoin…
Read more on Blockworks
Dubai’s Virtual Assets Regulatory Authority (VARA) has introduced stricter marketing guidelines to enhance transparency in cryptocurrency investments. Starting October 1, every firm marketing virtual assets within the UAE must prominently display a disclaimer warning potential investors about the inherent risks and possible extreme volatility of these investments.
VARA Chief Executive Officer Matthew White emphasized the commitment to responsible service delivery by virtual asset service providers (VASPs). He noted that these updated regulations aim to cultivate trust and transparency, mirroring regulatory efforts seen in countries like Belgium and Singapore.
In addition to the risk disclaimers, the new rules also stipulate that firms must obtain compliance confirmation from VARA when offering incentives. This measure ensures that promotions do not mislead investors about the risks associated with virtual assets.
Saudi Arabia has been recognized as the fastest-growing crypto economy in the Middle East and North Africa (MENA) for the second year in a row. With an impressive 154% year-over-year growth rate, the Kingdom has outpaced other regional leaders, including the UAE. The country’s rapid expansion in the crypto space is attributed to its youthful population, with 63% of citizens under 30, making them more open to adopting new financial technologies.
Unlike other countries in the region, Saudi Arabia and Qatar’s crypto activities are primarily driven by decentralized finance (DeFi) platforms, partly due to limited regulations for virtual asset service providers (VASPs). This unique approach has allowed the decentralized sector to thrive.
Institutional and professional investors lead crypto activity in MENA, with over 93% of transactions exceeding $10,000. Despite this, the region’s total on-chain value of $338.7 billion represents just 7.5% of the global market, highlighting Saudi Arabia’s growing influence in this evolving sector.
Visa has unveiled a pioneering product, the Visa Tokenized Asset Platform (VTAP), designed to facilitate banks in issuing fiat-backed tokens via the Ethereum network. This innovation is set to streamline and digitize processes, enabling the trading of real-world assets like commodities and bonds with enhanced efficiency. VTAP leverages smart contracts to automate these exchanges, ensuring near-real-time settlement of transactions.
The platform marks a significant expansion of Visa’s footprint in the digital assets space, building on its previous forays, such as processing cryptocurrency payments. By integrating traditional banking transactions with blockchain technology, Visa aims to bridge the gap between fiat currencies and digital assets, offering a robust solution for tokenized asset exchanges.
Among the early adopters, Spanish banking giant BBVA plans to launch a live pilot by 2025. This move by Visa and BBVA underscores the growing confidence in blockchain’s potential to revolutionize financial transactions, enhancing the speed and security of asset exchanges across global markets.
PayPal Holdings, Inc. (NASDAQ: PYPL) is taking a bold step by allowing its U.S. merchants to buy, hold, and sell cryptocurrency directly from their PayPal business accounts. This exciting feature, available to millions of merchants across the U.S. (except New York State), enhances crypto’s real-world utility, empowering businesses to seamlessly engage with digital currencies.
According to Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal, merchants have shown strong interest in accessing cryptocurrency capabilities. This move demonstrates PayPal’s commitment to meeting that demand, making it easier for business owners to transact in digital assets.
PayPal’s journey into crypto has been impressive. From introducing crypto transactions for consumers in 2020 to launching PayPal USD (PYUSD) and now enabling crypto transfers to third-party wallets, PayPal continues to pave the way for cryptocurrency adoption. With recent integration on the Solana blockchain, merchants now have more flexibility and control in their crypto operations.