Transaction URL: https://blockchain.com/btc/tx/2f5676d7dbee047d4d3ade63eb714c1c85470e118fb770307edfc4974331f817
- Crunch
- Global
At its peak, Mt. Gox handled over 70% of the world’s bitcoin transactions, and 80-90% of all bitcoin trading volume. The exchange collapsed in 2014 after losing 850,000 BTC, worth hundreds of millions of dollars at the time. It was an event that marked one of the darkest chapters in blockchain history and shattered trust in the nascent cryptocurrency market.I would argue, however, that the lessons learned from its failure have done more good than harm in the decade since. In fact, the destruction of Mt. Gox was instrumental in shaping our industry’s future.
The collapse was an inflection point that exposed critical flaws in security infrastructure, prompting many of the necessary…
Read more on Blockworks
This past Saturday, former president Donald Trump addressed the Bitcoin 2024 conference in Nashville, Tennessee, expounding upon the crypto and bitcoin policies likely to be implemented as part of a likely future Trump administration. Speaking in front of a banner emblazoned with the logo of Xapo bank, an institution which hopes to serve as a global bridge between bitcoin, the U.S. dollar and stablecoins, Trump’s speech revealed a policy vision that would integrate those three in order to “extend the dominance of the U.S. dollar to new frontiers all around the world.”
Talk of a threatened dollar has been circulating for years, with the petrodollar system now having ended and…
Read more on BitcoinMagazine
As of July 29, 2024, notable movements have been observed in the U.S. Bitcoin ETF market, showcasing dynamic investor activities. Leading the pack, BlackRock’s IBIT ETF reported an impressive net inflow of 341 BTC, indicating robust investor confidence and a total holding of 338,470 BTC.
On the flip side, Grayscale’s GBTC experienced a significant outflow, shedding 623 BTC from its holdings, now standing at 270,589 BTC, suggesting a shift in investor sentiment or strategic rebalancing.
Fidelity’s FBTC ETF also saw positive movement with an addition of 66 BTC, bringing its total to 181,127 BTC. Additionally, Bitwise’s BITB gained 463 BTC, and Invesco Galaxy’s BTCO added 354 BTC to their holdings.
Other notable funds like ARK Invest’s ARKB and VanEck’s HODL reported no changes in their positions, indicating stability in their respective strategies.
Overall, the total net inflow for the day across all listed U.S. Bitcoin ETFs was 601 BTC, translating into a market valuation increase of approximately $41.2 million, marking a significant day of trading and investment in the cryptocurrency space.
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
21Shares US LLC has partnered with Chainlink to integrate its Proof of Reserve system into the 21Shares Core Ethereum ETF (CETH), which is physically backed by Ether. This collaboration enhances transparency by providing real-time data on Ethereum reserves, ensuring that CETH is fully backed by actual holdings. Chainlink’s trusted technology supports over $12 trillion in on-chain markets, reinforcing investor confidence in CETH’s integrity.
The utilization of Chainlink’s decentralized computing platform by 21Shares marks a significant step in bridging traditional finance with decentralized finance. According to 21Shares, this move is aligned with their mission to enhance transparency across digital asset investments, already proven successful with their Bitcoin reserves in the ARK 21Shares Bitcoin ETF.
The integration announcement follows the recent U.S. approval of a spot Ethereum ETF, signaling growing acceptance and momentum for cryptocurrencies. With over $1 billion in net inflows into eight new Ethereum ETFs, despite market fluctuations, 21Shares and Chainlink are at the forefront of promoting secure and transparent digital asset investments.
Though investors exiting the Grayscale Ethereum Trust (ETHE) hurt the US spot ETH ETF market’s initial net flows figure, four of the funds saw solid traction.
The nine ETFs collectively posted net outflows of $342 million in their first four trading days (July 23-26), according to Farside Investors data.
Sizable inflows into products by BlackRock, Bitwise and Fidelity could not make up for the $1.5 billion leaving higher-priced (2.5%) ETHE. Those outflows roughly match those endured by the Grayscale Bitcoin Trust (GBTC) during the product’s first four days as an ETF.
Read more: Nomura’s crypto unit to offer yield-bearing ETH fund: Report
BlackRock’s iShares Ethereum Trust…
Read more on Blockworks