Bitcoin Surpasses $47K; SEC's ETF Approval Looms; $151M Crypto Fund Influx; Mysterious Blockchain Inscription and more news...
GLOBAL NEWS?
Bitcoin Breaks $47,000 Amidst Anticipation of First Spot Bitcoin ETF Approval
Bitcoin's value went past $47,000, fueled by the burgeoning anticipation of the first spot bitcoin ETF's approval. This significant increase in 24 hours aligns with a revitalized interest in cryptocurrency markets and predictions of substantial new inflows in 2024.
SEC Poised to Greenlight Spot Bitcoin ETFs, Potential $50-100B Influx Forecasted
In a move paralleling the impact of gold ETFs, the SEC's expected approval of spot bitcoin ETFs could usher in a staggering $50-100 billion in inflows this year, mirroring the transformative effect of the pioneering gold ETF, SPDR Gold Shares. Analysts at Standard Chartered Bank project a significant market shift, drawing analogies with the gold market's evolution post-GLD launch and anticipating a substantial rise in bitcoin's value by 2025.
2024 Kicks Off with $151M Inflows into Crypto Funds
The first week of 2024 marked a robust start for crypto funds, with a notable $151 million in inflows reported by asset managers like CoinShares, Bitwise, and Grayscale. Dominating this surge, Bitcoin-based funds added $113 million, aligning with the heightened anticipation of a U.S. spot Bitcoin ETF approval. Meanwhile, blockchain equities gained momentum with $24 million in inflows, highlighting a growing investor confidence in the crypto market as Bitcoin's price hovers around the $47,000 mark.
Mystery Wallet Inscribes 9MB of Encrypted Data on Bitcoin Blockchain
An anonymous entity has sparked intrigue in the crypto community by inscribing nearly 9 megabytes of encrypted data onto the Bitcoin blockchain through 332 transactions. Valued at about $66,000, these transactions, some costing thousands of dollars, remain shrouded in mystery as the encrypted content is unreadable. This unusual activity has prompted a flurry of speculation and humor among Ordinals explorer Ord.io users, as the crypto world ponders the purpose behind this enigmatic undertaking.
领英推è
Bitcoin Spending Options Triple in a Year: Over 6,300 Vendors Worldwide?
The landscape for spending Bitcoin in real life is expanding rapidly, with BTC Map's latest data revealing a significant surge in adoption: over 6,300 vendors globally accepted Bitcoin in the past year, nearly tripling from 2,200 at the end of 2022. This growth highlights an increasing trend in Bitcoin usage despite its price volatility. However, consumers should be mindful of the potential value fluctuations when using Bitcoin for everyday purchases. Europe, the United States, and Latin America lead in vendor numbers, while East Asia shows slower adoption, notably with China's absence due to its cryptocurrency ban.
Digital Currency Group Clears $1 Billion Debt, Fully Repays Genesis Loans
Digital Currency Group (DCG) announces the complete repayment of over $1 billion in debt, including nearly $700 million to Genesis. This achievement, accomplished in just over a year, signals a robust recovery and commitment to industry growth. DCG's CEO Barry Silbert expresses optimism about the future, highlighting the firm's resilience amidst industry challenges and its dedication to leading the next phase of the digital currency sector.
Crypto Funds See Major Rebound in 2023, Securing $2.2 Billion in Inflows
Crypto funds at asset management giants like CoinShares and Grayscale experienced a remarkable revival in 2023, drawing in $2.2 billion in inflows, a significant leap from the previous year. Dominated by bitcoin investment products, this surge marked the third-highest annual inflow since 2017. Despite falling short of the highs in 2021 and 2020, the substantial recovery in the final quarter signals growing investor confidence, largely fueled by anticipation of the SEC's nod to bitcoin spot-based ETFs in the U.S.
RAIN NEWS?
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Spotlight article:
Bitcoin ETFs: The Bear Case