Why BlackRock Bitcoin holdings increased as prices dropped
Why BlackRock Bitcoin holdings increased as prices droppedWhen ETF shares are sold it does not necessarily lead to a decline in AUM if those shares are not redeemed by APs.
Happy Friday!The global crypto market cap is $1.61 trillion, with a 24-hour volume of $53.35 billion. The price of Bitcoin is $41,720.46, and BTC market dominance is 50.8%. The price of Ethereum is $2,269.63, and ETH market dominance is 16.9%. The best-performing sector is Art, which gained 22%. The Crypto Fear & Greed Index is currently Neutral (49). Top News
Why BlackRock Bitcoin holdings increased as prices droppedWhen ETF shares are sold it does not necessarily lead to a decline in AUM if those shares are not redeemed by APs. U.S. plans to sell $130 million of Bitcoin seized in connection with Silk RoadThe U.S. government previously seized the funds from a Xanax seller and a former U.S. agent. Bitcoin developer Luke Dashjr raises concerns over centralization in Bitcoin miningDashjr believes that the dominance of a few large mining pools poses a serious threat to the decentralized nature of Bitcoin. Latest Insights
More NewsStrike CEO calls Ethereum ‘tech play,’ says Bitcoin solves the ‘biggest financial problem’ of our timeAccording to Mallers, Bitcoin is "the only innovation" that can solve the "central banking problem" and serve as a global reserve currency. Grayscale selling pressure ‘largely behind us,’ spotlight on Newborn Nine: JP MorganThe banking giant analysts also speculated that the newly launched ETFs will play a prominent role in BTC price discovery. Bitcoin’s realized price by ‘young supply’ underpins recent price supportYoung supply's cost basis created support for Bitcoin's price in a tumultuous market. Crypto saw 62 million acquired users across eight chains in 2023: Flipside reportFlipside Crypto also forecasts increased multi-chain interactions and Layer 2 engagements in the 2024 DeFi landscape. Celsius billion-dollar Ethereum shift stirs speculation on creditor payback plansThe embattled firm creditors are eagerly anticipating the repayment of their stuck assets on the platform.
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