Following Hong Kong’s authorization of the region’s first spot bitcoin and ethereum exchange-traded funds (ETFs), Bloomberg’s senior ETF analyst Eric Balchunas shared his insights on social media about the new additions. Although there were anticipations of notable capital inflows into the Hong Kong ETFs, Balchunas mentioned that while it’s a positive step forward, he emphasized […]
Bitcoin News
Ark Invest Shifts Portfolio, Swaps Coinbase and Robinhood for Newly IPO’d Reddit Shares
On Thursday, Ark Invest parted ways with 133,533 Coinbase shares from its Ark Innovation exchange-traded fund (ARKK) and also disposed of 96,003 Robinhood shares from the ARKW ETF. Following these divestments, Ark Invest acquired Reddit shares for both the ARKW and ARKF ETFs. Ark’s Portfolio Pivot: COIN, HOOD Out, RDDT In This week, Cathie Wood‘s […]
Bitcoin News
9 Newly Launched Spot Bitcoin ETFs Accumulate BTC Holdings Worth Nearly $6 Billion
Current data reveals that Blackrock’s IBIT spot bitcoin exchange-traded fund (ETF) currently possesses 52,025.76 bitcoin, with a total value of .18 billion. Furthermore, Fidelity’s FBTC has increased its bitcoin holdings, now standing at 46,238.09 bitcoin as of Jan. 29, 2024.
Blackrock Snags 52,025 Bitcoin, While Fidelity Now Holds 46,238
Several of the nine new spot bitcoin ETFs have amassed even more bitcoin, as indicated by their recent company statements. Excluding Grayscale’s GBTC, Blackrock’s IBIT takes the lead as the largest spot BTC ETF in terms of bitcoin holdings. On Jan. 29, the web portal displayed that the fund holds 52,025.76 BTC. Fidelity has also bolstered its FBTC holdings, rising from 43,855.14 BTC on January 26 to the current 46,238.09 BTC.
The third-largest spot bitcoin ETF, Ark Invest’s 21shares fund, known as ARKB, holds a substantial 14,390 BTC. Following closely is Bitwise ETF BITB, which now possesses 13,576.10 bitcoin, as reported by onchain data. The Invesco Galaxy ETF boasts an estimated 6,833 BTC, but estimates are solely based on the web portal’s assets under management (AUM) statistics. Vaneck’s HODL ETF holds 2,885.46 BTC, while Valkyrie’s BRRR ETF currently has 2,635.28 BTC in its possession.
Franklin Templeton’s EZBC bitcoin reserve stands at 1,363 BTC, and Wisdomtree’s BTCW ETF holds a reserve of 201 BTC. When considering all nine spot BTC ETFs, excluding GBTC, these funds collectively hold 139,247.69 bitcoin, estimated at a total value of .98 billion using prevailing BTC exchange rates. Meanwhile, data from GBTC’s website on Jan. 29, 2024, indicates that Grayscale’s Bitcoin Trust holds 502,712.60 BTC, worth an estimated .10 billion.
Comparing the size of the newly acquired BTC by the nine ETFs to GBTC’s current holdings, these combined holdings represent 27.69% of GBTC’s existing bitcoin reserves. At present, Grayscale’s GBTC holdings are 3.53 times more valuable than the reserves held by the nine recently introduced spot bitcoin ETFs.
What do you think about the accumulation from the nine newly introduced spot bitcoin ETFs? Share your thoughts and opinions about this subject in the comments section below.
9 Newly Launched Bitcoin ETFs Amass 132,170 BTC With Blackrock and Fidelity Commanding 70% of Total Holdings
At 10:30 a.m. Eastern Time (ET) on Friday, Grayscale’s GBTC reported a decrease of 10,871.56 bitcoin from its holdings compared to Thursday. In contrast, since its inception on Jan. 11, 2024, Blackrock’s IBIT has accumulated a total of 49,952.32 bitcoin worth .98 billion.
Grayscale’s GBTC Sees Significant Bitcoin Outflow as Blackrock’s IBIT and Other ETFs Gain Momentum
In the last 24 hours, GBTC has seen another significant outflow of bitcoin, with a tranched of 10,871.56 bitcoin, valued at 9 million, departing from its reserves. As of Thursday, Grayscale’s bitcoin trust held a total of 523,516.43 BTC, but as of today, this amount has decreased to 512,644.87 BTC. This signifies that a substantial sum of 104,435.12 BTC, amounting to .3 billion, has been withdrawn from Grayscale’s trust since Jan. 12, 2024.
Blackrock has experienced yet another boost, with its holdings now reaching 49,952.32 BTC, valued at .98 billion. Since Thursday, Blackrock’s IBIT has seen an increase of 4,284.24 BTC. According to a recent report from Fidelity, its spot bitcoin exchange-traded fund (ETF) FBTC currently possesses 43,855.14 BTC, worth .74 billion. The Ark Invest 21shares ETF’s holdings amount to 13,285 BTC, valued at 9 million, while Bitwise’s BITB now boasts a balance of 12,840.05 BTC.
Vaneck’s HODL ETF maintains its previous count of 2,772.33 BTC as of the latest update. Similarly, Franklin Templeton’s EZBC bitcoin reserve remains at 1,334 BTC, and Invesco’s figure also stays constant at 6,339 BTC, as estimated from BTCO’s assets under management (AUM). Valkyrie’s BRRR ETF has shown an uptick since Thursday, now holding 2,592.75 BTC. Wisdomtree’s BTCW ETF continues to hold 201 BTC, indicating no change in its holdings since yesterday.
This trend indicates that while GBTC saw an exodus of 104,435.12 BTC, valued at .3 billion, the nine newly launched spot bitcoin ETFs have collectively acquired 132,170.59 BTC since they began trading. At current exchange rates, these nine ETFs hold a combined value of .46 billion. Blackrock and Fidelity together represent a significant 70.97% of the nine ETFs’ collective holdings. Furthermore, the total assets of these nine ETFs amount to 25.78% of the size of Grayscale’s GBTC holdings as of Friday.
What do you think about the latest GBTC outflow and the accumulation from other ETFs? Share your thoughts and opinions about this subject in the comments section below.
Mawson Infrastructure Group Deploys 2,600 Bitcoin Miners at Newly Secured Pennsylvania Site
Mawson Infrastructure Group, a publicly-listed bitcoin mining operation, announced on Thursday that it has acquired a new mining site in Bellefonte, Pennsylvania. The company detailed that it has swiftly deployed 2,600 bitcoin miners at the location.
Mawson Secures Pennsylvania Site, Deploys 2,600 Bitcoin Miners for Self-Mining Operations
Bitcoin mining companies are experiencing ongoing expansion in 2023. This week, Mawson Infrastructure Group (NASDAQ: MIGI) disclosed the acquisition of a new mining site in Bellefonte, Pennsylvania. Mawson has already initiated mining operations in Pennsylvania, having announced the commencement of construction at a new site in Sharon in February. On Thursday, Mawson revealed the signing of a new long-term lease agreement for the recent undertaking in Bellefonte.
At present, the Bellefonte facility is powered by 8 megawatts (MW) of electricity, with 2,600 miners already operational. The newly launched location will function as a fully self-mining facility, with a potential capacity of up to 24 MW. Mawson revealed that upon the completion of the expansion, the new data center will be able to accommodate 7,200 bitcoin mining machines.
“This facility is an ideal opportunity for Mawson to continue to efficiently ramp our self-mining operations to increase bitcoin production,” Mawson’s CEO and president Rahul Mewawalla stated on Thursday. “This new site furthers Mawson’s focus on growth in markets where the energy mix, secure grid, favorable climate, robust communities, and local talent continue to be key drivers of our continued expansion.”
Shares of MIGI rose 1.96% on Thursday; however, they have declined by 20% over the past month. The six-month price statistics indicate a decrease of more than 7%, while the stock has experienced a significant decline of 69% over the past 12 months. In 2023, Bitcoin’s hashrate reached new heights, thanks to the introduction of more efficient mining rigs, the launch of numerous next-generation miners by various firms, and the expansion of companies into new territories. In May, Mawson announced its expansion to Corning, Ohio, which added an additional 1 exahash per second (EH/s) to its mining fleet.
What are your thoughts on Mawson Infrastructure Group’s expansion? Share your thoughts and opinions about this subject in the comments section below.
Shiba Inu: How This Newly Found Support Will Boost SHIB Price This Week
Shiba Inu, a meme crypto like the Dogecoin, was the fastest growing digital coin of 2021. The rate at which the asset grew was mind blowing, especially after it recorded a 46,000,000% price increase.
- Shiba Inu’s trading price is now its resistance marker
- SHIB token now priced at .00001118
- The meme crypto is forecasted to end 2022 with a price of .00001501
Shiba Inu, a meme crypto like the Dogecoin, was the fastest growing digital coin of 2021. The rate at which the asset grew was mind blowing, especially after it recorded a 46,000,000% price increase.
It attracted a lot of investors and is recognized as one of the reasons a huge percentage of cryptocurrency investors found their way to the market.
It was such a hit back then that it made initial investors that were holding worth of SHIB super rich.
But fast forward to the present, the token is already at a point when some are considering that its era has already ended and crypto experts are not seeing any window for the coin to rise once again.
SHIB is currently changing hands at .00001118 according to Coingecko at press time. It already lost 87% of its all-time high value achieved on October 28, 2021.
It has been on a steady decline for the past five months.
Shiba Inu: Breaking Through Resistance
Due to its slump and bearish activity, SHIB turned its support range of .00001118 into its new resistance mark.
This meant that for the time being, the token’s price won’t see any upward movement, unless it breaks through the resistance.
Sellers are already at play in the market, initiating the pull towards .0000103. If they become successful, Shiba Inu could be facing another immediate decline although it is expected to make a recovery rally soon after.
There was a buying spree from June to August this year courtesy of the SHIBArmy. However, the gains the token got from that activity were trimmed by the sellers that entered and pull the price down once again.
SHIB Seen Rising By End Of 2022
Despite suffering for five months now, all is not lost for the meme token as price predictions for the end of 2022 and the year 2023 point at an eventual price increase.
Source: Santiment
Shiba Inu is in the midst of a metaverse platform deal that is expected to propel token price to .00001501 by the end of this year. The lowest price of SHIB at this point is expected to be .00001307.
Ever since about the middle of September, SHIB’s social influence has been steadily dwindling. Instead, it showed a tiny increase in price. Despite the traction, this reading reflected the SHIBArmy’s assurance.
Meanwhile, an end to the 2022 bear market by the early part of next year will put the crytpocurrency in a better position.
SHIB is forecasted to trade at a maximum value of .00002271 in 2023.
SHIB market cap at .4 billion | Featured image from Paper Writer, Chart: TradingView.com
NewsBTC
Newly Discovered Monero (XMR) Glitch Will Negatively Affect Transaction’s Privacy
The developers of Monero (XMR) recently discovered a bug capable of exposing transactions of its users. Even though the team is working to fix it, they have announced that users’ privacy is at risk as long as the bug remains. The Monero team made this announcement through their official Twitter account.
They called it a “significant bug,” which they claim to have discovered in the crypto’s “decoy selection algorithm” This algorithm is a system that the network uses to hide output transactions within 10 decoys.
A Brief About The Bug History
The developer who discovered this bug was Justin Berman, a software developer. He noticed that the bug makes it easier for output transactions to become visible as real spend among the 10 decoys. Once the user spends money after a lock time in the first 2 blocks or spends money after receiving money, the transaction will be visible.
Related Reading | American Banks Encouraged To Partner with Cryptocurrency Firms
When Justin discovered the bug, he stated that there is no risk of exposure for addresses and transaction amounts. However, it will enable users to know when a transaction occurs on the crypto. According to the developers’ statements, the bug won’t facilitate the stealing of funds, but it has remained in the wallet code.
Another Monero (XMR) contributor mentioned on Reddit that the Monero bug impacts past transactions. So, Monerao developers recommend that its users should wait for one hour or more after receiving XMR before spending it.
Monero (XMR) follows an uptrend on the daily chart as crypto market floats in the green zone | Source: XMRUSD on TradingView.com
That way, they can protect their privacy pending when there will be a wallet software update to reduce the privacy risks. Also, the developers assured the community that they don’t need to carry out a hard fork or full-scale network upgrade to tackle the bug.
Monero (XMR) Network
The Monero network joined the industry in 2014. It is a crypto that focuses more on the privacy of its users. Monero’s goal is to provide a system where crypto users can complete private transactions that no one can trace. The network uses unique cryptography to keep transactions 100% unlinkable and untrackable.
The crypto maintains a significant rank in the crypto industry based on its Market Cap and has been the largest amongst privacy-centered digital currencies. At press time, the XRM price stands at 3. This price represents a 4% gain in 24 hours of trading based on TradingView data.
Related Reading | Vitalik Buterin Urges Ethereum To Grow Beyond DApps
Before now, our sources have mentioned that many financial regulators’ eyes are on Monero. These agencies have done several things to break the privacy that characterizes their transactions.
For instance, in 2020, the Internal Revenue Service of the United States announced a 5,000 award for any person who can crack the transactions occurring on Monero and also on Bitcoin’s Lightning Network, another privacy-centric network.
Featured image from Business Insider, chart from TradingView.com
NewsBTC
Here’s the Newly Formed CME Gap Bitcoin May Soon Move to Fill
Bitcoin’s technical outlook has greatly improved throughout the past few days, with bulls’ ability to push the cryptocurrency off of its ,600 lows and past its ,200 resistance providing its market structure with a serious boost.
Where it trends next will likely depend on its reaction to its next key resistance level at ,600. The resistance here is quite significant and could cause it to see notable losses if bulls cannot surmount it.
It is important to keep in mind that the cryptocurrency’s current momentum is rooted in bullish news developments surrounding Square’s decision to buy million worth of BTC to hold as a reserve asset.
Many investors believe that more companies will follow suit, creating a sell-side liquidity crisis that potentially drives Bitcoin significantly higher.
There is one newly formed CME gap that BTC may have to fill before it can see any further momentum.
One trader is pointing to this level as a short-term pullback target, noting that a rebound here could catalyze a serious upswing that drives Bitcoin past the resistance it is currently struggling to surmount.
Bitcoin Enters Fresh Consolidation Phase Following Recent Upswing
At the time of writing, Bitcoin is trading up just over 1% at its current price of ,430. This marks a notable upswing from weekly lows of ,600 that were hit just before news broke surrounding Square’s BTC purchase.
This upswing has begun losing its momentum as the cryptocurrency nears its resistance at ,600.
Tonight’s weekly close, however, may catalyze some momentum due to the significance it has for the cryptocurrency’s market structure.
If BTC fails to break above this level in the near-term, it could strike a serious blow to the strength it has built throughout the past few days.
Analyst: This New CME Gap May Draw BTC’s Price Lower
While speaking about where he thinks Bitcoin may trend in the near-term, one analyst noted that he is setting his sights on a decline towards a recently formed CME gap at ,110.
He notes that a decline here will provide a high probability that further upside is imminent due to the robust support sitting just below.
“Have placed some bids around the CME gap at 11,110. Hoping they fill for the weekly close or early Monday. High probability that we do so could be an easy trade (I hope),” he said.
Image Courtesy of Pentoshi. Chart via TradingView.
If Bitcoin maintains its current strength prior to its weekly candle close, this could be enough to provide it with some strength that boosts its near-term outlook.
Featured image from Unsplash. Charts from TradingView.
ArbiSmart Users Get What They Wished For, Good ROI and Newly Added USDT Support
In the crypto space, the term Decentralized Finance (DeFi) has become the buzz word of 2020 as interest continues to pick up in the space. While there are several financial services verticals that falls under the broad DeFi spectrum, the ones that allow investors to earn a steady stream of passive income is something that is sought by many. It is even more exciting if the service does not require them to constantly keep track of such investments for profit optimization.
Such a solution is made possible by proprietary smart AI-based machine learning algorithms implemented by ArbiSmart. The EU based crypto arbitrage platform offers a reliable automated trading platform that allows users to leverage the price difference in crypto assets across leading exchanges to generate profits.
Unlike manual trading, ArbiSmart’s automated solution is capable of placing round-the-clock high-frequency trades across more than 20 leading global exchanges, in real-time. The platform has the potential to generate profits of up to 45% while exposing the users’ funds to minimal risk, close to 0%. In fact, even during the prevalent economic slowdown that is currently affecting global markets, ArbiSmart has managed to consistently maintain good profit margins.
Apart from its ability to generate decent profits on crypto investments, ArbiSmart is a regulated platform licensed by Estonia’s Financial Intelligence Unit to provide cryptocurrency-related financial services. It is also known to maintain high standards when it comes to customer service and security features protecting clients’ personal information and funds. All these factors have contributed to its growing reputation, making it an attractive option for investors.
Customer Satisfaction Always Takes Priority on ArbiSmart
If the platform’s customer service is any indication, one will know that ArbiSmart takes customer satisfaction seriously and is willing to go to great lengths to keep them happy. Users can provide inputs and feedback to the team which will be reviewed and considered for further improvements to the platform. The latest such development to feature on ArbiSmart is the inclusion of support for USDT deposits. Apart from the newly introduced USDT, users can also make deposits with other leading cryptocurrencies, credit and debit cards, and wire transfer.
All it takes to earn passive income is an account and a minimum EUR 500 deposit on ArbiSmart. The Smart Investment Calculator on the platform further assists users in deciding the investment amount that is right for them to enjoy preferred returns. It also provides a smart wallet feature where users can park their crypto assets and earn interest.
Meanwhile, the team at ArbiSmart continues to work on developing new features and services as per their well-planned product roadmap and user requests. Eventually, users can start benefiting from these updates as and when it happens.
Learn more and start investing on ArbiSmart at – https://arbismart.com/
Image by Nattanan Kanchanaprat from Pixabay
Operator of Newly Launched Binance US Appoints Former Ripple Exec as New CEO
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