Inflows into BlackRock’s Bitcoin exchange-traded fund (ETF) have surpassed those into the “Magnificent Seven Stocks” in 2024, which could push the BTC price to $88,000 by September.BlackRock Bitcoin ETF Inflows Surpass ‘Magnificent 7’ StocksBlackRocks’ iShares Bitcoin Trust ETF has accumulated about $19 billion worth of Bitcoin (BTC) since the beginning of the year.According to Jeroen Blockalnd, founder of Blockland Smart Asset Fund, these “embarrassing” inflows are bigger than the inflows from the “magnificent seven” stocks in 2024. He wrote in a July 23 post to X:”That’s more than Invesco’s Nasdaq 100 ETF, which includes the overhyped Magnificent 7 stocks and…
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Spot Ethereum exchange-traded funds (ETFs) attracted keen investor interest within the first 90 minutes of trading, with nine newly launched ETFs recording a combined trading volume of $361 million.Eric Balchunas, Bloomberg’s chief ETF analyst, shared early data on social media, noting that the ETFs are off to an impressive start, ranking in the top 1% of all ETFs by volume, similar to established funds like TLT and EEM.Grayscale’s ETHE led the pack with $147.8 million in volume, followed by BlackRock’s ETHA with $71.4 million and Bitwise’s ETHW with $50.4 million. Fidelity’s FETH also saw significant activity, recording $49.3 million in…
Spot Ethereum exchange-traded funds (ETFs) attracted keen investor interest within the first 90 minutes of trading, with nine newly launched ETFs recording a combined trading volume of $361 million.Eric Balchunas, Bloomberg’s chief ETF analyst, shared early data on social media, noting that the ETFs are off to an impressive start, ranking in the top 1% of all ETFs by volume, similar to established funds like TLT and EEM.Grayscale’s ETHE led the pack with $147.8 million in volume, followed by BlackRock’s ETHA with $71.4 million and Bitwise’s ETHW with $50.4 million. Fidelity’s FETH also saw significant activity, recording $49.3 million in…
Company • July 23, 2024 5:59 PM EDT Posted 1 minute earlier In ~ Happy Tuesday! In today’s Daily, Spot Ethereum ETF Launches in the US, Pudgy Penguins Raise $11 Million, Mt. Gox Bitcoin Is Moving Again, and More. Let’s begin.Spot Ethereum ETF launched. The SEC allowed eight issuers’ registration statements to become effective on Monday, meaning the first spot Ethereum ETF to begin trading in the United States is set to receive final approval by 9:30 a.m. ET on Tuesday. Six funds use Coinbase as their custodian. VanEck uses Gemini, while Fidelity stores its own ether. Spot Bitcoin…
Hamilton Lane to Launch Private Equity Credit Fund on Solana Blockchain The Libre partnership provides investors with access to compliant on-chain funds. Solana’s low latency and high throughput support tokenization initiatives. Solana has seen significant adoption, especially among traditional financial firms. The network is increasingly becoming the preferred platform for institutions due to its performance, low transaction costs, and ease of use. For this reason, efforts to bridge the gap between traditional finance and blockchain Solana are growing. Most recently, Solana’s traders approached Hamilton Lane Senior Credit Opportunities Fund (SCOPE) to bridge traditional finance and blockchain. SCOPE Launches at Hamilton…
Ted Hisokawa 23 July 2024 18:50 NVIDIA has launched AI Foundry services and NIM microservices to enable enterprises to create custom Llama 3.1 generative AI models for industry-specific applications. NVIDIA announced the launch of a new NVIDIA AI Foundry service, along with the NVIDIA NIM™ inference microservice, aimed at revolutionizing generative AI capabilities for enterprises worldwide. The initiative features Llama 3.1, an open-source model collection introduced to provide advanced AI tools to enterprises. Customized AI solutions for businesses With NVIDIA AI Foundry, companies and countries can now use Llama 3.1 and NVIDIA technology to…
On July 24, Bitcoin (BTC) fell over $1,400 in two hours, increasing its 24-hour loss to 2.1%. Mt. Gox’s continued repayment of its creditors may have played a large role in this decline.BTC/USD hourly chart. Source: TradingViewLet’s take a closer look at the factors driving down the Bitcoin price today.Mt. Gox Begins Refunding 140K BitcoinsToday’s Bitcoin price drop comes as Mt. Gox begins repaying over 140,000 BTC, or about $8.5 billion, to its creditors.It is worth noting that, according to a Telegram group of Mt. Gox creditors, creditors of the shuttered cryptocurrency exchange began accepting Bitcoin and Bitcoin Cash (BCH)…
A prominent on-chain analyst says one key indicator is showing the strength of Bitcoin’s (BTC) bull market. Checkmate, an anonymous on-chain analyst, told his 95,600 followers on social media platform X that the Short-Term Holder-Expenditure-Profit Ratio (STH-SOPR) is showing a continued uptrend for Bitcoin. STH-SOPR tracks the level of gain or loss of all BTC moved over the last 155 days for the short-term holder group. According to Checkmate, STH-SOPR briefly fell below the “1” level just before the bounce, indicating strong market fundamentals. “Bitcoin short, sharp STH-SOPR undercut to 1.0, followed by STH cost basis collapse. Looks good. This…
ETHTrustFund DAO is accused of stealing $2 million and laundering the funds through a mixer app. Developer Peng deleted all of his accounts without saying anything for several months before the lawsuit was filed. In addition to ETHTrustFund, other cryptocurrencies that have recently gained attention in the cryptocurrency market include Gemholic and Ordiz, which show an increasing risk of fraud. In a worrying development for cryptocurrency investors, ETHTrustFund DAO, a decentralized autonomous organization (DAO) that operates on the Base network, has been accused of extorting $2 million in ransomware. These claims, corroborated by a recent report from 0ctoshi, suggest that…
Games • July 23, 2024 3:10 PM EDT Posted 1 minute earlier In ~ Telegram CEO Pavel Durov announced that Catizen, a cryptocurrency game that lets you earn money by tapping through the messaging app, has “earned” $16 million from in-app purchases.”Catizen is a mini-game on Telegram with over 26 million players. The game has already earned $16 million from in-app purchases, donating 1% of it to stray cat rescue,” Durov posted Tuesday.Durov said on Monday that Telegram now has about 950 million users worldwide.Pluto Studio is the publisher of Catizen, a Telegram game built on The Open Network (or…