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🚀🎉 Bitcoin ETF inflows in the US hit a whopping $303 million on May 15, marking the highest inflow since May 3! This comes as BTC prices are skyrocketing, with the asset surging 7% over the past 24 hours, tapping $66,567 during early trading in Asia on Thursday morning. 📈💰 Fidelity's FBTC fund led the pack, seeing $131 million in inflows for the day, its highest since March 26. Bitwise’s BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4. Even Grayscale’s GBTC saw an inflow with $27 million returning to its flagship BTC fund following four months of outflows. 🏦💸 🔍📊 The latest US Security and Exchange Commission filings reveal that one of the world’s largest hedge funds, Millennium Management, holds a staggering $2 billion spot Bitcoin ETF portfolio. This portfolio is comprised of $844.2 million in BlackRock’s IBIT, $806.7 million in Fidelity’s FBTC, $202 million in Grayscale’s GBTC, $45.0 million in Ark’s ARKB, and $44.7 million in Bitwise’s BITB. Millennium is now the largest holder of IBIT and FBTC. 💼💰 🎯 The big ETF inflow day coincided with big gains for bitcoin’s price. BTC was changing hands for $65,900 at the time of writing, following a gain of 15% over the past fortnight, bringing it to just 10% from its all-time high. The crypto markets reacted positively to the April CPI data in the US, which came in lower than expected at 0.3%, increasing the likelihood of the Federal Reserve reducing rates and injecting more liquidity into markets, a good news for high-risk assets such as crypto. 🎉🚀

🚀🎉 Bitcoin ETF inflows in the US hit a whopping $303 million on May 15, marking the highest inflow since May 3! This comes as BTC prices are skyrocketing, with the asset surging 7% over the past 24 hours, tapping $66,567 during early trading in Asia on Thursday morning. 📈💰

Fidelity's FBTC fund led the pack, seeing $131 million in inflows for the day, its highest since March 26. Bitwise’s BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4. Even Grayscale’s GBTC saw an inflow with $27 million returning to its flagship BTC fund following four months of outflows. 🏦💸

🔍📊 The latest US Security and Exchange Commission filings reveal that one of the world’s largest hedge funds, Millennium Management, holds a staggering $2 billion spot Bitcoin ETF portfolio. This portfolio is comprised of $844.2 million in BlackRock’s IBIT, $806.7 million in Fidelity’s FBTC, $202 million in Grayscale’s GBTC, $45.0 million in Ark’s ARKB, and $44.7 million in Bitwise’s BITB. Millennium is now the largest holder of IBIT and FBTC. 💼💰

🎯 The big ETF inflow day coincided with big gains for bitcoin’s price. BTC was changing hands for $65,900 at the time of writing, following a gain of 15% over the past fortnight, bringing it to just 10% from its all-time high. The crypto markets reacted positively to the April CPI data in the US, which came in lower than expected at 0.3%, increasing the likelihood of the Federal Reserve reducing rates and injecting more liquidity into markets, a good news for high-risk assets such as crypto. 🎉🚀

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🚀Buckle up, BTC enthusiasts! After a rocky end to April and a tumultuous May 1, Spot Bitcoin ETFs are back on track with a whopping 10 consecutive days of positive flows! 📈 This bullish trend follows BTC's rollercoaster ride, fueled by news of Ethereum ETFs, and now sees the asset heading towards a cool $69,000. 💰 Let's rewind a bit. Back in January, the crypto industry celebrated a huge milestone when the US SEC finally gave the green light to nearly a dozen spot Bitcoin ETFs. The impact was immediate, attracting billions of dollars in just a few months. 🎉 But then came April, and the tide turned with several red days. May 1 was particularly brutal, with over $560 million in outflows. 😱 However, the winds of fortune shifted again in the following weeks, especially after the positive US CPI data for April. Since May 10, the largest ETFs have been on a winning streak, matching the 10-day record of inflows from March. 🥳 BlackRock’s IBIT is leading the charge in inflows, attracting over $16,350 billion. Grayscale still holds the crown with $20 billion, but the outflows suggest BlackRock might soon take the throne. 👑 In total, all ETFs are nearing $13.7 billion in inflows. Meanwhile, Ethereum fans also had a reason to celebrate this week as the US SEC approved eight spot ETH ETFs. 🎈 BTC's response to the Ethereum news was a wild ride, soaring from $67,000 to $72,000 before plunging to under $66,000. But the past 24 hours have been more positive, possibly driven by the impressive inflows, and BTC is now hovering close to $69,000. 🚀 Stay tuned, folks! The crypto ride is far from over! 🌐
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🚀Crypto enthusiasts, buckle up! The U.S. Supreme Court has unanimously ruled against Coinbase Inc. (COIN) in an arbitration dispute over its 2021 Dogecoin (DOGE) sweepstakes. 🐕💨 In a 9-0 ruling, the court clarified that when parties are governed by multiple contracts, it's up to the court to decide which legal agreement takes precedence. 🏛️📜 Coinbase had hoped to settle the dispute through arbitration, based on user agreements that mandate arbitration for all customers. However, a federal judge ruled that the sweepstakes terms, which specified California's court system for related disputes, overruled the customer agreement. 🚫⚖️ The Supreme Court upheld the lower court's authority, dismissing Coinbase's argument that ruling against them would lead to legal chaos and enable parties to dodge arbitration agreements. 🎯👩‍⚖️ Richard Silberberg, an arbitration lawyer, noted that the decision was "hardly surprising" and confirmed that "a court, not an arbitrator, must decide whether the parties' first agreement was superseded by the second." 📚👨‍⚖️ The dispute originated from a lawsuit by former Coinbase user David Suski, who claimed that the "Trade Doge, Win Doge" contest misled participants into thinking a $100 purchase or sale of Dogecoin was required to win cash prizes. However, the fine print revealed an alternative entry method via mail, avoiding the need for purchase. 📬💸 In response to the ruling, Coinbase's Chief Legal Officer Paul Grewal commented, "Some you win. Some you lose. We are grateful for having had the opportunity to present our case to the court and appreciate the court's consideration of this matter." 🙏🎢 Stay tuned for more updates on this rollercoaster ride in the crypto world! 🌐💫
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🚀🚀Buckle up, BTC enthusiasts! The U.S. Congress may be warming up to crypto, but President Biden could still be a roadblock, says Senator Cynthia Lummis. 🧐 In a recent interview, Lummis shared insights on Capitol Hill's evolving views on crypto and the parties still resisting pro-crypto legislation. The big question? Whether Biden will sign H.J.Res. 109 into effect. This resolution, which has bipartisan support, aims to repeal a prior SEC rule that made it tricky for regulated banks to offer crypto custody services. 🏦💼 Biden had threatened a veto, but the strong bipartisan backing for the act has some hoping he might change his tune. 🎵🎶 However, Lummis warns that the SEC had already cautioned her about a potential Biden veto. Now, she says, the White House will have to reconsider. 🤔 Meanwhile, two other crypto-focused bills, FIT21 and the CBDC Anto Surveillance State Act, have passed the House. FIT21 even secured a two-thirds majority vote, enough to override a potential presidential veto if the Senate shows equal support. 📜👏 Lummis notes that bipartisan support for crypto is growing, but opposition still exists, mainly from the "progressive wing" of the Democratic party. 😬 Going forward, Lummis encourages the crypto industry to engage with their congresspeople and educate them about digital assets. She sees the 2024 political opportunity as a chance to establish a lasting framework for the digital asset industry. 🎓📚 So, will Biden veto pro-crypto legislation? The crypto world is watching! 👀🍿
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