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Spot Bitcoin ETF Launch: BlackRock & Ark 21Shares Join.
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Russia is using Bitcoin for international payments

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Russia is using Bitcoin for international payments Russia’s Finance Minister Anton Siluanov has announced that Russian companies have started using Bitcoin and other cryptos for international trade. “Such transactions are already occurring. We believe they should be expanded and developed further,” he told Russia 24 TV. He also made it clear that this is just the beginning, calling crypto payments “the future of international trade.” From Bitcoin bans to full-blown adoption Russia’s crypto history has been wild. In 2017, the government looked at blockchain tech like a curious kid with a new toy, but it quickly slammed the brakes, banning cryptos for payments. The official excuse? Concerns about financial stability and preventing shady activities. Fast forward to 2020, and the rules softened, but not by much. Crypto was legalized, but their use for transactions remained off the table. Now, 2024 has flipped the script. Russia’s lawmakers gave mining the green light, effective November 1, and legalized the use of crypto for cross-border payments. The timing isn’t random. With sanctions making traditional trade channels nearly impossible, crypto has become the lifeline. Russia isn’t playing small ball here. In 2023 alone, the country mined 54,000 Bitcoins, pulling in 50 billion rubles (around $550 million) in tax revenue. With new laws in place, the potential for growth is massive. President Vladimir Putin threw his weight behind them, criticizing the U.S. for using the dollar as a political weapon. “The U.S. undermines the dollar’s role as a global reserve currency,” he said earlier this month, calling Bitcoin a viable alternative. And for good measure, he added, “No one in the world can regulate Bitcoin.” The country is now the second-largest Bitcoin mining hub in the world, right behind the United States. Why? Cheap electricity and freezing weather. Perfect conditions for running mining rigs 24/7. #Russia #Bitcoin #BTC #CryptoNews #InternationalPayments $BTC $ETH $XRP

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U.S. Spot Bitcoin ETFs Face $1.5B in Outflows, Largest Streak Since Trump Win

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U.S. Spot Bitcoin ETFs Face $1.5B in Outflows, Largest Streak Since Trump Win U.S. spot Bitcoin ETFs recorded $1.52 billion in outflows over four days.Digital asset investment products saw $308 million in net inflows last week. The U.S. spot Bitcoin exchange-traded funds (ETFs) have recently experienced a sharp reversal in their flow patterns. On December 24, these funds saw $338.4 million in net outflows, marking the fourth consecutive day of outflows, which have now reached $1.52 billion over the past four days. This comes after strong inflows, where over $6.7 billion flowed into spot Bitcoin ETFs leading up to December 18. BlackRock’s IBIT ETF, in particular, saw the largest outflow, with $188.7 million exiting the fund. Fidelity’s FBTC followed closely, losing $83 million, while ARK Invest’s ARKB saw $75 million leave. Bitwise’s BITB was the only ETF to record positive movement, adding $8.5 million. The rest of the funds remained steady, with little change in their net inflows or outflows. This ongoing streak of outflows is the longest since the aftermath of Donald Trump’s re-election, which had helped to spark a market rally. Despite the recent negative flows, the total assets held by all spot Bitcoin ETFs still stand at $107.53 billion. This is thanks to strong price performance on the same day, with some funds even seeing daily gains of up to 6.48%. Shifting Trends in Bitcoin and Ethereum ETFs The outflow trend starkly contrasts the peak seen earlier this month when spot Bitcoin ETFs reached $121.7 billion in net assets on December 16. However, a record single-day outflow of $680 million on December 19 has contributed to the recent decline in total assets. On the other hand, spot Ethereum ETFs saw a brighter day on December 23, with net inflows of $130.76 million. BlackRock’s ETHA led the charge with $89.5 million in daily inflows, while Fidelity’s FETH brought in $46.4 million. Even so, Grayscale’s ETH saw a minor outflow of $6.1 million. #Bitcoin #BTC #ETFs #CryptoNews #SpotBitcoinETF $BTC $ETH $XRP

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