1. Bitcoin funds have experienced huge outflows over the past week, especially Grayscale funds, causing BTC and other digital assets to fall in price. Still, Grayscale's outflows are slowing. CoinShares reports that while investors have withdrawn more than $500 million from major crypto funds including Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, newly formed Bitcoin ETFs are attracting large amounts of capital. In addition, the approval and trading of 10 BTC ETFs on Wall Street also attracted a large number of investors. However, the price of Bitcoin did not change significantly as a result.

  2. OKX announced that it will support new token standards, including Doginals, Atomicals, Stamps, and Runes, on its wallet and marketplace. OKX Wallet will integrate the Bitcoin token standard SRC-20 (Stamps), enabling users to view and transfer these inscription standards. In addition, it is planned to integrate ARC-20 (Atomicals), DRC-20 (Doginals), and Runes simultaneously in late February. OKX Marketplace will also integrate the DRC-20, ARC-20, and Runes standards during the same period, enabling users to buy and sell these inscriptions for free.

  3. BitDeer Technology Group announced the appointment of its founder and chairman of the board, Mr. Jihan Wu, as the new CEO, effective March 1, 2024. Wu will continue to serve as the company's chairman of the board. The company's current CEO, Kong Linghui, will move to the position of chief business officer and continue to serve as a member of the company's board of directors.

  4. Invesco and Galaxy announced that they will reduce the total expense ratio of the Invesco Galaxy Bitcoin ETF (BTCO) from 0.39% to 0.25%. The move is aimed at reducing costs for investors. Invesco also plans to waive all fees for up to $5 billion in assets during the first six months of BTCO's operation, effectively reducing the total expense ratio to 0 basis points. This move is expected to attract more investors to the Bitcoin ETF market.

  5. Google recently updated its advertising policy and now allows advertising for Bitcoin and other cryptocurrency trust products. This policy change means that ads for spot Bitcoin ETFs such as BlackRock, VanEck, and Franklin Templeton can now be displayed on Google search pages.

  6. TD Cowen investment bank expects the U.S. Securities and Exchange Commission (SEC) not to approve a spot Ethereum ETF until late 2025 or early 2026. The prediction was made earlier this month, when the bank noted that SEC approval could come after the November 2024 election.

  7. Bitcoin mining company GRIID Infrastructure has begun trading on U.S. markets after going public in Canada earlier this month. The company is based in Cincinnati and owns one New York mining facility and three Tennessee mining facilities. GRIID debuted on the CBOE Canada and plans to trade on the Nasdaq. GRIID aims to become a leader in Bitcoin mining and energy innovation by expanding its power pipeline and increasing operational capacity.

  8. In about an hour after the U.S. stock market opened, BlackRock's spot Bitcoin ETF (IBIT) trading volume reached $155 million, exceeding GBTC's $113 million. This may be the first time that the trading volume of a spot Bitcoin ETF product has exceeded GBTC.

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