Bitcoin Slides 3% After Hitting One-Year High, NEAR Protocol's Token Surges 10% on Alibaba Cloud Partnership, Belgium Regulator Orders Binance to Cease Services
June 26 (Cointime) - Bitcoin has dropped by 3% to $30,300 after reaching a one-year high of over $31,300 on Friday. The recent 20% increase in Bitcoin's value over the past 10 days is believed to be due to BlackRock's filing to launch a spot Bitcoin ETF, which has encouraged large institutional investors to invest further in the cryptocurrency market. NEAR Protocol's NEAR token has increased by 10% after the company's foundation announced a partnership with Alibaba Cloud.
Blackrock's Spot Bitcoin ETF Threatens Grayscale's Dominance, Says Bernstein
June 26 (Cointime) - According to a research report by Bernstein, Grayscale's dominant position as the largest bitcoin asset management product may be threatened by Blackrock's filing for a spot bitcoin ETF in the US. Grayscale's BTC trust (GBTC) earns around $380 million in annualized fees despite being inefficient, illiquid, and trading at a significant discount.
Bitcoin Surges to One-Year High Above $31,000 Amid Growing Interest in ETFs
June 23 (Cointime) - Bitcoin has reached a one-year high above $31,000, continuing its surge from mid-June. The cryptocurrency's market capitalization is the largest and it has increased by nearly 4%, trading at $31,110 according to CoinDesk Indices. Over the past week, Bitcoin has risen by approximately 20%. BlackRock, the world's largest asset manager, recently applied for a spot ETF, which may have contributed to Bitcoin's recent surge.
BlackRock-Themed NFT Collection Sees $749K in Trading Volume, Creator Retains 10% Ownership
June 23 (Cointime) - A new NFT collection called BlackRock, inspired by the popular EtherRock collection and the branding of investment giant BlackRock, has already generated $749,000 in total trading volume. Despite BlackRock's recent filing for a Bitcoin ETF, the investment firm has no affiliation with the NFT project.
BlackRock's Bitcoin ETF Application Sparks Debate Over Traditional Finance's Role in Crypto
June 23 (Cointime) - BlackRock's application to launch a Bitcoin ETF has sparked debate in the crypto community, with some seeing it as validation for the industry while others raise concerns about traditional financial institutions entering the space. Critics suggest that BlackRock's filing could be part of a broader power shift favoring traditional finance firms in the crypto landscape.
Bitcoin Poised for Strongest Weekly Close Since March Amid Flurry of Spot ETF Applications
June 23 (Cointime) - Bitcoin is on track for its strongest weekly close since March, with several major financial institutions applying for a spot Bitcoin ETF. BlackRock's application has caused excitement in the crypto market, with analysts predicting it could reduce barriers for financial advisers to offer exposure to Bitcoin.
BlackRock Believes Institutional Adoption of DeFi is "Many, Many, Many Years Away"
June 23 (Cointime) - BlackRock, the world's largest asset manager, has filed for a spot Bitcoin ETF, leading to a surge in the cryptocurrency market. While BlackRock is optimistic about institutional adoption of crypto, it believes that institutional participation in decentralized finance (DeFi) is still many years away due to regulatory hurdles.
BlackRock Executive Says Digital Identity Infrastructure Critical for Institutional Involvement in DeFi
June 23 (Cointime) - Joseph Chalom, head of strategic partnerships at BlackRock, emphasized the importance of developing digital identity infrastructure for decentralized finance (DeFi) to attract large institutional players. However, this may contradict the privacy values of crypto natives. BlackRock's recent application to list a bitcoin exchange-traded fund (ETF) positions them as a potential industry leader, with greater influence over industry rules. Chalom stated that identifying counterparties is crucial for institutions like BlackRock to avoid legal repercussions, and called for a clear understanding of who is in a pool.
BlackRock's ETF Filing Sends Bitcoin Above $30,000, Other Investment Firms Follow Suit
June 22 (Cointime) - Bitcoin experienced a surge above $30,000 on Wednesday following BlackRock's filing of paperwork for a cryptocurrency exchange traded fund (ETF) with the U.S. Securities and Exchange Commission.
Gemini Co-Founder Cameron Winklevoss Claims "Great Accumulation of Bitcoin" Has Begun as ETF Filing Deadline Nears
June 22 (Cointime) - Gemini crypto exchange co-founder Cameron Winklevoss has claimed that the "great accumulation of Bitcoin" has begun, sparking speculation among investors and enthusiasts. Winklevoss drew comparisons between the previous decade, when Bitcoin emerged as the best investment, and the current decade, which presents an opportunity for the best trade. He emphasized that the window to purchase pre-IPO Bitcoin before ETFs go live and open the floodgates is closing fast. Big players in traditional finance, including BlackRock and Fidelity Investments, have filed for the spot Bitcoin ETF application, boosting investor confidence.
