The latest moves in crypto markets, in context By Lyllah Ledesma, CoinDesk news reporter Was this newsletter forwarded to you? Sign up here. |
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Happy Wednesday! Here’s what you need to know today in crypto: |
| BlackRock’s iShares Bitcoin Trust is one of the top five exchange-traded funds of 2024 based on inflows. Hedera Hashgraph saw significant gains after Hedera announced a five-year partnership with the Saudi Ministry of Investment Association. B2C2 gains Luxembourg virtual asset license as it looks to expand its presence in the EU. |
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CoinDesk 20 Index: 1,646 +0.4%
Bitcoin (BTC): $42,896 +0.1%
Ether (ETC): $2,361 +1.5%
S&P 500: 4,954.23 +0.2%
Gold: $2,050 +0.8%
Nikkei 225: $2,050 +0.8% |
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GBTC is now an ETF. Grayscale Bitcoin Trust ETF was first created in 2013 as the original Bitcoin fund helping investors gain secure and familiar access to Bitcoin. Today, GBTC is the world’s largest Bitcoin ETF with $26.6B in AUM as of 1/11/24, offering even more investors with convenient exposure to the world’s most popular cryptocurrency. Bitcoin investing begins with GBTC. Find ticker: GBTC in your brokerage account or ask your financial advisor today. Grayscale Bitcoin Trust (BTC) (the “Trust”) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903 - 2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101. Foreside Fund Services, LLC is the Marketing Agent for the Trust. An investment in the Trust involves risks, including possible loss of principal. The Trust holds Bitcoin; however, an investment in the Trust is not a direct investment in Bitcoin. Extreme volatility of trading prices that many digital assets, including Bitcoin, have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of GBTC and the shares could lose all or substantially all of their value. |
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Only 17 days after its launch, the BlackRock iShares Bitcoin Trust (IBIT) became one of the top five exchange-traded funds (ETFs) of 2024 based on inflows , according to data from Bloomberg Intelligence. The only funds beating IBIT's $3.2 billion of year-to-date inflows are mammoth longstanding index ETFs from iShares and Vanguard that offer exposure to the S&P 500 or the total stock market. In the No. 1 spot, with $13 billion in inflows, is the iShares Core S&P 500 ETF (IVV), which has a whopping $428 billion of assets under management (AUM). No. 2, with $11.1 billion in inflows, is the Vanguard 500 Index Fund ETF (VOO), which has nearly $398 billion in AUM. |
(Jim.henderson/Wikimedia Commons) |
Bitcoin continued to trade in a tight range on Wednesday while ether gained around 2% over the past 24 hours. Altcoin Hedera Hashgraph (HBAR) saw the most significant gains, climbing 5%. Hedera announced a five-year partnership with the Saudi Ministry of Investment Association on Tuesday to support local tech startups. The company will launch DeepTech, a $250 million venture studio to support Saudi firms that focus on blockchain, Web3 and AI. Monero’s XRM lost 8% after Tuesday's 30% slump to a 20-month low prompted by crypto exchange Binance saying it will stop listing the privacy token as of Feb. 20. Liquidity provider B2C2 secured regulatory approval in Luxembourg as a virtual asset service provider (VASP) as the London-based firm looks to expand its presence in the European Union. Approval allows B2C2 to offer over-the-counter (OTC) spot crypto services to institutional clients. It becomes the 12th VASP to be added to Luxembourg's Commission de Surveillance du Secteur Financer’s (CSSF) public register. The company already has a license from France's Autorité des Marchés Financiers (AMF), acquired when it bought Paris-based Woorton in August last year. The moves come as the EU prepares to implement its Markets in Crypto Assets (MiCA) regulation this year. Once it kicks in, the 27-nation trading bloc will be the first major jurisdiction worldwide to introduce comprehensive, tailored rules for the sector. |
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Market Insight: Whales Grab $50M of Chainlink’s LINK |
One of crypto’s hottest narratives – the tokenization of real-world assets – has sparked a nearly 40% jump in the price of Chainlink’s (LINK) over the past 30 days, with some crypto wallets apparently picking up over $50 million worth of the tokens. On-chain analysis tool Lookonchain said one large investor, colloquially known as a "whale," withdrew 2.7 million LINK tokens from crypto exchange Binance using 49 new wallets in that period, while the price climbed to a 22-month high and market cap touched $10 billion. One of the wallets has transferred more than $9 million in LINK tokens from the exchange in the past 10 days, Lookonchain said. A public database created by the firm shows the wallets hold anywhere from $230,000 to $3.5 million in LINK each. |
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Grayscale is the world’s largest crypto asset manager*. We enable investors to access the digital economy through a family of regulated and future-forward investment products. Our decade-long track record and deep expertise as a crypto-specialist means that investors, advisors, and allocators turn to us for both investment insights and innovative products. Crypto investing begins with Grayscale. *By AUM as of 1/16/24. Investing involves risk and possible loss of principal. |
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. |
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