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Bitcoin products took the largest share of inflows, netting 84% of incoming funds, according to CoinShares’ weekly fund flows report. Crypto investment products have recorded four  weeks of inflows, as the market eagerly awaits the possible approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States. Asset management firm CoinShares’ Oct. 23 fund flows report revealed $179 million was added to digital asset investment products in the week ending Oct. 20, which has swelled the space’s assets under management to $33 billion. Of the past week’s inflows, $55.3 million or 84% went to Bitcoin investment products which has brought year-to-date Bitcoin product inflows to $315 million, it added. It seems that the anticipation of a spot #Bitcoin ETF has prompted further inflows for the 4th consecutive week. Here is our analysis with @Jbutterfill. Week 43 inflows: US$66m Inflows are relatively low in comparison to June’s @BlackRock announcements, suggesting more… pic.tw...

CoinShares, a provider of crypto exchange-traded products in Europe, is optimistic about spot Bitcoin ETFs in the United States. European crypto currency investment firm CoinShares is optimistic about crypto currency regulation in the United States as the firm enters the new market. On Sept. 22, CoinShares officially announced the launch of its new division, CoinShares Hedge Fund Solutions, marking the first time the firm introduce its offerings to qualified U.S. investors. CoinShares’ entrance into the U.S. market comes at a time when many U.S. crypto firms are looking at expanding their businesses outside the country due to regulatory hurdles at home. One such firm, cryptocurrency exchange Coinbase, has been actively pushing expansion in Europe and the United Kingdom amid facing a lawsuit from the U.S. Securities and Exchange Commission over an alleged violation of securities laws. Many crypto industry observers and participants have claimed that the U.S. government's approach ...

The U.S. Securities and Exchange Commission (SEC) has extended the deadline for ARK 21Shares’ spot Bitcoin (BTC) ETF to January 2024. This extension underscores the SEC’s unchanged stance on crypto exchange-traded funds (ETFs). In a filing on Tuesday, Sept. 26, the SEC said that it finds it “appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change.” The watchdog noted it still has an additional 60 days to consider the listing, however, the final deadline is still set for Jan. 10, 2024. You might also like: SEC’s Gensler avoids Bitcoin ETF question in latest Senate hearing The SEC delayed its decision on ARK 21Shares Bitcoin ETF even though U.S. lawmakers urged the agency to approve an exchange-traded crypto product (crypto ETP) as soon as possible. On Tuesday, Sept. 26, a group of Republican and Democratic lawmakers u...

Given the unique positioning of the crypto mining market, Texas officials believe miners can participate in demand response programs — which involve turning off miners’ power during peak demand. The United States filled in the wide gap in Bitcoin (BTC) mining that was left open by China by the end of June 2021. Despite looming rumors of high power consumption, officials in Texas, one of the fastest growing crypto mining hubs in the US, now believe that mining operations can, in fact, garner a symbiotic relationship with the energy industry.  A newsletter from the Texas Comptroller’s office revealed the state’s pro-crypto stance with the intent to host long-term miners and operators. Clarifying the general misconception about Bitcoin’s energy usage, the fiscal note highlighted that unlike “manufacturing facilities or industrial chemical plants, which can be expected to be around for decades,” cryptocurrency mining facilities do not place big electrical demands on the grid. With greater...

Coinbase’s new institutional lending service has the same operating entity as Coinbase Borrow, which halted issuance of new loans in May. Cryptocurrency exchange Coinbase has rolled out a crypto lending service for institutional investors in the United States, reportedly aiming to capitalize on massive failures in the crypto lending market. Coinbase has quietly launched an institutional-grade crypto lending platform, Coinbase Prime, to U.S. investors, according to a Bloomberg report on Sept. 5. Coinbase Prime is a full-service prime brokerage platform that lets institutions execute trades and custody assets. “With this service, institutions can choose to lend digital assets to Coinbase under standardized terms in a product that qualifies for a Regulation D exemption,” the firm reportedly said in the statement. According to a filing with the U.S. Securities and Exchange Commission, Coinbase customers have already invested $57 million in the lending program since the date of the f...

The BitMEX co-founder says Bitcoin has been on a bull run since the Fed’s $25 billion dollar program aimed at stabilizing the U.S. banking system. Bitcoin (BTC) has been on a bull run for the past six months or so and the market is yet to respond — but it will in around six to 12 months, according to BitMEX co-founder and former CEO Arthur Hayes. In a Sept. 5 keynote speech at Korea Blockchain Week, Hayes argued Bitcoin’s bull run began on March 10, the day Silicon Valley Bank (SVB) was taken over by the Federal Deposit Insurance Corporation. Two days before SVB’s takeover on March 8, Silvergate Bank had gone into liquidation. Two days later on March 12, Signature Bank was forced to close by New York regulators. In response, and in a bid to stop further possible collapses, the Federal Reserve created the Bank Term Funding Program (BTFP) — offering banking loans of up to a year in return for them posting “qualifying assets” as collateral. Hayes speaking at Korea Blockchain Week in Se...

Also Read: Whale Again Moves Massive 4.6 Trillion Shiba Inu (SHIB), Recovery Ahead? advertisement XRP Buying Pressure Data from Kaiko showed that there was a rise in sell volume ratio with world’s top cryptocurrency exchange Binance while at the same time, Coinbase saw a rise in buying pressure. Also, the average trade size of the XRP buyer in the US based exchange has also risen, more than any other top 10 altcoins, the data showed. Interestingly, the reversal in buying pressure in the US comes after the July 2023 Summary Judgment in the U.S. Securities and Exchange Commission (SEC) lawsuit. During the same time period, the XRP price saw the loss of gains it saw following the historic judgment, which deemed that the programmatic sale of tokens to retail buyers was not securities. In terms of the enterprise software business, Ripple witnessed the re-engagement with the United States based clients, a development that plagued the company since the S...

Many prominent crypto commentators are concerned that this will make crypto firms even more reluctant to do business in the United States. Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden.  On Aug. 25, in an effort to catch crypto users avoiding taxes, the Internal Revenue Services (IRS) proposed brokers follow new rules for selling and trading digital assets. Brokers would use a new form to make tax filing easier and prevent cheating on taxes. The Treasury indicated that the proposed rules would make digital asset reporting similar to reporting on other kinds of assets. However, many in the crypto community believe the stringent rules will push the crypto industry even further away from the U.S. Messari CEO, Ryan Selkis was among those who responded unfavorably to the news, believing that if Biden secures re-election, the crypto industry will not flourish in the country.  There's n...

Also Read: XRP Lawyer: Coinbase May Have Acquired Ripple Too? advertisement BRICS, a group of five emerging economies Brazil, Russia, India, China, and South Africa, is said to be working on a common currency to counter the US Dollar dominance. Putin: US Dollar Losing Global Role Earlier, reports quoted Russia n President Putin as saying that the US dollar is losing its global role in an “objective and irreversible” process. Last week, CoinGape reported former US President Donald Trump’s warning on the threat to the Dollar’s global position. He warned that the BRICS group’s aggressive moves towards dedollarization could be a massive threat. The Russia n president had reportedly attended the BRICS 2023 in Johannesburg through video conference from Moscow. He also credited the success of reducing US Dollar’s share of member states trade to the BRICS Group. The share of US Dollar in international trade declined to 28.7 per...

Digital Energy Council debuts in the US, aiming to navigate the complex regulatory waters of crypto mining with Tom Mapes at its helm. The crypto mining industry in the US has a new lobbying organization known as the Digital Energy Council. The new lobby group was launched on August 15. The new group will aim to work with legislators on new regulations for cryptocurrency mining. The president and founder of the organization is Tom Mapes. Before that, he had different roles as the Chamber of Digital Commerce director and chief of staff at the U.S. Department of Energy’s Office of International Affairs. Its official first member association solely focused on the intersection of digital asset mining and energy ️ policy at the federal level, look forward to working with digital asset and energy leaders check it out: https://t.co/kBFRkXHTNy https://t.co/kzNhtfxYZi — Tom Mapes (@tommapes88) August 16, 2023 Mapes explained that while working in the energy department, he reali...

Judge Analisa Torres has sent the remaining issues in the SEC versus Ripple case to Magistrate Judge Sarah Netburn. The next phase of the ‘SEC vs Ripple’ case is set to move forward as U.S. District Judge Analisa Torres of the Southern District of New York filed paperwork on July 17 referring the case to Magistrate Judge Sarah Netburn. First reported by journalist Eleanor Terrett, the court issued an “amended order of reference to a Magistrate” transferring judiciary oversight of the case to the Magistrate’s office: NEW: District Judge Torres has referred the @Ripple case to Magistrate Judge Netburn for General Pretrial (includes scheduling, discovery, non-dispositive pre-trial motions and settlement). pic.twitter.com/EyrA3flpXC — Eleanor Terrett (@EleanorTerrett) July 17, 2023 The single-page document, which was viewed by Cointelegraph, indicates that the next step will be general pretrial. This stage usually entails discovery and a short window to raise objections. General...

Also Read: US SEC Brands Solana (SOL), Cardano (ADA), Polygon (MATIC) As Securities advertisement However, no Crypto Market related feature or update was mentioned during the WWDC conference. Yet, Apple appears to be in a reasonably fair place to partner with OTOY Inc., the company whose CEO is also responsible for founding the Render network. Octane X Partnership With Apple On Cards? During the Apple keynote event on Monday, the iPhone making company featured Octane X, a GPU rendering feature that is available on the Mac App Store. Octane is directly related to the Render (RNDR) token as OTOY is the company behind both the products. Jules Urbach, the CEO of OTOY, had in 2016 founded Render Token to provide decentralized GPU based rendering solutions. Hence, it is being speculated that there could be a partnership between Apple and Octane soon. A Twitter account with the name Satoshi’s Tears said, Recommended Articles ...

U.S. Senator Cynthia Lummis joined Chamber of Digital Commerce CEO Perianne Boring on stage at Bitcoin Miami 2023 for a lengthy discussion on regulation. U.S. Republican Sen. Cynthia Lummis of Wyoming held a fireside chat with the founder and CEO of Chamber of Digital Commerce Perianne Boring during the Bitcoin 2023 event in Miami on May 19. The topics of discussion were the importance of Bitcoin to U.S. national and energy security and the upcoming legislation surrounding cryptocurrency, blockchain, and related technologies. Lummis described regulating Bitcoin and related technologies as a national security issue. She opined that the U.S. government had been irresponsible with its debt, and positioned Bitcoin as a decentralized safety net for citizens: “I'm actually worried as we go into another debt ceiling debate that we will eventually increase the debt ceiling to the point where our interest payments will exceed how much money we spend on national defense. So it is a nationa...

The highest intraday price of Bitcoin on Binance.US reached as much as $28,600, while the intraday market price high amounted to $28,000. Amid the global cryptocurrency exchange Binance recovering from several halts of Bitcoin (BTC) withdrawals, its American arm Binance.US is selling BTC at premium . The price of Bitcoin on Binance.US is $700 more expensive than the cryptocurrency's market price on May 9. At the time of writing, or around 1:30 am UTC, Bitcoin is traded at $28,393, according to data from Binance.US Bitcoin page. Bitcoin price on Binance.US on May 9, 2023. Source: Binance.US According to data from CoinGecko and CoinMarketCap, the current market price of Bitcoin amounts to $27,722, which is roughly 2% less than the Bitcoin’s price quoted on Binance.US. The highest intraday price of Bitcoin on Binance.US amounted to as much as $28,600, while the intraday high for its market price only equaled $28,004. In the meantime, Bitcoin’s lowest intraday values spans from t...