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...It also withdrew an application to launch a spot bitcoin ETF after the US Securities and Exchange Commission approved 10 others....
...Join me and fellow colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...“Bitcoin is going to be worth more in the future than it is today,” said Asher Genoot, chief executive of Hut 8, a US miner....
...Email me at philip.stafford@ft.com Join me and my colleagues at the FT’s flagship Crypto and Digital Asset Summit on May 8-9 in London....
...Taken at face value, this suggests that $1bn of inflows leads to ~8% returns for Bitcoin....
...BlackRock’s operating margin improved to 35.8 per cent, slightly better than analysts expected....
...Join me and fellow colleagues at FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...The 10 spot bitcoin ETFs earned net inflows of about $7bn combined from their mid-January launch through the end of February, including $8.5bn that investors have withdrawn from the $27.5bn Grayscale Bitcoin...
...Within hours of touching the milestone, however, bitcoin had fallen more than 8 per cent to about $62,000....
...At one point this week, bitcoin fell as low as $60,760....
...It was nice business: gold pans, retailing at 20 cents before 1849, were soon going for $8....
...Elsewhere on Wednesday… — Circles and slashes (Tedium) — Are Bitcoin ETFs cannibalising other assets?...
...ARK responded by dropping its planned fee to 0.25 per cent from 0.8 per cent, and saying it would waive the fee entirely for the first six months or $1bn....
...The number of monthly transacting users stood at just 6.7mn at the end of the third quarter, down from 8.5mn a year ago....
...They said 8 per cent and 5 per cent of their investment capital had been repaid using assets confiscated from Lantian Gerui and its former employees that were worth a total Rmb2.8bn (£309mn)....
...Its market value of around $8.8bn means that investors are valuing its software business at around $800mn....
...Second and third on the list are Venezuela (0.8 per cent of GDP) and Moldova (0.7 per cent). Tax haven use is common in both crypto and tradfi, of course....
...Ark Investment Management had indicated it would price its US ETF at 0.8 per cent but instead launched with no fees for the first six months or until assets reach $1bn (€920m)....
...The firm’s Wise Origin Bitcoin Fund will charge 0.39 per cent, compared with 0.8 per cent proposed by Ark and 21Shares as well as Valkyrie, according to an updated registration statement posted last week...
...In aggregate, continental Europe boasts 120 crypto ETPs with €8.4bn of assets, according to TrackInsight....
...Bitcoin fell by nearly 8 per cent during an hour of frenzied trading on Thursday afternoon in the US, extending a day of losses that reversed most of the cryptocurrency’s gains since June....
...Looking at the historical performance, any one of them can be down 8 per cent one month, up 34 the next, down 0.5 the month after that and then up 16 again....
...Last week bitcoin leapt 8 per cent on a false rumour that BlackRock had indeed secured regulatory approval....
...Ethereum, the second most actively traded cryptocurrency, also rose 8.3 per cent to $2,260 on Monday, its highest level since May last year....
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