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🇦🇮 Australia’s largest stock exchange could list approved spot 💰 bitcoin ETFs by end of 2024: Bloomberg
Australia’s ASX stock exchange is expected to list its first approved batch of spot bitcoin exchange-traded funds by the end of 2024, according to Bloomberg. Its report, citing sources familiar with the matter, noted that several issuers, including VanEck and local firms BetaShares and DigitalX, have already submitted their ETF applications earlier this year. ASX is the top equity exchange in Australia, managing about 80% of the local trades.
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Australia’s ASX stock exchange is expected to list its first approved batch of spot bitcoin exchange-traded funds by the end of 2024, according to Bloomberg. Its report, citing sources familiar with the matter, noted that several issuers, including VanEck and local firms BetaShares and DigitalX, have already submitted their ETF applications earlier this year. ASX is the top equity exchange in Australia, managing about 80% of the local trades.
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Michael Saylor's firm MicroStrategy released Monday new figures on its bitcoin holdings, alongside its first-quarter 2024 earnings report. The firm holds a total of 214,400 bitcoin valued at $7.54 billion overall, or $35,180 per token, the quarterly report notes. Since the end of the fourth quarter, the firm bought 25,250 bitcoin for $1.65 billion at $65,232 per BTC. Saylor noted in a social media post that the firm acquired an additional 122 BTC for $7.8 million in April.
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🇭🇰 Hong Kong's six spot bitcoin, ether ETFs see $11 million in volume on first trading day
Hong Kong’s six new spot bitcoin and ether exchange-traded funds recorded over HK$87.5 million ($11.2 million) in trading volume on their first trading day on Tuesday — a figure that pales in comparison to the $4.6 billion first-day volume for the 11 spot bitcoin ETFs in the United States in January. China Asset Management (ChinaAMC) told The Block that its spot bitcoin ETF secured $121.7 million in assets under management (AUM) as of the end of the first trading day, while its spot ether ETF had $20.4 million in AUM.
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Hong Kong’s six new spot bitcoin and ether exchange-traded funds recorded over HK$87.5 million ($11.2 million) in trading volume on their first trading day on Tuesday — a figure that pales in comparison to the $4.6 billion first-day volume for the 11 spot bitcoin ETFs in the United States in January. China Asset Management (ChinaAMC) told The Block that its spot bitcoin ETF secured $121.7 million in assets under management (AUM) as of the end of the first trading day, while its spot ether ETF had $20.4 million in AUM.
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Bitcoin (BTC) reclaimed the crucial $60,000 support level in a show of resilience after bears made an attempt to sweep the lows set in March at $59,000, based on CryptoSlate data. The flagship crypto was trading at $60,800 as of press time after falling more than 5% to roughly $59,100 on April 30 as New York closed out the trading day. The wider crypto market also saw significant losses for the day, with most of the major caps down between 5% to 10%.
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Former Binance CEO Changpeng Zhao said the crypto industry has entered the next phase where “compliance is super important.” Last year, Zhao admitted guilt to federal money laundering charges. Prosecutors spotlighted a corporate culture at Binance that neglected fraud prevention in pursuit of expansion, resulting in his departure from the company and a hefty $150 million fine. This sentencing arrives at a critical juncture for the emerging industry, which is witnessing intensified regulatory scrutiny worldwide.
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The largest American cryptocurrency exchange, Coinbase, has added support for the Lightning Network on its platform to enable faster and cheaper payments. According to a blog post, the Lightning Network integration on Coinbase will reduce the cost of sending bitcoin (BTC) globally by 20x compared to the 2% charged on United States credit card transactions and the $30 paid for wire transfers.
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Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, totaling over $191 million. Grayscale’s Bitcoin Trust (GBTC) followed closely with withdrawals exceeding $167 million, while Blackrock’s IBIT reported its first negative outflow, nearing close to $37 million.
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During the Bitcoin for Corporations segment at the Microstrategy World 2024 event in Las Vegas, Marcus shared insights on the fusion of AI and bitcoin (BTC). He argued that BTC could eliminate the inefficiencies and “friction” inherent in fiat currencies, predicting that AI agents will adopt this “digitally native” medium for value exchange.
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Arthur Hayes, the co-founder and former CEO of BitMEX who now manages a family office named Maelstrom, said he expects bitcoin to rally back to $60,000, then range between $60,000 and $70,000 until August. In a blog post early Friday, Hayes said the slow addition of billions of dollars of liquidity each month would dampen negative price movements going forward, reversing the common sentiment on the seasonality of markets by suggesting “buy in May, go away.”
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The price of bitcoin (BTC) increased by 4.5% against the U.S. dollar on Friday, rebounding from last week’s decline when it fell beneath the psychological $60,000 mark. Despite this 4.5% rise over 24 hours, BTC prices remain 4.3% below their level from seven days prior. After stabilizing for nearly two days, the upward movement of BTC began at 8 a.m. Eastern Time (ET) on Friday.
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A cryptocurrency investor has fallen victim to an address poisoning attack, resulting in a staggering loss of $70 million worth of Wrapped Bitcoin (WBTC). The incident, which unfolded over the course of around six hours, has sent shockwaves through the cryptocurrency community. According to a post by Lookonchain on the X, the unfortunate investor created a new address, “0xd9..,” and transferred a small amount of Ethereum (ETH), approximately 0.05 ETH, to this newly generated destination.
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🇪🇺 European Banking Giant Embraces BlackRock’s 💰 Bitcoin ETF
BNP Paribas, the second largest bank in Europe, took a major step in the digital asset market by buying BlackRock’s Spot Bitcoin ETF shares. According to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC), BNP Paribas bought 1,030 IBIT shares of BlackRock during the first quarter of 2024. Furthermore, the multinational bank spent over $40.47 per share, totaling $41,684 for the acquisition. This amount is lower than the price of a single bitcoin, which is currently trading at over $58,000.
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BNP Paribas, the second largest bank in Europe, took a major step in the digital asset market by buying BlackRock’s Spot Bitcoin ETF shares. According to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC), BNP Paribas bought 1,030 IBIT shares of BlackRock during the first quarter of 2024. Furthermore, the multinational bank spent over $40.47 per share, totaling $41,684 for the acquisition. This amount is lower than the price of a single bitcoin, which is currently trading at over $58,000.
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The Ethereum network has seen the daily amount of ETH burned drop to its lowest level this year — mainly driven by a recent drop in average gas fees. Currently, gas fees are hovering between 5 and 10 gwei, which is one of the lowest levels seen year-to-date and affecting ETH issuance. The decrease in network fees has resulted in fewer ETH being burned. On Sunday, the amount of ETH burned was a mere 610 ETH — marking a record low for this year as Ethereum’s gas fees remained minimal.
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🇺🇸 SEC punts Galaxy spot 🪙 Ethereum ETF decision to July
The United States Securities and Exchange Commission has delayed its decision on Galaxy Invesco’s application for a spot Ether exchange-traded fund (ETF). “The Commission finds that it is 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 and the issues raised therein,” the SEC wrote.
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The United States Securities and Exchange Commission has delayed its decision on Galaxy Invesco’s application for a spot Ether exchange-traded fund (ETF). “The Commission finds that it is 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 and the issues raised therein,” the SEC wrote.
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🔸️Crypto 🔹️Nfts 🔸️Metaverse
🇺🇸 SEC punts Galaxy spot 🪙 Ethereum ETF decision to July The United States Securities and Exchange Commission has delayed its decision on Galaxy Invesco’s application for a spot Ether exchange-traded fund (ETF). “The Commission finds that it is appropriate…
Binance CEO Richard Teng has spoken out on the ongoing detention of colleague Tigran Gambaryan in Nigeria, publicly claiming for the first time the crypto exchange’s compliance officer is “innocent and must be released.” “To invite a company’s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide,” Teng wrote in a blog post early Tuesday.
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🇭🇰 Crypto Trading Firm Wintermute to Provide Liquidity for Hong Kong Bitcoin and Ether ETFs
Looking to strengthen its market share in the Asia region, Wintermute will be a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds, the company announced Wednesday. The London-based firm is partnering with OSL Digital Securities and HashKey HK Exchange, both of which are sub-custodians of virtual asset trading platforms facilitating the operation of the ETFs, according to the statement.
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Looking to strengthen its market share in the Asia region, Wintermute will be a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds, the company announced Wednesday. The London-based firm is partnering with OSL Digital Securities and HashKey HK Exchange, both of which are sub-custodians of virtual asset trading platforms facilitating the operation of the ETFs, according to the statement.
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FTX plans to give 98% of its creditors at least 118% of allowed claims, the bankrupt exchange said in its reorganization plan released Tuesday. Other creditors will receive full repayment and billions more in compensation for the time value of their investments, the company said. “We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” FTX CEO John J. Ray III said in the release.
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🇺🇸 SEC argues $2 billion penalty against Ripple is needed, slams $10 million counterproposal
The Securities and Exchange Commission is pushing back against Ripple's claim that it should pay fewer fines, according to a recent court filing. The SEC has said Ripple should pay close to $2 billion in fines for selling to institutional investors. In its opposition motion filed last month, Ripple argued that the figure should be closer to $10 million. The SEC noted its proposed penalty was large but said Ripple's proposed penalty would be a "slap on the wrist" in a filing posted on Tuesday.
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The Securities and Exchange Commission is pushing back against Ripple's claim that it should pay fewer fines, according to a recent court filing. The SEC has said Ripple should pay close to $2 billion in fines for selling to institutional investors. In its opposition motion filed last month, Ripple argued that the figure should be closer to $10 million. The SEC noted its proposed penalty was large but said Ripple's proposed penalty would be a "slap on the wrist" in a filing posted on Tuesday.
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Optimism noted that Layer 3 chains can now join the Superchain by building on the OP Stack and sharing sequencer revenue with its governance body — Optimism Collective. Layer 3 builders who join the Superchain will have access to retroactive funding, airdrops, and growth campaigns, along with a broad network of developers, Optimism said. A Layer 3 chain is a network that settles on one of Optimism’s Layer 2 chains: OP Mainnet, Base, Mode, and others.
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Core Scientific reported a $210.7 million net income for the first quarter on May 8. The change represents an increase of $211.1 million from the first quarter of 2023, when the company reported a net loss of $0.4 million. The company also reported $179.3 million in first-quarter revenue, including $150 million from crypto mining and $29.3 million from hosting. The change in total revenue marks an increase of $58.6 million compared to the first quarter of 2023 when the company reported revenue of $120.6 million.
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