💰 CME gears up to launch spot Bitcoin trading, challenging Binance’s dominance

The Chicago Mercantile Exchange (CME) is gearing up to introduce spot Bitcoin trading, responding to the growing demand for the leading digital asset on Wall Street, the Financial Times reported on May 16. CME is the world’s largest futures BTC trading medium and has been in talks with crypto traders to establish a regulated marketplace for spot BTC trading. The platform is anticipated to operate through EBS, a Swiss currency trading platform known for its strict regulations on crypto asset trading.

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💰 JPMorgan revises bitcoin production cost estimate to $45,000

JPMorgan has revised its central estimate of bitcoin production cost to $45,000 from the previous $42,000 projection amid a shift in bitcoin mining hashrate. This appears to be happening, albeit with some delay," JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Thursday. "The current hashrate and power consumption put our central estimate of the bitcoin production cost to around $45,000, i.e., well below current prices" of around $65,000, the analysts added.

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JUST IN: 🇺🇸 Founder of SkyBridge Capital, speaks on doing the homework on Bitcoin and how skeptics are now embracing $BTC for the long term

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💰 Morgan Stanley Latest Bank to Disclose Spot Bitcoin ETF Holdings for Clients

Morgan Stanley was the owner of $269.9 million of Grayscale’s Bitcoin Trust (GBTC) as of March 31, a 13F filing showed. It is important to note that these purchases don't necessarily represent the banks' views on the direction of bitcoin's price, but instead were likely either made on behalf of the banks' wealth management clients or necessary for market making and/or ETF authorized participant duties.

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💰 Bitcoin Selling Pressure Subsides as Demand Stabilizes: CryptoQuant

The price of bitcoin (BTC) has surged past the $60,000 level to the $67,000 zone due to news of a lower-than-expected inflation rate in the United States. According to the latest CryptoQuant weekly report, bitcoin’s latest rally has also been sustained by a recent decline in selling pressure. The fall in BTC selling pressure can be seen in the on-chain activity of short-term holders and the balances on over-the-counter (OTC) desks.

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💰 Number of new Bitcoin wallets drops to lowest level since 2018

Six months ago, excitement around spot Bitcoin ETFs, developments in the Bitcoin ecosystem such as Ordinals, and the upcoming halving drove the average weekly number of new Bitcoin addresses to approach its highest levels since its all-time high value in December 2017. Yet six months on, just like in early 2018, the number of new addresses joining the network has cratered as the fervor around new Bitcoin projects dies down.

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💰 BTC surges 6% to touch $70k as Ethereum ETF rumors cause market frenzy

Bitcoin (BTC) surged past the $70,000 mark on May 21, marking a significant milestone driven by a flood of investment into spot Bitcoin exchange-traded funds (ETFs) and a broader market rally. Ethereum (ETH) arguably led the rally over the past couple of hours — experiencing a staggering 14.5% rise within an hour on Monday amid speculation that the US SEC might approve spot Ethereum ETFs.

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🪙 Ethereum ETFs may capture only 15% of Bitcoin ETF assets, says Bloomberg analyst

Bloomberg Senior ETF Analyst Eric Balchunas tempered the excitement over spot Ethereum exchange-traded funds (ETFs), suggesting they may attract only a fraction of the investments seen in Bitcoin ETFs. On May 20, reports indicated a 75% chance that the US Securities and Exchange Commission (SEC) would approve an ETH ETF, starkly contrasting the previous pessimism surrounding the financial instruments.

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💰 WisdomTree first to get nod from FCA on spot Bitcoin ETP ahead of multi-product UK launch

WisdomTree has received approval from the Financial Conduct Authority to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange. This approval allows WisdomTree to introduce the WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum ETPs, targeting the May 28 lifting of UK restrictions. These ETPs, available exclusively to professional investors, have a management expense ratio of 0.35%, making them reportedly among the lowest fee institutional-grade crypto ETPs in Europe.

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💰 HAPPY BITCOIN PIZZA DAY 🍕

Laszlo made the first real-world transaction on May 22, 2010 using Bitcoin to purchase two Papa John's pizzas for 10,000 $BTC

Those 10,000 bitcoins are worth $701 million today

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💰 Bitcoin hash rate and difficulty rise following price increase on back of Ethereum ETF speculation

Bitcoin mining difficulty rose 1.5% to 84.4 trillion on Thursday after the network’s seven-day moving average hash rate moved back above 600 EH/s. The last Bitcoin difficulty adjustment on May 9 saw the metric fall 5.9%, the largest drop since the bear market lows of December 2022. The impact of reduced miner subsidy rewards following Bitcoin’s fourth halving event on April 20 began to take hold after an initial boost in transaction fee rewards stemming from the hype surrounding Runes subsided.

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🇺🇸 U.S. 💰 Bitcoin ETF Holdings Hit New High of More Than 850K Tokens

U.S.-listed spot bitcoin exchange-traded funds now hold a record 850,707 BTC in custody, beating a previous high above 845,000 from early April. Among those funds, Grayscale’s GBTC remains the biggest holder of bitcoin with 289,300 tokens worth more than $20 billion, followed closely by BlackRock’s IBIT at 283,200 and $19.6 billion, according to data tracked by HODL15Capital.

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💰 Bitcoin is up 200% since Jim Cramer said it is about to go down big

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🇺🇸 Donald Trump says "I will ensure that the future of crypto and Bitcoin will be made in the USA…I will support the right to self custody to the nations 50 million crypto holders."

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💰 Robert Kiyosaki Advises Buying Bitcoin Before Price Explodes — Warns of Bonds Crashing

Rich Dad Poor Dad author Robert Kiyosaki has warned investors about the bond market crashing, urging them to invest in “safer real assets,” like bitcoin, before their prices “explode.” He criticizes financial planners for promoting bonds as safe investments, predicting significant losses for investors when AAA bonds and commercial real estate crash. Meanwhile, Kiyosaki expects bitcoin’s price to reach $2.3 million.

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💰 Argentina to Collaborate With El Salvador in Adopting Bitcoin: Report

Argentinian authorities are looking to work with officials in the Bitcoin-friendly El Salvador to enhance their adoption of the leading digital asset. According to an official report from the Argentinian National Securities Commission (CNV), the agency’s president and vice president, Roberto Silva and Patricia Boedo, held a meeting with Juan Reyes, the president of El Salvador’s National Digital Assets Commission (CNAD), last week to discuss the Central American country’s experience in adopting Bitcoin.

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💰 Bitcoin ETF approval was the ‘crossing of the chasm’ for its asset class size, says Michael Saylor

MicroStrategy Chairman Michael Saylor said the Bitcoin ETF approvals in January were not only important but cemented Bitcoin’s size as an asset class. “The single most important thing that happened in this epic was the approval of the spot Bitcoin ETFs,” said Saylor on the What Bitcoin Did podcast. “That was the crossing of the chasm which said that Bitcoin is not a multi-one hundred billion dollar asset class, bitcoin is a ten to 100 trillion dollar asset class.”.

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💰 Healthcare tech company shares surge 27% after announcing plans to buy bitcoin with cash reserves

Medical device maker and healthcare technology company Semler Scientific announced Tuesday it plans to buy bitcoin with its cash reserves and, almost immediately, the company's shares rose by as much as 27%. Semler Scientific's board of directors had "adopted bitcoin as its primary treasury reserve asset" and "purchased 581 bitcoins for an aggregate amount of $40 million, inclusive of fees and expenses," the company said.

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