💰 Hightower Advisors, SouthState Bank disclose investments in spot Bitcoin ETFs

Hightower Advisors disclosed a $68 million investment in spot Bitcoin ETFs in a May 6 filing. The 13F filing indicates that the firm holds 709,956 shares of Grayscale’s GBTC worth $44.8 million, 200,084 shares of FBTC worth $12.4 million, 188,397 shares of BlackRock’s IBIT worth $7.6 million, and 23,964 shares of Ark Invest’s ARKB worth $1.7 million. It also disclosed two smaller investments: 25,449 shares of Bitwise’s BITB worth $988,000 and 19,129 shares of Franklin Templeton’s EZBC worth $788,000.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

🇭🇰 Hong Kong 💰 Bitcoin ETFs See First Outflows Since Launch

The outflows solely came from ChinaAMC which saw 75.36 BTC leave the product on Monday. According to Farside data, the China AMC Bitcoin ETF saw an outflow of $4.9 million on Monday. In contrast, the other Bitcoin and Ethereum ETFs in Hong Kong reported “zero” flows apart from Bosera Ethereum ETF, which saw 3.2 million in inflow on Monday. Following their launch last week, the three Hong Kong’s Bitcoin ETFs amassed $262 million in assets under management (AUM) within their first week.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

⚪️ Robinhood's Q1 Crypto Trading Volume Surged 224% as SEC Action Looms

Robinhood (HOOD) saw a first-quarter notional crypto trading volume of $36 billion, up 224% from year-ago levels. That led to a 232% increase in crypto-related a revenue to $126 million, a primary factor, said the company, in driving overall first quarter transaction-based revenue up 59% year-over-year to $329 million.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

⚪️ Robinhood crypto trading volume up 224% YoY to $36 billion in Q1

Robinhood reported $36 billion in crypto notional trading volume during the first quarter of 2024, a 224% increase year over year. The firm also reported record net revenues of $618 million, up 40% year over year. The total revenues included $329 million derived from transaction revenues, which included revenue generated from its crypto business — making up $126 million of the total, a 232% increase year over year.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

💰 86% of Bitcoin supply still in profit despite recent price drops

Bitcoin pushed toward a new all-time high in March, a significant milestone was reached on Feb. 28, with over 99% of the Bitcoin supply in profit. This was the first time since November 2021 that over 99% of the supply had been in profit, according to Glassnode data. On Feb. 28, just 92,500 BTC were at a loss before the price dropped below $57,000, then consolidated around $62,000.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

🏦 Court should deny Coinbase's appeal, SEC says

The Securities and Exchange Commission says Coinbase' move to appeal its case with the regulator should be denied. Coinbase filed an interlocutory appeal following a judge's decision to allow a lawsuit involving the SEC and the platform to proceed without being dismissed. In the appeal, Coinbase claimed differences of opinion around the Howey Test, a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

🪙 Ark Invest Removes Staking Option From Latest Ethereum ETF Proposal

Ark Invest and 21shares have revised their proposal for a spot ethereum exchange-traded fund (ETF), removing previously included options for staking. This change marks a significant pivot from their earlier filings, which had contemplated engaging trusted staking providers to manage part of the trust’s assets.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

💰 VanEck's spot bitcoin ETF HODL reports $109 million net increase in Q1, $620 million in BTC: filing

A new filing with the Securities and Exchange Commission illuminates key figures for the spot bitcoin exchange-traded fund (ETF) HODL, issued by the digital asset arm of the investment manager VanEck. For the first fiscal quarter ending March 31, 2024, HODL's bitcoin investment amounted to 8,711 BTC, for a value of $619,067,103, and the fund had a $109 million increase in net assets, according to the Monday filing.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

🏦 Coinbase reports system-wide outage, ensures 'funds are safe'

Cryptocurrency exchange Coinbase is experiencing a “system-wide outage,” and the company is investigating the issue. The exchange stated in an X post that its team is working on a solution. “Your funds are safe,” the firm added. The crypto exchange previously encountered a temporary technical glitch in March when its trading platform experienced problems amid heavy trading, including showing some users that their account balance was $0.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

🔵 Stablecoin issuer Circle eyes US move, setting stage for rumored IPO

Stablecoin issuer Circle reportedly plans to shift its legal home to the United States from Ireland for undisclosed reasons, Bloomberg reported on May 15. Circle’s decision to shift to the US comes as a surprise, given the advantageous low corporate tax rates it enjoyed in Ireland. Additionally, the move could subject the crypto firm to a heavier tax load and confront it with the challenges of a less favorable regulatory landscape.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

🪙 Bitcoin ETF Flows Surge to Two-Week High as BTC Soared Beyond $66,000

Inflows for spot Bitcoin ETFs in the United States soared to $303 million on May 15 amid a big jump in BTC prices. It is the highest inflow since May 3 as institutional investors pivoted back to bullish in the wake of the US Consumer Price Index (CPI) data on May 15 which met expectations. Fidelity led the pack with its FBTC fund seeing $131 million in inflows for the day, its highest inflow since March 26. Bitwise’s BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain

🏦 Kraken considers delisting USDT in Europe due to MiCA rules

Kraken could drop EU support for Tether’s USDT stablecoin, Bloomberg reported on May 17. Kraken Global Head of Regulatory Strategy Marcus Hughes said the company is planning for circumstances in which it is “not tenable to list specific tokens such as USDT.” The EU’s regulatory landscape is set to change when the EU’s Markets in Crypto-Assets (MiCA) guidance comes into effect in July. MiCA will require companies that issue fiat-backed stablecoins, such as Tether, to register as electronic money institutions (EMIs) and meet other requirements.

Source

https://www.tg-me.com/Crypto_Bitcoin_Blockchain