Grayscale must await final regulatory signoff on its registration filing before listing the fund The United States Securities and Exchange Commission (SEC) approved Grayscale’s newest spot Bitcoin (BTC) exchange-traded fund (ETF) — Grayscale Bitcoin Mini Trust (BTC) — for listing on the New York Stock Exchange’s (NYSE) Arca electronic trading platform, according to a July 26 filing.  The approval is an important milestone for Grayscale, which announced plans on July 19 to spin off a portion of its flagship Bitcoin fund, Grayscale Bitcoin Trust (GBTC), into the new Mini Trust. “Grayscale ..read more

The two Republican Senators claimed that if their party wins control of the Senate, they will stop the S.E.C.’s alleged “regulation by enforcement.” Republican US Senators Cynthia Lummis and Tim Scott spoke at the Bitcoin 2024 conference on July 26, stating that the current leadership of the Senate Banking Committee is “in the way” of American innovation, especially as it relates to Bitcoin. “We have to get rid of the folks who are in the way,” Tim Scott stated, implying that voters should throw out the Democratic majority in the November elections. Senator Lummis claimed that if Republicans ..read more

The former National Security Agency contractor did not name any particular US or international lawmakers but warned many didn’t belong to the “tribe” of Bitcoiners. Edward Snowden, the former National Security Agency contractor who has been in exile in Russia since 2013, warned attendees at the Bitcoin 2024 conference about politicians trying to woo them over crypto. In a July 26 speech held virtually at the crypto conference, Snowden said many lawmakers were trying to earn the “love” of Bitcoiners, hinting at those attending the Nashville event. He did not explicitly refer to US or inte ..read more

"Triple maxi" Bitcoin bulls could earn a net worth of $214 million by 2045, Saylor said. Michael Saylor, the outspoken co-founder of business intelligence company MicroStrategy, predicted Bitcoin (BTC) will reach $13 million per coin by 2045 during a mega-bullish keynote speech on July 26 at the Bitcoin 2024 conference. Saylor's forecast — which upgrades his $10 million estimate in June  — is only a base case. “It could be a $3 million bear case, it could be a $49 million bull case,” according to Saylor, who urged listeners at the Nashville, Tennessee event to become “triple maxi” B ..read more

Bitcoin currently has a market capitalization of roughly $1.3 trillion, while the entire crypto market cap is roughly $2.4 trillion. On day 2 of the Bitcoin 2024 conference in Nashville Tenessee, Anthony Scaramucci shared his belief that Bitcoin will overtake the total market capitalization of gold. The SkyBridge Capital founder explained that Bitcoin (BTC) should not trade to a market cap similar to chipmaking giant Nvidia or Apple because Bitcoin is "an asset class" and not a company. According to Scaramucci, the current market capitalization of gold rests between $15 trillion-$16 trillion ..read more

Bioniq CEO Bob Bodily talks about Ordinals and the need for covenants on the Bitcoin network at Bitcoin 2024. The Bitcoin network's OP_CAT upgrade has sparked new interest in building apps on Bitcoin, as it may reintroduce functionality that Satoshi Nakamoto removed in 2010. At the Bitcoin2024 event, Bioniq CEO Bob Bodily said hundreds of developers are “shouting from the rooftops” about the potential benefits. Bioniq is a marketplace for Ordinals — Bitcoin non-fungible tokens (NFTs) — that do not incur gas fees. Bioniq began development in February 2023, a month after the introduction of Ord ..read more

In an SEC filing, the state's pension fund disclosed holding 110,000 shares of the ARK 21Shares Bitcoin ETF as of June 30. The State of Michigan Retirement System reported investments in a spot Bitcoin exchange-traded fund, or ETF, offered by ARK 21Shares. In a June 30 filing with the United States Securities and Exchange Commission, Michigan’s state pension fund disclosed holding 110,000 shares of the ARK 21Shares Bitcoin (BTC) ETF under the ticker ARKB. The approximate value of the shares at the time of filing was roughly $6.6 million — a small percentage of the fund’s billions of dollars i ..read more

The Bitcoin miner is seeking partners to build Bitcoin payment apps, a company executive said. Bitcoin miner Marathon Digital (MARA) is seeking partnerships with blockchain developers to build Bitcoin (BTC) Layer-2 solutions for cross-border BTC payments, Julian Duran, Marathon’s product lead for side chains, said at the Bitcoin 2024 conference on July 26 in Nashville, Tennessee.  Cross-border payments are “the biggest use-case for blockchain, generally speaking, and especially for Bitcoin,” according to Duran, who also contributes to Anduro, Marathon’s in-house Bitcoin Layer-2. He said ..read more

Galaxy launched a $113 million crypto fund on the week of the debut of the first spot Ether ETFs in the US. Nansen has also launched the industry’s first Ether ETF analytics dashboard. Welcome to Finance Redefined, your weekly dose of essential decentralized finance insights — a newsletter crafted to bring you the most significant developments from the past week. This week marked another historic milestone for the crypto industry. On July 23, the first spot Ether (ETH) exchange-traded funds (ETFs) launched for trading in the United States. The debut of spot ETH ETFs was accompanied by other k ..read more

Bitcoin price is being driven higher by a new set of bullish catalysts. Bitcoin (BTC) rallied 6% on July 26 as it flirted with the $68,000 resistance level. Interestingly, this movement coincided with increased buying pressure on US Treasurys, as the US 5-year yield dropped to its lowest level since March 2024. Similarly, gold, considered the world’s largest reserve asset, rose 1.4% on July 26, approaching the $2,400 mark. Bitcoin’s gains might seem counterintuitive given the increased investor appetite for fixed-income securities and gold, but the answer lies in the performance of tech stock ..read more