The US Securities and Exchange Commission (SEC) has delayed decisions regarding options trading on spot Bitcoin exchange-traded funds (ETFs) and is expected to deny the proposals for Ethereum ETFs. These decisions reflect the cautious approach of the regulatory body towards cryptocurrency products in the financial markets. SEC Might Delay Bitcoin and Ethereum ETFs The SEC has postponed its decision on the approval of options trading for spot Bitcoin ETFs. This delay, announced in a recent filing, calls for further public input on the matter. Industry participants and observers are now invited ..read more

BlackRock’s iShares Bitcoin Trust (IBIT) has recorded no new inflows for the first time in over two months. This marks a significant pause in its steady growth. This stagnation comes amid broader fluctuations within the US spot Bitcoin exchange-traded funds (ETFs) market, contrasting sharply with the excitement in overseas markets like Hong Kong. US Spot Bitcoin ETFs Stall as Hong Kong Innovates On April 24, the cumulative daily inflow of US Bitcoin ETFs dipped to a negative $120.64 million, according to data from SoSo Value. Notably, IBIT, which previously enjoyed a continuous inflow for 71 t ..read more

In an ambitious stride, Morgan Stanley is setting the stage to expand its Bitcoin exchange-traded funds (ETFs) offerings significantly. According to the latest report, the financial behemoth is poised to permit its approximately 15,000 brokers to recommend Bitcoin ETFs to clients proactively. This move could dramatically widen consumer access and potentially boost the demand for these digital asset funds. Morgan Stanley Chooses the Careful Approaches Previously, since the regulatory green light in January, Morgan Stanley, like its industry counterparts, limited its Bitcoin ETF dealings to unso ..read more

Jack Dorsey, CEO of Block, has announced the completion of an advanced Bitcoin mining chip, setting the stage for the launch of a comprehensive Bitcoin mining system. This development, achieved with a three-nanometer (nm) design, marks a pivotal moment in Block’s ambitious project aimed at decentralizing Bitcoin mining hardware supply and hashrate distribution. Jack Dorsey’s 3 NM Bitcoin Mining Chip Dorsey’s team has successfully completed a full tapeout of the design in collaboration with a leading global semiconductor foundry. This advancement follows their previous prototype, a five-nanomet ..read more

In a pioneering move to foster sustainability in the blockchain industry, PayPal’s Blockchain Research Group, in partnership with Energy Web and DMG Blockchain Solutions Inc., is incentivizing Bitcoin miners to adopt green energy practices.  This initiative leverages cryptoeconomic incentives to encourage using low-carbon energy sources, a crucial step given Bitcoin’s significant environmental impact.  Accelerating Sustainable Bitcoin Mining Annually, Bitcoin mining is estimated to produce 85 million metric tons of carbon dioxide. This emphasizes the need for sustainable practices in ..read more

BlackRock’s iShares Bitcoin Trust (IBIT) stands out among other spot Bitcoin exchange-traded funds (ETFs). It nears a remarkable 70 consecutive days of investment inflows. This persistent demand highlights a unique confidence among investors in the wake of Bitcoin’s latest halving. BlackRock Bitcoin ETF Thrives for 70 Days As the largest spot Bitcoin ETF in the United States by assets under management, IBIT showcased robust acquisition trends despite a general slowdown in the market. On April 19, the ETF recorded nearly $30 million in inflows, starkly contrasting the broader sector’s cautious ..read more

Following a dramatic spike, Bitcoin transaction fees have significantly decreased, settling at levels that provide relief to users. Last week, the network witnessed fees soaring to unprecedented heights, with medium-priority transactions hitting over $146 and high-priority ones reaching $170. However, recent data indicates a steep decline. Bitcoin Transaction Normalize Post-Halving The Bitcoin mempool, which holds all valid transactions awaiting network confirmation, currently lists the transaction fees for medium and high-priority transactions at $10.85 and $11.32, respectively. This reductio ..read more

In the wake of the latest Bitcoin halving event, a significant shift in the cryptocurrency mining landscape is emerging, according to a recent report by CoinShares. As the halving reduces the rate of Bitcoin supply growth by 50%, miners are confronted with soaring operational costs, prompting some to consider alternative revenue streams such as artificial intelligence (AI). Post-Halving Spike: Bitcoin Mining Costs to Reach $53,000 The report highlights a nearly doubling of mining costs, projecting that the average cash cost of production will jump from $29,500 to approximately $53,000 per Bitc ..read more

The trustee overseeing the bankruptcy proceedings of the defunct crypto exchange Mt. Gox has reportedly taken a significant step forward in facilitating Bitcoin repayments. Several users of the social media platform Reddit reported that Mt. Gox’s official website was amended to include crypto payment options. Mt. Gox’s Bitcoin Payout The recent update has sparked mixed reactions among creditors. While some remain skeptical, others speculate that the crypto exchange might initiate repayments sooner than expected, potentially concluding before October 31, 2024. The repayment plan entails distrib ..read more

Bitcoin mining operations reached unprecedented daily revenue levels immediately following the halving, dispelling concerns over their viability. According to available data, miners collectively earned around $107 million from block rewards and transaction fees. This figure significantly surpasses the previous record of $77 million established in April 2021. Why Bitcoin Miners’ Revenue Soared The lion’s share of this earning, approximately 75% or $80 million, stemmed from transaction fees. The remaining $27 million originated from the block subsidy. Notably, Bitcoin miners earn compensation fo ..read more