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Bitcoin is currently experiencing a surge in price, fueled by the anticipation of a Federal Reserve rate cut in September. This rally comes after a brief pullback from its recent highs near $70,230. The prospect of lower interest rates is weakening the US dollar, making Bitcoin a more attractive investment for those seeking returns. This

Monochrome Asset Management, an Australian-based firm, announced on June 2 that its Bitcoin exchange-traded fund (ETF), IBTC, will soon be available for trading. This launch marks the debut of the first Bitcoin ETF in Australia. The IBTC will start trading on the Cboe Australia exchange on Tuesday, June 4, with a management fee of 0.98%.

According to David Krause, an ex-finance professor from Marquette University, Wisconsin’s modest investment in Bitcoin ETFs could significantly expand. In a PBS interview, Krause explained that the state’s $160 million investment represents only an initial step. He described it as “just a toe in the water” and predicted that more substantial investments are likely to

The FTX estate, managed by CEO John Ray III, has sold its remaining shares in the AI startup Anthropic, renowned for its chatbot Claude, according to recent bankruptcy filings. The estate sold its remaining 15 million shares for about $30 each, generating proceeds exceeding $450 million. This sale brings the total earnings from FTX’s initial

Bitcoin’s exchange balances have plummeted to their lowest level since March 2018, falling below 2.3 million BTC. This significant reduction, fueled by major outflows from prominent exchanges like Binance and Coinbase, suggests a shift towards long-term holding strategies. As large holders, or “whales,” move their assets to private wallets, there is a growing anticipation of

Cathie Wood’s Ark Investment Management has withdrawn from the race to launch an exchange-traded fund (ETF) that directly invests in Ether, the second-largest cryptocurrency. An amended prospectus document, known as Form S-1, was filed with the US Securities and Exchange Commission (SEC) on Friday. This document revealed that Ark’s name was removed from the application

Bitcoin (BTC) has recently struggled to maintain its bullish momentum, trading around $67,700. This decline is due to several factors, including a $300 million hack at a Japanese cryptocurrency exchange and President Biden’s veto of a bill that targeted SEC crypto regulations. Additionally, Vitalik Buterin’s insights on Bitcoin’s scaling disputes emphasize the need for new

Australia’s cryptocurrency market has seen remarkable growth in ownership and adoption over the years. According to Finder’s Crypto Adoption November 2022 study, Australia ranks ninth globally in terms of cryptocurrency adoption, with 17% of Australians owning cryptocurrency, exceeding the global average of 15%. This growth is largely driven by a younger demographic, with a significant

Bitcoin’s market outlook has garnered significant attention following Elon Musk’s recent tweet denying any discussions about cryptocurrencies with former U.S. President Donald Trump. Musk stated, “I’m pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from the government to the people, which crypto can do.”

Bloomberg ETF analyst James Seyffart has asserted that the recent approval of spot Ethereum ETFs was likely influenced by political factors rather than purely financial considerations. Speaking with Rachel Wolfson from Cryptonews at the Consensus 2024 event, Seyffart elaborated on the approval process and the timeline involved, highlighting the impact of the political climate on