News
BlackRock’s Bitcoin ETF now holds over 50% of the market despite rising outflows, while Bitcoin’s price remains resilient amid industry concerns over price action.
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Bitcoin Investment Trust News
Bitcoin Investment Trust (BIT) is an open-ended private trust. BIT was launched in 2013 by Barry Silbert from Digital Currency Group. Currently, Bitcoin Investment Trust is sponsored by Grayscale Investments LLC. BIT is a wholly-owned SecondMarket Holdings, Inc. subsidiary and affiliate. According to the Bitcoin Investment Trust’s information given on their official website, the company enables investors to gain profit from Bitcoin price changes without the need of buying and storing cryptocurrency. Bitcoin Investment Trust’s shares were the first securities pegged by Bitcoin and traded publicly. Bitcoin Investment Trust’s stocks have officially received the ticker ‘GBTC.’ Bitcoin Investment Trust, whose value of share will be equal to about one-tenth of BTC’s price minus operational costs, has eliminated all regulatory constraints on its way to trade.
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Arizona’s Bitcoin reserve bill aims to enable public funds and pensions to invest in Bitcoin, marking a significant shift in cryptocurrency adoption and financial strategy.
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Intesa Sanpaolo has become Italy’s first bank to make a Bitcoin investment after buying more than $1 million worth of BTC during a period of growing institutional interest.
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James Howells has lost his legal case to recover a $770 million Bitcoin hard drive from a landfill as a judge cites no realistic chance of success.
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The ETF, which Grayscale spun off from its older Grayscale Bitcoin Trust, now holds around $4 billion in assets.
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The recommendation applies to investors who wish to hold Bitcoin, the asset manager said.
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On the yearly chart, Bitcoin rose 146% and MicroStrategy gained 599% as more retail investment increased MicroStrategy’s volatility compared to BTC.
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The asset manager is extending its fee waiver until January 2026 for up to $2.5 billion in assets under management.
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DeTrust Wallet will enable the creation of complex inheritance plans, including designated spending funds.
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Bitcoin could be on track for a September breakout to new record highs, but it faces significant resistance around $65,000.
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Spot Ether ETFs in the US face significant outflows, unlike Bitcoin ETFs, which continue to attract investments.
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The market could even see the launch of new crypto ETFs with mixed exposure to Bitcoin and Ether, according to prominent ETF analyst Eric Balchunas.
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Corporations could pave the way toward more mainstream crypto industry trust, according to the co-founder of Trust Square.
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BlackRock’s Bitcoin ETF inflow streak ended on April 24 after IBIT recorded no inflows for the day, according to data from Farside.
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As a direct result of the massive inflows into the BTC ETFs and a supporting bull run, the daily inflows of capital being stored by the Bitcoin network just hit $2 billion per day, marking yet another milestone for the ecosystem.
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