The Block
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the SEC said.
The price of bitcoin declined below $41,000 for the first time since December as spot ETFs finished their fifth day of trading.Bitcoin has declined 10.8% over the past week.
Quick Take Should GBTC investors continue to take profits, it might exert additional downward pressure on bitcoin, according to JPMorgan analysts. The analysts also reiterated that the chance of a spot Ethereum ETF being approved by May is limited.
Quick Take After each financial crisis, new regulations are adopted, such as the Dodd Frank Act, said Treasury’s Assistant Secretary for Financial Institutions Graham Steele. Steele, as well as Ripple CEO Brad Garlinghouse later in the day, both poked fun at Dogecoin.
A third of Robinhood users who invested in spot bitcoin ETFs sold part of their existing portfolio to do so.BlackRock is the most active spot bitcoin ETF, in terms of volume, on the platform.
Bitcoin has bypassed silver to become the second largest ETF commodity asset class in the U.S. in terms of assets under management.
Quick Take Flowdesk has raised a $50 million Series B round from Cathay Innovation, Ripple, Bpifrance and others. The round brings the crypto market maker’s valuation to over $250 million, two sources told The Block.
Quick Take Conflux Network introduced an “EVM-compatible” Bitcoin solution. It will be used to interact with Bitcoin, allowing for asset interoperability.
The launch of spot bitcoin ETFs in the U.S. is likely to redistribute the supply of bitcoin from whales to new entrants, according to blockchain analytics firm Nansen.Increased liquidity from investors may lead to lower volatility over time, yet significant fluctuations in risk-off events are still expected, Principal Research Analyst Aurelie Barthere said.
Quick Take Delphi Labs and Astroport Foundation have launched an inscriptions-based protocol, Asteroid, for the Cosmos Hub network. The first inscription-based Asteroids (ROIDS) token was rolled out as a proof of concept. Delphi Labs emphasizes Asteroid’s potential as a “metaprotocol” with applications beyond images and tokens.
