Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

Veröffentlicht am

Bitwise files new ETF targeting firms with large Bitcoin holdings

  • The Bitwise Bitcoin Standard Corporations ETF would invest in businesses that “hold at least 1,000 Bitcoin”
  • Companies need to have a market capitalization of at least $100 million to be included in Bitwise’s proposed ETF
  • KULR Technology Group started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million

Bitwise has filed a proposal with US regulators to launch a new exchange-traded fund (ETF) to invest in publicly traded companies that hold substantial Bitcoin reserves.

Under the Bitwise Bitcoin Standard Corporations ETF, the ETF issuer would invest in businesses that “hold at least 1,000 Bitcoin in its corporate treasury,” according to a December 26 filing with the US Securities and Exchange Commission (SEC).

To further qualify to be included in the ETF, companies need to have a market capitalization of at least $100 million, an average daily liquidity of $1 million or more, and a public free float of less than 10%.

The proposed ETF from Bitwise would assign stock weight based on the market value of a company’s Bitcoin holdings, ensuring this is capped at 25%.

Reaching new heights

The news comes as Bitcoin has experienced a rise in value following the US election win of President-elect Donald Trump. At its peak, Bitcoin reached a new all-time high above $107,000 earlier this month. In a client memo in November, Bitwise’s CIO Matt Hougan said the US election was either going to be a “speed bump” or a “wind gust” for the crypto market.

Significantly, in recent weeks, more companies have been buying Bitcoin to push up stock prices. On December 23, MicroStrategy announced on X that it now holds 444,262 Bitcoin after acquiring a further 5,262 Bitcoin for $561 million.

In other related news, KULR Technology Group announced on December 26 that it had started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million.

The post Bitwise files new ETF targeting firms with large Bitcoin holdings appeared first on CoinJournal.

Veröffentlicht am

KULR launches Bitcoin treasury with $21m BTC purchase

  • The $21 million BTC purchase follows the KULR’s announcement on Dec. 4.
  • Other companies to launch a Bitcoin treasury strategy in recent weeks include Rumble, Marathon Digital, Semler Scientific and Thumzup.
  • MicroStrategy is the biggest corporate holder of Bitcoin with over 444k BTC

KULR Technology Group, Inc., listed on the New York Stock Exchange, is the latest tech company to adopt Bitcoin as a treasury asset.

A few weeks after the energy management platform announced plans to add BTC to its treasury, the company announced on Dec. 26 that it had officially begun the initiative. KULR said in a press release that its first purchase involved 217.18 bitcoin acquired for $21 million.

KULR’s bitcoin bag was acquired at the average purchase price of $96,556.53 per BTC.

On Dec. 4, when the publicly-listed company disclosed its Bitcoin treasury strategy, it revealed plans that included allocating up to 90% of the firm’s surplus cash to the flagship cryptocurrency.

With sentiment extremely bullish amid the anticipation around pro-crypto Donald Trump’s administration, several companies have adopted or disclosed plans to add BTC to their treasury strategies..

These include Rumble, Boyaa Interactive, Thumzup and BTC miner Marathon Digital.

Metaplanet became known as ‘Asia’s MicroStrategy’ after adopting the BTC strategy to lead the Asian charge. MicroStrategy has regularly bought Bitcoin since its first purchase in 2020, and currently holds 444,262 BTC acquired for over $27 billion.

“The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward,” KURL noted in its announcement on Boxing Day. Coinbase Prime will offer custody and wallet services for KURL’s haul of BTC.

Bitcoin traded around $95,670 at the time of writing, about 3% down in the past 24 hours.

The post KULR launches Bitcoin treasury with $21m BTC purchase appeared first on CoinJournal.

Veröffentlicht am

Ethereum ETFs inflows surge as Bitcoin ETFs see major outflows

  • Ethereum ETFs inflows are outdoing Bitcoin ETF inflows.
  • BlackRock’s iShares Ethereum Trust (ETHA) ETF leads with a $89.51M inflow on Dec 23, 2024.
  • This Market shift may signal an altcoin season in 2025.

In a surprising turn of events in the cryptocurrency market, Ethereum spot ETFs have been experiencing significant inflows, overshadowing the outflows noted in Bitcoin ETFs.

On December 23, 2024, Ethereum ETFs recorded a net inflow of $130.8 million, with BlackRock’s iShares Ethereum Trust (ETHA) ETF leading with $89.50 million and Fidelity’s Ethereum ETF (FETH) adding $46.40 million according to Coinglass data. In stark contrast, Bitcoin ETFs saw outflows totalling $226.50 million on the same day.

This trend has been consistent over recent weeks. For instance, on December 12, Ethereum spot ETFs had a cumulative net inflow of $273.70 million, continuing their streak of 14 consecutive days with positive inflows. BlackRock’s ETHA ETF alone saw a single-day net inflow of $202.30 million, while Grayscale’s Ethereum ETF (ETH) contributed $73.20 million.

Ethereum ETFs inflows
Source: Coinglass
Bitcoin ETFs inflows
Source: Coinglass

The shift signals a possible start of an altcoin season

Bitcoin ETFs, despite having higher trading volumes, have been facing outflows, suggesting a possible shift in investor sentiment towards Ethereum.

Market analysts speculate that this could signal the onset of an ‘altcoin season’, where investors might be diversifying their portfolios beyond Bitcoin, with ETH leading the pack.

This shift in investment flow is particularly notable as it comes at a time when Bitcoin has been dominating headlines with its price performance, reaching over $108,000 earlier in December.

The underlying reasons for this trend might include Ethereum’s growing ecosystem, particularly in decentralized finance (DeFi) and non-fungible tokens (NFTs), which could be attracting investors looking for dynamic growth opportunities.

Additionally, the regulatory environment under the incoming administration might be perceived as more favourable for Ethereum, given its broader use-case applications beyond just being a store of value like Bitcoin.

This development raises questions about the future direction of crypto investments. While Bitcoin has long been the bellwether of the crypto market, Ethereum’s recent performance in the ETF space might hint at a rebalancing of investor interest, potentially leading to more balanced growth across different cryptocurrencies in 2025.

The post Ethereum ETFs inflows surge as Bitcoin ETFs see major outflows appeared first on CoinJournal.

Veröffentlicht am

Avalon Labs raises $10m in series A round

Avalon Labs, the issuer of Bitcoin (BTC)-backed stablecoin USDa, has secured $10 million in a Series A financing round that attracted several venture capital firms.

“We are known for many things but today is not about us. The team from Avalon Finance is honored to announce the closing of our 10M Series A Round,” the platform posted on X.

Venture capital firm Framework Ventures led the funding round, which attracted the participation of UXTO Management, Prestoby Framework Ventures and Kenetic Capital.

In an announcement, the Avalon Labs team said the project will use the funding support to expand its BTC decentralized finance ecosystem.

In this case, Avalon’s aim is to evolve Bitcoin from being just a digital store of value to a robust financial instrument.

“We are pioneering the future of Bitcoin-backed financial solutions, creating the first comprehensive ecosystem that unlocks the true potential of the world’s leading cryptocurrency” the Avalon team wrote.

Avalon’s USDa stablecoin allows users to tap into DeFi on Bitcoin by collateralizing it. The platform’s borrowing rate is fixed at 8%, which allows USDa holders to access liquidity while keeping their BTC positions.

USDa, Avalon’s flagship collateralized debt position (CDP), ranks as the second-largest CDP per data from DeFiLlama. Its TVL hit $700 million in early December and its competitors include MakerDAO’s DAI and Liquity

The post Avalon Labs raises $10m in series A round appeared first on CoinJournal.

Veröffentlicht am

La Rosa Holdings to allow real estate agents to receive commissions in crypto

  • La Rosa agents can now receive commissions in cryptocurrency with a 2% fee.
  • The initiative aims to streamline transactions and meet the demand for crypto payments.
  • La Rosa reported a 155% revenue growth, hitting $51.7M in the first nine months of 2024.

La Rosa Holdings Corp. (NASDAQ: LRHC), a leading technology-integrated real estate company, has announced a groundbreaking initiative to enable its network of over 3,000 real estate agents in the United States to receive commissions in cryptocurrency. This positions La Rosa as a pioneer in integrating blockchain technology into the real estate sector.

Real estate agents will have the option to receive payouts in digital assets, including Bitcoin (BTC), under a 2% fee structure. The plan addresses the growing demand for alternative payment options and reflects the company’s commitment to innovation.

By leveraging blockchain technology, La Rosa aims to streamline transactions, enhance security, and reduce associated fees.

In a press release announcing the initiative, Alex Santos, the Chief Technology Officer of La Rosa said, “Our intention to introduce cryptocurrency payments represents a natural evolution in our commitment to innovation and broker empowerment. Blockchain technology has the potential to simplify real estate transactions while offering agents and clients unmatched flexibility.”

Joe La Rosa, the company’s CEO, emphasized that cryptocurrency payments could lead to faster, more secure transactions while offering agents the potential to benefit from digital asset appreciation.

“This initiative not only positions La Rosa at the forefront of technological innovation in real estate but also creates new opportunities for our agents,” said La Rosa. “We are proud to empower our network with cutting-edge solutions while meeting the growing demand for alternative payment methods.”

La Rosa Holdings, which operates 25 corporate offices across the US and Puerto Rico, has seen remarkable growth, with a 188% year-over-year revenue increase in the first nine months of 2024, reaching $51.7 million. The company’s flexible business model offers agents a choice between a 100% commission plan and a revenue-sharing model.

By integrating cryptocurrency payment options, La Rosa Holdings continues to lead the charge in redefining real estate transactions, ensuring its agents remain competitive in a rapidly evolving marketplace.

The post La Rosa Holdings to allow real estate agents to receive commissions in crypto appeared first on CoinJournal.