Schlagwort: crypto business

Veröffentlicht am

CoinShares exercises option to buy Valkyrie Funds

  • CoinShares exercises option to buy Valkyrie Funds following SEC’s spot ETFs approval.
  • The acquisition will add $110 million in assets under management (AUM) to CoinShares’ $4.5 billion.
  • It also allows the Europe-based asset manager to expand into the US.

CoinShares, a digital assets investment firm based in Jersey, Channel Islands, has exercised its option to buy Valkyrie Funds LLC, the crypto exchange-traded funds arm of US-based firm Valkyrie Investments Inc.

The acquisition allows CoinShares to enter the US market, and follows the US Securities and Exchange Commission (SEC)’s approval of spot Bitcoin ETFs, the company said in a press release published on Friday.

On Wednesday, SEC allowed spot Bitcoin ETFs to start trading on stock exchanges, including The Valkyrie Bitcoin Fund (BRRR). Like the other funds, which include BlackRock’s IBIT, Fidelity’s FBTC and Ark/21 Shares’ ARKB, BRRR trading went live on Nasdaq on January 11, 2024 at 09:30 am ET.

SEC’s approval provides a positive regulatory development for the crypto industry, and offers CoinShares an opportunity to expand its crypto footprint into the US market.

“Exercising our option to acquire Valkyrie Funds aims at extending our European success in the U.S, offering unparalleled access to regulated digital asset products to American investors. This expansion is a clear statement of our appetite for acquisition to support our ambition to be a global leader in the digital asset space,” Jean-Marie Mognetti, CEO of CoinShares, said in a statement.

When the companies finalise the strategic acquisition, CoinShares’ current assets under management (AUM), of $4.5 billion will increase by about $110 million. 

The increase will account for the current total AUM of Valkyrie’s ETF products. These include the just approved Bitcoin Fund (BRRR) and previous offerings Bitcoin and Ether Strategy ETF (BTF) and Bitcoin Miners ETF (WGMI). 

Valkyrie Funds will maintain its operational independence until after the deal has received the necessary legal approval. The companies did not disclose the deal’s financial terms.

The post CoinShares exercises option to buy Valkyrie Funds appeared first on CoinJournal.

Veröffentlicht am

Pullix on track as Vanguard’s BTC move draws criticism

  • Asset manager Vanguard has blocked its customers from purchasing spot Bitcoin ETFs via its platform.
  • That came as the ETFs began trading on Thursday and some people have said they will exit Vanguard.
  • Meanwhile, headlines in coming months could focus on Pullix, a new hybrid exchange currently in presale.

As crypto celebrates the approval of the first spot Bitcoin ETFs in the US, the broader feeling is that this puts the industry on the cusp of further regulatory clarity.

Within this scope are also the projections of a thriving crypto trading market, with the key sector of decentralized finance (DeFi) among those to see greater traction. It’s for this that the upcoming launch of the new hybrid crypto exchange Pullix (PLX) has the industry thrilled.

Vanguard blocks purchases of spot Bitcoin ETFs

Amid the frenzy that was the first day of trading for spot Bitcoin ETFs, reports emerged that asset manager Vanguard was blocking its customers from purchasing the crypto ETF products.

The move has seen some customers threaten to ditch the asset manager for competitor Fidelity Investments. Will this be enough to persuade Vanguard to change its stance, or will Fidelity, other providers, benefit from the status quo?

While the firm is within its rights to dictate the use of its platform, its outlook on crypto with the latest stance has agitated a number of customers. Many have posted on X that they are willing to switch to another platform, with Fidelity’s support for Bitcoin making it a likely destination.

A screenshot Bitcoin Archive shared shows several people saying they were exiting the platform.

Steven Lubka, the managing director and head of private and family offices at Swan Media, noted in a Thursday post Citi, Merrill Lynch, Edward Jones and UBS had taken a similar approach.

New hybrid exchange Pullix launching soon

Pullix (PLX), a new hybrid cryptocurrency exchange, is eyeing a major impact in the DeFi ecosystem.

Designed to offer the best of both centralized (CEX) and decentralized (DEX) exchanges, Pullix aims for dominance with a simple yet effective approach – incentivising customers to provide liquidity by offering unique rewards and capturing markets with a robust security structure.

Is it a complex platform? According to the Pullix whitepaper, the exchange will offer a user-friendly system with access to global trading assets, including cryptocurrency, stocks and commodities.

Apart from its focus on customer security and liquidity, Pullix also has a distinct revenue-sharing mechanism powered by the PLX token. In this regard, the new exchange bids to be the first platform to provide a share of daily revenue to its users as they trade and provide liquidity to market makers.

The PLX token presale is ongoing, currently in stage 6, with the community allocated 60% of the fixed supply of 200 million PLX during this sale. Afterwards, the tokens will be available on major exchanges.

Visit Pullix’s website to learn more.

The post Pullix on track as Vanguard’s BTC move draws criticism appeared first on CoinJournal.

Veröffentlicht am

Bitbot gears up for presale amid uncertainty ahead of first BTC options expiry post ETF approval

  • BTC options expiry reveals short-term volatility post ETF approval.
  • Bitbot’s presale on Jan 17 promises unprecedented excitement with self-custodial solutions.
  • With a total supply of 1 billion tokens, Bitbot aims for a $1B market cap and top listings.

As 2024 signals the potential start of a new bull run, the crypto market is buzzing with excitement. The recent Bitcoin ETF approval sparks short-term volatility, while Bitbot, a revolutionary Telegram trading bot, gears up for its token presale on January 17.

In this article, we delve into the first anticipated Bitcoin options expiry post Bitcoin ETF approval and the upcoming Bitbot presale, exploring the potential for exhilarating opportunities in the evolving crypto landscape.

First BTC Options expiry post Bitcoin ETF approval

The approval of the Bitcoin Spot ETF on Wall Street has set the stage for unprecedented market movements. Despite the historical significance, Bitcoin’s price exhibits a muted response, currently trading at $46,080.

According to Greeks.Live, as of January 12, 36,000 Bitcoin options are on the verge of expiration, presenting a Put Call Ratio of 0.9. With a Maxpain point at $45,000 and a notional value of $1.68 billion, the market anticipates a short-term rollercoaster ride.

Crypto market post-Bitcoin ETF approval

While the adoption of the Bitcoin Spot ETF promises long-term benefits, short-term uncertainties persist. Short-term implied volatilities (IVs) experienced a peak before declining, creating an environment of caution and anticipation among investors.

Santiment’s data suggests a potential shift post-ETF approval, with a slight decrease in active Bitcoin (BTC) wallets. Although this might not significantly impact prices, traders may explore transitioning to ETF exposure, adding a layer of intrigue to market dynamics.

Bitbot’s presale buzz

As the crypto community braces for potential market shifts, Bitbot, a Telegram bot, emerges as a disruptive force, offering a self-custodial trading solution on Telegram. The Bitbot token presale, set to launch on January 17, introduces a new wave of excitement and investment opportunities.

The Telegram bot boasts a total supply of 1,000,000,000 tokens. The presale, spanning eight stages, will see 30% of the tokens distributed. An additional 20% is allocated to the Bitbot development team to fund ongoing innovation, ensuring long-term utility.

Bitbot’s ultra-flexible wallet management, powered by MPC custodial API technology, sets it apart. The MPC system replaces private keys with individual key shares, enhancing privacy and accuracy. Knightsafe, Bitbot’s custody partner, adds an extra layer of security with an open-source and decentralized digital asset self-custody service.

Is Bitbot a good investment?

Well, any cryptocurrency investment move is up to the investor. However, a thorough background check and market analysis are required due to the volatile nature of the cryptocurrency market.

As Bitbot’s presale launch approaches, it is important to note that the Telegram bot introduces an Anti MEV Bot, preventing monitoring by MEV bots and anti-rug features to thwart potential scams. Additionally, Bitbot users can copy trades of top traders, enjoy a built-in referral program, and sign up with ease, creating an enticing user experience.

Bitbot allocation strategy, focusing on development, marketing, and liquidity provision, aims to achieve a $1B market cap and secure listings on top exchanges. In addition, the upcoming $100K competition adds a layer of excitement, making Bitbot a potential gem in the evolving crypto landscape.

Conclusion

In the midst of evolving market trends and the potential for a crypto Bull Run, Bitbot and Bitcoin stand as key players.

The BTC options expiry and Bitbot’s presale create a dynamic landscape, offering traders and investors a myriad of opportunities.

The post Bitbot gears up for presale amid uncertainty ahead of first BTC options expiry post ETF approval appeared first on CoinJournal.

Veröffentlicht am

Hedera and Algorand forge an alliance for crypto recovery

  • Hedera and Algorand jointly launch Decentralized Recovery (DeRec) protocol for robust digital asset security.
  • DeRec protocol uses trusted entities, secret sharing, and automatic confirmations for enhanced recovery.
  • The Hedera and Algorand alliance aligns with industry needs for improved safety standards.

In a groundbreaking collaboration, blockchain ecosystems Hedera and Algorand, including the HBAR Foundation and Algorand Foundation, have united forces to address the challenges of decentralized wallet recovery.

The newly formed Alliance, consisting of key figures from both ecosystems, introduces an innovative Decentralized Recovery (DeRec) protocol. This protocol sets out to enhance digital asset security and recovery, offering a robust solution to a critical need in the blockchain industry.

The DeRec Alliance

The DeRec Alliance was unveiled at the Crypto Finance Conference in St. Moritz by Dr. Leemon Baird, the co-founder of Hedera, and John Woods, the CTO of the Algorand Foundation.

The centrepiece of the DeRec Alliance is the Decentralized Recovery (DeRec) protocol, a pioneering approach to managing digital secrets. This open-source protocol is grounded in the concept of secret sharing among trusted entities, such as friends or businesses. Users can recover their secrets with the assistance of these trusted entities, ensuring security without any single party having complete access to the information.

The DeRec protocol includes automatic confirmations to guarantee that helpers retain shares of secrets. Moreover, it facilitates automatic resharing in response to changes in secrets or modifications in the helper group. Crucially, the identities or the number of helpers involved in the process remain confidential, adding an extra layer of security and privacy.

Addressing DeFi security challenges

This strategic initiative by Hedera and Algorand addresses ongoing security challenges in the decentralized finance (DeFi) space. The DeRec Alliance’s efforts align with the broader industry’s need for improved security measures, echoing recent recommendations from regulatory bodies like the United States Commodity Futures Trading Commission.

Dr. Leemon Baird emphasizes the importance of collaboration across the industry to establish unified standards and open-source code, aiming to bolster safety within the Web3 environment.

With banks, credit unions, and various wallet software projects already participating, the DeRec Alliance indicates a growing interest in developing a more secure and user-friendly framework for digital asset management. This collaborative effort marks a significant leap forward in establishing a standardized, decentralized recovery protocol, potentially setting a new industry standard for wallet safety and trust in digital asset technologies.

By forming the DeRec Alliance and introducing the innovative DeRec protocol, Hedera and Algorand are laying the foundation for a more secure and user-friendly DeFi ecosystem.

The post Hedera and Algorand forge an alliance for crypto recovery appeared first on CoinJournal.

Veröffentlicht am

BTC surges as BlackRock’s IBIT trades $7.5M shares in first 10 minutes

  • Bitcoin (BTC) price surged to above $48,000 again on Thursday as spot Bitcoin ETFs made their market debut following SEC’s approval on January 10, 2024.
  • BlackRock’s Bitcoin ETF ($IBIT) traded $7.5M shares within the first 10 minutes as spot ETFs roared into the ecosystem.

Bitcoin’s price shot past the $48,000 level on Thursday as the market opened to welcome the first trading day of spot Bitcoin ETFs in the US.

The benchmark cryptocurrency’s price was up 8.8% to $48,875 at the time of writing, with a market capitalization of about $950 million. The price surge coincided with a stellar start to Bitcoin ETFs trading as BlackRock’s IBIT recorded an impressive $7.5 million traded shares within the first 10 minutes of going live.

BlackRock’s $IBIT on fire

With 20 minutes in, Bloomberg ETF analyst Eric Balchunas pointed out that volume was “big” and was set to outpace the record the ProShares Bitcoin Strategy ETF (BITO) set when it went live in October 2021. BlackRock’s IBIT, with over $292 million in shares at the time, was on track to surpass $1 billion, the analyst noted.

Other Bitcoin ETFs, including Grayscale’s GBTC, Ark Invest’s ARKB and Fidelity’s FBTC, were also heating up as trading showed demand could pick up as momentum builds. Balchunas added that “almost all the volume in first few days will convert to inflows.”

“While focus has been on bitcoin, a big takeaway is that ETFs continue to show they can handle just about anything,” the ETF guru noted in an earlier post on X. He explained this with a comparison chart showing the trading profile of spot Bitcoin ETFs in Europe.

“Spreads and prem/disc have tightened,” he wrote, adding that he expected the same outlook in the US over time.

As the ETFs markets heats up on the debut day, the uptick in BTC price has market observers pointing to a potential continuation. With the sell the news idea floated before the approval likely not happening, Bitcoin could retest the $50k level before accumulating at support levels for a new leg.

The upcoming BTC halving is another huge catalyst waiting in the wings, which analysts say could combine with overall bullish sentiment to catapult prices beyond $100k in 2024.

The post BTC surges as BlackRock’s IBIT trades $7.5M shares in first 10 minutes appeared first on CoinJournal.