Bitcoin ETFs on Track to Surpass Satoshi’s Holdings | Key Points | Nov. 23, 2024
GM. Welcome back to BitPinas Key Points: crypto news in concise formats for easy reading. In today’s daily recap: Bitcoin ETFs are surging as the foremost crypto nears $100,000.
Plus the latest crypto news stories in the last 24 hours.
Table of Contents
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $98,858.15, down 0.1% over the last 24 hours.
- Ethereum (ETH): $3,351.17, down 1.0% over the last 24 hours.
- Solana (SOL): $260.06, down 0.4% vs the previous day.
Trending Coins Update
- Sologenic: $0.7118, up 48.1% vs the previous day.
- Mode: $0.0168, up 5.2% over the last 24 hours.
- Stellar: $0.4322, down 52.5% vs the previous day.
For the daily price update, check out our post on Facebook.
Bitcoin ETFs Rake in $1B as BTC Nears $100K Milestone
Bitcoin exchange-traded funds (ETFs) saw near-record inflows of over $1 billion on November 21, as Bitcoin’s price surged the near $100,000 milestone amid volatile market conditions.
- BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, attracting $608 million in a single day, per Farside Investors.
- Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $301 million in inflows, while Bitwise’s Bitcoin ETF (BITB) pulled in $68 million, Decrypt has reported.
The numbers:
- Total inflows, while massive, fell short of the November 7 record of $1.12 billion, when BlackRock’s IBIT capitalized on pro-crypto sentiment ahead of Donald Trump’s election.
- U.S. Bitcoin ETFs now hold $100 billion in assets, accounting for 82% of the total value of gold ETFs, according to Bloomberg ETF analyst Eric Balchunas.
Bitcoin ETFs are increasingly dominating BTC holdings, and about to surpass even the estimated stash of Bitcoin’s anonymous creator, Satoshi Nakamoto.
What’s next: All eyes are on Bitcoin’s $100,000 milestone and how Ethereum might pivot to regain investor favor.
Philippine Crypto News 🇵🇭
- Coins.ph listed the token $PUPS.
- The documentary, Metaverse Filipino Worker: A YGG Stories, had its Cinema premiere.
- The BLOKC will have an offline track along with the Rivalz AI World Hackathon, which is now live.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Bitcoin surged past $99,000, driven by post-election momentum, the launch of options on spot Bitcoin ETFs, and growing institutional interest.
- Bluesky Digital, a Toronto-based blockchain firm, saw its stock surge by 1,767% in November, likely due to investor confusion with the social media platform Bluesky.
- Gary Wang, co-founder of FTX, received time served and three years of supervised release after pleading guilty to fraud charges and cooperating with the government.
Educational Corner 🎓
- Time for an update: Check out this month’s update on the list of Cost-Free Airdrops 2024.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Germany‘s failure to pass key MiCAR legislation prevents BaFin from issuing crypto licenses.
- Reserve Bank of India (RBI) is taking a cautious approach to the nationwide rollout of its CBDC, the e-rupee, prioritizing financial stability.
- The U.S. SEC announced that it is distributing $4.6 million to investors affected by BitClave’s 2017 initial coin offering (ICO).
Community Spotlight 🔦
Meet Jhobert Baquisal (LinkedIn): He is one of the community leaders in the countryside of Bicol region.
- He is the Guild Leader of Bicol Axie Express.
- Baquisal is actively involved in promoting and organizing events related to blockchain technology and gaming in the Bicol region
- He is set to speak at the upcoming Bicol Blockchain Conference.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Valantis Labs raised $7.5 million in seed funding to develop its modular DEX protocol.
- Digital Currency Group (DCG) launched a new subsidiary, Yuma, to support decentralized AI development on the Bittensor network.
- Arkham Intel, a crypto data firm, plans to launch a spot trading platform in the U.S.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- BreederDAO rebranded as Sovrun, shifting focus from NFT asset generation to pioneering player-driven Autonomous Worlds (AWs) in web3 gaming.
- Sparkball kicks off Season Zero offering players the chance to compete in Tryouts, Training Camps, and a global competition.
- Metacadepartnered with SuperVerse to launch a $10,000 prize pool for its blockchain-based game Gangs of Metacadia, hosted on Base blockchain.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space in the Philippines!
- iThink Code Camp: STI College San Fernando: November 25, 2024
- iThink Code Camp: PHINMA Araullo University: November 28, 2024
- Tech VCs & Ph.ounders: December 3, 2024
Stay Connected:
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- Check us out on Facebook!
- Join our Telegram group for real-time discussions!
We’d love to hear from you! Reply with your thoughts or questions.
This article is published on BitPinas: Bitcoin ETFs Rake in $1B as BTC Nears $100K Milestone | Key Points | Nov. 23, 2024
