Good morning! We have listed the latest news for you. Start the day with a bitcoin breakfast.
In the past week, BlackRock’s iShares Bitcoin Trust ETF (IBIT) has surpassed MicroStrategy as it now owns more bitcoin. BlackRock now has 196,065 bitcoin, which is more than the 193,000 bitcoin that MicroStrategy has. This happened soon after the January launch of IBIT, BlackRock’s first bitcoin ETF.
The rapid increase in BlackRock’s bitcoin holdings shows growing investor interest in spot bitcoin ETFs. This is supported by statements from Grayscale CEO Michael Sonnenshein, who recently spoke about the high demand for these ETFs. He said this demand is outpacing the supply of new bitcoin on the market, pushing the price of bitcoin up.
The current trend in bitcoin mining, with massive investments in equipment and unprecedented energy consumption, indicates a major acceleration by miners in anticipation of the upcoming halving in April. This major event is expected to have a major impact by lowering the rewards for mining Bitcoin, intensifying competition and potentially narrowing margins for profitability.
Recently, Coinbase and Grayscale held discussions with the U.S. Securities and Exchange Commission (SEC) about setting up spot ethereum exchange-traded funds (ETFs). These conversations are important as they can help bring more crypto-related financial products to investors, after we saw some spot Bitcoin ETFs approved in January.
Coinbase has explained to the SEC why it believes Ethereum ETFs should be approved. They say that ethereum, like bitcoin, complies with the rules for approving such financial products. Coinbase has also shown that the ethereum market, like bitcoin, is strong and reliable.
Source: https://bitcoinmagazine.nl/nieuws/goedemorgen-bitcoin-fonds-van-blackrock-heeft-meer-btc-dan-microstrategy
