First Mover Americas: Investors Pile Into Bitcoin ETPs Following BlackRock ETF Filing
The latest price moves in crypto markets in context for July 19, 2023.
This article originally appeared in , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context..
Crypto investors have money into bitcoin exchange-traded products at a record pace ever since BlackRock filed for a spot-based ETF on June 15.New data from K33 Research shows the BTC-equivalent exposure of ETPs listed worldwide increased by 25,202 BTC ($757 million) to 196,824 BTC in the four weeks to July 16. That's the second-highest monthly net inflow, surpassed only by inflows seen following the launch of ProShares’ futures-based ETF and other futures-based ETFs in October 2021, according to K33 Research’s Vetle Lunde.
Societe Generale's (GLE) cryptocurrency division, SG Forge, has the first company to receive a license to offer crypto services in France from the country's financial regulator. SG Forge is licensed to provide buying and selling, exchange and custody of digital assets as of July 18, according to the . While dozens of crypto firms, including the world's largest cryptocurrency exchange, , are registered with the AMF, SocGen's crypto division is the first to receive a license.
Messaging platform Telegram issued $270 million in bonds this week to fund its growth until "we reach the break-even point," CEO Pavel Durov Tuesday. The platform is not yet profitable and has rising expenses due to its "massive growth," Durov said. It’s onboarding 2.5 million new users a day and earlier this year hit 800 million monthly active users. "I personally bought about a quarter of the new Telegram bonds, investing tens of millions into Telegram's growth. This comes in addition to the hundreds of millions I spent over the last 10 years to keep Telegram operational," Durov said. The alternative messaging platform has long been a favorite among crypto enthusiasts. That's partly attributable to the company's defunct efforts to launch its own crypto token, GRAM.
- Omkar Godbole
Edited by Sheldon Reback.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Dogecoin News Today: Dogecoin ETFs Indicate Growing Interest from Institutions, Yet Can the Meme Coin Demonstrate Its Value?
- U.S. Dogecoin ETFs (BWOW, GDOG) launched amid mixed market reactions, with GDOG's $1.4M debut volume far below $12M forecasts. - Both ETFs hold actual Dogecoin but lack 1940 Act registration, exposing investors to liquidity risks and regulatory uncertainty. - Market analysts cite Dogecoin's volatility, meme origins, and descending price patterns as barriers to mainstream adoption. - Fee structures (0.34-0.35%) and regulatory ambiguity highlight challenges in monetizing meme coins despite institutional in
Australia's Cryptocurrency Reform Strikes a Balance Between Fostering Innovation and Safeguarding Investors
- Australia introduces 2025 Digital Assets Framework Bill to regulate crypto exchanges and custody providers under stricter licensing and ASIC oversight, aiming to protect investors and align with traditional finance standards. - The bill classifies operators into "digital asset platforms" and "tokenized custody platforms," with exemptions for small operators under A$5,000 per customer and A$10M annual transactions. - An 18-month transition period and potential A$24B annual productivity gains are expected,
ZK Pumping: How Infrastructure Grants Propel Expansion in Real Estate and Technology Sectors
- Webster , NY's $9.8M FAST NY grant transforms a 300-acre Xerox brownfield into a high-tech industrial hub via infrastructure upgrades. - The project reduces development barriers, attracting $650M private investments like the fairlife® dairy plant and boosting property values by up to 30%. - Tech integration, including blockchain-based traffic systems, positions Webster as a model for linking physical and digital infrastructure in industrial growth. - "ZK Pumping" demonstrates how strategic infrastructure
Bitcoin Updates Today: Assessing Bitcoin's Support Zones—Will Institutional Investments Surpass Federal Reserve Ambiguity?
- Bitcoin faces critical $84,000–$86,000 support after 31% November selloff, with institutional inflows and whale accumulation signaling ongoing bull cycle resilience. - JPMorgan upgrades miners like Cipher Mining amid rising HPC demand, while Fed rate-cut odds hit 71% for December, potentially boosting risk assets. - On-chain data shows historic BTC transfers to long-term holdings, contrasting with Binance's delistings and regulatory-driven liquidity management efforts. - 2025–2030 price forecasts range $
Trending news
MoreCrypto prices
More
