BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, led the way with a net inflow of $117.25 million, according to SoSoValue data. The fund also became the most traded Bitcoin ETF on Monday with a volume of $1.24 billion. Ark Invest and 21Shares’ ARKB followed closely with a net inflow of $117.19 million.

Fidelity’s FBTC saw $36.15 million in net inflows, and Bitwise’s BITB received $15.24 million on Monday. Funds from VanEck, Invesco, Galaxy Digital, and Franklin Templeton also reported net inflows yesterday.

Grayscale’s GBTC, along with ETFs from Valkyrie, WisdomTree, and Hashdex, experienced zero inflows on Monday.

A total of $2.26 billion was traded across US spot Bitcoin funds on Monday. The trading volume in spot Bitcoin ETFs remains lower compared to March, when volumes surpassed $8 billion on some days. However, the ETFs have accumulated a total net inflow of $16.11 billion since their launch in January.

Bitcoin recovered quickly and climbed above $64,000. The leading cryptocurrency is currently trading at $64,770 as of this writing.

BlackRock co-founder and CEO Larry Fink stated in an interview with CNBC on Monday that Bitcoin has become a “legitimate financial asset” and admitted his previous skepticism towards the cryptocurrency was misplaced.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post Spot Bitcoin ETFs Maintain Momentum: Bitcoin on an Upward Trend! appeared first on Coin Engineer.

The Securities and Exchange Commission (SEC) this month sent Robinhood a Wells notice, warning that the company’s crypto trading activities may be violating securities laws.

Speaking to CNBC, Tenev said that Robinhood had met with the SEC 16 times before receiving the notice, and that it was “unacceptable” that American citizens should not have access to cryptocurrencies.

Tenev said that Robinhood had tried to work with the SEC to find a way to continue offering crypto trading, but that “it was clear that there was no path forward, and now we’re at this point.”

“The SEC could change the rules to allow brokers to trade crypto assets, but they don’t seem to have any intention of doing that,” Tenev added. “Instead, they’re continuing to regulate through enforcement. That’s a disappointment. I didn’t want to get to this point, but we have to defend ourselves and our customers. We believe that crypto assets are becoming increasingly important, and it’s unacceptable to us that Americans should not have access to them.”

The post Robinhood CEO Slams SEC Over Crypto Warning, Says “Unacceptable” appeared first on Coin Engineer.

You might like: Ripple (XRP) Uptrend Broken! What Are the Targets?

In an interview with CNBC at the World Economic Forum in Davos, Switzerland, on Thursday, Sonnenshein said that he believes the majority of the 11 approved spot Bitcoin ETFs are likely to fail.

The SEC officially approved 11 spot Bitcoin ETFs on January 10, and 10 of them began trading the following day. Many ETF issuers were actively lowering their trading fees to improve their competitiveness with other ETF sponsors.

Most of the approved ETFs had fees ranging from 0.2% to 0.4%. Multiple spot Bitcoin ETF providers also offered temporary fee waivers.

On the other hand, Grayscale, the largest Bitcoin holder among ETF issuers, charges up to 1.5% without any waiver.

Sonnenshein defended Grayscale’s fees for its market-leading spot Bitcoin ETF product and said that only two or three spot Bitcoin ETFs would remain, with the rest withdrawing from the market.

Sonnenshein said, “From our perspective, this sometimes calls into question their long-term commitment to the asset class. Ultimately, I don’t think the market is going to have the 11 spot products that we have.”

Sonnenshein’s comments came on the fifth day of the approval of spot Bitcoin ETFs in the United States. Since the start of trading, Grayscale has been the only issuer to aggressively unload Bitcoin, to the tune of 37,947 BTC as of January 18.

In contrast, the other nine issuers have added at least 40,000 BTC to their products since the start of trading.

The post Grayscale CEO: Only 2 or 3 Bitcoin ETFs Will Survive! appeared first on Coin Engineer.

Zodia Custody‘ s CEO Julian Sawyer, in an interview with the US media CNBC, pointed out that there is a group of investors in Hong Kong which is increasing demand for businesses’ cryptocurrencies. Moreover, he said that “The Hong Kong administration sees cryptocurrencies as future investment tools and aims to be in a central position in this field. This situation is of great importance to us”.

Zodia Custody recently gained attention not only by providing staking services but also by collaborating with companies like Open Eden to transfer real-world assets using blockchain technology. The company has also started offering its services in countries such as Singapore, Australia, and Japan and counts a Japanese giant like SBI Holdings among its significant business partners. Zodia had raised approximately $40 million in investment in April.

Sawyer also stated that Hong Kong is currently the final point for expansion in Asia. Recently, Hong Kong has attracted attention by accepting exchange-traded funds supporting cryptocurrencies like Bitcoin and Ether and updating its cryptocurrency regulations.

It is also important to note that during a period when cryptocurrencies are completely banned in China, Hong Kong is seen as a place that wants to strengthen its ties with the world in this field. It is clear that thousands of Chinese citizens travel to Hong Kong every day to carry out cryptocurrency transactions.

In the comment section, you can freely share your comments and  opinions about the topic. Additionally, please don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.

The post Standard Chartered Expands in Crypto Field! appeared first on Coin Engineer.

You might like: FTX Exchange’s Credibility Shaken: Backstop Fund Scandal!

Despite tensions in the Middle East, Bitcoin and Ethereum resisted even as stock markets fell and oil prices increased. Over the past 24 hours, Bitcoin and Ethereum saw a slight decrease of 0.2%. XRP fell 1.3% while Cardano’s ADA rose 0.4%. CoinDesk Market Index (CMI) saw a 0.19% decrease, pointing to various tokens suffering losses.

The Israel-Hamas conflict entered its third day on Monday, following Hamas’s early missile attack on Israel on Saturday. Investors think this conflict could cause a supply disruption. The fear of the conflict spreading to neighboring countries like Iran seems to be influencing oil prices.

The chief investment officer of energy investment firm Bison Interests, Josh Young, told CNBC: “There could potentially be dramatic effects in the oil market if the US applies export sanctions to Iran,” He added, “It’s possible that we could see an increase of about $5 in oil for WTI.”

WTI Crude Oil increased 3.23% since Sunday, bringing its quarterly gains to 16%. There was also approximately a 3.5% increase in Brent Crude Oil.

Asia’s stock markets saw a decrease after Monday’s opening. In India, Sensex fell 0.69%, Shanghai Composite 0.44%, and Singapore Strait Times Index dropped 0.2%. The pre-market futures contracts in the US pointed to losses. Dow Jones Index lost 0.77% and the tech-heavy Nasdaq 100 Index experienced a 0.86% loss.

In the comment section, you can freely share your thoughts and comments about the topic. Additionally, please follow us on our Telegram, YouTube, and Twitter channels for the latest news.

The post Hamas’ Attack on Israel Shakes Markets as Oil Rises! appeared first on Coin Engineer.