NFT News by Thebittimes.Com

ProShares and Grayscale lead a surge of activity in Bitcoin investment products, with analysis confident of implied demand for a Bitcoin spot ETF. Bitcoin (BTC) institutional investment vehicles are seeing a major volume boost as excitement over possible United States regulatory changes takes hold. Data from resources including Bloomberg showed Bitcoin exchange- trade d funds (ETFs) and others nearing record weekly inflows. BITO, GBTC trade $2.5 billion  Hints that the U.S. might soon allow a Bitcoin spot price-based ETF have not only impacted BTC price action — the surrounding ecosystem has benefitted in kind. In addition to exchanges and mining firms, embattled institutional investment options are also seeing a resurgence in demand. As noted by Bloomberg senior ETF analyst Eric Balchunas, at least two household names saw “notable” volume in the trading week through Oct. 27. Among them was the ProShares Bitcoin Strategy ETF (BITO), the first futures-based ETF to get the green light i...

Gemini wrote to a federal judge asking the bankruptcy court to invalidate any claims Genesis has to a trove of Grayscale Bitcoin Trust (GBTC) shares in an ongoing dispute between both the two crypto entities. The lawsuit filed on Oct. 27 seeks ownership over some 60 million GTBC shares offered as collateral by Genesis Global, a now-defunct crypto lender under the Digital Currency Group (DCB) umbrella and Gemini’s former partner for its Earn program. Gemini said the GBTC shares worth $1.6 billion “would completely secure and satisfy the claims of every single Earn User”, around 340.000 users left stranded since Genesis froze withdrawals in late 2022. The complaint comes amid Genesis’ bankruptcy proceedings and Gemini noted that the beleaguered crypto lender might repay its creditors with assets rightly belonging to Earn customers. Genesis and Gemini remain locked in a legal wrestling match following FTX’s implosion. Several marquee crypto entities fell into insolvency around th...

Bitcoin, crypto and risk asset traders await dovish signals from Fed Chair Jerome Powell ahead of fresh CPI data later in the week. Bitcoin (BTC) stayed above $17,000 on Jan. 10 as risk assets awaited fresh cues on policy from the United States Federal Reserve. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell to kick off week of U.S. macro triggers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after hitting $17,396 on Bitstamp the day prior — its highest since Dec. 16. The pair gained in line with gold early in the week, seeing a slight cool-off as U.S. stocks also lay in wait for potential Fed catalysts. Fed Chair Jerome Powell was due to speak at a central bank conference on the day, with bulls hoping for a more dovish tone in the wake of several months of declining inflation. The latest Consumer Price Index (CPI) data covering December, 2022, was nonetheless not due until Jan. 12. Commenting on short-term BTC price action, Micha...