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  • BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

    BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

    blackrock ceo larry fink crypto digitalising gold
    • BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days
    • BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October
    • BlackRock is now in the top 1% of all ETFs by assets and is bigger than all the ETFs launched in the past 10 years

    BlackRock has done it again. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a record of over $41 billion in net assets in 211 days.

    News of the milestone comes two weeks after BlackRock reached $30 billion in net assets in 293 days at the end of October.

    Posting on X in October, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

    With BlackRock’s new achievement, it’s surpassed the previous record of 1,253 days held by iShares Core MSCI Emerging Markets ETF, according to Balchunas.

    In a post on X, he said: “[BlackRock’s] now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years.”

    Now, BlackRock holds more than 467,000 Bitcoin, valued at $41.8 billion, according to iShares data.

    Reaching new heights

    The new record comes as Bitcoin reached an all-time high of over $93,000 on November 13 in a continued rally that’s showing no signs of slowing.

    The upward trajectory is partly due to Donald Trump being re-elected as US President earlier this month. Following news of his win, Bitcoin broke the $75,000 mark. It then passed $82,000, and continued to $84,000, before pushing to $87,000 earlier this week.

    In September, Bernstein analysts predicted that Bitcoin would surge to between $80,000 and $90,000 if Trump won the US election. With that prediction having now passed, Bernstein analysts believe Bitcoin could reach $200,000 in 2025, urging investors to “buy everything they can.”

    It remains to be seen how far Bitcoin will go, but for now, it’s showing no signs of slowing down.

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  • MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy, the business intelligence company founded by Michael Saylor that;s now the biggest corporate holder of Bitcoin (BTC), has added to its haul of the digital asset.

    On Monday, Saylor announced that the publicly-traded company had acquired another 27,200 BTC for over $2 billion. The news coincided with the surge in Bitcoin price – which reached a new all-time high above $84k.

    Earlier, the world’s largest and most popular cryptocurrency had traded to above $82k. This follows sentiment from the Donald Trump election victory, which continues to create a bullish buzz.

    MicroStrategy its $22 billion in BTC purchases

    The latest Bitcoin purchase for MicroStrategy comes after the company raised $2.03 billion. Earlier, MicroStrategy had revealed plans to raise $42 billion to buy more bitcoins – a scenario that has added to the overall bullish sentiment around the benchmark cryptocurrency.

    Saylor said his company spent these proceeds on buying an additional 27,200 BTC. With this acquisition, which was finalized at the average price of $74,463, MicroStrategy now has a total of 279,420 bitcoins.

    In total, the company has spent $11.9 billion to buy BTC at the average price of $42,692 per coin. At current price of $84,153, MicroStrategy’s Bitcoin holdings amount to over $23.5 billion.

    The BTC has achieved a yield of 7.3% quarter to date and 26.4% year-to-date.

    “Our MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC,” Saylor posted on X.

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  • BlackRock’s IBIT sets record $1.1 billion in daily inflows

    BlackRock’s IBIT sets record $1.1 billion in daily inflows

    • IBIT’s new record comes as Bitcoin achieved a new all-time high of over $76,000 on November 7
    • Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record indicates a “broader shift in institutional confidence” seen by BlackRock’s record net inflows
    • The 12 spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, a new record since listing in January

    BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) set a new record for inflows, reaching $1.12 billion, topping its previous record of $872 million.

    The new record was noted on SoSoValue and comes when Bitcoin reached an all-time high of $76,677 across major exchanges on November 7. Earlier in the week, Bitcoin broke a new all-time high of $75,317 as voting results signalled a Donald Trump win for the White House.

    BlackRock’s IBIT net assets now account for $34.29 billion, significantly pushing it ahead of its competitors. In October, BlackRock set a new record when its total assets reached $30 billion in 293 days.

    Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record suggests a “broader shift in institutional confidence, with notable market movements such as BlackRock’s record net inflows into its iShares Bitcoin Trust (IBIT),” adding:

    “The growing institutional interest underscores Bitcoin’s increasing recognition as a trusted asset class, driven by rising global demand and mainstream adoption. As more investors seek exposure to digital assets, Bitcoin’s role as a store of value and a potential hedge against inflation becomes ever clearer.”

    The 12 US spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, also a new record since listing in January.

    Nearing Satoshi’s wallet

    Bloomberg ETF analyst Eric Balchunas noted BlackRock’s new record in a post on X, saying: “Even I am surprised it’s that big, by far biggest one day flow of any BTC ETF ever.”

    Balchunas later added that the spot Bitcoin ETFs have taken in a combined $6.7 billion in the past month and $25.5 billion year to date, and are 93% of the way to passing Satoshi Nakamoto’s 1.1 million Bitcoin.

    “This confidence suggests that Bitcoin is now seen as a legitimate hedge and growth asset, particularly appealing amid traditional market uncertainties and as regulatory clarity improves,” said James Toledano, COO at Unity, a self-custody crypto wallet, to CoinJournal. “Just look at pension funds in both the UK and US investing in Bitcoin too. Sentiment has changed massively in such a short space of time.”

    Grayscale’s GBTC, the second-largest by net assets at $16.80 billion, saw a net inflow of $7.31 million. Fidelity’s FBTC reported $190.92 million and Ark and 21Shares saw $17.61 million.

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  • Mt. Gox moves $2.2 billion in Bitcoin as it works to repay creditors

    Mt. Gox moves $2.2 billion in Bitcoin as it works to repay creditors

    • Mt. Gox moved 32,371 Bitcoin to two wallets, amounting to $2.19 billion
    • The movement follows the transfer of 500 Bitcoin worth more than $35 million
    • In October, Mt. Gox announced it was pushing its repayment deadline to October 31, 2025

    Defunct crypto exchange Mt. Gox has moved another $2.19 billion to two unmarked wallets, according to data from blockchain analytics firm Arkham Intelligence.

    Of the $2.19 billion, 30,371 Bitcoin was transferred to wallet 1FG2C…Rveoy. The extra 2,000 Bitcoin was sent to a cold wallet before being transferred to wallet 15gNRV…Aok. According to data from Arkham, the movement of Bitcoin comes five days after the exchange moved 500 Bitcoin worth over $35 million.

    It’s one of the largest movements the exchange has made this year. In May, it was reported that Mt. Gox had transferred over $9 billion worth of Bitcoin to a new wallet. In July, the platform moved a further $2.8 billion. In both of these instances, it was thought Mt Gox’s trustee was preparing for repayment to creditors.

    It may be that this further movement of Bitcoin is related to repaying creditors, something they have been waiting for since a hack caused the exchange to collapse in 2014. In October, Mt. Gox pushed its repayment deadline to October 31, 2025, adding another year from its original date.

    Last month, Mt. Gox said the extended deadline was down to two things: creditors not completing the repayment steps and issues arising from the repayment process.

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  • BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

    BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

    BlackRock launches Ethereum ETF on the B3 stock exchange in Brazil
    • BlackRock takes the lead reaching $30 billion in 293 days. JEPI took 1,272 days and Gold managed it in 1,790 days
    • Spot Bitcoin ETFs could reach one million Bitcoin, surpassing Satoshi Nakamoto by mid-December

    BlackRock’s spot Bitcoin exchange-traded fund (ETF) has hit $30 billion in assets setting a new record of 293 days, showcasing rising interest in crypto investments.

    The milestone from BlackRock comes 10 months after the company launched its spot Bitcoin ETF in January. Then, it was reported that BlackRock had traded $7.5 million shares within the first 10 minutes of launching.

    Now, BlackRock holds more than 417,000 Bitcoin, valued at $30.4 billion, according to iShares data.

    Taking to X, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

    Balchunas also noted that Bitcoin ETFs could reach one million Bitcoin soon. At the time of publishing, the number sits around 983,000. If such a milestone is reached Balchunas believes that the combined spot Bitcoin ETFs could surpass Satoshi Nakamoto’s wallet, which holds 1.1 Bitcoin, by mid-December.

    “That said, anything can happen, eg a violent selloff and all this is delayed albeit still inevitable,” he added. “On flip, if prices keep going up, Trump wins, we could see FOMO could kick in and it all happens faster. Stay tuned.”

    Decentralized prediction market platform, Polymarket, and, more recently, Robinhood, an investment app, have launched data predicting who will win the US Presidential election on November 5.

    At the time of publishing, Polymarket shows former US president Donald Trump in the lead at 67% with Vice President Kamala Harris behind at 33.1%.

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  • Stripe acquires stablecoin platform Bridge for $1.1 billion

    Stripe acquires stablecoin platform Bridge for $1.1 billion

    • Stripe has closed a $1.1 billion acquisition of stablecoin firm Bridge
    • The company re-established support for crypto payments in April, adding USDC on Ethereum, Solana, and Polygon in October 2024

    Stripe has completed the acquisition of Bridge, a stablecoin platform that helps companies and businesses accept payments in stablecoins.

    According to TechCrunch founder Michael Arrington, Stripe’s deal for Bridge is valued at $1.1 billion and is the fintech company’s largest to date. The TechCrunch founder shared the news via X.

    Stripe’s acquisition of Bridge comes after reports of talks for a deal surfaced last week. This also comes after Stripe, which has recently increased its visibility in the crypto space with recent deals such as TaxJar and Lemon Squeezy, unveiled its latest crypto-focused feature.

    The ‘Pay with Crypto’ feature, which integrates Paxos, allows companies to add stablecoins to their checkout systems. It’s a step that has also seen several other platforms partner to bring stablecoin payments to more businesses.

    Stripe had previously halted crypto payments in 2018 before making a re-entry in April 2024. Stripe also partnered with Coinbase to integrate Base, a layer-2 network, in June. In July, the fintech expanded its crypto product to the European Union.

    The most recent milestone saw Stripe re-introduce crypto payments with USDC on Ethereum, Solana, and Polygon.

    Meanwhile, entrepreneurs Sean Yu and Zach Abrams unveiled Bridge in 2022. The platform raised $58 million from venture capital investors, with $40 million secured during a Series A round at a valuation of $200 million.

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  • SUI price surges as TVL hits $1.3 billion

    SUI price surges as TVL hits $1.3 billion

    Grayscale introduces Grayscale SUI Trust, boosting SUI price
    • Sui has seen a more than 44% spike in price in the past week and 65% in 30 days.
    • Gains come after the Grayscale Sui Trust opened for accredited investors.
    • The SUI network’s total value locked has surpassed $1.34 billion.

    SUI price has surged by more than 44% in the past week to trade above $1.67. The gains include a more than 65% spike in the past 30 days. This sees the native token of the layer 1 blockchain platform reach highs last seen in early April.

    What catalyzed SUI price surge?

    Sui has experienced a notable surge in volume after Grayscale announced its Sui Trust was now open to accredited investors.

    Daily volume for SUI skyrocketed after the news, and price followed, hitting levels above $1.

    SUI price on CoinMarketCap

    Sui’s price rally to above $1.67 has also coincided with a sharp increase in total value locked in various decentralized finance protocols in the Sui ecosystem. OKX Ventures pointed to the Grayscale Sui Trust’s boost to SUI market credibility as institutional interest emerged.

    Sui TVL hits $1.3 billion

    The bullish sentiment around this outlook is showing in the on-chain activity that has the TVL hitting $1.34 billion.

    According to DeFiLlama, Sui’s TVL rose from about $250 million at the start of 2024 to cross $1 billion in May. However, it dropped to $462 million on Aug. 5 amid the cryptocurrency market crash that pushed Bitcoin price below $50k.

    Notable though is the spike back to $1 billion and acceleration to $1.34 billion in less than a month. It means a more than 377% spike year-to-date and 47% month-to-date.

    Sui’s growing DeFi ecosystem that’s behind this surge include increased adoption for protocols across lending, decentralized exchanges, real-world assets, derivatives and yield.

    Navi Protocol has seen its TVL increase 34% month-to-date to over $449 million.

    Lending protocols Scallop and Suilend have respective TVL readings of $246 million and $203 million. It represents a 34% and 100% MTD spike respectively.

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  • Cantor Fitzgerald to launch $2 billion Bitcoin financing business

    Cantor Fitzgerald to launch $2 billion Bitcoin financing business

    • Cantor Fitzgerald is looking to launch a Bitcoin financing business with an initial capital of $2 billion.
    • The financing services giant’s CEO announced the plans at Bitcoin 2024.
    • Cantor Fitzgerald will partner with top Bitcoin custody pltforms to offer leverage to investors that hold BTC.

    Cantor Fitzgerald, a New York-based global financial services company, will invest an initial $2 billion in a new Bitcoin financing business, the firm’s CEO Howard Lutnick announced at Bitcoin 2024.

    The company confirmed the plans via a press release.

    Cantor Fitzgerald eyes BTC financing business

    According to the Cantor Fitzgerald CEO and per details in the news release, the new business venture will offer leverage to investors holding Bitcoin. The firm will invest more into the financing platform after the initial $2 billion splash.

    “We are excited to help unlock Bitcoin’s full potential and continue bridging the gap between traditional finance and digital assets,” Lutnick said in a statement.

    In his comments at Bitcoin 2024, Cantor Fitzgerald exec said his firm was bringing the flagship digital asset to the global financial markets. The company is ready to work with leading custodians in the market, he added.

    Lutnick also revealed that Cantor Fitzgerald owns Bitcoin and that he personally also holds the benchmark crypto asset.

    “My view is Bitcoin, like gold, should be free to trade everywhere in the world and as the largest wholesaler in the world we are going to do everything in our power to make it so,” he said at Bitcoin 2024.

    Cantor Fitzgerald launched in 1945 and has grown into one of the world’s leading financial services providers.

    The company offers access to services such as investment banking, equity research, capital markets, asset management and prime brokerage among others.

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  • Mt. Gox moves Bitcoin worth nearly $2.8 billion

    Mt. Gox moves Bitcoin worth nearly $2.8 billion

    • Mt.Gox has moved over 44,500 BTC worth over $2.8 billion to an internal wallet.
    • The price of BTC fell slightly after the transfer, retreating to around $62,835.

    On-chain data shows a wallet linked to Mt. Gox has just moved more than $2.8 billion worth of Bitcoin.

    The huge transfer comes as Bitcoin price looks to hold gains seen since last weekend’s attempted assassination of Donald Trump.

    Mt.Gox transfers over $2.8 billion in BTC

    On Tuesday, Lookonchain shared details of a large BTC transfer.

    Citing data tracked by blockchain analytics firm Arkham, the platform said the transfer originated from the wallet of defunct crypto exchange Mt. Gox.

    The said Mt. Gox wallet moved over 44,500 BTC worth over $2.84 billion, with this going to an internal wallet. Market anticipation is that the exchange’s trustee could be preparing for a repayment round following an announcement in late May.

    Mt. Gox moved 47,000 bitcoins last month ahead of the expected repayments commencement date this July. As then, Tuesday’s transfer saw the price of BTC slip slightly from above $63,000.

    Analysts at Bitfinex said in a report on Monday that while positive news will continue to dictate BTC movement, the threat of fresh sell-off pressure remains. Mt. Gox, which currently holds 138,985 BTC worth over $8.8 billion, is likely to be one source of this anticipated downside pressure.  

    “Crypto asset prices in general in the current period have been determined by the news agenda, rather than fundamentals. Selling pressure concerns have not completely disappeared as Mt. Gox creditors are also scheduled to receive their BTC payouts over the next couple of weeks. We expect these headlines to continue to have some impact on price before a complete pricing in of the situation,” Bitfinex analysts wrote in the weekly report.

    Bitcoin currently trades around $62,835.

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  • Gold ETFs down $2.4 billion in 2024 as BTC and this memecoin soak up liquidity

    Gold ETFs down $2.4 billion in 2024 as BTC and this memecoin soak up liquidity

    It’s 2024, and the investment landscape is undeniably shifting – traditional safe havens like gold ETFs are experiencing notable outflows in contrast to Bitcoin ETFs, which have seen a substantial increase in interest since their debut at the beginning of the year. This change suggests investors are exploring new territories, possibly looking for alternatives that promise both security and growth in these uncertain times as we had highlighted in this article.

    In this narrative, Galaxy Fox ($GFOX) is also heading to a lucrative road, soaking up liquidity and selling out over 2.7 billion tokens throughout the presale. Why is crypto leaning from gold to $BTC, and how is $GFOX surpassing some of the best altcoins?

    Bitcoin vs Gold in 2024

    In the year 2024, the difference between investments in gold and Bitcoin has become much more obvious. A total of $2.4 billion has been pulled out of gold ETFs, with the biggest amounts being $230.4 million and $423.6 million from BlackRock’s iShares Gold Trust Micro and iShares Gold Trust, respectively. 

    In contrast, Bitcoin ETFs have seen an opposite trend. With record-breaking volumes and a noticeable move towards digital assets, the ten authorized spot Bitcoin ETFs have collected an incredible $3.89 billion in inflows since their inception in early January.

    Source: X/Jameson Lopp

     

    There has been an even more fundamental shift in investor attitude, and this change is reflected in the figures. Bitcoin has gained 23.5%, reaching a two-year high, while gold, which is usually a safe haven during uncertain times, has fallen 3.4% to a two-month low. The difference shows that investors are starting to see Bitcoin as a good substitute for gold, attracted by its high return potential in the present economic climate.

    Bloomberg analyst Eric Balchunas is among many who think this trend might mean more diversification into US stocks and digital assets than a straight shift from gold to Bitcoin. It suggests that investors’ priorities are changing and that digital currencies may soon be considered as good as, or perhaps better than, conventional assets like gold as a store of value.

    Investors troop to Galaxy Fox

    Bitcoin’s success is directly reflected in the overall crypto market, and the current crypto stats are no exception. Among the top 10 altcoins, Galaxy Fox is a name you’ll often hear from analysts discussing the potential best altcoins.

    Galaxy Fox, one of the best crypto ICOs so far, is split into ten separate stages, and at each stage, it gradually raises the value of the $GFOX tokens. This means early investors have the chance to see their deposits grow by 450%, a temptation hardly anyone should miss. 

    However, with such a lucrative opportunity, competition arises, and investors have been rushing to soak up the $GFOX tokens at their lowest rate. This has resulted in the presale stages selling out quickly, and currently, $GFOX is on the verge of closing its 8th stage. 

    However, the window to step in and buy $GFOX in the 8th stage is still there, though narrow, and if you make it, you secure yourself a 33% gain, as two more presale stages will naturally increase the price of $GFOX. 

    Notably, the charm of $GFOX is not only in its rewarding presale but also in its hybrid memecoin/P2E ecosystem, which is fully dedicated to community engagement and will reward you at multiple steps during your participation.

    Bottom Line

    As the latest market dynamics show, Bitcoin has become the new gold, which means cryptocurrencies as a whole are about to experience more adoption and trust. 

    In these directions, experts often suggest identifying low-cap gems with tangible utility and future potential, as those are the best altcoins that would pay off the most in the bull run.

    Learn more about $GFOX, visit Galaxy Fox Presale or join the Community.

     

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