DeFI News by Thebittimes.Com

Cardano (ADA) is navigating a pivotal moment in the market, currently trading at $0.788 with a robust $27.9 billion market cap, as investors weigh its 31.68% pullback from monthly highs against a resilient 39.54% rebound from recent lows. Technical patterns hint at recovery potential, with eyes on critical resistance at $0.843 and bullish catalysts like Grayscale’s ADA ETF approval and speculation around a Microsoft collaboration fueling optimism. Could this blend of technical momentum and strategic developments propel ADA toward reclaiming its $1.327 high? ADA Key Statistics Current Price: $0.788 Market Cap: $27.9 billion Trading Volume (24h): $1.53 billion Circulating Supply: 35.2 billion ADA Total Supply: 45 billion ADA CoinMarketCap Ranking: #9 Cardano has pulled back 31.68% from its highest point in the past 30 days and 3.25% from its weekly peak. However, despite these declines, it has shown strong resilience, climbing 39.54% from its lowest recorded price durin...

US spot Bitcoin and Ethereum ETF (exchange-traded fund) outflows collectively topped $470 million yesterday. Data from Farside Investors shows that the BTC funds recorded the largest outflows, with more than $415.1 million leaving the investment products’ reserves collectively on Dec. 30. Meanwhile, ETH ETF reserves fell by $55.5 million. Fidelity Leads In Bitcoin And Ethereum ETF Outflows Both Fidelity’s BTC and ETH ETFs registered the biggest outflows. Yesterday, Fidelity’s FBTC posted $154.6 million outflows. This was after $208.6 million left the fund the day before. The next biggest outflows were posted by Grayscale’s GBTC with $134.5 million leaving the fund. Similarly, BlackRock’s IBIT, Bitwise’s BITB, Invesco’s ARKB and Grayscale’s BTC all experienced outflows. The remaining US BTC ETFs recorded no new glows. Good morning, Yesterday's Bitcoin ETF flows were negative for $415.1 milion. Fidelity had $154.6 million of outfl...

In a massive development for the crypto, Grayscale is set to launch the first US XRP trust. Indeed, the crypto asset manager announced the trust’s development on Thursday. Moreover, it will serve as a “closed-end” fund to grant certain investors XRP exposure, a Fox Business report states. The development has reignited talk of an XRP ETF. The asset management firm had two previous crypto investment trusts for Bitcoin and Ethereum. Earlier this year, both of those eventually became ETFs, with the products receiving approval earlier this year. JUST IN: Grayscale to launch $XRP trust fund. — Watcher.Guru (@WatcherGuru) September 12, 2024 Also Read: Grayscale Reveals Investment Trust For Avalanche AVAX Grayscale to Launch XRP Trust: Is an ETF Next? At the start of the year, few cryptocurrencies had the kind of potential XRP had. With Ripple’s years-long US Securities and Exchange Commission (SEC) lawsuit coming to an end, traders saw massive gains as a possibili...

The Grayscale Bitcoin Trust is the largest asset held by the ARK Next Generation Internet ETF, accounting for more than 10% of its portfolio. Investment firm ARK is selling Grayscale Bitcoin Trust (GBTC) shares amid a market surge fueled by anticipation of a spot BTC exchange-traded fund (ETF). On Oct. 23, ARK — headed by pro-Bitcoin (BTC) investment veteran Cathie Wood — sold 100,739 GBTC shares ($2.5 million) from ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph. The transaction comes as GBTC touched multi-month highs, reaching $24.7 for the first time since May 2022. According to data from TradingView, GBTC has surged more than 200% year-to-date and is up nearly 30% over the past 30 days. The GBTC sale marks ARK’s first officially reported GBTC transaction since November 2022, when the firm added 450,272 GBTC shares worth $4.5 million to ARKW. The latest GBTC sale amount accounts for about 2% of all GBTC value in ARKW’s portfolio, ...

The regulator has asked Grayscale to withdraw its application for a Filecoin Trust product, saying its underlying asset "meets the definition of a security." The United States Securities and Exchange Commission (SEC) believes Filecoin’s native FIL token is a security , crypto asset manager Grayscale Investments has revealed. According to the May 17 announcement, Grayscale lodged an application with the regulator to launch a Filecoin Trust product on April 14, which would provide investors with indirect exposure to the underlying FIL token. In a comment letter from SEC staff on May 16, the regulator then warned Grayscale that FIL “meets the definition of a security ” under federal law and asked them to withdraw their application for the Trust product. Grayscale stated that under its view, Filecoin is not a security and will be sending an explanation to the SEC for its reasoning. “Grayscale does not believe that FIL is a security under the federal securities laws and intend...

Bad times for the Grayscale Bitcoin Trust (GBTC) get even worse this week as its discount to BTC/USD approaches 50% for the first time. Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), is trading close to 50% below the BTC price on spot markets. Data from on-chain analytics platform Coinglass confirms that on Dec. 8, GBTC shares hit a new record low of -47.2% against BTC/USD. GBTC troubles pile up post-FTX In the latest bout of nerves to hit the Bitcoin industry since the fall of FTX, GBTC is nearing half-price versus the price of Bitcoin. The largest institutional Bitcoin investment vehicle, with assets worth around $10 billion, GBTC has faced numerous challenges in recent years. The price of its shares previously traded higher than BTC/USD, resulting in what was called the “ GBTC premium .” Since 2021, however, that premium has turned negative, but the resulting “discount” has done little to lure additional institutional interest. As Cointelegraph reported, be...