Bitcoin ETFs Outperform Three Decades of U.S. Launches
Bitcoin Spot Exchange-Traded Funds (ETFs) achieved a historic milestone by accumulating over $6 billion in assets within their first month of trading, surpassing any ETF launched in the United States in the past three decades. This accomplishment occurred as Bitcoin rose above $47,000, making Bitcoin Spot ETFs the only ones among over 5,500 ETFs to reach such a significant milestone within the initial 17 trading days.
Citrea Proposes First ZK Rollup to Make Bitcoin the All-Chain
Citrea, a project that aims to scale Bitcoin through ZK rollups, came out of stealth on Tuesday. The project aims to become a pathway for several initiatives to take advantage of the decentralization and security of Bitcoin while at the same time contributing to scaling and giving developers the ability to adapt Ethereum Virtual Machine (EVM) apps into the protocol.
Short-term custodial crypto accounts soar 250% with Bitcoin ETF hype
The total assets under custodial accounts increased by 250% during the past four months amid the hype surrounding the spot Bitcoin exchange-traded fund (ETF), according to a Bitget report shared with CryptoSlate. Bitget attributed the surge to the broader crypto market performance and the escalating anticipation of a bull run among its users. In addition, the firm identified the integration of cryptocurrencies into daily life activities as another pivotal factor that propelled the sector’s growth.
Bitcoin broke through the $45,000 mark on Thursday, as on-chain data shows miner selling pressure is beginning to ease off. According to CryptoQuant, on-chain data shows that the largest U.S. publicly traded bitcoin mining companies have continued to increase their bitcoin holdings. For example, CryptoQuant's charts show Marathon Digital's bitcoin holdings have increased steadily over the past few months.
SEC Delays Decision on Invesco-Galaxy Spot Ethereum ETF Proposal
May 23 continues to be a significant date for the approval of spot Ethereum ETFs, representing VanEck’s final deadline for approval. The United States Securities and Exchange Commission (SEC) has again delayed its decision on whether to approve or not a joint spot Ethereum exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital. This marks the second postponement after a similar delay in December and aligns with the SEC’s recent trend of pushing back deadlines for Ethereum ETF proposals.