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🌙 Bitcoin Slump, BlackRock ETF Inflows Surge

BlackRock's spot Bitcoin ETF saw impressive inflows even during Bitcoin's drawdown.

Author

Mike Gavela
July 10, 2024

Crypto Roundup - July 10

Despite Bitcoin's recent decline, institutional interest remains robust, highlighted by significant inflows into BlackRock's Looney Tunes ETF. This suggests confidence in the long-term potential of Bitcoin and related assets. Meanwhile, the U.S. Department of Energy has initiated the drafting of a comprehensive survey to understand the energy consumption and environmental impact of Bitcoin mining operations, reflecting growing regulatory scrutiny. In the decentralized finance sector, Starknet is set to introduce staking in the fourth quarter, aiming to enhance network security and provide new financial incentives for participants, indicating a maturation of the ecosystem.

Top Stories:

  • Bitcoin's recent decline hides significant inflows into BlackRock's Looney Tunes ETF, showing strong institutional confidence.

  • U.S. Department of Energy begins drafting a new survey focusing on the energy consumption and environmental impact of Bitcoin miners.

  • Starknet will introduce staking in Q4 to boost network security and provide new financial incentives for participants.

TOP STORIES

Bitcoin’s summer slump masks BlackRock’s ‘Looney Tunes’ $120m ETF inflows

BlackRock's spot Bitcoin ETF saw impressive inflows even during Bitcoin's drawdown.

www.dlnews.com/articles/markets/bitcoin-slump-masks-blackrock-looney-tunes-etf-inflows

Dept. of Energy begins process of drafting a new bitcoin miner survey

After the first version drew controversy, the Energy Information Administration is soliciting public feedback.

www.theblock.co/post/304637/dept-of-energy-begins-process-of-drafting-a-new-bitcoin-miner-survey

Starknet token staking proposed to hit mainnet by Q4 2024

Pending community approval, Starknet staking may go live on testnet soon before a planned mainnet launch in Q4 2024.

www.theblock.co/post/304216/starknet-staking-q4

FUNDRAISES

Ex-Morgan Stanley VP raises $3.5 million pre-seed for algorithmic crypto trading platform Tread.fi

Tread.fi, an algorithmic crypto trading platform, has raised $3.5 million in a pre-seed funding round led by New Form Capital.

www.theblock.co/post/304594/tread-fi-crypto-trading-funding-ex-morgan-stanley-vp

OTHER HEADLINES

Mobile Shooter Game ‘For The Win’ Will Launch on Solana - Decrypt

Crypto game studio Jungle announced that it will build the blockchain elements for first-person shooter game For The Win on Solana.

decrypt.co/239208/mobile-shooter-game-for-the-win-solana

BitMEX pleads guilty to Bank Secrecy Act violation

US authorities have charged crypto exchange BitMEX with one count of violating the Bank Secrecy Act by failing to comply with AML guidelines.

cointelegraph.com/news/bitmex-guilty-bank-secrecy-act-justice-dept

Crypto Markets Rally as Fed Chair Cautions Against Prolonged High Interest Rates - The Defiant

Cryptocurrencies continued to rally following the violent weekend sell-off, buoyed by clues that The Fed may soon lower interest rates.

thedefiant.io/news/markets/crypto-markets-rally-as-fed-chair-cautions-against-prolonged-high-interest-rates

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