BlackRock's $BTC Trust was here... now it's gone? 🧐
Diving deep: Why Bitcoin soared and MicroStrategy's gold mine. 🍯🌩️
Buzzing In! 🐝 Welcome to Web3 Buzz, your digital beehive of all things decentralised.
Did you catch the latest buzz? Bitcoin took a soaring flight, crossing $35K after a 17-month hiatus. But as it soared, BlackRock's spot bitcoin ETF seems to have taken a stealthy exit from the DTCC list. The hive is abuzz with speculation!
Today's honey-dripped headlines:
The enigma of BlackRock's Bitcoin ETF disappearance 🕵️
Bitcoin's Sudden Rise Triggers Mega Liquidations 🌪️
MicroStrategy's Bitcoin stash skyrockets to a whopping $4.8 billion! 🚀
BlackRock's Bitcoin ETF disappearance 🕵️
The crypto world was all shades of green the other day! From light to emerald, you name it.
So, what turned the market into a verdant landscape of gains? The big buzz was all about the Bitcoin ETF.
Here's the tea:
1. BlackRock's BTC Moves 🚀
BlackRock made some key strides towards launching its ETF:
They got a CUSIP number. Think of this as the social security number for securities in the U.S. and Canada.
They hinted at “seeding” the ETF soon, which is kinda like prepping for a mini-IPO.
All these signals had everyone thinking a Bitcoin ETF was coming soon. Oh, and the ETF even had a name: iShares Bitcoin Trust, with a trading ticker... $IBTC. (Personally, we think $GRDT would've been cooler, but hey, who are we to judge?)
Web3 Buzz Rating of $IBTC: 3.5/10. 🥴
2. DTCC Listing... and then Ghosting 👻
Just when we thought things were heating up, the ETF showed up on the DTCC website (big deal, BTW). But hold your horses, in a twist that no one saw coming, iShares Bitcoin Trust disappeared from the DTCC list! This played peek-a-boo with Bitcoin's price, pushing it up to a whopping $35,000, then pulling it back down to around $33,679.
3. Courtroom Drama ⚖️
On the other side, there's Grayscale, fighting for its Bitcoin ETF spot. The SEC has been playing hard to get, denying their applications. But then, a U.S. Court of Appeals joined the drama, telling the SEC to either work with Grayscale or find a legit reason to say "No."
Our Take: The road to a Bitcoin ETF has more twists and turns than our favorite rollercoaster. It's not about if it’ll come, but when.
For now, let’s keep an eye on those prices and enjoy the ride. And remember, always buckle up!
💸 Bitcoin's Sudden Rise Triggers Mega Liquidations
In a startling move on Monday, Bitcoin's spike led to the liquidation of over $220 million in short positions.
Leveraged bets took a hit as derivative traders faced liquidations north of $400 million within a day.
A remarkable 14.8% jump saw Bitcoin leap past the $35,000 mark in just 24 hours.
The drama heightened on Tuesday, marking the heftiest liquidation wave since that fateful day on August 17 when Bitcoin tumbled under $25,000.
WEDNESDAY WEB3 HIRING 💼
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THE BUZZ REPORT: TOP STORIES 📰
MicroStrategy's Bitcoin holdings, the most sizable among public companies, rebounds, now valued at roughly $4.8 billion.
Chainalysis reports the U.S., along with Canada, leads in global crypto activity, representing almost a quarter (~$1T) of transactions from July 2022 to June 2023.
Web3 security firm, Blockaid, secures $33M in funding, offering tools to safely test dApp user interactions without jeopardizing assets.
Deutsche Bank and SC Ventures achieve the inaugural stablecoin swaps on the Universal Digital Payments Network, trading between USDC and EURS using their digital wallets.
Buzz-worthy Meme 🐝
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.