BlackRock Bitcoin Holdings Eclipses MicroStrategy!

BlackRock's IBIT ETF now holds about 195,985 BTC, surpassing MicroStrategy's 193,000 BTC.

Author

Danielle du Toit
March 11, 2024

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Here's what we've got for you today:

  • BlackRock Overtakes MicroStrategy in Bitcoin Holdings

  • Appeals Court Revives Investor Lawsuit Against Binance

  • Hong Kong Financial Institutions Eye Ethereum ETFs to Bolster Global Crypto Market Position

  • Dogwifhat Community Plan to Put the Meme on the Vegas Sphere

The BlackRock iShares Bitcoin ETF (IBIT) has exceeded the amount of Bitcoin held by MicroStrategy.

  • The BlackRock iShares Bitcoin ETF (IBIT) now holds about 195,985 Bitcoin, surpassing MicroStrategy's 193,000 tokens.

  • Since the launch of spot ETFs on Jan. 11, IBIT has attracted quite a lot of investment, often receiving daily contributions worth hundreds of millions of dollars in Bitcoin.

  • On the other hand, Grayscale's Bitcoin Trust has seen a decrease, shedding over 200,000 Bitcoin after hitting the spot ETF market.

Despite the fact that Binance is facing increased legal heat from all sides, BNB is proving its resilience by reaching new highs.

  • A U.S. appeals court overturned a district court's decision to dismiss a lawsuit against Binance, started by investors claiming the exchange sold securities without the necessary registrations.

  • The lawsuit, started by Chase Williams in April of 2020, was revived by the appeals court, which found the district court's dismissal based on statutes of limitations to be incorrect.

  • Despite ongoing legal challenges, Binance's native token, BNB, experienced an impressive increase in value, rising by about 62% in 30 days.

Financial institutions in Hong Kong are gearing up to meet the increasing interest in cryptocurrency investment offerings.

  • Hong Kong began accepting applications for Bitcoin spot ETFs in December of last year, but no such products have been launched just yet, risking Asian investors falling behind Americans.

  • To address this disparity, Hong Kong institutions are now working on launching Ethereum spot ETFs.

  • Their aim is to outpace the United States and strengthen Hong Kong's standing in the international crypto market.

Members of the Dogwifhat community are collecting $650,000 to feature the meme on the Vegas Sphere.

  • The Sphere, a large entertainment venue with seating for over 18,600 people, features an exterior that serves as a massive display panel, available for rent at $450,000 a day.

  • A donation page has been set up and has already raised almost $300,000 towards a $650,000 goal, with contributions ranging from $1 to $9,999.

  • Developers have even proposed creating a "Sphere Wif Hat" crypto token, aiming for its value to surge enough to achieve the fundraising target.

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