Vanguard Blocks Bitcoin ETFs, Users Threaten To Leave
Vanguard Blocks Bitcoin ETFs, Users Threaten To Leave
Sen. Warren Slams ETF Approval, USDC's Circle Files For IPO, Berachain Launches Testnet
Welcome to Coinfeeds Daily Digest! Today we cover Cathie Wood predicting a $1.5 million Bitcoin by 2030, a Solana MEV (Maximal/Miner Extractable Value) bot having earned $1.8 million from a single Dogwifhat transaction bundle, and Circle is once again trying to dip its toes into public markets as it files for IPO. Vanguard restricted customer access to Bitcoin ETFs and stated that their high volatility is bad for long-term returns, to which users responded by threatening to close their accounts. Cantor Fitzgerald, H.C. Wainwright & Co., and other firms' analysts suggest that the ETFs will create a major BTC demand shock and that miners will greatly benefit from this. On the first day of trading, Bitcoin ETFs hit $4 billion in volume.
Market Update
News
Vanguard Restricts Customer Access To Bitcoin ETFs
Vanguard has made it clear that it will not be offering spot Bitcoin ETFs to its customers. The company's spokesperson emphasized that the high volatility associated with cryptocurrencies does not align with Vanguard's investment philosophy, which prioritizes long-term returns over speculative bets. | Read More
Bitcoin ETFs A Game-Changer For Miners
Analysts from financial firms such as Cantor Fitzgerald and H.C. Wainwright & Co. suggest that the introduction of Bitcoin ETFs will create a major demand shock for BTC. This is particularly significant considering the upcoming Bitcoin halving event in April 2024, which will cut the reward for mining new bitcoins by half. | Read More
USDC Issuer Circle Files For IPO
In 2022, the company attempted to go public through a special purpose acquisition company (SPAC) deal, which valued Circle at $9 billion. This deal ultimately did not materialize. Despite this setback, Circle's continued growth has set the stage for another attempt at going public. | Read More
Cathie Wood Predicts $1.5M Bitcoin By 2030
In her analysis, Wood presents three scenarios for Bitcoin's future value: a bear case, a base case, and a bull case. Her bear case is $258,500, her base case is $682,800, and her bull case is $1.5 million. | Read More
Solana MEV Bot Earns $1.8M in Single Transaction
A Solana-based bot, operated by an entity known as 2Fast, managed to earn a staggering $1.8 million from a single transaction. This event has sparked discussions about the concept of MEV and its implications for traders and the market as a whole. | Read More
Berachain Launches Artio Testnet Ahead of Q2 Mainnet
Artio is not just another testnet. It is the precursor to Berachain's mainnet and introduces a novel 'proof of liquidity' consensus mechanism. This mechanism is designed to align the incentives between ensuring network security and providing liquidity. | Read More