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BlackRock Spot Bitcoin ETF Trades over $1 Billion So Far Today In New Milestone

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In a significant milestone for spot Bitcoin exchange-traded funds (ETFs), BlackRock’s spot Bitcoin ETF has recorded over $1 billion in trades today alone, according to Bloomberg Senior ETF Analyst Eric Balchunas. This achievement underscores the growing demand for Bitcoin investment products and highlights the increasing acceptance of Bitcoin within traditional finance.

MILESTONE $IBIT has traded $1b worth of shares today so far.. which ranks it 11th among all ETFs (Top 0.3%) and Top 25 among stocks. Insane number for newbie ETF (esp one w ten competitors). $1b/day is big boy level volume, enough for (even big) institutional consideration. pic.twitter.com/1vxW5jhaXT

— Eric Balchunas (@EricBalchunas) February 26, 2024

BlackRock, one of the world’s largest asset managers, launched its spot Bitcoin ETF earlier this year, offering investors exposure to BTC without the need for direct ownership or custody. The ETF’s ability to attract such substantial trading volume in a single day reflects investors’ appetite for Bitcoin as a legitimate asset class.

The $1 billion trading volume signals strong investor interest in Bitcoin amid ongoing market volatility and economic uncertainty. As institutional and retail investors seek diversified portfolios and alternative stores of value, Bitcoin has emerged as attractive investment option.

“Insane number for newbie ETF (esp one w ten competitors),” commented Balchunas. “$1b/day is big boy level volume, enough for (even big) institutional consideration.”

Forgot to mention that $1b (so far) today is a personal record for $IBIT. And note volume isn’t flows yes, but in many ways it is just as imp long term. Liquidity decreases friction and cost and increases anonymity. That’s why institutions tend to only use big volume ETFs

— Eric Balchunas (@EricBalchunas) February 26, 2024

The ETF’s success in reaching the $1 billion trading milestone reaffirms the growing mainstream acceptance of Bitcoin as a legitimate investment asset. And as the spot Bitcoin ETFs continue to grow, they’re are expected to play a big role in bridging the gap between traditional finance and getting Bitcoin exposure.

As soon as markets opened on Monday, Bitcoin began to sharply rise in price, hitting highs not seen since December 2021.

U.S. Monday market open. $BTC bid. pic.twitter.com/SQGXR69weX

— Dylan LeClair 🟠 (@DylanLeClair_) February 26, 2024

​ Bitcoin has soared past $54,700 today, reaching highs not seen since December 2021. 

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Forbes Predicts 1700% Shiba Inu Coin Price Rally, Could Shiba Shootout Also Explode? – Branded Spotlight Bitcoin News

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Shiba Inu has once again captured the spotlight with the token seeing a significant price rise with the recent market uptick. According to a recent Forbes

​ Shiba Inu has once again captured the spotlight with the token seeing a significant price rise with the recent market uptick. According to a recent Forbes 

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Mt Gox Funds Arrive at Kraken: Bitcoin and Bitcoin Cash Distributions Expected Soon

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According to a recent update from Kraken, the centralized cryptocurrency exchange has received funds from the Mt Gox trustee.

​ According to a recent update from Kraken, the centralized cryptocurrency exchange has received funds from the Mt Gox trustee. 

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Bitso to Bring Bitcoin Lightning to its 8 Million Users via Lightspark

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Leading Latin American crypto exchange Bitso has partnered with Lightspark to integrate the Bitcoin Lightning Network onto its platform. This will introduce faster, cheaper Bitcoin transactions to Bitso’s user base of over 8 million retail clients and 1,700 institutional customers.

Bitso will leverage Lightspark’s infrastructure to enable Lightning transfers. Lightspark will host the nodes while Bitso retains control of the private keys in a remote signing setup.

The integration comes as Lightning Network adoption spreads globally, making payments with Bitcoin faster, smoother and less expensive.

According to Bitso’s research, 53% of crypto wallets in Latin America hold Bitcoin. Trading pairs against local fiat currencies are also widely used. Thus, Lightning is a natural fit to upgrade Bitso’s existing infrastructure.

Daniel Vogel, co-founder and CEO of Bitso, said, “We’re thrilled to partner with Lightspark to bring Lightning to our platform. This advances our mission of making crypto useful by delivering faster, more cost-effective, and transparent money transfers.”

With Lightning, Bitso can offer near-instant Bitcoin transactions at a fraction of the cost of regular on-chain Bitcoin payments. This unlocks new potential payment and remittance solutions for both retail and enterprise clients.

Lightspark CEO David Marcus said Bitso “shares our vision of building open payments for the Internet. This gets us closer to that goal. We know people across Latin America want this solution.”

As a pioneering Latin American exchange with millions of users, Bitso’s integration of Lightning is a milestone in increasing Bitcoin adoption. 

​ Leading Latin American crypto exchange Bitso has partnered with Lightspark to bring faster, cheaper Bitcoin Lightning transactions to Bitso’s 8 million users. 

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