Published on juli 29, 2024, 12:34 am
Image source: Fox News
```json [ { "TLDR": "BlackRock's iShares Bitcoin Trust ETF (IBIT) saw a record $523 million inflow, Revolut secured a UK banking license, India's NCB monitors crypto for drug trafficking, US Ether ETFs had positive debut, potential for Bitcoin as US government reserve, and recent cryptocurrency prices and market analysis." } ] ```
BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded a significant milestone with over $523 million flowing into the fund on July 23, marking its largest day of inflows in more than four months. Data from Hey Apollo indicated that the IBIT acquired 7,759 Bitcoin on July 22, valued at just over $523 million. This boost brought IBIT’s total assets under management to 333,000 BTC, equivalent to around $22 billion in today’s prices.
Revolut, the London-based fintech company, achieved a major accomplishment by securing a banking license in the United Kingdom after a rigorous three-year regulatory process. This achievement signals a crucial moment for Revolut as it strengthens its position in the UK market and prepares for a full-scale banking launch. With Nik Storonsky, Revolut’s CEO expressing pride in this milestone and emphasizing their commitment to becoming the preferred bank for UK customers.
India’s Narcotics Control Bureau (NCB) unveiled its strategy to monitor cryptocurrency transactions on the darknet as part of its mission to combat drug trafficking. Nityanand Rai, India’s minister of state for home affairs, shared insights during a Parliamentary discussion about the growing use of cryptocurrencies in drug-related crimes and highlighted efforts to address this issue through concrete action plans.
In the realm of cryptocurrency exchange-traded funds (ETFs), United States Ether ETFs displayed promising signs with net inflows totaling $106.6 million on their debut trading day. Notably, BlackRock’s iShares Ethereum Trust ETF led with $266.5 million in inflows followed by Bitwise Ethereum ETF and Fidelity Ethereum Fund ETF. These positive developments came despite significant outflows from Grayscale’s Ethereum Trust on the same day.
Asset manager Bryan Courchesne discussed Bitcoin’s potential as a strategic reserve asset for the US government under a prospective future Trump administration. The Department of Justice’s extensive holdings of Bitcoin were highlighted as an example supporting the idea that Bitcoin could become an essential asset alongside gold reserves.
As for recent price updates within the Cryptocurrency market domain; Bitcoin was noted at $67,636 along with Ether at $3,260 and XRP at $0.59 towards week’s end. Market analysis revealed notable gains and losses among altcoins with Helium (HNT), SATS (1000SATS), and Pyth Network (PYTH) leading in gains while Lido DAO (LDO), Worldcoin (WLD), and Mog Coin (MOG) experienced declines.
In conclusion, these events illustrate ongoing momentum within the Cryptocurrency space reflected through significant fund flows into Bitcoin-related entities and regulatory advancements shaping how digital assets are perceived globally.
Original article posted by Fox News
