Crypto investment products have seen a net outflow of around $424 million since Monday, according to data from CoinShares.
The two firms expect demand for crypto-focused tax solutions to rise in the U.S. as the buying and selling of digital assets increases.
The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 17, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
ARK sold a similar amount – $15.8 million – worth of shares in the ProShares Bitcoin Strategy ETF (BITO), the first ETF linked to the bitcoin futures market to list in the U.S.
Garlinghouse also confirmed the company had explored markets outside the U.S. for an Initial Public Offering, but plans are on hold for now.
The crypto market’s de-dollarization expectations look premature as the greenback remained the preferred currency in international transactions in 2023.
Indonesian crypto exchanges saw a sharp 60% drop in trading volumes in 2023, challenging its reputation as a fast adopter of digital assets.
Some have forecasted sharp declines in bitcoin’s price as traders ‘sell the news’ post-ETF approval, but Fidelity’s Director of Global Macro disagrees.
Ethereum core developers deployed the Dencun upgrade with proto-danksharding (EIP-4844) on the Goerli test network.
Developers said the missed finalization was likely due to an expected lack of participation and older network validators.
