The competition among spot Bitcoin ETFs is seriously heating up with Grayscale outflows declining, but now, so are the fees being charged by the Newborn Nine. Shortly before the final SEC approval of the swathe of spot Bitcoin ETFs, which entered the market earlier this month, several ETF issuers dropped their fees in last-minute filings. The post New zero fee standard for Bitcoin ETFs creates cheap custodial alternative to exchanges appeared first on CryptoSlate.

PayPal’s entrance into the stablecoin market on Aug. 7, 2023, was welcomed by many in the industry, with Circle CEO Jeremy Allaire stating that competition from PayPal was ‘great to have.’ The news of the launch led to a modest 4% rise in the price of Bitcoin, and within days, exchanges were offering low-fee promotional The post What happened to PayPal stablecoin PYUSD after last year’s launch? appeared first on CryptoSlate.

A novel aspect of the new spot Bitcoin ETFs, as approved by the SEC, is the cash-creation mechanism for issuing and redeeming shares. The ETFs are considered commodity-shares ETFs, yet, as BlackRock points out in its iShares Bitcoin ETF (IBIT) prospectus, “all spot-market commodities other than bitcoin, such as gold and silver, employ in-kind creations The post BlackRock warned SEC lack of in-kind orders for Bitcoin ETF shares could hurt investors appeared first on CryptoSlate.

The Newborn Nine spot Bitcoin ETFs recently launched in the US have seen their combined assets under management explode to $5.1 billion in the nine trading days since their launch. However, throughout this period, the price of Bitcoin has fallen roughly 20%. The share prices for these ETFs have also fallen in line with Bitcoin. The post Why declining prices did not stop Bitcoin holdings increasing for new ETFs appeared first on CryptoSlate.

With Bitcoin down some 20% from its year-to-date high, it’s often helpful to zoom out and look at the broader picture. I have a saved chart of all the tokens listed in the Coinbase and Binance lawsuits filed (C&B suits) on June 6 and June 5, 2023, respectively, and their prices as denominated in Bitcoin. The post Solana and ICP up over 49% against Bitcoin since SEC labeled them as securities appeared first on CryptoSlate.