HomeInvestmentsCryptocurrencyBitcoin Breaks Record: Prepare for a Wild Ride with Unprecedented Volatility

Bitcoin Breaks Record: Prepare for a Wild Ride with Unprecedented Volatility


Today, Bitcoin hit another record high, reaching $72,982, but has since declined slightly to $71,000.

VanEck, the issuer of the HODL Bitcoin ETF, is slashing its sponsor fee to drive investment.

The fee will be waived for the first $1.5 billion in assets under management until March 2025, and 0.2% thereafter.

Grayscale, the issuer of the popular GBTC Bitcoin trust, is planning to launch a smaller, lower-fee ETF called BTC as a spin-off from GBTC.

This will allow holders of GBTC to access the new ETF without incurring capital gains tax.

CoinShares has acquired Valkyrie’s ETF business, including Valkyrie’s Bitcoin fund.

This acquisition strengthens CoinShares’ position in the US digital asset market, where it plans to offer a range of ETF products through its recently acquired infrastructure.

CEO of CoinShares, John Marie Manetti, believes that Bitcoin is an asset with a limited supply and unlimited trust, which makes it a “non-linear” asset.

He sees the US as an opportunity for further Bitcoin adoption and plans to position CoinShares to benefit from this growth.

Manetti also discussed the upcoming Bitcoin halving, an event where the reward for mining Bitcoin is cut in half.

He believes this event will have a significant impact on the long-term value of Bitcoin and may accelerate its adoption as a store of value.

  • Key Takeaways

VanEck cuts fees and Grayscale plans a lower fee ETF to attract investors.

VanEck and Grayscale, two major cryptocurrency investment providers, are taking steps to make it more appealing to invest in Bitcoin through ETFs by reducing sponsor and administrative costs.

CoinShares acquired Valkyrie’s ETF business and plans to expand its digital asset offerings in the US.

CoinShares’ acquisition of Valkyrie’s ETF business positions the company to profit from the projected rise in Bitcoin adoption and the expansion of the digital asset market in the US.

Significant long-term value increase in Bitcoin may result from impending halving event.

The halving of Bitcoin mining rewards might have a big influence on its long-term value and encourage further use as a store of value.

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