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US Spot Bitcoin Exchange Traded Funds (ETFs) Exceed Critical Level in Net Inflows! Here Are the Details

Less than a year after their debut, U.S. spot Bitcoin exchange-traded funds (ETFs) have surpassed the significant threshold of 500,000 BTC in total net inflows. US Spot Bitcoin ETFs Surpass 500,000 BTC in Net Inflows This success achieved on Wednesday highlights the growing popularity and influence of these investment products in the cryptocurrency market. Launched on January 11, 2024, the 12 US spot Bitcoin ETFs have absorbed more than 2.5% of Bitcoin’s circulating supply, currently estimated at 19.8 million BTC. According to Vetle Lunde, Head of Research at K33, this equates to over 500,925 BTC in total inflows. On Wednesday alone, $223.1 million flowed into these ETFs, led by Fidelity’s FBTC fund, accounting for $121.9 million of the total. Year to date, the ETFs have maintained a 10-day inflow streak and have amassed approximately $4.3 billion in assets with net inflows of $34.7 million in dollar terms since launch. BlackRock’s IBIT ETF leads the way with on-chain assets exceeding 520,000 BTC, surpassing BlackRock’s iShares Gold Trust (IAU) in terms of assets under management (AUM), which currently exceeds $50 billion. Fidelity`s FBTC ETF follows with over 247,000 BTC. Grayscale’s GBTC fund held 619,000 BTC before being converted to an ETF, but now holds 210,000 BTC after significant outflows. The combined assets of US spot Bitcoin ETFs have also surpassed the estimated 1.1 million BTC attributed to Bitcoin`s pseudonymous creator, Satoshi Nakamoto. *This is not investment advice. Continue Reading: US Spot Bitcoin Exchange Traded Funds (ETFs) Exceed Critical Level in Net Inflows! Here Are the Details CoinOtag

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a16z’s Brian Quintenz To Be The Next CFTC Chair: Insider Scoop

The post a16z’s Brian Quintenz To Be The Next CFTC Chair: Insider Scoop appeared first on Coinpedia Fintech News As Donald Trump’s administration gears up, Brian Quintenz, a former commissioner of the U.S. Commodity Futures Trading Commission (CFTC), has emerged as a top contender for the role of CFTC Chair. If appointed, this move could mark a significant step toward clearer and more crypto-friendly regulations in the U.S. Top Pick For CFTC Chair According to recent reports, Brian Quintenz has been interviewed for the position of CFTC Chair under the Trump administration. His extensive experience in policymaking and his current role as head of policy at Andreessen Horowitz’s crypto division, a16z, make him a strong candidate for the role. During his time at the CFTC from 2017 to 2021, he worked to integrate digital assets into the agency’s regulatory framework. His efforts focused on supporting innovation while maintaining market fairness and protecting investors. At a16z, one of the largest investors in the crypto space, Quintenz continues to support the industry’s growth. The firm has backed numerous blockchain and crypto projects, including well-known names like Maker, Solana, Avalanche, Aptos, EigenLayer, Lido, Nansen, OpenSea, and Coinbase. Will Quintenz Resolve the SEC-CFTC Tug-of-War However, Quintenz’s possible leadership comes at a time when there is confusion over which agency, the CFTC or the SEC, has authority over different crypto assets. He has openly criticized the SEC , particularly its handling of Ether (ETH). Earlier this year, he pointed out that the SEC’s approval of Ether futures ETFs contradicted claims that ETH might be a security. His stance reflects a pro-crypto approach, pointing to the need for consistency and clarity in regulating digital assets. Hope for a Pro-Crypto Leadership Many analysts are optimistic that Quintenz’s leadership could pave the way for a friendlier regulatory environment. With pro-crypto appointments like Paul Atkins at the SEC, the Trump administration seems poised to address longstanding concerns over regulatory clarity. If appointed, Quintenz’s vision could play a key role in shaping a future where innovation thrives alongside fair regulation. CoinOtag