Businesses are absorbing Bitcoin 4x faster than it is mined: Report

Businesses are absorbing Bitcoin 4x faster than it is mined: Report

Businesses are outstripping miner output several times over, potentially triggering a supply shock if exchange reserves continue to dwindle. Private businesses and public companies are absorbing Bitcoin (BTC) nearly four times faster than the rate at which miners are producing new coins, according to Bitcoin financial services company River. These businesses included publicly traded Bitcoin…

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SEC approves conversion of Grayscale's large-cap crypto fund into ETF

SEC approves conversion of Grayscale's large-cap crypto fund into ETF

Grayscale has slowly narrowed the arbitrage opportunities on its crypto trusts by converting them into exchange-traded funds. Asset manager Grayscale received approval from the US Securities and Exchange Commission (SEC) on Tuesday to convert its Digital Large-Cap Fund into an exchange-traded fund (ETF). The fund consists of the five biggest cryptocurrencies by market capitalization featured…

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