By Kapil Rajyaguru
BlackRock’s $26 bn Bitcoin ETF Crowned Fastest Growing Fund.
Bitcoin has become a major focus for U.S. wealth management heavyweight BlackRock as its spot Bitcoin ETF outpaced several traditional finance offerings.
Investors have injected $26 billion into BlackRock’s IBIT, 10 months after spot Bitcoin ETFs debuted in mid-January. The fund has broken into the top 2% of all ETFs in the U.S., and last week’s inflows marked another milestone for BlackRock’s Bitcoin ETF.
BlackRock’s IBIT accounted for half of the $2.2 billion in inflows recorded by U.S. spot Bitcoin ETFs between Oct. 14 and Oct. 18. The $1.1 billion inflows buoyed IBIT to the third highest flows year-to-date. It was also IBIT’s best week since March, confirming its status as the fastest-growing ETF on Wall Street and in financial history.
Japan’s Metaplanet Plans Major Bitcoin Expansion with $6.6mn Stock Sale.
Metaplanet Inc., a hotel asset management and operations focused company, has taken a major step to expand its Bitcoin (BTC) holdings through a large stock sale. In August, the company’s board approved a plan to raise over ¥10 billion, around $6.6 million, by issuing the 11th series of stock acquisition rights.
Earlier today, Metaplanet announced it had successfully concluded the exercise period for its 11th Stock Acquisition Rights, achieving a 72.8% exercise rate. A total of 13,774 individual shareholders participated in the stock acquisition rights, and the company will announce final results after transferring any unexercised rights to EVO FUND.
Metaplanet currently holds about 861.387 Bitcoins, which were purchased at an average price of about ¥9,313,428 and are right now worth over ¥8 billion. With the completion of the stock acquisition rights, Metaplanet plans to significantly increase its Bitcoin holdings in the near future.
Ripple Co-Founder Chris Larsen Pours Another $10mn XRP Into Kamala Harris’ Presidential Bid.
Chris Larsen, co-founder of Ripple, has pledged to donate an additional $10 million in XRP to support Kamala Harris’s presidential campaign.
Larsen has made several generous contributions to Future Forward, a super political action committee (PAC) backing Harris. In August and September, Larsen donated $10 million in cash and $1 million in XRP. The Ripple co-founder’s latest donation has sparked debate among XRP proponents.
Additionally, Ripple has poured millions into supporting Republican John Deaton, who is challenging Senator Elizabeth Warren in the high-stakes Massachusetts Senate race.
Indonesia Extends Deadline for Crypto Exchange License Requirements.
Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has extended the deadline for crypto exchanges to meet licensing requirements to become Physical Crypto Asset Traders until the last week of November.
The extension follows updates released on October 18 to current regulations. Exchanges now need to form partnerships with local government bodies and introduce Know Your Transactions standards to remain compliant.
You need to login in order to Like
