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It was revealed that 13 hedge funds, which rank in the top 25 in terms of assets under management in the United States, are investing in Bitcoin (BTC). According to data released by investment company River on the 2nd, as of the end of the first quarter of 2024, 13 of the 25 top U.S. hedge funds held Bitcoin through Bitcoin spot exchange-traded funds (ETFs). In particular, it was revealed that Millennium Management, a major U.S. hedge fund, invested about 2.5% of its operating assets in Bitcoin and held a total of about 27,263 Bitcoins.
2. U.S. court decides this year whether the SEC has authority to punish consensus
The U.S. District Court for the Northern District of Texas announced on the 2nd that it will make a decision within this year on the U.S. Securities and Exchange Commission's (SEC) authority to punish Ethereum developer ConsenSys. Previously, ConsenSys requested a court ruling on the legitimacy of the SEC's recent action to prosecute MetaMask for violating securities laws, and the court approved the request. Bill Hughes, ConsenSys' attorney, said the court's decision will determine whether the SEC has the authority to punish Metamusk and ConsenSys, and the SEC's final response must be submitted before November 26 of this year.
3. Galaxy Digital Digital Asset Manager “Ethereum spot ETF market to be launched in July”
Steve Kurtz, head of Galaxy Digital Digital Assets (Cryptocurrency), announced that the SEC will soon launch an Ethereum spot ETF on the market due to the similarities between the Bitcoin (BTC) spot ETF and the Ethereum spot ETF. In an interview with Bloomberg on the 2nd, CEO Kurtz claimed that the SEC is currently working in detail on approving the market launch of the Ethereum spot ETF and that the Ethereum spot ETF will be launched on the market within a few weeks.
4. Abe adds Arbitrum to the stablecoin GHO distribution network
Cryptocurrency lending platform Abe has added Arbitrum to the distribution network of algorithmic stablecoin GHO. Abe decided to distribute GHO's Arbitrum on the 2nd following a governance vote by the decentralized autonomous organization 'Abe Dao'. GHO will be distributed on Arbitrum through Chainlink’s interoperability protocol CCIP.
Reporter Seungwon Kwon ksw@
