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[Jersey City Pension Fund in New Jersey, USA will invest in Bitcoin ETF]
Jersey City, New Jersey, Mayor Steven Fulop announced on Thursday that the city's pension fund will allocate a certain percentage of its investments to a Bitcoin exchange-traded fund (ETF).
Fulop wrote on social media platform X that Jersey City’s pension fund is in the process of updating its filings with the SEC, similar to the one in Wisconsin. The mayor estimates the process will be complete by the end of the summer.
Fulop said on X Platform: "The question of whether cryptocurrencies and Bitcoin will continue to exist is basically over. Cryptocurrencies and Bitcoin have won. I have always believed in cryptocurrencies (through ups and downs), but in a broad sense, beyond cryptocurrencies, I do believe that blockchain is one of the most important new technological innovations since the Internet."
[Trump campaign has raised more than $4 million through cryptocurrencies such as Bitcoin ]
According to CNBC, former US President Donald Trump’s campaign aides revealed that Trump, as the Republican presidential candidate, has raised more than $4 million from various digital tokens.
According to a Federal Election Commission filing, donors gave bitcoin, ethereum, Ripple ’s XRP token, the stablecoin USDC , and various meme coins.
The documents show that at least 19 donors gave more than $2.15 million in bitcoin to the committee. Crypto billionaire twin brothers Tyler and Cameron Winklevoss led the donations, each donating 15.57 bitcoins, or just over $1 million at the time of the donation. Because their donation exceeded the $844,600 limit, the documents show that some of the funds were returned. Mike Belshe , CEO of digital asset security company BitGo, donated $50,000 in bitcoin.
[A wallet suspected to be associated with the Ethereum Foundation transferred more than 92,000 ETH after being dormant for 7 years]
According to data from blockchain analysis platform Arkham Intelligence, about three hours ago (UTC time July 25, 03:39:23PM), an address possibly related to the Ethereum Foundation transferred more than 92,000 ETH, worth approximately US$290 million, after being dormant for 7 years. These tokens have been stored at the same address since 2017.
Etherscan data shows that as of press time, the funds have not been moved from the recipient address, and it is unclear whether the Ethereum Foundation is responsible for these fund transfers.
[Spot Ethereum ETF trading volume fell below $900 million on the third day]
According to data compiled by The Block Pro Research, the spot Ethereum ETF's trading volume fell below $900 million for the third day, at about $850 million. The trading volume exceeded $1.05 billion on Tuesday and exceeded $950 million on Wednesday.
At press time, ETH is down nearly 8% at $3,102, with trading volume reaching $25.9 billion in the past 24 hours.
[ BlackRock executive: Investors' interest in other crypto ETFs other than Bitcoin and Ethereum is "very small"]
Robert Mitchnick, head of digital assets at asset manager BlackRock, said at the Bitcoin 2024 conference in Nashville, Tennessee on July 25 that clients have “little to no interest” in cryptocurrencies other than Bitcoin (BTC) and Ethereum (ETH) and does not expect to see many cryptocurrency exchange-traded funds (ETFs) beyond the two core digital assets.
Mitchnick said: “I would say that our client base today, their interest is first in Bitcoin, second in ETH… Other than those two, there is almost no interest right now. I don’t think we will see a large number of cryptocurrency ETFs.”
Mitchnick said that most of BlackRock's clients view BTC and ETH as complements rather than competitors.
[Bitcoin mining company MARA recently purchased $100 million worth of Bitcoin and currently holds more than 20,000 Bitcoins]
According to The Block, Bitcoin mining company MARA (formerly Marathon Digital) recently announced that it has purchased $100 million worth of Bitcoin, bringing its Bitcoin holdings on its balance sheet to more than 20,000, equivalent to about $1.3 billion, close to 0.1% of the total supply of Bitcoin. MARA Chief Financial Officer Salman Khan said the company made this strategic purchase under favorable market conditions, but did not disclose the specific purchase time and average price.
According to Bitcoin Financial data, MARA held 18,536 BTC at the end of June, so this purchase may be about 1,500 BTC, with a price range of $54,000 to $68,000. MARA also stated that it will fully adopt a "HODL" strategy, retaining all Bitcoins obtained from mining, and plans to make additional purchases regularly. Fred Thiel, chairman and CEO of the company, emphasized that Bitcoin is the world's best reserve asset and encourages governments and companies to hold it as a reserve asset.
In addition, MARA has reduced the proportion of Bitcoin sold from 56% in 2023 to 31% in 2024. Khan pointed out that given the current market environment for Bitcoin and the increase in institutional support, MARA decided to re-implement this strategy and focus on increasing Bitcoin holdings on its balance sheet.
Author: BitpushNews Mary Liu
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