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[As of the end of the first quarter, Point72 held $77.5 million worth of Fidelity Spot Bitcoin ETF]
Billionaire and “Wall Street hedge fund king” Steven Cohen ’s $34 billion hedge fund Point72 held $77.5 million worth of Fidelity Wise Origin Spot Bitcoin ETF (FBTC) at the end of the first quarter, according to a filing.
Previously, several other hedge funds have also disclosed purchasing shares of the spot Bitcoin ETF, including Paul Singer’s Elliott Capital and Izzy Englander’s Millennium Management , the latter of which is the largest institutional holder of the new fund, holding about $2 billion in the spot Bitcoin ETF as of March 31.
[ Ethereum's second-layer network ZkSync hints at an airdrop at the end of June]
Ethereum's second-layer network ZkSync hinted that it will conduct an airdrop at the end of June. It is reported that ZkSync posted on the X platform that it is expected to "hand over governance" at the end of June. The upcoming v24 upgrade will be the last upgrade before handing over network governance to the community. The "remaining missing parts" are expected to be in place by the end of June.
ZkSyn said: "Decentralization is a major, irreversible step that requires a high level of attention to detail at the intersection of complex technical and legal frameworks. In an industry often characterized by hype and short-term sacrifice, zkSync continues to strive to stand out - building foundational technology that will stand the test of time. zkSync is not just another L2. It is a catalyst for the emerging era of a verifiable internet that belongs to users (billions of people). The summer of ZK is here."
[ Vitalik Buterin : In the near and medium term, we will focus on improving the permissionlessness and decentralization of the Ethereum network]
Ethereum founder Vitalik Buterin published a new article on X, saying that the Ethereum network will focus on improving its permissionless and decentralized features in the near and medium term, focusing on concepts such as stateless nodes, MEV mitigation, and single-slot finalization, making Ethereum take a further step in the direction of decentralization. In the future, efforts will need to be made in light client technology and decentralized cross-L2 bridges to ensure that Ethereum L1 becomes a powerful foundation layer for decentralization and security.
Vitalik Buterin said there are an almost infinite number of blockchain projects targeting the niche of “we can be super fast, we’ll think about decentralization later.” I don’t think Ethereum should be one of those projects. Ethereum L1 can and certainly should be a strong base layer for layer 2 projects that take a hyperscale approach, using Ethereum as a backbone for decentralization and security. Even a layer 2-centric approach requires that layer 1 itself be scalable enough to handle large volumes of operations. But we should deeply respect the features that make Ethereum unique, and continue to work to maintain and improve those features as Ethereum scales.
[ Syncracy Capital co-founder: SOL may reach $200 by the end of the month]
Daniel Choung, co-founder of Syncracy Capital, said on Platform X that Solana’s native token SOL “is still the best deal of this cycle” and could reach $200 by the end of May.
Data shows that SOL hit $170 on Friday, its highest price in more than a month, before falling slightly to $166 recently. It has risen nearly 7% in the past 24 hours and is currently up more than 40% from the local bottom of the cryptocurrency market in early May.
SOL reached an all-time high of $260 at the peak of the last bull cycle in November 2021. Daniel Choung said he is increasingly "confident" that SOL can revisit the $200 level by the end of this month and reach new all-time highs "soon."
[ Kraken is weighing whether to cancel support for USDT under new EU regulations]
According to Bloomberg, Kraken is actively weighing a series of plans that could include removing support for USDT from its exchange under the European Union’s new digital asset regulatory framework.
It is reported that this new system will officially take effect in the EU in July. Tether's stablecoin USDT is expected to be affected by the upcoming EU regulation MiCA. Although the guidelines have not yet been finalized by the European Banking Authority, the stablecoin industry has already felt the potential impact, and Tether said it plans to continue dialogue with regulators.
[Analyst: The inflow of funds into the spot Bitcoin ETF in May has made up for the net outflow in April]
Bloomberg senior ETF analyst Eric Balchunas noted that inflows into the spot Bitcoin ETF in May have made up for the negative outflows in April, bringing it back to around $12.3 billion in net value since its launch.
Balchunas claimed that the past two months show why traders should not get “emotional” about inflows and outflows because it is “part of the ETF process,” and he believes that spot Bitcoin ETF flows will show net positive returns in the long term.
On May 14, 15, and 16, ETF inflows reached $151.4 million, $303 million, and $257.3 million, respectively.
Author: BitpushNews Mary Liu
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