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[US SEC approves Grayscale Bitcoin Mini Trust’s 19b-4 Form]
The U.S. Securities and Exchange Commission approved the Grayscale Bitcoin Mini Trust on Form 19b-4 on Friday. The trust, which has the ticker symbol “BTC” and is intended to be a “spin-off” of GBTC, still needs its S-1 registration statement to become effective before trading, according to its S-1 filing released in March.
The spokesperson said: "Grayscale is awaiting the effectiveness of the Form S-1 registration statement for BTC. The approval and effectiveness of the registration statement will allow BTC to operate as a US spot Bitcoin ETP alongside GBTC and others. The Grayscale team will share more information on the listing date of the Grayscale Bitcoin Mini Trust on NYSE Arca as soon as possible."
[ CryptoQuant founder: This round of Bitcoin bull market may last until mid-2025]
Ki Young Ju , founder and CEO of CryptoQuant, wrote on the X platform that this round of Bitcoin bull market cycle may last until mid-2025.
Ki Young Ju explained that "old whales" took profits during the bull market, and their selling brought new capital into the accumulation address, thereby increasing the actual price. The profit realization period in the past cycle was about 18 months, while this time it started 4 months ago.
[ Michael Saylor : Bitcoin will reach $13 million by 2045, and may reach $49 million in a bull market]
MicroStrategy founder Michael Saylor said in a speech at the Bitcoin Conference that as adoption grows, Bitcoin's characteristics as digital capital could push the price of each Bitcoin to over $13 million by 2045.
He said: "By 2045, the price of Bitcoin will reach $13 million per coin. In a bear market scenario, the price of Bitcoin may be $3 million. But in a bull market scenario, the price of Bitcoin may reach $49 million."
Saylor often points to MicroStrategy’s stock price as evidence of its success. So far this year, the company’s shares have risen 155% to around $1,750, reaching a high of $1,919 in March. “As of August 10th of this year, we will have been on this path for 48 months,” he said. “A lot of companies are trying to imitate chip maker Nvidia, but interestingly, it’s easier to imitate MicroStrategy. I’ve given you the playbook.”
[Robert Kennedy Jr.: If elected president, he will require the United States to establish a 4 million Bitcoin reserve, and transfers between US dollars and Bitcoin do not need to be reported or taxed]
US presidential candidate Robert Kennedy Jr said at a Bitcoin conference today that if he is elected president, he will sign an executive order requiring the United States to purchase 550 bitcoins per day to build a reserve of 4 million bitcoins.
In addition, he will sign an executive order directing the IRS to issue public guidance that all transactions between Bitcoin and U.S. dollars are non-reportable, tax-free transactions. He will also order the transfer of 200,000 Bitcoins to the U.S. Treasury to hold them as strategic assets.
Robert Kennedy Jr. said: "I don't represent the blue camp (Democratic Party), the red camp (Republican Party), or the purple camp (swing states), I represent the orange camp (the representative color of Bitcoin)."
[Fortune: Harris may share her stance on Bitcoin in the coming weeks. Her husband is said to be a "cryptocurrency enthusiast"]
According to Fortune, an unnamed crypto lobbyist said that US Vice President Kamala Harris may share Bitcoin stance in the coming weeks, and Harris' husband Douglas Emhoff is a "cryptocurrency enthusiast."
However, Gary DeWaal, a former senior attorney at the U.S. Commodity Futures Trading Commission (CFTC), said he does not expect Harris to comment on cryptocurrencies until after she is nominated on Aug. 7 and announces her running mate.
[Michigan Pension Fund bought $6.6 million in spot Bitcoin ETF in the second quarter]
According to the X account Trade T, the Michigan Pension Fund bought $6.6 million worth of Bitcoin spot ETF (ARKB) in the second quarter.
[Nomura Securities' crypto unit will launch a higher-yielding Ethereum ETF alternative in September]
After launching an ETF holding the Ethereum cryptocurrency, Nomura Holdings Inc.’s digital assets unit plans to offer a higher-yielding alternative that includes key components that U.S. issuers may have missed to help win regulatory approval, Bloomberg reported.
It is reported that Laser Digital, a subsidiary of Nomura Securities, plans to launch the fund in early September with the support of Galaxy Digital and cryptocurrency startup Dinero. The fund will be open to so-called qualified investors, such as hedge funds and private investment offices, rather than retail buyers. Laser Digital sees the fund as an alternative to Ethereum ETFs, providing institutional investors with the opportunity to access Ethereum's "arbitrage component."
Author: BitpushNews Mary Liu
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