https://arab.news/rwmf2
- While the price of Bitcoin has surged 53% over the past month, hash power that secures the network has increased by 110%
RIYADH: While the cryptocurrency continues to decline, Bitcoin hash rate has jumped to a higher level than last month.
Bitcoin, the leading cryptocurrency, traded lower on Sunday, falling by 1.19 percent to $48,534.81 at 5:51 p.m. Riyadh time while Ether, the second most-traded cryptocurrency, traded at $3,196.33, down by 1.55 percent, according to data from Coindesk.
The 30-day stats show that the Bitcoin hash rate has jumped much higher since the Bitcoin price surged over the past month. While the price of Bitcoin has surged 53 percent over the past month, the hash power that secures the network has increased by 110 percent.
Meanwhile, the mandatory filing with the Securities and Exchange Commission (SEC) shows that Blackrock, the world's largest asset manager with $9 trillion in assets, has acquired significant stakes in two miners, 6.71 percent in Marathon Digital Holdings and 6.61 percent in Riot Blockchain.
The statement comes after Fidelity Group recently revealed that it has acquired similarly large stakes in bitcoin miners. The PA-based Vanguard Group of Valley Forge is also currently the largest shareholder in Marathon Digital and Riot Blockchain with BlackRock in the lead after the latest deposit was revealed, Forbes reported.
European derivatives exchange Eurex, owned by Deutsche Boerse, has said it will launch bitcoin to establish Europe’s first regulated bitcoin-linked derivatives market, Eurex reports.
The contracts will be launched on Sept. 13 and will be based on the BTCetc Bitcoin Exchange listed on the Frankfurt Crypto Exchange with the symbol BTCE. According to the company, BTCE has been one of the most-traded contracts on Xetra since its launch in June 2020, CoinDesk reported
The derivative will also allow access to the bitcoin price in a centralized and regulated liquidation trading environment. “There is significant demand from institutional investors to gain bitcoin exposure in a secure and regulated environment,” said Randolf Roth, a member of Eurex’s executive board.
The regulatory filing said the $164 million Neuberger Berman Commodity Fund may invest up to 5 percent of bitcoin assets in bitcoin futures and ETFs.
The fund received initial approval. While some ETFs are now whitelisted for the fund, they are still unable to invest directly in digital assets, likely due to regulatory concerns. It is also seriously looking forward to crypto investments if it is not already involved in its green-lighted products, CoinDesk reported
AdvisorShares, an investment management firm that offers a range of themed ETFs, has also submitted an application to the SEC for a Bitcoin Futures Exchange Traded Fund (ETF). The AdvisorShares Managed Bitcoin ETF will invest “all or most of its assets in exchange-traded bitcoin futures” and collateral, according to the filing.
About 85,000 merchants in Switzerland can now offer customers the option to pay with cryptocurrency after a collaboration between Bitcoin Suisse and Worldline as the two companies officially launched the new service after a pilot program.
“This move proves once again that Switzerland is a pioneer in collaborative innovation and a leader in the crypto and blockchain industry,” Bitcoin News quoted Mark Schlub, CEO of Worldline Switzerland, as saying.