Bitcoin is the undisputed king of crypto, and its movement is often mimicked by the rest of the market. Its pump pulls the whole market with it, and when it dumps, it also drags the majority of altcoins. This is the reason why Bitcoin (BTC) is the most closely monitored asset, and we have three pieces of news about the king of all digital assets.
BlackRock Names Coinbase as Surveillance-Sharing Partner in Bitcoin ETF Refiling
BlackRock, one of the largest asset managers in the world, refiled its spot Bitcoin ETF (exchange-traded fund) and named Coinbase as its surveillance-sharing partner. This amendment is in response to the US Securities and Exchange Commission’s (SEC) comment that the original spot BTC filing was insufficient.
The comment of the SEC about several filings lacking the name of the chosen surveillance-sharing partner also prompted other applicants to update their proposals. Fidelity Investments, another asset management giant, has updated its spot BTC ETF application to include Coinbase as its surveillance-sharing partner. Other applicants like Invesco, VanEck, and Wisdom Tree also updated their proposal to reflect the names of their surveillance-sharing partners.
These spot BTC ETF applications are probably the most watched news in the crypto industry right now. Spot BTC ETFs allow investors to hold an exchange-traded asset that has Bitcoin as its underlying value. It is for consumers who wish to have some exposure to Bitcoin but cannot be bothered with crypto wallets and securing private keys. This product can also be traded on regulated stock exchanges like the NASDAQ.
The price of Bitcoin has surged to more than $30,000 following several spot ETF applications. Coinbase (COIN) stocks have also increased in value, presumably because of its pending roles as a surveillance-sharing partner.
How Ordinals Turn BTC into a Musical Instrument
Bitcoin was created as a store of value and as an instrument for financial inclusiveness, but can it also be an instrument for creating music? By using Ordinals, a protocol that enables users to create unique digital assets directly on the Bitcoin network, an anonymous creator named Ryoshi was able to embed musical data into sats, the smallest unit of Bitcoin. The result is a program that can generate a piece of unique music or song by simply typing a word or phrase into the musical engine.
By using the native features of Bitcoin transactions, Ordinals allow users to inscribe any kind of data into sats, such as images, text, or games. Ordinals are different from other NFT platforms in that they are fully on-chain, meaning that all the data is stored on the Bitcoin blockchain and not on external servers or platforms.
Bitcoin ATM operator Launched in NASDAQ.
Bitcoin Depot, a Bitcoin ATM operator, launched on NASDAQ today. It is the first time a US-based BTC ATM operator has gone public. Its ticker will be BTM.
Bitcoin Depot CEO Brandon Mintz said,” Bitcoin Depot is well positioned with the largest market share in North America, and the additional capital from this transaction will help support our numerous growth opportunities while advancing our mission to safely [and] securely bring Bitcoin to the masses.”
A Bitcoin ATM works like a traditional ATM but allows users to buy and sell cryptocurrencies. This allows users to buy crypto without signing up with an exchange. Users just need to download an app and provide a phone number before they can use the service.
As for regulations, the company is regulated by the Financial Crimes and Enforcement Network (FinCEN).
BTM share currently trades at $3.61
Image from Pixabay
