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Crypto News
BitMine Stakes $5.6B in Ethereum Amid ETH Supply Crunch
Tom Lee’s BitMine Immersion continues its aggressive Ethereum accumulation strategy, while allocating a portion of its portfolio to staking. Earlier today, the largest Ether treasury company staked a massive 86,848 tokens, further bolstering its long-term ETH exposure.
While the institutional accumulation of ETH intensifies, the altcoin is facing a significant shortage on exchanges. With the exchange balance thinning and BitMine exploring staking, the future of Ethereum remains promising.
NYSE Builds Venue for 24/7 Trading of Tokenized Stocks, ETFs
The New York Stock Exchange is building a venue using blockchain technology to allow for trading tokenized stocks and exchange-traded funds around the clock.
NYSE, which is owned by Intercontinental Exchange Inc., plans to use its existing technology that matches buyers and sellers, combined with private blockchain networks, to facilitate the trading of tokenized securities in real-time, according to executives. The company is looking to launch the new digital trading platform later this year, pending regulatory approval.
Bermuda Plots 'Fully On-Chain National Economy' With Help From Coinbase and Circle
The island nation of Bermuda is hoping to bring its entire economy on-chain with the support of American crypto exchange Coinbase and USDC stablecoin issuer Circle.
Announced at the World Economic Forum Annual Meeting on Monday, Bermuda will lean on the crypto firms for digital asset infrastructure support for its government, local banks, insurers, and consumers. The goal, according to a press statement, is to create the “world’s first fully on-chain national economy.”
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Friday was $394.68 million. The total net asset value of Bitcoin spot ETFs is $124.56 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.53%.
The Bitcoin spot ETF with the highest net inflow on Jan. 16 was iShares Bitcoin Trust, with a net inflow of $15.09 million.