Bitcoin News Daily Official TheBitTimes.com

BlackRock’s dominance of the spot Ethereum (ETH) exchange-traded fund (ETF) was on display on September 4, when the world’s largest investment firm dwarfed competitors in the market. In this case, BlackRock recorded $148.8 million in net Ethereum ETF inflows, making it the sole major buyer and far outpacing rivals, according to data retrieved by Finbold from Coinglass .  In contrast, several competitors faced heavy redemptions. Particularly, Fidelity led the sell-off with $216.7 million in outflows, followed by Bitwise with $45.7 million.  Grayscale’s ETHE shed $26.4 million, while its separate Ethereum Trust saw another $6.4 million in redemptions.  On the other hand, VanEck, Franklin, and Invesco also posted smaller losses of $17.2 million, $1.6 million, and $2.1 million, respectively. Overall, the market registered $167.3 million in net withdrawals across all issuers despite BlackRock’s surge. Spot ETH ETF net inflows. Source: Coinglass Ethereu...

Tether, Circle and other stablecoin firms held $80 billion worth of short-term U.S. government debt as of May 2022, more than owned by Warren Buffett’s Berkshire Hathaway. Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan, The Financial Times reported on Aug. 20. Tether, Circle and other stablecoin firms accounted for 2% of the total market for the U.S. Treasury bills, holding a bigger share of T-bills than totally owned by Warren Buffett’s investment giant Berkshire Hathaway. Stablecoin issuers have also outperformed offshore money market funds (MMF) and prime market MMFs in terms of their Treasury-bill investment proportion, according to the data. U.S. Treasury bill investor composition. Source: ...