BlackRock Getting More Serious About Bitcoin, TRUMP Token Explodes

View in browser BlackRock Getting More Serious About Bitcoin, TRUMP Token Explodes The world's largest asset manager, BlackRock, is planning to launch a Bitcoin-related exchange-traded product (ETP) in Europe within the next few weeks, according to a source familiar with the matter.  The product will likely be registered in Switzerland. Recently, BlackRock set up a company in Zurich called iShares Digital Assets AG, which focuses on digital assets. BlackRock declined to comment on the topic. In January 2024, BlackRock became one of the first major financial firms to offer Bitcoin spot ETFs after receiving approval from the U.S. Securities and Exchange Commission (SEC).  The company's main Bitcoin ETF, IBIT, has grown rapidly, reaching $57.5 billion in net assets as of February 4, 2025. However, not all global investors can access U.S.-registered Bitcoin products.  This is why BlackRock is now looking for ways to offer investment opportunities outside the U.S. Price Action Total Mkt Cap: $3.3 Trillion | 24HR Liquidations: $208M | Sentiment: Neutral  Thanking our Newsletter sponsor: Credefi: the ultimate RWA gateway. Connecting crypto lenders with SME borrowers since 2021. Discover predictable yields on your idle crypto assets. Bitcoin Bitcoin's price went through a highly volatile weekend ride after US President Trump imposed tariffs on Canada, Mexico, and China. Its price slumped from $102,000 to $97,000 on Sunday but dumped hard to under $92,000 on Monday morning to chart a two-week low. However, the bulls managed to intercept the move at this point and propelled a massive rally that resulted in BTC adding over ten grand in 12 hours or so to just over $102,000. Although the volatility calmed in the following days, BTC still dropped to $96,000 on a couple of occasions and was stopped at $100,000 on Tuesday. The second decline to $96,000 came earlier this morning, but it didn't last long. The opposite happened: BTC started to recover some ground and is now closer to $99,000. Its market capitalization has climbed to just over $1.950 trillion on CG, while its dominance over the alts has calmed at 58%. Altcoins Ethereum was hit hard during the market-wide crash on Monday but has managed to recover most of the losses. The past 24 hours have brought another 3.5% increase, which has pushed the second-largest crypto to over $2,800. Cardano, Binance Coin, Tron, Chainlink, and Toncoin are also in the green from the larger-cap alts. In contrast, XRP has dropped by over 2% and sits well below $2.5. SUI, HBAR, SOL, and DOGE are also slightly in the red. LTC and TRUMP have taken the main stage, with 5-6% increases. As a result, the former now trades close to $110, while the latter has neared $20. The total crypto market cap has added around $50 billion and sits above $3.360 trillion on CG. Best Performers Berachain (BERA) +76% Bitget Token (BGB) +2.9% Sonic (S/FTM) +1% Worst Performers Ethena (ENA) -11.8% Raydium (RAY) -10% Celestia (TIA) -9% The Crypto News You Can't Miss Business intelligence firm MicroStrategy has announced a rebrand while reporting its fourth-quarter earnings this week. Read the full story. Significant ETH outflows from derivative exchanges indicate reduced short-term sell pressure as traders close positions or move to cold storage. Read the full story. Hayes warns that a BTC reserve would serve political interests rather than financial stability, with leaders exploiting price fluctuations.  Read the full story. AFL-CIO lawsuit claims Treasury breached privacy laws by giving Elon Musk's D.O.G.E access to confidential government data. Read the full story. Your Daily Crypto Did You Know Did you know that the ERC-721 token standard enables the creation of non-fungible tokens (NFTs) on Ethereum, powering the multi-billion dollar NFT market? CryptoPotato 39 Ludgate Hill, London United Kingdom You received this email because you signed up on our website or made purchase from us. Unsubscribe