ProShares launches its Bitcoin futures ETF today on the New York Stock Exchange, as the cryptocurrency market hits a new all-time high of $2,62 trillion in total capitalization. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
Cryptocurrencies and altcoins
📍The total cryptocurrency market reaches a new all-time high. The market capitalization of all cryptocurrencies reached an all-time high this Monday, surpassing a total value of 2,62 trillions of dollars, with Bitcoin as the leader of this growth. The main cryptocurrency in the industry exceeds a capitalization of 1,18 trillion dollars, dominating 45,4% of the entire market.
Source: CoinGecko
In the last year, the total market capitalization of cryptocurrencies has seen a 900% increase. By May 11, this market reached a record capitalization of $2,61 trillion; a value that has just been surpassed with BTC trading above $62.800 per unit. Other important cryptocurrencies in the market, such as ETH, MATIC, DOT, STX, ZEC and XLM exceed a for Growth 14% weekly. Several BTC analysts and advocates believe that with the recent approval of the first Bitcoin-related ETF in the United States, it is only a matter of time before the cryptocurrency and the market in general reach new all-time highs.
Bitcoin and Blockchain Adoption
📍ProShares Bitcoin Strategy ETF will begin trading today on the NYSE Arca stock exchange in New York. The first SEC-approved Bitcoin futures ETF in the United States will begin trading on the New York Stock Exchange today, Tuesday, October 19. ProShares, the investment firm issuing this financial instrument, Indian that the ETF will be ready for sale and trading on NYSE Arca starting today, under the name BITO.
As Bit2Me News reported yesterday, the firm's ETF is an investment fund that will track Bitcoin futures, rather than the price of the cryptocurrency directly. The ETF was approved by the SEC on Friday and was officially confirmed on Monday. ProShares published a release reporting that this is the first ETF linked to Bitcoin (BTC) in the country, marking a milestone for cryptocurrency and for the development of the crypto industry in the United States. Analysts consider the SEC approval a sign of maturity for the cryptocurrency industry and also a significant step in the future approval of a Bitcoin spot ETF.
📍Grayscale reaffirms its commitment to convert GBTC into a Bitcoin ETF in the United States. Amid the recent approval of the first Bitcoin futures ETF in the United States, Grayscale reaffirms its commitment to making its Bitcoin investment fund, the Grayscale Bitcoin Trust (GBTC), a Bitcoin ETF in the country. Grayscale's communications director, Jennifer Rosenthal, ratified the commitment of the largest fund manager in digital assets.
Rosenthal assured that the firm will take the appropriate steps to make GBTC an ETF in the country when the SEC has formally expressed its comfort with the underlying Bitcoin market.
📍Indonesia leads the ranking of countries with the highest search interest in cryptocurrencies. Coinformant, an Australian company focused on crypto education, notes that Indonesia is now the country with the highest search interest in cryptocurrencies in the world, followed by Chile, Argentina, Bulgaria and Finland. According to the Crypto Interest Index of the company, Indonesia had one of the largest increases in the number of searches and interactions with articles related to cryptocurrencies and technology blockchain. Currently, the firm estimates that the country has about 7,3 million cryptocurrency holders and owners.
Source: Coinformant
📍Remittances in El Salvador exceed 3 million dollars through Chivo Wallet. Anthony Pompliano, Bitcoin investor and evangelist, he highlighted that remittances through Bitcoin in El Salvador continue to grow impressively. Pompliano pointed out that through the Chivo Wallet, the Bitcoin wallet developed by the state, an average of 3 million dollars in remittances are being received per day; Therefore, if this figure is maintained, close to $1.100 billion in remittances in BTC would move each year in the Central American country.
On the other hand, the crypto investor also noted that, to date, there are a total of 813.509 Bitcoin addresses containing at least 1 full BTC.
Development and Technology
📍USD Coin (USDC), the second most important stablecoin in the industry, joins Hereda. Circle, the issuing company of the stablecoin USDC has integrated the stablecoin into the Hereda blockchain, being the first of its kind to reach the blockchain governed by companies and organizations such as Google and IBM.
Shayne Higdon, CEO of the HBAR Foundation, said that the integration of USDC to Hereda opens the doors to the development of decentralized finance (DeFi) applications and the new token economy in Hereda. USDC is already integrated into several blockchains, such as Ethereum, Algorand, Solana, Stellar, and TRON.
Rules and Regulations
📍New York Attorney General asks unregistered cryptocurrency companies to cease operations in the state. Letitia James, Attorney General of New York, ordered two unauthorized cryptocurrency companies to stop their activities and cease operations and services in the state, in order to protect and minimize risks to investors. In it release issued by the Prosecutor's Office recently, James also ordered three other cryptocurrency companies not registered in the state to submit reports on their operations and services to date, although he did not reveal the names of said companies.
The attorney general of New York recalled that companies, companies and suppliers that want to offer cryptocurrency services to citizens of the state must formally register with the Office of the Attorney General (OAG), in order to guarantee compliance with current laws and regulations. in matter.
📍Fitch Ratings, the international credit rating agency, warns about stablecoins. In his last report, published yesterday, Fitch Ratings pointed out that stable currencies can cause a negative impact on the stock markets, due to their accelerated growth, lack of clarity in reserves and lack of regulation. The international agency said that stablecoins will begin to play an important role in stock markets in the short term, but that their future impact will depend on how regulations on the matter evolve and the ability of issuing companies to guarantee their value and stability. through physical reserves.
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