Bitcoin & Crypto Trading

🪙 Ether options trading volume on CME hits new peak in May According to The Block's Data Dashboard, the trading volume of options on ether futures on the CME reached $1.26 billion for May, with two days remaining in the month. This represents a significant increase compared to April's volume of $615.75 million and sets a record high for monthly trading volume, according to The Block's data. Source @Bitcoin_Blockchain_Trading

🪙 Ethereum futures hit record highs following spot ETF approval The approval of spot Ethereum ETFs added a layer of legitimacy to the crypto ecosystem, yet it didn’t ignite a massive price rally for ETH. Instead, the real action surged in the derivatives market. Futures open interest catapulted from $10.57 billion to an all-time high of $17.12 billion, fueled by speculative fervor and institutional involvement, notably on exchanges like Binance and CME. Source @Bitcoin_Blockchain_Trading

🪙 Ethereum on track for best month since February with 30% rise in May Data from Coinglass shows that Ethereum has experienced a remarkable surge in May, rising nearly 30% with a few days remaining. This marks Ethereum’s best monthly performance since February when it jumped 46%. This recovery is significant, especially considering the 17% drop it faced in April. A key factor in May’s rebound is the approval of the Ethereum ETF 19-b filings, which has bolstered investor confidence. Historical data from Coinglass indicates that May is typically Ethereum’s strongest month, with an average gain of 31%. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin ETF approval was the ‘crossing of the chasm’ for its asset class size, says Michael Saylor MicroStrategy Chairman Michael Saylor said the Bitcoin ETF approvals in January were not only important but cemented Bitcoin’s size as an asset class. “The single most important thing that happened in this epic was the approval of the spot Bitcoin ETFs,” said Saylor on the What Bitcoin Did podcast. “That was the crossing of the chasm which said that Bitcoin is not a multi-one hundred billion dollar asset class, bitcoin is a ten to 100 trillion dollar asset class.”. Source @Bitcoin_Blockchain_Trading

🥇 Global Bitcoin ETFs surpass 1 million BTC under management According to Bold.report data, all Bitcoin exchange-traded funds (ETFs) collectively hold over one million Bitcoin, a milestone first achieved on March 12. These ETFs are distributed across several countries, including the US, Sweden, Hong Kong, Germany, Switzerland, Canada, Brazil, and Australia. US-based ETFs lead the pack, with Grayscale GBTC holding roughly 292,000 BTC, followed by BlackRock IBIT with approximately 280,000 BTC, and Fidelity FBTC at 162,000 BTC. These three giants together hold approximately 734,000 BTC. Source @Bitcoin_Blockchain_Trading

💰 Robert Kiyosaki Advises Buying Bitcoin Before Price Explodes — Warns of Bonds Crashing Rich Dad Poor Dad author Robert Kiyosaki has warned investors about the bond market crashing, urging them to invest in “safer real assets,” like bitcoin, before their prices “explode.” He criticizes financial planners for promoting bonds as safe investments, predicting significant losses for investors when AAA bonds and commercial real estate crash. Meanwhile, Kiyosaki expects bitcoin’s price to reach $2.3 million. Source @Bitcoin_Blockchain_Trading

🇺🇸 Donald Trump declares US must not settle for ‘second place’ in crypto industry The United States must not settle for anything but top place in the cryptocurrency industry, according to former U.S. president Donald Trump. “I am very positive and open minded to cryptocurrency companies, and all things related to this new and burgeoning industry,” he claimed, before taking aim at the current president, Joe Biden, whom he is up against in the 2024 presidential race, with the US election day scheduled on November 4. Source @Bitcoin_Blockchain_Trading

💰 Spot bitcoin ETFs record net inflows for nine straight days U.S. spot bitcoin exchange-traded funds recorded a ninth consecutive day of net inflows, drawing in $107.91 million on Thursday. This is the longest streak of positive flows seen in spot bitcoin ETFs since mid-March, when they logged 10 straight days of inflows. BlackRock’s IBIT led the inflows with $89 million, followed by Fidelity’s FBTC that drew in $19 million. VanEck’s spot bitcoin fund also reported net inflows of $10 million, according to data from SoSoValue. Source @Bitcoin_Blockchain_Trading

🇺🇸 U.S. 💰 Bitcoin ETF Holdings Hit New High of More Than 850K Tokens U.S.-listed spot bitcoin exchange-traded funds now hold a record 850,707 BTC in custody, beating a previous high above 845,000 from early April. Among those funds, Grayscale’s GBTC remains the biggest holder of bitcoin with 289,300 tokens worth more than $20 billion, followed closely by BlackRock’s IBIT at 283,200 and $19.6 billion, according to data tracked by HODL15Capital. Source @Bitcoin_Blockchain_Trading

🇭🇰 Gate.io affiliate withdraws license application in Hong Kong, winds down local services Gate.HK, crypto exchange Gate.io’s Hong Kong entity, is winding down operations and has withdrawn its crypto trading platform license application in the region. The company said in a statement on Wednesday that it will carry out a “major overhaul” of its current platform and urged users to withdraw their assets by August 28. Gate.HK said that it will stop new user registration and deposit immediately, and plans to delist all tokens — including bitcoin, ether, bitcoin cash, litecoin, solana, polkadot, polygon, uniswap and USDT — on May 28. Source @Bitcoin_Blockchain_Trading