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Bitcoin ETF inflows highest in a month as Bitcoin hovers near $63K

Investor interest in Bitcoin continues to surge as the cryptocurrency nears the $63,000 mark, fueled by substantial inflows into Bitcoin Exchange-Traded Funds (ETFs).

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Investor interest in Bitcoin continues to surge as the cryptocurrency nears the $63,000 mark, fueled by substantial inflows into Bitcoin Exchange-Traded Funds (ETFs).

The latest data reveals a significant uptick in investments flowing into Bitcoin ETFs, reflecting growing confidence among institutional and retail investors in the digital asset. This influx of capital underscores Bitcoin’s status as a preferred choice for investors seeking exposure to the cryptocurrency market.

Bitcoin’s ascent towards the $63,000 threshold comes amidst favorable market conditions and increasing mainstream adoption. The cryptocurrency’s resilience and potential as a store of value continue to attract attention, driving heightened trading activity and investment inflows into related financial products such as ETFs.

The surge in Bitcoin ETF inflows highlights a broader trend towards institutional adoption and acceptance of digital assets within traditional financial frameworks. This trend is bolstered by regulatory developments that are gradually facilitating easier access to cryptocurrency investments for institutional investors.

As Bitcoin’s price nears significant milestones, market observers anticipate continued volatility and heightened trading volumes. The cryptocurrency’s performance in ETF markets serves as a barometer for broader investor sentiment and market dynamics within the digital asset space.

The ongoing influx of capital into Bitcoin ETFs underscores a growing recognition of Bitcoin’s potential to serve as a diversification tool and hedge against inflationary pressures. This trend positions Bitcoin ETFs as pivotal vehicles for investors seeking exposure to the burgeoning cryptocurrency market.

Looking ahead, industry analysts and investors remain optimistic about Bitcoin’s trajectory, buoyed by increasing institutional participation and evolving regulatory clarity. The convergence of these factors is expected to further propel Bitcoin’s ascent and solidify its role in global financial markets.

Stay tuned as Bitcoin continues to navigate towards higher price thresholds, with ETF inflows serving as a pivotal indicator of investor sentiment and market momentum in the evolving digital asset landscape.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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