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A Bitcoin user tried to consolidate his UTXOs, but made a very costly mistake.
Spot Bitcoin ETFs have recorded roughly $500 million in trading volume on the third day of trading, as of press time.
The names of the funds are ProShares Plus Bitcoin ETF, ProShares Ultra Bitcoin ETF, ProShares UltraShort Bitcoin ETF, Proshares Short Bitcoin ETF and ProShares ShortPlus Bitcoin ETF.One of those funds “seeks daily investment results, before fees and expenses, that correspond to two times (2x) of the daily performance of the Bloomberg Galaxy Bitcoin Index,” according to the prospectus materials.
Quick Take: An analyst suggested the approval of spot ETFs has made it easier for short trades by traditional market participants. Shorting of spot bitcoin ETFs could cause a subsequent increase in BTC supply in the spot market, and put downward pressure on the price of bitcoin.
If you expected spot ETFs to pump the price of bitcoin, chances are you’ll love what the halving is meant to do
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MoreWTI July crude oil futures closed down $4.70, a decline of 5.82%, at $76.05 per barrel.
Nokia has announced that it will expand its base station production capacity to ten times the current level, with the newly added capacity scheduled to be officially put into operation before the end of the third quarter.