Spot Bitcoin exchange-traded funds (ETFs) in the United States acquired the equivalent of around two months worth of the cryptocurrencys mining supply in the first week of June.

With inflows of approximately $1.83 billion, the 11 ETFs bought 25,729 Bitcoin (BTC)in the trading week between June 3 and 7 around eight times more than the 3,150 new BTC mined over the same time, according to data from HODL15Capital.

The amount of Bitcoin acquired in the week alone was almost as much as the entire of May, 29,592 BTC, per HODL15Capitals count, and is the biggest week of buying since mid-March when Bitcoin hit its current all-time high of $73,679.

The 11 ETFs have seen $15.69 billion in net inflows since their January launch, including the $17.93 billion in net outflows from Grayscales fund, with total assets under management (AUM) of around $61 billion.

Bitcoin proponents have long touted cryptocurrency as digital gold due to its built-in scarcity mechanism, which sees only 21 million BTC ever beingissued.

Related: Bitcoin ETF flows will send BTC price into parabolic run, traders say

ETF Store president Nate Geraci noted in a June 9 X post that Bitcoin ETF AUM is around 60% that of the countrys gold ETFs, despite gold ETFs being around for 20 years and Bitcoin ETFs for only five months.

Bitcoin touched a highof $71,093on June 5amid the surge of inflows to the U.S. Bitcoin ETFs, the first time the asset has been above $71,000 since May 21, according to Cointelegraph Markets Pro.

The cryptocurrency has struggled to pass its current high, as its price is more heavily influenced by macroeconomic factors and geopolitical events, crypto exchange co-founder Radar Bear told Cointelegraph on June 7.

Magazine: Bitcoin ETFs make Coinbase a honeypot for hackers and governments Trezor CEO

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Bitcoin ETFs sucked up 2 months of BTC mining supply in first week of June - Cointelegraph

Oleksandr Shatyrov

After months of anticipation, it has finally arrived. The Ethereum USD (ETH-USD) ETF has been approved by the SEC. Following Bitcoin USD's (BTC-USD) turn on January 10th, it's now ETH's moment. In this article, we'll draw inspiration from the BTC ETF approval episode to explore potential outcomes for ETH.

First, we'll examine BTC's price action around and after its ETF approval date. Then, we'll analyze whether ETH's current situation mirrors BTC's situation at the time of its approval on January 10th, highlighting both similarities and differences. These analyses, combined with our own interpretations, will guide you to our recommendations on how to play what comes after the ETH ETF approval event.

The BTC path to ETF approval has been long and full of obstacles. Yet, each hurdle has been overcome one by one, impacting thus BTC's price action.

According to Reuters, the 29th of August 2023:

The U.S. District of Columbia Court of Appeals on Tuesday ruled that the Securities and Exchange Commission (SEC) was wrong to reject an application from crypto asset manager Grayscale Investments to list an exchange-traded fund that tracks the price of bitcoin.

Right after this news, the BTC reacted positively and printed a +6% intraday performance.

Bloomberg

However, despite this positive news, BTC performed poorly over the following two months.

We identified several reasons for this:

On October 13, 2023, the SEC decided not to appeal the court decision. This move surprised many investors, as it signalled the SEC's acknowledgment of its error and paved the way for a review of BTC ETF products that investors had been closely monitoring for years. Following this decision, BTC experienced a strong rally, gaining 70% from October 13 to January 9.

Bloomberg

On January 11th, after a decade-long battle, the SEC finally approved 10 ETF proposals from issuers like BlackRock, ARKK, VanEck, and Fidelity.

Immediately after this, the ETF approval was seen as a "sell the news event." for two weeks. However, BTC then rallied strongly, reaching a new all-time high of $73 664 on March 11th.

From January 11th to March 11th, BTC surged another 60%.

Bloomberg

This rally has been supported by strong ETF inflows.

However, this demand has been decreasing since the 18th of March.

Bloomberg

The decrease in demand has been accompanied by substantial outflows from the Grayscale Bitcoin Trust ETF (BTC) (GBTC), which held nearly 600,000 BTC prior to the ETF approval. This accounted for just over 3% of the total BTC supply. These outflows were primarily due to higher fees, with GBTC fees at 1.5% compared to the new ETF at 0.30%.

The red zone highlighted shows consistent and strong outflows matching with a period of lower inflows in BTC's ETF, thus justifying poor BTC performance from March to April.

You can have a detailed view of the outflows on the following graph:

Bloomberg

However, the outflows have now stabilized following Grayscale's decision to lower its fees. Currently, GBTC holds close to 290,000 BTC.

Since the 14th of March, the BTC has been rangy and has tested successfully several times its key 60k level.

Bloomberg

BTC performed strongly before the ETF approval. However, its approval led to a "sell the news" event lasting two weeks. Despite this, strong inflows have supported the asset price, although these inflows have been offset by GBTC outflows. After reaching its all-time high, BTC has been trading within a range for two months.

Will we see a similar price action for ETH? In our view, it's likely.

However, there are several key differences to consider. First, ETH ETF approval was unpopular. Consensus views shifted dramatically, with the probability of approval rising from 25% to 70% just four days before the decision.

Polymarket

Why did the SEC change its stance? In our view, primarily for political reasons. The U.S. government is beginning to recognize the growing significance of crypto among Americans. In an election year, losing valuable votes is not an option.

That's why on the 20th of May, according to CoinDesk:

The U.S. Securities and Exchange Commission (SEC) asked aspiring ether exchange-traded fund exchanges to update 19b-4 filings ahead of a key deadline this week.

Due to this surprising shift in market expectations, ETH's price sharply rallied, gaining 22% in two days. BTC also saw strong performance before its approval, but it was a more gradual rise as it had more time to be anticipated. We wouldn't be surprised to see ETH rally even more sharply than BTC, driven by investors eager to "catch the train" they might have missed with BTC.

Bloomberg

Several additional factors could influence ETH price actions.

ETH features a staking mechanism, with many participants willing to stake their ETH for clients.

ETH ETF Issuers (Bloomberg)

However, the SEC has required the removal of the staking feature from ETF applications. The ability to earn a yield on an asset is particularly appealing, so the absence of staking in these ETFs makes them less attractive than simply holding and staking ETH. Nevertheless, we still view the ETF as an interesting product for both institutional and retail investors, ensuring robust demand.

Another key consideration is the uncertainty surrounding the ETF launch date. The SEC, issuers, and exchanges have spent months negotiating the 19b-4 and S-1 documents for BTC, a process that has just begun for ETH. This could take weeks or even months to finalize.

Additionally, ETH's market cap is three times smaller than BTC's, making it more volatile and easier to move in either direction. We see this as a positive, especially considering that major players like BlackRock and JP Morgan have a positive outlook on ETH. Grayscale Ethereum Trust (OTCQX:ETHE) holds almost 2.5% of the ETH float, which could create short-to-medium-term selling pressure similar to what we saw with GBTC. However, we expect Grayscale to avoid past mistakes and implement lower fees, reducing outflow pressure.

Post-approval, there might be a "sell the news" event, similar to what happened with BTC.

When the BTC spot ETF was approved in January, it was unprecedented. BTC steadily increased before the approval, surged upon approval, and then dropped about 22% before sharply rising to new highs. We expect a similar trend for ETH, but we advise against trading on this expectation. It's wiser to maintain exposure to ETH, as the outcome might differ this time. Those who sold BTC at the time of approval missed out if they didn't repurchase at lower prices, and there's a risk of not catching those lower prices.

We recommend buying dips. The "sell the news" event and potential Grayscale outflows should they occur, could present attractive buying opportunities.

We see opportunities to accumulate after a retrace between $2900 and $3200 that has been historically strong support and resistance levels.

Bloomberg

Finally, as with BTC, ETH might experience some weakness after surpassing its all-time high. We suggest progressively reducing your exposure to ETH once it surpasses its ATH of $4,666.

We have the conviction that the ETH ETF approval is a significant milestone. It represents in our view a strong opportunity. Analyzing BTC's price action reveals an initial strong performance, a "sell the news" dip, and a subsequent rally. We expect a similar pattern for ETH with some specificities related to its market cap, ETF listing dates, stacking features, and Grayscale potential outflow impact.

Our strategy is to be long on ETH before the ETF approval and listing, anticipating strong pre-listing performance. Post-listing, we expect a "sell the news" event but advise maintaining exposure to ETH to avoid missing out on potential gains. We recommend buying dips, especially between $2900 and $3200, and gradually reducing exposure once ETH surpasses its all-time high of $4,666.

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Ethereum ETF Approval: What Bitcoin's History Teaches Us (Cryptocurrency:ETH-USD) - Seeking Alpha

After ChatGPT and Generative AI,quantum computingmay be the field of research to bring about the next technological revolution in the 21st century. Quantum computing has the potential to solve complex problems that normally slow down classical computers, such as optimization, cryptography, machine learning, and simulation. This has led to this list of quantum computing stocks for January 2024.

While this kind of novel technology may still be in its infancy, investors desiring to invest in the up-and-coming technology should consider one of the following three quantum computing stocks with Strong Buy ratings from Wall Street analysts.

Source: Shutterstock

Rigetti Computing(NASDAQ:RGTI) is a pure-play quantum computing business thatisvertically integrated. This simply means the company is involved in both designing and manufacturing its multi-chip quantum processors. Rigetti uses superconducting circuits as qubits, which are fabricated on silicon chips and operate at near-zero temperatures.In order to get deliver its quantum computing capabilities to clients, Rigetti leverages cloud service networks, while also providing quantum software development tools as well as quantum hardware design and manufacturing.

Rigetti Computings financials show robust growth potential, as the companygenerated $13 millionin revenue in 2022, up 46% year-over-year. The quantum computing firms 2023 financials appear on the way to surpass 2022s numbers.RGTIs shares proved volatile in 2023. At one point, RGTI returned more than 200%, but the stock ended the year at only a 35% return. This makes it one of those quantum computing stocks for January 2024.

Wall Street analysts have given the stock a resounding Strong Buy rating, and while shares are only trading at above $1, interested investors should take the chance to buy shares now.

Source: Amin Van / Shutterstock.com

D-Wave Quantum(NYSE:QBTS) is the oldest and most established quantum computing company in the market. The company is the pioneer ofquantum annealing, a computing technique used to find the optimal solution for a given problem. D-Wave Quantum has built several quantum annealers withmore than 5,000 qubits, which allows greater potential for commercial applications.

D-Wave Quantum offers its quantum annealers and software tools through its own cloud platform, called Leap. QBTS also offers a suite of developer tools, called Ocean, which helps users design, develop and deploy quantum applications. The quantum computing company has a diverse customer base, includinggovernment agenciesas well as corporations.

Wall Streetanalysts expectD-Wave to generate more than $10 million in revenue at the end of 2023, which would represent a 47% YoY increase from the prior period. However, shares are down 32% over the past 12 months, so this could be a chance for investors to buy this stock at a lower price, as D-Wave Quantum has a strong competitive advantage in the quantum computing market.

Source: Sergio Photone / Shutterstock.com

Nvidia(NASDAQ:NVDA) was one of the best-performing stocks of 2023, with a staggering gain of more than 240% last year. The chip stock is already off to a great start in 2024, so much so that it could be another record year for Nvidias share price. Shares, thus far, have risen to an all-time high of $563.82/share. The chipmaker has been riding high on the booming demand for its AI solutions, which power some of the most advanced and popular applications in the world, such asOpenAIsChatGPT and other generative AI platforms.

However, Nvidia is also one of the key players in quantum computing, with itsTensor CoreGPUs used to power some of the most advanced quantum simulators and algorithms. Furthermore, Nvidia has developed its own quantum software development kit and platform calledcuQuantum, which leverages its CUDA programming model and libraries to enable developers to create and run quantum applications on Nvidia GPUs.

Wall Street remains bullish on Nvidia shares, rating the chipmakers stock as a Strong Buy. All in all, its one of those quantum computing stocks for January 2024.

On the date of publication, Tyrik Torresdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.

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Wall Street Favorites: 3 Quantum Computing Stocks with Strong Buy Ratings in January 2024 - InvestorPlace

The price fluctuations in the broader crypto market (Binance) have continued today, January 31, as the bears retain dominance. Subsequently, several assets remained in the red, with XRP following the current trend to drop some of its gains.

Amid the low price pattern, the leading crypto exchange, Binance, shuffled over 120 million XRP tokens.The company completed its movement in two different transactions within a fifteen-minute timeframe.

Data from the on-chain whale tracking site Whale Alert revealed that Binance moved more than 120 million XRP within its accounts.The two separate transactions are worth over $61.8 million and took place at XRPs price below $0.5100.

According to Whale Alert, the first transaction involved the transfer of 100 million XRP coins.

The tokens are worth over $51.28 million based on the crypto market prices.

The transaction occurred on January 31 at 07:25 UTC, and both the sending and receiving.According to reports, the sending wallet is a new account Binance activated last month.

The records of the address indicated that Binance had moved about 300 million into the new account as of December 26, 2023.

Also, the exchange has been using the wallet to transfer millions of XRP coins to different Binance wallets. For instance, Binance moved 139 million XRP from the new account within an hour of the 300 million XRP receipt. Currently, the address now has about 64 million XRP in its holding.

Notably, the receiving address of the 100 million XRP is a known Binance wallet. Usually, the exchange uses the address to complete several small XRP transfers to other entities like banks, Upbit, Coinbase, and Bithumb. Such transactions are part of the exchanges withdrawal redemptions.

The second transaction, as noted by Whale Alert, came in less than 15 minutes after the first. It involved the transfer of 20.62 million XRP worth over $10.57 million.

Data from Bithomp also revealed that the receipt account is Binance-related.

The entire motive for the XRP has attracted the attention of crypto enthusiasts. However, given that all the wallets involved in the transactions are associated with Binance, the movements could reflect in-house transfers.

They could be part of the exchanges account balancing exercises or redemption of withdrawal requests.

So, theres no reason to panic for now, given that Binance maintains periodic transfers of large volumes of XRP that dont affect the tokens price. For instance, on January 16, the exchange moved more than 94 million XRP coins to an anonymous wallet.

Also, over 300 million XRP have changed hands between Binance accounts and other whale wallets since last December. None of these movements of coins have pulled XRP below the $0.5 level.

Notably, as of 07:40 AM EST on January 31, XRP hovers around $0.5063, indicating a 4.63% decline over the past 24 hours.

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Binance Moves More Than 120 Million XRP Amid The Token's Price Drop - The Tech Report

Binances U.S.-licensed exchange is being booted from two states while founder Changpeng CZ Zhao isnt being booted from his U.S. confinement.

On January 25, theWall Street Journalreported that the Alaska Division of Banking and Securities had decided not to renew the operating license ofBinance.US. At the other end of the country, Floridas Office of Financial Regulation reportedly suspended Binance.USs money transmitter license last November, a week after Binance and CZ reached their$4.3 billion settlement of criminal charges with the Department of Justice.

Binance.US has been desperately trying to keep its lights on following a series of body blows, including CZs settlement,civil chargesof violating securities laws filed by the U.S. Securities and Exchange Commission (SEC),massive layoffs, andU.S. traditional finance entities retreating from having anything to do with the notorious exchange.

Binance.US has been negotiating the survival of its other state-level money transmitter licenses, reportedly reaching an accommodation with regulators in Arkansas, Illinois, and South Dakota. Those states reportedly forced Binance.US to guarantee CZs inability to influence future business decisions. A Binance spokesperson told the WSJ the company was in active dialogue with officials in other states to retain a semblance of viability.

The SECs civil charges, plus aseparate suitfiled (and since settled) by the U.S. Commodity Futures Trading Commission (CFTC), exposed the fact that CZ was in complete control of the money U.S. customers deposited on Binance.US and had beentransferring the cash outside the U.S. to accounts under his control.

Customers understandably panicked, withdrawing assets and closing accounts, leaving the exchange a shell of its former self. The sites 24-hour trading volume was barely $13 million on January 26, $2.124 billion less than the rivalCoinbase(NASDAQ: COIN) exchange.

While Binance.US may be intent on going down swinging, its anyones guess how much longer it can carry on as a going concern, given that its legal bills likely exceed its revenue. Binance.US lawyerswere in court last week trying to argue that the SEC case should be dismissed because its just not pretty when people beat dead horses.

The two parties showed little sign of agreement in their most recentjoint status reportto the court on January 25. The SEC claims Binance.US parent companies (collectively referred to as BAM) continue to withhold documents and communications the SEC believes are important aspects of their complaint. BAM replied that while it plans to make one final production of documents to the SEC this week, it does not believe that there are any gaps in its productions.

The SEC also believes it has the right to conduct more depositions with Binance staff, while Binance (surprise!) disagrees. The parties were similarly split on the scope of the SECs investigation of Binances software. The parties next status update is due February 15.

Judge rejects CZs pledge of billions for release

Meanwhile, we learned last week the lengths to which CZ was prepared to go to temporarily free himself from his DoJ-imposed confinement in Washington State. CZs sentencing on his criminal charges is scheduled for February 23.

CZ previously requested the right to temporarilyreturn to his partner and children in Dubaiahead of his sentencing, but these appealswere rejected by U.S. District Court Judge Richard Jones. The judge agreed with prosecutors that CZs lack of formal ties to the U.S., his immense wealth, and the likelihood that he could serve significant time in prison made him a significant flight risk.

Court documents released last week show that CZs late-December request for release was based on his desire to return to the United Arab Emirates (UAE), where an unidentified individual he claims to be close to was scheduled for hospitalization and surgery. CZ even submitted medical records in case Judge Jones remembered CZs documented proclivity for lying his ass off when it served his interests.

CZ, who remains in the U.S. on a $175 million release bond, wanted to travel on January 4 and stay in Abu Dhabi for up to four weeks. CZ reportedly offered to pledge his entire equity in Binance.USvalued at $4.5 billion based on theexchanges last funding round two years ago but certainly worth a fraction of that valuation these daysas a security that he would return for sentencing in February.

The DoJ wasnt amenable to CZs request, prompting a hearing on December 29 to discuss the matter before Jones. The judge was evidently unmoved by CZs promises and pledges and denied the request.

BSC security incidents hit all-time high last year

Binances in-house BNB Smart Chain (BSC) has long held the dubious honor of being thetop target of hackers and other malicious actors, but a new in-house report claims that the situation dramatically improved in 2023.

The report, which contains crucial contributions by AvengerDAO members Ancilia, Certik, Hashdit, and Salus Security, claims that the total financial value lost on BSC fell from a peak of $1.12 billion in 2022 to just $161.2 million in 2023.

This 85% decline was enough to lower BSC from first to fourth on the chart of most vulnerable chains.Ethereumclaimed that title with over $1 billion lost last year, nearly twice as much as was lost in 2022.Tronsuffered a major spike in attacks last year, with losses topping $400 million, whileFantom also reported a major drain of $171.5 million.

However, the number of security incidents on BSC rose by 44% to an all-time high of 414 over the same period, suggesting that much of the reduction in financial losses has to do with the decline in value tokens endured throughout 2023.

The report acknowledges this factor (although its somewhat buried towards the end) by noting the total value locked across decentralized finance (DeFi) projects was down 85% in 2023. Regardless, the report insists that other factors also play important roles in influencing the losses within the ecosystem.

BSCs total funds lost would have been more than one-third higher had centralized exchangesincluding Binanceand other entities not acted to freeze around $55 million in stolen funds last year, allowing them to be recovered.

This willingness to act is a far cry from Binances historic approach to stolen assets, including its 2020refusal to freeze certain accountsthat accepted coins stolen from an Australian man, despite admitting that it was highly likely the paths leading to this account are malicious. But then again, those stolen tokens werent stolen from a Binance-linked entity, so

In terms of types of BSC attacks, most of 2023s value-lost reduction was in hacks, which fell from nearly $871 million in 2022 to $73.2 million last year despite the number of hacks nearly doubling over the same period.

DeFi remains the most popular target for attackers, with the number of DeFi attacks rising by two-thirds to 352 in 2023. The number of outright scams was up 14% last year, while the value lost to these scams fell by 54% to $87.9 million. Rugpulls claimed the biggest slice of attacks at 35.2%, with Ponzi schemes second with 22.5% and hot wallet compromises third with 17.1%.

FollowCoinGeeks Crypto Crime Cartelseries, which delves into the stream of groupsfromBitMEXtoBinance,Bitcoin.com,Blockstream,ShapeShift,Coinbase,Ripple, Ethereum, FTXandTetherwho have co-opted the digital asset revolution and turned the industry into a minefield for nave (and even experienced) players in the market.

New to blockchain? Check out CoinGeeks Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

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Binance.US booted from 2 US states, judge rejects Changpeng Zhao's latest bid for release - CoinGeek

Friday, January 26, 2024 - 1:30pm

Improve your mindset while learning various breathing techniques and mindfulness strategies.

Space is limited; please RSVP with Paola Perez at (786) 205-5427 or email atpperez@cutlerbay-fl.gov.

*Active Adults series of events are designed forTown residents aged 60 and over.

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Active Adults | Meditation - Town of Cutler Bay Florida (.gov)

An Expert Shares How And Why You Should Go Vegan This January  VOGUE PHILIPPINES

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An Expert Shares How And Why You Should Go Vegan This January - VOGUE PHILIPPINES

The start of a new year is the perfect time for setting goals and for many, getting fit comes top of the list. What better way to beat the January blues than a good workout!

As we kick off 2024 many are looking to step up their health and fitness game. Whether you are a complete novice or a training enthusiast, choosing the right place to train is important. Recommendations can go a long way when you are searching for the right place where you can feel welcome, no matter what your fitness level.

Joining the gym doesn't have to be daunting. We asked our readers to tell us about their favourites, with many selecting places that have personal, tailored programmes and a supportive community. Here are 10 of the top gyms and fitness classes as selected by our readers.

Elevate 9.8 gym on Marionville Road is a gym with 4 trainers. One reader said: "Hands down best gym in Edinburgh. Great community spirit with top class coaches. Bespoke small group PT classes and a range of other fitness options. Sean Mckirdy and the team also offer a combination of strength, fitness and build classes." Photo: Supplied

Project Strength and Fitness at Pefferbank markets itself as 'not your typical commercial chain gym where you pay a membership and are then left to your own devices'. Personal training sessions are adapted to each individual to suit their current training needs and goals and fitness classes are run over a 6-8 week training cycle so you can see results Photo: Supplied

Energize gym at Edinburgh park on Lochside Place was highly rated as 'a very friendly gym with great staff'. The club offers a wide range of unique studio and outdoor classes, including Outdoor Military classes. Day rates are available for gym, swim and classes. Photo: Google

Lift Gyms UK on Gorgie Road was popular choice. It's rated highly as a 'fantastic community of coaches and members'. One said: "Loads of space, plenty of equipment, and a friendly atmosphere." Classes include Hyrox, circuits and soon introducing Yoga. Award winning group offering personal training sessions an free day pass for prospective members. Photo: Supplied

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The best gyms and fitness classes to get in shape this year as selected by our readers - Edinburgh News

Jully Black joins us for a special edition of her 'Blue' Monday Motivation to lift spirits and combat the January blues. Jully addresses the reality of Blue Monday and shares practical tips to beat the slump, from connecting with loved ones to embracing hobbies and incorporating aromatherapy.

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Blue Monday Motivation: Conquering the post-holiday slump - Global News