With spot bitcoin ETFs breaking records, BitGo introducing Replace-By-Fee, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening!
Spot Bitcoin ETFs Break Records
Unprecedented investor interest surged into spot Bitcoin ETFs on Mar. 12, with inflows exceeding $1 billion in a single day, as reported by BitMEX Research. BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, attracting nearly $850 million in capital. This highlights the growing enthusiasm for Bitcoin and its associated financial instruments.
Since its launch on Jan. 11, 2024, IBIT has amassed an impressive $11 billion in inflows, overshadowing the combined inflows of nine other issuers approved by the Securities and Exchange Commission (SEC) to launch Bitcoin spot price-based ETFs. IBIT’s success signifies a significant shift in investment trends towards digital assets, particularly Bitcoin, which maintains its dominance as the leading cryptocurrency by market capitalization.
BitGo Introduces Replace-By-Fee
BitGo, a prominent provider of cryptocurrency wallets and custody solutions, has unveiled Replace-By-Fee (RBF). This announcement underscores BitGo’s dedication to equipping its clientele with advanced features and capabilities to navigate the ever-evolving landscape of Bitcoin transactions.
The inclusion of RBF support in BitGo wallets empowers clients with a tool for transaction management, particularly in adjusting fees for acceleration.
$6.4 Million Seed Investment for Web3 Fashion House
mmERCH, a Web3 fashion startup leveraging blockchain technology, revealed its successful $6.4 million seed funding round, valuing the company at $25.7 million post-money. Leading this significant advancement is Liberty City Ventures, marking a pivotal moment for the fashion house under the leadership of Colby Mugrabi.
The funding, as detailed in a press release from mmERCH on Thursday, will be allocated towards enhancing the brand’s proprietary technology stack, expanding the engineering team, and fueling subsequent collections, all geared towards establishing a contemporary brand and platform.
Judge Rules Craig Wright Not Bitcoin Inventor
The judge presiding over a legal dispute concerning the origin of Bitcoin has ruled against Australian computer scientist Craig Wright. The creator, known only by the pseudonym Satoshi Nakamoto, has remained anonymous since Bitcoin’s inception.
Dr. Wright, hailing from Australia, has claimed to be Satoshi since 2016. However, his assertions and supporting evidence have faced skepticism from cryptocurrency experts. Over the years, Dr. Wright has been in legal disputes with individuals who have contested his claims, resulting in recurrent courtroom appearances.