Breaking news out of China reveals that the country’s largest fund has applied for a spot Bitcoin exchange-traded fund (ETF) in Hong Kong. This move comes as a surprise considering China’s previous hostility towards Bitcoin, but it reflects the growing institutional interest in the cryptocurrency. Other funds, such as Harvest Fund, have also applied for Bitcoin ETFs through their Hong Kong arms. If approved, these ETFs could validate Bitcoin in the eyes of Chinese regulators and investors, potentially leading to increased investment in the cryptocurrency. Additionally, this article covers updates on Ethereum, Solana, ICP, altcoins, and recent developments in the cryptocurrency market, making it an informative read for those interested in the latest cryptocurrency news.

Latest Cryptocurrency News

Welcome to the latest cryptocurrency news update! In this article, we will cover the most recent developments in the world of cryptocurrencies, including updates on Bitcoin ETF applications, institutional interest in Bitcoin, and exciting news from altcoins such as Polkadot and Taboo. So let’s dive in!

Bitcoin ETF Application Filed by BlackRock of China

Breaking news out of China! The BlackRock of China, one of the largest fund managers in the country, has applied for a spot Bitcoin exchange-traded fund (ETF) in Hong Kong. This application comes as a surprise, considering China’s previous hostility towards cryptocurrencies. However, it reflects the growing institutional interest in Bitcoin and the potential for cryptocurrency ETFs to gain regulatory approval. If approved, this could significantly validate Bitcoin’s status in the eyes of Chinese regulators and investors.

Updates on Bitcoin ETF Progress in the United States

Meanwhile, in the United States, there have been promising developments regarding Bitcoin ETFs. Several investment managers with over $100 million in assets have disclosed their holdings, showing a continued influx of cash to buy Bitcoin. This is a clear indicator of growing institutional investment in Bitcoin and a testament to the increasing acceptance of cryptocurrencies in the traditional financial sector.

Institutional Interest in Bitcoin Growing in China

Despite China’s previous ban on cryptocurrencies, institutional interest in Bitcoin is on the rise in the country. The submission of a Bitcoin ETF application by the BlackRock of China and other major funds highlights this growing interest. By leveraging their Hong Kong subsidiaries, these funds are sidestepping the ban and gaining exposure to Bitcoin in a compliant manner. This move could potentially lead to increased investment in Bitcoin from Chinese investors.

Monthly Chart Shows Eight Consecutive Green Candles for Bitcoin

Switching gears to Bitcoin’s price movement, the monthly chart is showing some impressive performance. Bitcoin has achieved eight consecutive monthly green candles, an unprecedented feat in its history. This steady upward trend is a positive sign for Bitcoin investors and indicates a strong bull market. It is exciting to see Bitcoin’s continued growth and resilience in the face of market fluctuations.

BASE Flips ETH and Arbitrum on the Monthly Transactions Scale

Now, let’s shift our focus to Ethereum and its Layer 2 solution, BASE. BASE recently reached a significant milestone, surpassing both Ethereum and Arbitrum in monthly transactions. With a total value locked (TVL) of $4 billion, BASE has become the third-largest Ethereum Layer 2 platform by TVL, beating out competitors such as Blast. This achievement showcases the growing popularity and adoption of BASE as a scalable and efficient solution for Ethereum transactions.

Polkadot Active Addresses Hit Record of 600K

In the world of altcoins, Polkadot is making its mark. The platform recently reached a record high of 600,000 active addresses. This is a remarkable achievement for Polkadot, signifying its growing user base and increasing adoption. It’s worth noting that a significant portion of these active addresses, around 41% or 248,000, are attributed to Moonbeam, a cross-chain smart contract platform built on Polkadot. This shows the success and impact of Moonbeam in driving activity on the Polkadot network.

Taboo Launches Cryptocurrency Marketplace for NFTs

Taboo, a leading adult entertainment crypto platform, is making waves with its launch of a marketplace for non-fungible tokens (NFTs). As a premium brand in the crypto entertainment space, Taboo aims to revolutionize the distribution of gated content through its innovative marketplace. The platform combines features such as live streaming, virtual reality, merchandise stores, in-person events, and gamified concepts to provide a unique and immersive experience for users. With the support of brand ambassadors like Khloe Tera, Taboo is poised to make a significant impact on the blockchain entertainment industry.

Cardano’s Future and Upcoming Upgrades

Looking ahead, Cardano has exciting plans for its future. The platform is preparing for two major upgrades, including the implementation of a community-run governance system and a new version of its proof-of-stake consensus model. These upgrades aim to enhance Cardano’s scalability, security, and decentralization. With a passionate community and a strong development team behind it, Cardano is well-positioned for future growth and adoption.

Jump Capital Invests in AI Crypto

In other news, Jump Capital, a leading venture capital firm, has made an investment in AI Crypto. This investment highlights the growing interest in the intersection of artificial intelligence and cryptocurrencies. AI Crypto, a web3 AI firm, has raised $7.5 million in a seed round led by Jump Capital. The company has developed an innovative app called Rain Maker, which allows users to train AI models from their smartphones and earn rewards. This partnership between Jump Capital and AI Crypto showcases the potential of AI technology in the cryptocurrency industry.

Upcoming Altcoin Daily Meetup in LA

Lastly, Altcoin Daily is hosting an exciting meetup in Los Angeles. The meetup, called the Comedy Roast Meetup, promises to be a fun-filled event for cryptocurrency enthusiasts. Tickets are available for purchase, and attendees will have the opportunity to interact with fellow traders and hear from industry experts. This meetup is a great opportunity to network, learn, and support the cryptocurrency community.

In conclusion, the cryptocurrency market continues to evolve and present exciting opportunities for investors and enthusiasts. From Bitcoin ETF applications to innovative projects in the altcoin space, there is never a dull moment in the world of cryptocurrencies. Stay tuned for more updates and news as the industry continues to grow and mature.