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Crypto Developments: BlackRock's Bitcoin ETF, Shibarium's Growth, and Buterin's ETH Transfer

Discover the latest crypto news featuring BlackRock's Bitcoin ETF progress, Shibarium's record growth, and Vitalik Buterin's significant ETH transfer.
Published on 2023-12-20

BlackRock Advances Bitcoin ETF Efforts

BlackRock is making strides towards launching its Bitcoin ETF. The investment giant recently updated its S-1 filing with the SEC, revealing new details about its fund creation and redemption processes. The proposed fund, identified by the IBIT ticker, now adopts a cash-only approach. This adjustment is seen as a positive step, aimed at facilitating the creation of new ETF shares without relying on direct Bitcoin deposits. This move aligns with similar actions by ARK Invest and 21Shares, indicating growing interest in spot Bitcoin ETFs.

Shibarium Achieves Milestone with 130 Million Inscriptions

Shibarium, Shiba Inu's layer-2 solution, has reached an impressive milestone with over 130 million inscriptions. This achievement underscores its rapid growth, boasting the lowest gas fees in the industry. The development was faster than any other chain, showcasing the dedication of the Shibarium team. Among its competitors, only Polygon surpasses Shibarium with 161 million inscriptions, while BNB and Avalanche C-Chain trail behind with 77 million and 60 million inscriptions, respectively.

Vitalik Buterin's ETH Transfer to Coinbase Wallet

Ethereum co-founder Vitalik Buterin recently transferred 500 ETH, valued at around $1.1 million, to a Coinbase Custody Wallet. This transaction sparked curiosity and speculation within the crypto community. Addressing the conjectures, Buterin clarified that these transfers are primarily donations to charities, nonprofits, and other projects. The recipients of these donations typically sell the ETH to fund their operational needs, dispelling any misconceptions about personal selling intentions.

In summary, the crypto space is witnessing significant developments, with BlackRock pushing forward with its Bitcoin ETF, Shibarium achieving remarkable growth, and Buterin's ETH transfer highlighting philanthropic efforts. These stories reflect the dynamic and evolving nature of the cryptocurrency industry.

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