Crypto News: BlackRock Bitcoin ETF, Shibarium Milestone, Buterin's ETH Transfer

BlackRock Advances Bitcoin ETF

BlackRock has made significant strides in its pursuit of a Bitcoin ETF, as highlighted by recent amendments to its S-1 filing with the SEC. The updated document outlines the creation and redemption mechanisms for the proposed fund, identified by the IBIT ticker. The transition to a cash-only approach is seen as a positive development, aimed at creating new ETF shares without direct Bitcoin deposits. Other firms, such as ARK Invest and 21Shares, have also updated their filings, indicating growing interest in spot Bitcoin ETFs.

Shibarium's Record Inscriptions

Shibarium, Shiba Inu's layer-2 solution, has achieved a milestone with over 130 million inscriptions. This rapid growth surpasses most competitors, with only Polygon ahead with 161 million inscriptions. The Shibarium team's efforts have resulted in industry-leading low gas fees, contributing to its rapid adoption. Other networks like BNB, Avalanche C-Chain, and Fantom lag behind in inscription numbers, demonstrating Shibarium's strong market position.

Buterin's ETH Transfer to Coinbase Wallet

Ethereum cofounder Vitalik Buterin recently transferred 500 ETH, valued at approximately $1.1 million, to a Coinbase Custody Wallet. This move sparked speculation within the crypto community regarding his intentions. Addressing the curiosity, Buterin clarified that such transfers are primarily donations to charities and nonprofits. The recipients sell the ETH to fund their operations, dispelling notions of personal profit motives.

These developments underscore the dynamic nature of the cryptocurrency landscape, highlighting advancements in ETF applications, blockchain technology, and philanthropic efforts within the crypto community.