Bitcoin’s sharp sell-off caught many traders off-guard, intensifying the rate of long liquidations, but data shows bulls stepping in to buy the dip. Key points: Profit-taking near Bitcoin’s range highs aligns with traders’ previous reaction to new all-time highs. Dip-buying near key liquidation zones and consistent institutional investor demand suggest the sell-pressure won’t last long. Read more
Bitcoin mining-turned Ethereum firm BTCS Inc said it will be the first public company to issue an Ether dividend. Ethereum treasury firm BTCS Inc. will issue a one-time Ether dividend payment and a loyalty payment, totaling $0.40 per share in ETH, to reward shareholders and limit “predatory short-selling.” “These payments are designed to reward our long-term shareholders and empower them to take control of their investment by reducing the ability of their shares to be lent to predatory short-sellers,” the Bitcoin mining-turned Ethereum firm said on Monday. BTCS says it would be the first publicly traded company to issue a dividend in ETH — a move seemingly received well by investors as BTCS shares rose 10.4% on the day. Read more
The SEC has pushed back decisions on Truth Social’s Bitcoin-Ethereum ETF, Solana products from 21Shares and Bitwise and 21Shares’ Core XRP Trust — all now set for October deadlines. The US Securities and Exchange Commission (SEC) has delayed rulings on three high-profile crypto exchange-traded funds (ETFs), extending review deadlines into October. In notices filed Aug. 18, the agency set new decision dates of Oct. 8 for NYSE Arca’s Truth Social Bitcoin and Ethereum ETF, Oct. 16 for 21Shares’ and Bitwise’s Solana ETFs, and Oct. 19 for the 21Shares Core XRP Trust. The Truth Social Bitcoin and Ethereum ETF, submitted on June 24, is structured as a commodity-based trust holding Bitcoin (BTC) and Ether (ETH) directly and issuing shares backed by those assets. While branded under US President Donald Trump’s Truth Social platform, it functions like other spot Bitcoin and Ether ETFs already on the market. Read more