Bitcoin ETFs snap losing streak, price rises amid reports of executive order
Cryptos are rallying on reports that President Trump’s executive order will allow crypto to be included in retirement plans.
Bitcoin ETFs have turned a corner and are finally seeing inflows, following four consecutive days of outflows. On August 6, these ETFs brought in $91.6 million, according to Farside Investors data, with BlackRock’s iShares Bitcoin Trust taking the lion’s share, amassing $41.9 million.
bitcoin rose above $116,000 for the first time this month, buoyed by reports that President Trump will sign an executive order today allowing crypto to be included in retirement plans like 401(k)s.
In other bitcoin news:
Bakkt Holdings Inc., which announced its pivot to bitcoin last month, said it had acquired 30% of the Japanese Company Marusho Hotta. The company will be renamed bitcoin.jp in a deal “expected to kick off Bakkt’s multinational bitcoin treasury strategy,” according to a press release.
Digital asset management platform Parataxis Holdings announced it will go public via a SPAC with SilverBox Corp IV, to launch a $640 million “yield-enhanced bitcoin treasury strategy” in US and South Korean markets. The company will trade on the New York Stock Exchange under the ticker “PRTX.”
UK-based The Smarter Web Company said it raised $21 million via the launch of a bitcoin-denominated bond.
ZOOZ, a Nasdaq and TASE dual-listed Israeli company, announced it raised $5 million as part of a larger $180 million private placement to launch a strategic bitcoin treasury.
Japanese company ANAP acquired 82.33 bitcoin, bringing its total to 913.45.
