On Tuesday, ProShares’ Bitcoin Strategy Exchange Traded Fund (ETF) – the first-ever in the US – launched, trading under the ticker BITO. News of the launch compounded with its seismic reception provided upward momentum that saw the two leading cryptocurrencies [Bitcoin & Ethereum] eclipse their previous peaks and set new all-time highs during Thursday’s trading session
Outside the markets, several crypto-oriented entities including Coinbase and Chainalysis saw significant developments. Here’s a recap of other headlines you might not have caught this week:
Square may build bitcoin miner, chief executive discloses
Square and Twitter CEO Jack Dorsey hinted last Friday that Square might join the bitcoin mining space. He revealed plans to build a miner that would be available as open-source for users and businesses around the world. Dorsey explained via a series of tweets that the custom silicon-based system would integrate community input, just as Square's hardware Bitcoin wallet has done.
The Twitter chief also said that with this new project, his company intends to establish measures towards making Bitcoin mining accessible to as many people as possible. Dorsey noted this as currently crypto mining remains dominated by large-scale owners who have significant capital backing to facilitate their endeavours.
The team proposed to work on the project would be led by the head of hardware at Square Jesse Dorogusker and will be tasked with studying the technological stretch needed to actualize this project. Dorsey has in the past shown dedication to Bitcoin, having said that he would leave his roles at Square and Twitter to focus on the digital asset if the need ever arises.
Grayscale files to convert its Bitcoin Trust to Bitcoin ETF
Digital asset manager Grayscale has filed with US regulators to change its Grayscale Bitcoin Trust (GBTC) into a
