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First Mover Americas: BlackRock’s ETF Demand Ranks Among Top 5
The latest price moves in crypto markets in context for Feb. 7, 2024.
Updated Mar 9, 2024, 5:51 a.m. Published Feb 7, 2024, 1:01 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
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Only 17 days after its launch, the BlackRock iShares Bitcoin Trust (IBIT) became one of the top five exchange-traded funds (ETFs) of 2024 based on inflows, according to data from Bloomberg Intelligence. The only funds beating IBIT's $3.2 billion of year-to-date inflows are mammoth longstanding index ETFs from iShares and Vanguard that offer exposure to the S&P 500 or the total stock market. In the No. 1 spot, with $13 billion in inflows, is the iShares Core S&P 500 ETF (IVV), which has a whopping $428 billion of assets under management (AUM). No. 2, with $11.1 billion in inflows, is the Vanguard 500 Index Fund ETF (VOO), which has nearly $398 billion in AUM.
Bitcoin continued to trade in a tight range on Wednesday while ether gained around 2% over the past 24 hours. Altcoin saw the most significant gains, climbing 5%. Hedera announced a five-year partnership with the Saudi Ministry of Investment Association on Tuesday to support local tech startups. The company will launch DeepTech, a $250 million venture studio to support Saudi firms that focus on blockchain, Web3 and AI. Monero’s XRM lost 8% after Tuesday's 30% slump to a 20-month low prompted by crypto exchange Binance saying it will stop listing the privacy token as of Feb. 20.
Liquidity provider B2C2 secured regulatory approval in Luxembourg as a virtual asset service provider (VASP) as the London-based firm looks to expand its presence in the European Union. Approval allows B2C2 to offer over-the-counter (OTC) spot crypto services to institutional clients. It becomes the 12th VASP to be added to Luxembourg's Commission de Surveillance du Secteur Financer’s (CSSF) public register. The company already has a license from France's Autorité des Marchés Financiers (AMF), acquired when it bought Paris-based Woorton in August last year. The moves come as the EU prepares to implement its Markets in Crypto Assets (MiCA) regulation this year. Once it kicks in, the 27-nation trading bloc will be the first major jurisdiction worldwide to introduce comprehensive, tailored rules for the sector.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
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