China News Today TheBitTimes.com

Yong Rong HK Asset Management emerges as the top holder in BlackRock Bitcoin ETF with $38M investment. Ovata emerges as biggest buyer in Bitcoin ETF market, investing $74M in various funds. Bitcoin price surpasses $61,000 amidst market dynamics, signaling resilience and potential. Yong Rong HK Asset Management Ltd, a prominent investment firm based in Hong Kong, has emerged as the leading investor in the BlackRock iShares Bitcoin ETF (IBIT). According to Bloomberg analyst Eric Balchunas, the firm has made a substantial investment of $38 million in IBIT, securing its position as the largest holder of the Bitcoin ETF. New high water more bitcoin ETF holders just rolled in: Yong Rong Asset Management based in HK bought $38m worth of $IBIT, which makes up 12% of its reported holdings. Interesting given HK has own ETFs now. But US ETFs have that irresistable combo of low fee and high volume. pic.twitter.com/FE2gyuIuIf — Eric Balchunas (@EricBalchunas) M...

NongHyup Bank revealed that the leading banks in South Korea, including Industrial Bank of Korea, Shinhan Bank, and Woori Bank, have joined its consortium for security token offerings. The consortium has also witnessed the participation of other financial technology companies such as Funble, Trackchain (a subsidiary of Aton), and Artipio (a fractional art investment subsidiary of Yes24), bringing the total number of participants to 18 firms. STO market reaches $26 billion NongHyup Bank, along with Suhyup Bank, Jeonbuk Bank, and six fractional investment firms, established a consortium in April to develop a security token ecosystem, as reported by The Korea Herald. With the STO market predicted to reach 34 trillion won ($26.6 billion) in size next year, banking groups are increasingly showing interest, particularly due to the Financial Services Commission’s plans to ease regulations later this year.  You might also like: Celsius users will be allowed to swap altcoins f...

El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months. El Salvador, the first country to legalize Bitcoin (BTC), has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023. As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022. On October 2022, Cointelegraph reported that Spain became the third-largest crypto ATM hub after installing 215 crypto ATMs. However, Spain continued its installation drive and is home to 226 crypto ATMs at the time of writing. El Salvador’s position as the fourth-largest crypto ATM hub was short-live...