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Crypto News

BTC Price At $97K

As of press time, BTC price traded at $97,401, down marginally by 0.2% intraday. However, it’s worth pointing out that the coin’s 24-hour low and high were $95,707.35 and $99,168.61, respectively. The flagship coin’s dominance saw a 0.52% increase from yesterday to 60.87%, signaling that altcoins took more heat and lost market value.

US SEC Reviews BlackRock’s Proposal for Bitcoin ETF In-Kind Redemptions

The U.S. Securities and Exchange Commission (SEC) is reviewing a proposal from BlackRock to allow in-kind redemptions for its spot Bitcoin ETF. The regulatory agency acknowledged the proposal in a Thursday filing, inviting public comments within 21 days of its publication in the Federal Register.

Trump’s World Liberty Financial Plans to Create ‘Strategic’ Token Reserve

Chase Herro, co-founder of President Donald Trump’s DeFi project, World Liberty Financial, said the platform plans on creating a “strategic reserve” with tokens bought.

Herro was introduced by Donald Trump Jr., who sat on a panel with World Liberty co-founders Zak Folkman, Zach Witkoff and Herro at startup Ondo Finance’s inaugural summit in New York. Zach is the son of Steve Witkoff, a close-ally to Trump who helped connect the President’s family to World Liberty Financial’s founders, but has since been picked to be Trump’s envoy to the Middle East.

VanEck Predicts Solana to Hit $520 by End of Year 2025

Asset management firm VanEck has predicted that Solana (SOL) is on track to hit a $520 price target by the end of this year. The asset manager said its projection for Solana’s price hinges on its potential year-end market share within the Smart Contract Platform (SCP) world. It estimated the projected price based on the M2 Money Supply.

Bitcoin Spot ETF Flow

On Feb. 6(Eastern Time), the total net inflow for Bitcoin spot ETFs was $-140.3 million, according to SoSoValue data.

The Bitcoin spot ETF with the highest net inflow on Feb. 6 was Grayscale Bitcoin Mini Trust , with a net inflow of $5.15 million.

As of now, the total net asset value of Bitcoin spot ETFs is $113.51 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.91%.