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CDS Crypto News March 8 Cryptocurrency Highlights

Crypto News

March 8 Cryptocurrency Highlights

Curious About Today's Crypto Developments? Here's the Latest News Covering Bitcoin Price, Blockchain, DeFi, NFTs, Web3, and Crypto Regulation

sevval08/03/20241 Mins read353

Crypto News– Today in the world of cryptocurrency, BlackRock, one of the largest asset managers globally, has revealed plans to invest in spot Bitcoin exchange-traded funds (ETFs) for its Global Allocation Fund (MALOX).

March 8 Cryptocurrency Highlights

In an updated filing, MALOX states its intention to purchase BlackRock‘s own spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), as well as ETFs from other issuers. The fund may acquire shares in ETFs that track the performance of Bitcoin by directly holding the cryptocurrency, including those sponsored by BlackRock affiliates.

However, the fund will exclusively invest in Bitcoin ETPs listed and traded on national securities exchanges, as specified in the Securities and Exchange Commission (SEC) filing.

On another note, Federal Reserve Chair Jerome Powell addressed the status of central bank digital currencies (CBDCs) in the United States, emphasizing that the country is far from implementing one. Powell dismissed concerns about a retail-focused CBDC facilitating surveillance, stating that the Federal Reserve has no interest in a CBDC that surveils users’ transactions, citing the example of China’s digital yuan.

Powell emphasized that if the Fed were to ever consider launching a CBDC, it would be done through the banking system and would not involve individual accounts for all Americans or any surveillance mechanisms. He reiterated that the Federal Reserve prioritizes maintaining privacy and security in any potential CBDC initiative.

Sources:cointelegraph

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.