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Produced by Daniel Aharonoff & Mogul Media AI

Fjord Secures $4.3M Seed Round for Community Funding

Fjord Secures $4.3 Million Seed Round: A Game Changer for Community-Focused Funding In a pivotal moment for the burgeoning world of blockchain and cryptocurrency, Fjord has successfully closed a remarkable $4.3 million seed funding round. This achievement underscores the critical need for platforms that not only connect innovative projects with dedicated backers but also prioritize fairness and transparency in the funding process. For more insights into Fjord’s potential impact, check out Fjord . A Strong Backing The oversubscribed round was led by Lemniscap , a reputable investment firm known for its focus on emerging crypto assets. Other notable participants included Mechanism Capital , Zee Prime Capital , and Castle Capital , along with a roster of angel investors such as Crypto Kaduna , Fomosaurus , Joshua Rager , and Danny Wilson of Illuvium fame. This diverse group of investors highlights the growing confidence in Fjord's mission and its potential impact on the blockch...
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Produced by Daniel Aharonoff & Mogul Media AI

Cryptocurrency Market Shift: Bitcoin ETF Launch Impact and Fund Movement

Cash is moving away from high-profile crypto funds in the wake of the recent launch of spot Bitcoin exchange-traded funds (ETFs). According to a report by digital asset fund manager CoinShares, investors withdrew $21 million from crypto fund issuers just last week. Since the long-awaited Bitcoin ETFs started trading on January 11, a substantial $2.9 billion has been pulled out of major funds like Grayscale, CoinShares, and 21Shares.

Outflows and Inflows in the Crypto Market

  • Short Bitcoin products, which take a bearish stance on crypto prices, saw inflows as investors bet on price decreases.
  • Altcoin funds providing exposure to Ethereum and Solana experienced a combined outflow of $22.5 million.
  • Investors seeking digital asset exposure are favoring the newly launched Bitcoin ETFs over higher-cost incumbent issuers, resulting in $4.13 billion inflows to the new ETFs versus $2.9 billion outflows from established funds in the U.S.

Impact of Spot Bitcoin ETF Approval

On January 10, the U.S. Securities and Exchange Commission finally approved spot Bitcoin ETFs after a decade of rejections. These ETFs allow investors to gain exposure to the leading cryptocurrency by purchasing shares that mirror its price movements. Wall Street giants like BlackRock and VanEck, who had applied to launch their crypto investment products, received the green light this month, effectively bringing Bitcoin to mainstream investors.

Performance and Changes in the Market

  • Among the 10 trading ETFs, BlackRock's iShares Bitcoin Trust stands out as the best performer with $1.3 billion in assets under management.
  • Grayscale, a prominent crypto fund manager, has faced significant outflows. Its Bitcoin Trust (GBTC), which recently transitioned to a Bitcoin ETF, has seen investors rapidly cashing out.
  • Previously, GBTC operated as a closed-end fund with a 6-month lock-up period preventing share redemptions.

The shift towards Bitcoin ETFs and the subsequent outflows from traditional crypto funds mark a significant change in investor behavior following the approval of spot Bitcoin ETFs. As mainstream financial institutions like BlackRock embrace these investment vehicles, the landscape of digital asset investments continues to evolve rapidly.

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