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Crypto

Dogecoin spot ETF BWOW to liquidate, exits after 11 months

Bitwise, a U.S. crypto asset manager, will liquidate and close its dogecoin spot ETF BWOW less than a year after launch. The fund, listed on NYSE Arca on Nov. 25 last year, will see its last trading day on Oct. 14. New share creation will halt before trading begins on Oct. 15. Remaining shareholders will receive a cash payment on Oct. 22 based on net asset value calculated as of Oct. 21.

Crypto

Tech Insight: Why stablecoins still are not used like money despite being super infrastructure

Zach Abrams, founder and CEO of stablecoin issuer Open Standard, said stablecoins can be as stable as cash, profitable and transferable online, but are not being used effectively for transactions. He cited hurdles in card settlement, institutional trading, corporate treasury management and fintech infrastructure. Abrams said Open Standard is focused on solving these issues with OpenUSD by sharing reserve income, charging small per-transaction fees and imposing no withdrawal fee.

Crypto

Why bitcoin cannot clear $80,000 as oil surge to $100 adds pressure

Bitcoin erased overnight gains after U.S. stocks opened on Sept. 9, as investors grew cautious ahead of U.S. producer and consumer price data. Major altcoins also fell. Brent crude climbed above $100 a barrel for the first time since July 23, adding pressure on risk assets, while Treasury yields stayed high. Spot bitcoin ETF flows turned negative on Sept. 8. In contrast, Zcash surged on ETF-related developments and the launch of options trading.