Apr 5, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as Australia-based Monochrome Asset Management announced their application for a spot bitcoin (BTC) exchange traded fund.

Video transcript

Australia could have a spot Bitcoin ETF soon and could ordinals dominate the NFT market. You're watching Coindesk Daily, I'm your host, Jen Sei Australia is one step closer to getting a spot. Bitcoin ETF of its own asset manager. Monochrome has applied for a spot Bitcoin Exchange traded fund with. So Australia, according to an announcement by the firm, if approved, the monochrome Bitcoin ETF would be the first spot Bitcoin et in Australia, which would allow the direct holding of Bitcoin. Earlier this year. Monochrome Asset Management's head of legal and compliance, Derek Vladimir Henningson told Coindesk that they anticipated their Bitcoin ETF would be listed in the second quarter of the year. Bitcoin Miner Hut eight is a more diversified company with multiple revenue streams following the completion of its merger with us Bitcoin Corp last year. That's according to a research report from broker Can accord genuity. Analysts wrote that H eight has around seven exa hashes per second of self mining capacity and revenue from self mining accounts for around 68% of revenue today with the remaining coming from managed services hosting and high performance computing. The report added that with the Bitcoin having event expected later this month. Management is taking a more considered approach to buying new mining machines which indicates the priority of efficiency over scale in the near term. And Franklin Templeton says that the Bitcoin network has seen a resurgence in innovation and development in the past year. The asset manager wrote quote, the activity is starting to accelerate within the Bitcoin NFT space and quote, the report added that ordinal collections are starting to dominate the N market in terms of volume and market cap. And this is reflected by market share data showing an increase in dominance starting in December last year when Bitcoin surpassed rival Blockchain Ethereum in NFT trading volume. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.

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