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Of the approximately 400 new ETFs launched in 2024, the four biggest launches by inflows have all been spot BTC ETFs, Geraci said in September.
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Bitcoin has dominated the ETF landscape this year, accounting for six of the top 10 most successful launches in 2024, Nate Geraci, president of The ETF Store, said in an X post.
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On Nov. 21, US Bitcoin ETFs broke $100 billion in net assets for the first time, according to data from Bloomberg Intelligence.
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The crypto market surged following Donald Trump’s victory in the US presidential election, as many believe his win will benefit the industry, Cointelegraph Research said.
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Bitcoin ETFs were listed in the US in January after a lengthy tussle with regulators.
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Grayscale’s GBTC charges management fees of 2.5%. In July, the asset manager listed Grayscale Bitcoin Mini Trust (BTC) as a cheaper alternative. Its management fees are 0.15% annually.
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This figure factors in more than $20 billion in net outflows from Grayscale Bitcoin Trust (GBTC), which the asset manager launched in 2013, initially as a non-listed trust.
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Overall, United States Bitcoin ETFs saw more than $35 billion in aggregate net inflows for the year. That equates to roughly $144 million in net inflows each trading day, according to Farside.
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“Fidelity is a closer second here, 44% of Blackrock’s total, compared to 31% in Bitcoin,” Farside said.
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Fidelity Ethereum Fund (FETH) again notched second place, with $1.5 billion in net inflows.
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Abrahamyan noted that regulatory oversight enhances consumer confidence, even if it seems at odds with the decentralization narrative. “Trust comes with the assurance that funds are safe,” he explained.
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Following Aramyan’s presentation, the discussion turned to the importance of regulation in driving blockchain adoption. Vakhtang Abrahamyan, the CEO of Fastex, opened the session by underscoring the inevitable rise of Web3 and the role of regulation in building trust within decentralized systems, saying: “The sooner, the better.”
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Discussing the future of Bahamut, Fastex’s layer-1 EVM-compatible blockchain platform, Aramyan underscored its open and permissionless structure: “Anyone can join as a validator and start creating tokens, marketplaces or NFT collections without requiring approvals.”
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Aramyan argued that this snowball effect would enable the ecosystem to grow continuously, attracting developers, businesses and new participants.
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He described this philosophy as “unlike any other blockchain,” emphasizing how it creates a continuous “loop” where success drives further innovation: “If you build on the chain and the chain rewards you, you’ll naturally love the rewards and continue building. In turn, you receive even greater rewards from the chain.”
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Aramyan described PoSA as a system that directly rewards validators and creators through blockchain incentives, explaining: “The more users spend gas when interacting with your products, the more you’ll be able to earn in terms of blockchain fees.”
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Pavel Aramyan, Web3 program lead at Fastex, opened the conference by announcing that the proof-of-stake and activity (PoSA) consensus mechanism is in its final stages and will go live by the end of the year.
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Harmony Meetup’s significance was further highlighted by key discussions on blockchain’s fundamental pillars, including regulatory leadership, custody infrastructures and collaborative innovation.
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The conference highlighted innovations such as the proof-of-stake and activity (PoSA) consensus mechanism, which was designed to transform decentralized rewards.
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The 6th edition of Harmony Meetup, an annual event bringing together Web3 creators and industry experts from around the world, took place on Dec. 13 at the Intercontinental Ras Al Khaimah in the UAE.
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