Lummis introduces legislation to establish 1 million Bitcoin strategic reserve for the US
The initiative would begin by moving the 210,000 Bitcoin the US government currently holds into a Treasury-managed reserve.
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The initiative would begin by moving the 210,000 Bitcoin the US government currently holds into a Treasury-managed reserve.
Assad Jafri 2 min read
The move follows a similar decision by the Wisconsin Pension Fund, which allocated 2% of its $156 billion in assets to Bitcoin ETFs in the second quarter.
The ETFs are scheduled to begin trading as US markets open at 09:30 Eastern Time on July 23.
The firm believes Trump's rumored endorsement of Bitcoin as a strategic reserve asset could ignite a "parabolic" surge in the flagship crypto's price.
From crypto exchanges planning an IPO to Bitcoin miners, nearly every U.S. crypto firm will likely benefit from Trump’s win.
The exchange has published listing notifications for five spot Ethereum ETFs, which are set to begin trading on July 23 after securing final regulatory approval.
The crypto market recorded a significant surge as New York trading began, climbing to new monthly highs despite most equities falling at the same time.
South Korean traders remain interested in the digital asset despite its challeneges.
As of press time, WLD was trading at $2.65, up 33% over the last 24 hours, based on CryptoSlate data.