Inflation figures send crypto market into the green
The US inflation figures have been released and the crypto market is reacting positively. CPI and core inflation, which does not take into account fluctuating prices of food and energy, fell lower than expected. This fuels hopes that inflation will ease in the future, which is favorable for investments in risky assets such as cryptocurrencies. Bitcoin analysts predict a possible price appreciation as a result of these developments. Lower core inflation could prompt the Federal Reserve not to raise interest rates at the next meeting. This could further boost exchange rates, such as the Bitcoin rate.
First Italian bank with direct Bitcoin purchase
Italy’s largest bank, Intesa Sanpaolo, has made its first direct investment in Bitcoin. The bank bought Bitcoin worth about €1 million. This is an important step for the Italian financial sector, as Intesa Sanpaolo is the first bank in the country to carry out a direct crypto transaction. With this, the bank aims to respond to customer demand for investment in digital assets. Intesa Sanpaolo was already active in the crypto market by trading crypto options, futures and ETFs. Intesa Sanpaolo’s purchase of Bitcoin comes as a result of growing interest in the crypto market.
Canadian investors gain access to BlackRock’s Bitcoin ETF
BlackRock, the world’s largest asset manager, has launched a new Bitcoin ETF on the Cboe Canada. The ETF, called iShares Bitcoin ETF (IBIT), offers Canadian investors access to the U.S.-based iShares Bitcoin Trust (IBIT), which invests in Bitcoin. The ETF trades under the symbols IBIT and IBIT.U. Helen Hayes, head of iShares Canada at BlackRock, emphasized that the ETF offers investors an easy and cost-effective way to gain exposure to Bitcoin. The launch of IBIT in Canada follows the success of the U.S. IBIT.
