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Ethereum Treasury Firm BitMine Uplisted to NYSE, Increases Share Buyback Program to $4 Billion
Publicly traded Ethereum treasury firm BitMine Immersion Technologies was uplisted to the New York Stock Exchange (NYSE) on Thursday, with shares of BMNR concluding trading on the smaller NYSE American exchange with Wednesday's market close.
"Today, BitMine achieved a major milestone by being uplisted to the 'Big Board' NYSE,” BitMine Chairman Tom Lee said in a statement. “The NYSE is the envy of capital markets around the world, and BitMine is proud to be the newest company traded on this exchange.”
Alongside its uplisting, the firm also announced its board of directors approved an increase in its previously established share buyback program, raising its limits from $1 billion to $4 billion.
SharpLink Gaming initiated with a Buy at TD Cowen on Ethereum holdings
TD Cowen initiated coverage of SharpLink Gaming with a Buy rating and $16 price target The firm notes its price is based on estimated Ethereum dollar gain of $93M for FY26 and an Ether price of about $3,650 as of year-end.
Unlike crypto-buying firms dedicated to Bitcoin, Sharplink has shaped itself as an operating company that’s able to grow its digital assets stockpile through staking, the process through which entities participating in the process of validating transactions can earn Ethereum rewards.
Although several Ethereum exchange-traded funds have debuted in the U.S. that offer staking, TD analysts posited that the firm will generate a comparatively “superior staking yield” based on the fees that the ETFs charge and liquidity constraints for staking among asset managers.
Iran's Potential Use of Bitcoin for Tolls in the Strait of Hormuz Raises Skepticism Among Experts
The cryptosphere was abuzz on Wednesday after The Financial Times reported that Iran would demand shipping companies pay tolls in cryptocurrency, including Bitcoin, for safe passage through the Strait of Hormuz, the maritime chokepoint through which 20% of the world’s oil flows. Negotiations reportedly start at $1 per barrel.
Some Bitcoiners welcomed a report that Iran and affiliated actors are accepting Bitcoin for safe passage through the Strait of Hormuz
TRM’s Ari Redbord expressed skepticism, said that “we don’t have data at this point indicating that crypto is being used at scale.”
Bloomberg has reported that shipping companies are using stablecoins and Chinese yuan to transit the world’s most vital oil artery.
Treasury Secretary Bessent Urges Senate to Pass the Clarity Act Amid Disputes Over Stablecoin Yields
Treasury Secretary Scott Bessent criticized some crypto leaders as “nihilists” for resisting the stalled Clarity Act.
The bill remains stuck over disputes about stablecoin yield and President Donald Trump's personal crypto ventures.
With midterms approaching, lawmakers warn that time is running out to pass the legislation.
Bitcoin & Ethereum Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Thursday was $343.30 million. The total net asset value of Bitcoin spot ETFs is $93.24 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.50%.
The Bitcoin spot ETF with the highest net inflow on April 9 was iShares Bitcoin Trust (IBIT), with a net inflow of $269.34 million, according to SoSoValue.
Source: SoSoValue
The overall net inflow of the US Ethereum spot ETF on Thursday was $85.19 million. The total net asset value of Ethereum spot ETFs is $12.69 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 4.75%.
The Ethereum spot ETF with the highest net inflow on April 9 was iShares Ethereum Trust ETF (ETHA), with a net inflow of $90.94 million, according to SoSoValue.
Source: SoSoValue
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