BlackRock’s Bitcoin ETF Surpasses Its S&P 500 Fund

Robinhood pushes deeper into crypto

Robinhood is becoming a major competitor to Binance, this week Robinhood announced to

• Launch stock tokens on ARB chain, including private companies like OpenAI and SpaceX, tradable 24 hours a day, five days a week with no commission or spread
• Reveal Layer 2 blockchain
• Expand crypto suite in EU and US with perpetual futures and staking

All those products are first available in Europe.

BlackRock Bitcoin ETF earns than its S&P 500 fund

At the world’s biggest asset manager, a Bitcoin exchange-traded fund now generates more revenue than its signature tracker of the S&P 500 Index.

The roughly $75 billion iShares Bitcoin Trust ETF (ticker IBIT) has seen a torrent of cash from institutional and retail investors alike, drawing inflows in all but one of the last 18 months. With an expense ratio of 0.25%, the fund brings in an estimated $187.2 million in annual fees, based on back-of-the-envelope math calculated by Bloomberg as of July 1. That slightly edges out the $187.1 million made by BlackRock’s iShares Core S&P 500 ETF (IVV), which is nearly nine times larger at around $624 billion in assets, and charges just 0.03%.

Vitalik Buterin on Ethereum at ETHCC

Speaking at the at the Ethereum Community Conference, the founder of Ethereum Vitalik Buterin proposed practical tests for crypto projects to ensure user security.

He laid out practical “tests” that he said every crypto project should pass. These include

1) the walk-away test. If the company behind an application disappears, do users keep their assets?

2) the insider attack test: How much damage can rogue insiders or compromised front-ends cause?

3) whether it has a trusted computing base: How many lines of code must be trusted to protect users’ funds or data?

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