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- 5/29/24: BlackRock's Dominance 🗿🆔🧪
5/29/24: BlackRock's Dominance 🗿🆔🧪
Top News
BlackRock flips Grayscales spot Bitcoin ETF at $20B AUM
ENS Labs proposes ENS v2 upgrade to migrate to a layer 2
Semler Scientific adds $40M to its balance sheet

Specs’ Breakdown
1. BlackRock flips Grayscales spot Bitcoin ETF at $20B AUM
⌐◪-◪ → BlackRock is officially the largest Bitcoin ETF in the world after overtaking Grayscale at nearly $20B Bitcoin under management.
This is a major milestone for BlackRock considering Grayscale launched their Trust 2013 (before converting to an ETF) which gave them a massive headstart on all ETFs.
Now the top spot Bitcoin ETFs are:
BlackRock (IBIT) → 288,668 BTC
Grayscale (GBTC) → 287,453 BTC
Fidelity (FBTC) → 162,040 BTC
Ark (ARKB) → 48,564 BTC
Bitwise (BITB) → 36,234
This is what Grayscale gets for having the highest fees out of all the ETFs — a fatal mistake.
2. ENS Labs proposes ENSv2 upgrade to migrate to a layer 2
⌐◪-◪ → ENS Labs just proposed ENS v2 — a major upgrade to migrate ENS Domains to a Layer 2 network. Here are the major benefits:
lower gas fees
lower barrier to entry
easier subdomains
build your own (sub)registry)
naming every wallet
The team hasn’t yet determined which Layer 2 stack will be used for the migration, but whichever they choose will send a major signal to the entire industry. Watch the chain for insiders on this one.
Let me know which L2 you think they’ll pick in Specs Chat!
3. Semler Scientific adds $40M to its balance sheet
JUST IN: Healthcare product manufacturer Semler Scientific purchases 581 #Bitcoin for $40 million 👀
— Bitcoin Magazine (@BitcoinMagazine)
1:49 PM • May 28, 2024
⌐◪-◪ → Semler Scientific just announced a purchase of 581 BTC for $40M — their stock subsequently jumped 42.5%.
They are taking a page out of MicroStrategy’s playbook, and Michael Saylor seems pretty happy about it.
Their Chairman commented on the matter saying:
“Our purchase of BTC underscores our belief that BTC is a reliable store of value”.
“We believe that BTC has the potential to generate outsize returns as it gains increasing acceptance as digital gold.”
It’s only a matter of time before all companies have BTC on their balance sheet — it’s a brilliant inflation hedge and haven amid global instability.
First corps, then banks, then states, then nations.

Everything Else
⛓️ Crypto & DeFi
Researchers help man recover password to $3M BTC wallet
LayerZero daily messages hit lowest level in over a year
Opera, a crypto-friendly browser, integrates Google Gemini AI
EasyA Hackathon offers $250k prize at Consensus 2024
Maple Finance unveils Syrup yield platform, promises 15% yield
MoonPay launches new Web3 tool for brands venturing into crypto
Polygon Labs exec takes on additional role as Chief Business Officer
Dune launches enterprise solution for blockchain data integration
ZKasino, alleged scam, gives users 72-hr window to reclaim ETH
🏦 Wallstreet & VC
Spot Bitcoin ETFs see 11 straight days of net inflows
Two BlackRock funds buy shares in their own Bitcoin ETF
1st BTC mining derivative product goes live on US exchanges
Riot Platforms (RIOT) plans hostile takeover of Bitfarms (BITF)
Switchboard raises $7.5M Series A for web3 oracle
GaiaNet raises $10M round for decentralized AI project
Anzen Finance raises $4M for real-world asset issuance
🏛️ Legal & Regulatory
DOJ holds first hearing against Samourai Wallet developers
Ripple donates an additional $25M crypto PAC Fairshake
FTX Exec Ryan Salame sentenced to 7.5 years in prison
Mt. Gox trustee says they are not selling BTC imminently
Trump explores BTC to address US National Debt
Judge orders SEC to pay $1.8M legal fees to Debt Box
🌎 Rest of the World
Binance exec jailed in Nigeria might have malaria
Metaplanet, Japan’s MicroStrategy, to buy another ¥250M BTC
Cathie Wood says El Salvador’s GDP could 10x in 5 yrs due to BTC
OKX announces 19th proof of assets reserves snapshot
🖼️ NFTs & Metaverse
Sandbox launches Sandbox DAO with $11M/year budget
$PEPE active wallets double as ETH memecoin hits all-time highs
Iggy Azelea launches $IGGY memecoin, hits $15M market cap
Caitlyn Jenner says memecoin dev owes her 'lots of money'
‘Tickle-to-Earn’ cat game prompts surge in Aptos transactions

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