TLDR: Bitcoin Surpasses the $60K Mark After Two Years, Bitcoin EFT’s BTC AUM 4%, Blast’s Rocky Launch, Robinhood and Arbitrum Team Up, Dencun upgrade Live Date Announced, Stride Announces stDYM, Gemini Reaches Settlement with NYDFS & SBF Pleads for Shorter Sentence - Advises Prison Guards to Invest in Solana.

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Bitcoin Highlights of the Week

Bitcoin Surpasses the $60K Mark After Two Years

On February 28th, Bitcoin surged over 6%, breaching the $60,000 mark for the first time in over two years. The last time Bitcoin traded above this threshold was on November 12, 2021, before beginning a reversal that saw it plummet over 67% to a low of $19,297 in April 2022.

Bitcoin ETF’s Shows Consistency with$2B Daily

This bullish momentum coincided with the spot Bitcoin exchange-traded funds (ETFs) reaching a record high of $2.4 billion in daily trading volume on February 26th, with the new nine spot Bitcoin ETFs collectively surpassing $2 billion in trading volume for multiple days during the week.

Bitcoin EFT’s BTC AUM 4%

Bitcoin ETFs currently possess close to 4% of the total BTC supply. Collectively, the spot Bitcoin ETFs holds 776,464 BTC valued at $47.7B. The dawn of a new paradigm in the Bitcoin ecosystem.

Bitcoin Futures Reach Record-breaking Interest

CoinGlass reported that the combined open interest for Bitcoin futures exceeded $26B on Friday. This surpasses the peak of $24B seen in the final quarter of 2021.

BlackRock Bitcoin ETF Gets on the Road

BlackRock introduces Brazil's BTC ETF, expanding its iShares Bitcoin Trust ETF launch beyond its borders. Industry insiders claim this is only the first of many BTC ETFs by BlackRock to be set up internationally. BlackRock’s BTC ETF in Brazil trades under ticker IBIT39.

Ethereum Highlights of the Week

Blast’s Rocky Launch

Blast's launch commenced with a surge, attracting 502k transactions from 18.8k wallets within an hour of its official release. This heightened activity led to bridge fees surpassing $500 on average for a brief period. Despite the initial excitement, a significant number of users withdrew nearly $2B. Resulting in a substantial drop in TVL from $2.3B to approximately $500M across the network and remaining deposits.

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