Headlines
▌SEC postpones resolution deadline for Fidelity Spot Ethereum ETF to March 5
The U.S. SEC has postponed its decision on Fidelity’s proposed spot Ethereum ETF, and the new resolution deadline is March 5.
Bloomberg analyst James Seyffart said: "This move is completely in line with expectations. In my opinion, the really important date is late May."
▌Direxion submitted applications for 5 leveraged Bitcoin ETFs
According to public documents, The well-known fund management company Direxion submitted application documents for five leveraged Bitcoin ETFs, with leverage of 2 times, -2 times, 1.5 times, -1.5 times and -1 times respectively.
Bloomberg analyst James Seyffart said that Rex Shares, ProShares and Direxion have all submitted similar applications, and the number of leveraged Bitcoin ETFs may soon exceed related long products.
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC was 41,279.9 US dollars, with fluctuations during the day. Frame-3.16%;
ETH Recent The transaction price was US$2,466.4, and the intraday increase or decrease-2.34%;< /p>
BNB’s recent transaction price was US$313.1, with an intraday increase or decrease of -0.67% strong>;
The recent transaction price of strong>%;
The recent transaction price of DOGE was US$0.0779, with intraday gains and losses-2.65%;
ADA’s recent transaction price was US$0.5017, with intraday gains and losses-3.57%;
SOL’s recent transaction price was US$94.16, with intraday changes< span style="color: rgb(255, 0, 0);">-4.10%.
Policy
▌Judge in SEC v. Binance case Will hear arguments on whether cryptocurrencies are securities
Federal Judge Amy Berman Jackson, who is overseeing the SEC’s case against Binance, Binance.US and former CEO Changpeng Zhao, has ordered a ban on digital assets Whether securities are subject to court review.
In a document released on January 18 by the U.S. District Court for the District of Columbia, Judge Jackson stated that she will hear arguments on how the SEC handles cryptocurrencies under the current regulatory and legal framework, Binance .US’s legal team will be allowed to explain in court the issue of “whether digital assets are always securities” and as collateral for securities.
▌The Canadian Securities Administrators release proposed regulatory requirements for cryptocurrency investment funds< /p>
The Canadian Securities Administrators (CSA) has released proposed regulatory requirements for public investment funds seeking to invest in crypto-assets to better protect investors and reduce risks. The requirements include crypto-asset investment limits and custody obligations.
Under the proposed amendments, only alternative investment funds and non-redeemable investment funds will be allowed to directly buy, sell or hold crypto assets, and other mutual funds can only invest in these funds to obtain cryptocurrency exposure. mouth. The assets invested must be listed on an exchange recognized by Canadian securities regulators and must be fungible. Additionally, assets must be insured and stored in cold wallets. An annual review of the trustee's internal management by a public accountant is required.
It is reported that the proposed proposal will be open for public comment within 90 days, after which a consultation document will be written and a broader regulatory framework for crypto assets will be considered.
▌U.S. Treasury Department officials call on lawmakers to respond to the next crisis Previous development of encryption regulatory standards
Graham Steele, assistant secretary of the U.S. Treasury Department for Financial Institutions, warned that U.S. lawmakers need to take action to develop cryptocurrency regulatory standards before the next crisis breaks out.
Steele said that after every financial crisis in the United States, new regulations will be adopted, such as the "Dodd-Frank Act" and the "National Bank Act." He said that with cryptocurrencies, policymakers have the ability to act before a crisis occurs.
▌Robinhood with 7.5 million The U.S. dollar settles with Massachusetts regulators over "gamification" charges
According to Reuters, cryptocurrency and stock trading app Robinhood has settled a $7.5 million fine with Massachusetts regulators over "gamification" charges. Gamification case settled.
It is reported that Massachusetts securities regulators filed an enforcement action in December 2020, accusing Robinhood of promoting its platform as "some kind of game you might win" to inexperienced investors. , and recommended that Robinhood’s broker-dealer license in the state be revoked. The new settlement ends a nearly three-year legal battle between Robinhood and the state of Massachusetts.
Blockchain Applications
▌Ethereum’s latest ACDE conference: Sepolia will be held in January Forked on the 30th, Holesky will be forked on February 7
Ethereum core developer timbeiko.eth issued a document summarizing the latest Ethereum Core Developer Executive Meeting (ACDE), The consensus among all core developers is to have the new software version ready by the middle of next week. Highlights include:
Customer teams are willing to abide by the testnet deployment plan. Sepolia will fork on January 30 and Holesky will fork on February 7. Customer announcements are expected next week;
EIP 2537, 6110, and 7002 are supported by almost all teams and are tentatively included in the next fork, with Verkle, EOF, and 4444 discussed in depth in the following ACDE.
▌Trump Team Launches Limited Edition Digital Trading Cards on Bitcoin Ordinals
Former US President Trump’s NFT team CollectTrumpCards announced the launch of limited edition Trump digital trading cards on Bitcoin Ordinals. The post stated that the MugShot series has a maximum mintage of 200, and currently only 99 can be purchased using WETH on CollectTrumpCards.com. Collectors will be able to claim their exclusive serial number inscriptions on Magic Eden. The MugShot version will be released on December 31, 2024. None are transferable before.
▌CoinGecko: NFT trading volume dropped by $14.5 billion month-on-month in 2023
According to CoinGecko’s report, NFT transaction volume in 2023 will be less than half of 2022, falling from US$26.3 billion to US$11.8 billion, a month-on-month decrease of US$14.5 billion. The Dune Analytics dashboard shows that the trading volume of OpenSea, the leader in the NFT market, exceeded US$2 billion for nine consecutive months from 2021 to 2022, but shrank to approximately US$170 million by December 2023.
Rohan Handa, head of NFT at Mysten Labs, said that the decline in the field was caused by poor macroeconomic conditions and the collapse of some well-known projects, which weakened the public and investors' confidence in NFT. Confidence in the stable crypto industry.
Cryptocurrencies
▌Nine Spot Bitcoin ETFs Today’s trading volume increased by 34%, GBTC fell by 24%
Data compiled by Bloomberg analyst Eric Balchunas showed that today’s trading volume of nine new spot Bitcoin ETFs increased by 34% compared with yesterday. , was US$1.05 billion, and GBTC was US$1.059 billion, a decrease of 24% compared with yesterday.
Eric Balchunas commented: “Normally, we will see a steady decline in trading volume every day after the listing of ETFs, and rarely see a reversal. But except for GBTC, other products have achieved After a rebound, GBTC changes smoothly, so this is not a fluctuation issue, which is a good sign in my opinion."
▌The cumulative trading volume of U.S. spot Bitcoin ETFs reached $14 billion
Data released by Bloomberg analyst Eric Balchunas showed that as of the close of the fifth day, all U.S. spot Bitcoin ETFs The cumulative total transaction volume was US$14.063 billion, and today’s transaction volume was US$2.109 billion, a decrease of 3.3% compared with the previous day.
▌Valkyrie expects at least 20 billion in the first year US dollars flow into spot Bitcoin ETFs
Valkyrie Investments co-founder and chief investment officer Steven McClurg said in an interview that at least US$20 billion is expected to flow into spot Bitcoin ETFs in the first year.
▌Bloomberg: State Street The bank restructured its digital assets department and cut some positions
According to Bloomberg, people familiar with the matter revealed that State Street Bank reorganized its digital assets department (State Street Digital) and cut some positions, most of which Employees were moved to the bank's traditional asset services and technology operations, and some positions were eliminated. It's unclear how many employees were affected.
It is reported that the century-old Boston-based bank launched the unit in 2021. As of the end of 2023, State Street Digital had approximately 100 full-time employees, and its crypto custody services are still awaiting regulatory approval. approve.
Important economic developments
▌Federal Reserve Bostic: If inflation falls faster than expected , open to starting to cut interest rates before July
Federal Reserve Bostic said that if there is "convincing" evidence that inflation is falling faster than I expect, it will be open to cutting interest rates in We are open to cutting interest rates before July.
Stick reiterated that the benchmark is to cut interest rates starting in the third quarter, but caution is needed to avoid cutting rates too early and risk triggering a recovery in demand and price pressures.
Golden Encyclopedia
▌Why Bitcoin spot ETFs are so important
ETFs legitimize Bitcoin and allow institutions to hold Bitcoin through their existing services. Financial advisors can now easily include Bitcoin in their investment portfolios. Since Bitcoin has little correlation to many traditional assets and is highly volatile, adding an ETF to your portfolio (say, 1%) will provide you with a better performing Sharpe Ratio. It doesn't take much thinking, adding ETFs to your long-term asset management strategy is a smart move.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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