Headlines
▌US spot Bitcoin ETF trading volume reached US$4.6 billion on first day of listing
The trading volume of US spot Bitcoin ETFs reached US$4.6 billion on the first day of listing, of which Grayscale’s GBTC trading volume exceeded US$2.1 billion, BlackRock’s IBIT exceeded US$1 billion, and Fidelity’s FBTC exceeded US$680 million.
▌BlackRock Spot Bitcoin ETF trading volume exceeds $1 billion
Bay The trading volume of Ryder Spot Bitcoin ETF (IBIT) officially exceeded $1 billion, which Bloomberg analyst Eric Balchunas said will break the trading record of ProShares Bitcoin Strategy ETF (BITO).
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC was 46,323.5 US dollars, with fluctuations during the day. Frame-0.97%;
ETH Recent The transaction price was US$2,615.58, with intraday changes +0.06%;
BNB The recent transaction price was US$309.2, with intraday changes +0.62%;
The recent transaction price of ;
The recent transaction price of DOGE was US$0.0846, with an intraday increase or decrease of -0.37% ;
ADA’s recent transaction price was US$0.5829, with an intraday increase or decrease of -0.21 %;
SOL’s recent transaction price was US$100.5, with intraday increases and decreases-0.79%.
Policy
▌SEC files motion asking Ripple to provide financial Statements and other information
According to a public document, the US SEC has filed a motion requesting Ripple to provide financial statements for 2022-2023, as well as its management of "institutional sales" after being sued. "Contracts.
▌U.S. Democratic Congressman Warren: SEC’s decision on Bitcoin spot ETF is a “law” Wrong”
Longtime crypto critic and Democratic U.S. Sen. Elizabeth Warren says the U.S. Securities and Exchange Commission’s (SEC) decision on a Bitcoin spot ETF is a “legal mistake.” ” Warren called for the immediate application of anti-money laundering rules to cryptocurrencies.
If the SEC is going to allow cryptocurrencies to penetrate deeper into our financial system, it is more urgent than ever that cryptocurrencies follow basic anti-money laundering rules. ."
Blockchain Applications
▌Hedera and Algorand cooperate to develop decentralized wallets Recovering Systems
Key players within the Hedera and Algorand ecosystems, including the HBAR Foundation and the Algorand Foundation, announced on January 11 the formation of a new alliance called DeRec Alliance to Build a decentralized digital asset recovery system.
The DeRec Alliance aims to simplify the process of protecting and recovering digital assets, introducing the Decentralized Recovery (DeRec) open source protocol as a standardized approach to secret management. The DeRec protocol automatically confirms that helpers retain the secret share and automatically reshares it when the secret changes or helpers join or leave, without revealing the identity or number of helpers.
▌Vertex: The migration process of USDC.e to native USDC has been completed
Go Centralized exchange Vertex stated that the migration process of USDC.e to native USDC has been completed, and starting from January 16, staking rewards will be distributed in the form of native USDC.
▌Prysm Ethereum client releases new version Prysm V4.2.0
Prysm Ethereum client releases new version Prysm V4.2.0, which adds full support for the upcoming deneb hard fork on goerli on January 17th, and also contains many bug fixes, security patches and improvements The Prysm mainnet experience feature, its team recommends all operators to update this version.
Cryptocurrency
▌JPMorgan Chase: Spot Bitcoin ETF may attract existing crypto investments Up to $36 billion in instruments
Spot Bitcoin ETFs traded in the United States are not expected to attract significant new capital, JPMorgan said, instead they may attract existing crypto instruments up to US$36 billion in funding.
The JPMorgan analyst team said this data includes $3 billion in inflows from ETFs based on Bitcoin futures, $3 billion to $13 billion in inflows from GBTC, and $3 billion in inflows from retail investors. Crypto exchanges/retail brokers’ digital wallets shift up to $15-20 billion in funding for spot Bitcoin ETFs.
▌Bloomberg Analyst: XRP ETF Will Not Be Approved in 2024
In an interview with Thinking Crypto host Tony Edward, when asked about the possibility of launching an XRP ETF this year, Bloomberg analyst James Seyffart stated that he does not think it will happen this year. He mentioned the U.S. SEC’s case against Ripple as one of the reasons for his stance, and suggested that an XRP ETF would only appear once this is completed.
Seyffart also said that before the SEC can consider any spot XRP ETF application, the Chicago Mercantile Exchange (CME) needs to have XRP futures trading.
▌Ric Edelman: Registered investment advisor will invest $150 billion in spot Bitcoin ETFs in two to three years
Ric Edelman, founder of the largest registered investment adviser (RIA) in the United States, said that registered investment advisers will invest $150 billion in spot Bitcoin ETFs over the next two to three years, making these ETFs the most successful launch in ETF history.
Edelman said: “Our research shows that 77% of independent advisors plan to allocate an average of 2.5% of client portfolios to spot Bitcoin ETFs. Since independent registered investment advisors manage a total of $8 trillion U.S. dollars, that’s $154 billion.”
Edelman believes that the price of Bitcoin will reach $150,000 within two years, an increase of nearly three times from the current price.
▌Grayscale plans to launch Bitcoin Covered Call ETF
Grayscale plans to launch Bitcoin Covered Call ETF product, full name Covered Call for The Grayscale Bitcoin Trust, an ETF designed to generate income from GBTC positions. According to its Form N-1A filing, this ETF does not invest directly in digital assets and is designed to provide current income while also participating in the price return of the Grayscale Bitcoin Trust.
▌Coinbase spokesperson: There are currently no plans to reduce transaction fees due to the listing of ETFs
Coinbase stated that spot Bitcoin ETF Opening the door for new entrants to put money into cryptocurrencies, the exchange has no plans to lower its fees despite extremely low fees from traditional financial competitors.
Coinbase does not disclose its base retail fees, but its retail fee ratio (measured as exchange trading revenue divided by retail trading volume) in the third quarter was about 2.5%. The exchange also offers advanced trading options where users can pay 0.6% on trades up to $10,000. A Coinbase spokesperson said: "Coinbase currently has no plans to reduce transaction fees due to the introduction of ETFs. Our primary way of monetizing is through custody fees."
▌Source: UBS will allow some clients to trade spot Bitcoin ETF
According to Coindesk, citing people familiar with the matter, Zurich-based banking giant UBS Group will allow some customers to trade Bitcoin spot ETFs. Preconditions for the deal include that UBS cannot solicit trades and that accounts with lower risk tolerance cannot participate in buying and selling, sources said.
▌Hashdex’s Bitcoin ETF does not yet offer spot exposure< /strong>
Hashdex issued an announcement stating that its Hashdex Bitcoin Futures ETF has not yet increased its Bitcoin spot exposure. Later, the fund will change its name and change its investment strategy to allow spot Bitcoin to enter its investment portfolio. , these changes will be effective through a registration statement currently under review by the SEC.
It is reported that the Brazil-based asset management company submitted an application in August last year to convert its Bitcoin futures ETF (DEFI) into a spot version (Hashdex Bitcoin ETF).
▌ProShares Bitcoin Strategy ETF’s daily trading volume exceeds US$2 billion, reaching a record high
Bloomberg analyst Eric Data released by Balchunas shows that the daily trading volume of ProShares Bitcoin Strategy ETF (BITO) exceeded US$2 billion, setting a record high.
The analyst said: "Maybe some funds are redemptions, but I think it is more that BITO's liquidity will serve market makers for a period of time."
▌Source: Merrill Lynch is weighing whether to launch a spot Bitcoin ETF
Merrill Lynch currently does not support spot Bitcoin ETF trading. Fox reporter Eleanor Terrett learned that according to sources, Merrill Lynch is waiting to see whether ETF trading is effective before deciding to change its internal policy that currently does not allow such products.
It is reported that Merrill Lynch is one of the world's largest securities retailers and investment banks, headquartered in New York City, USA.
Important economic developments
▌Federal Reserve Mester: It is too early to cut interest rates in March this year
Federal Reserve Mester said that he personally believes that it is too early to cut interest rates in March this year and needs to see more evidence of a fall in inflation. Inflation must fall on a sustainable basis for discussions about rate cuts to take place. But when it sees a sustained pullback in inflation, the Fed will discuss cutting interest rates. What now needs to be assessed is how long high interest rates and restrictive policies will be maintained.
Golden Encyclopedia
▌Mainnet
Mainnet is short for "mainnet" and is the main blockchain network where actual transactions take place and are conducted using the native cryptocurrency. It is not the same as a testnet or experimental environment; rather, it is the product of development activities. The mainnet features its own cryptocurrency, a digital asset necessary for the network to function. This native cryptocurrency is critical to the ecosystem’s governance process, staking program, and transaction fees.
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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