Hashdex discusses ETF with SEC, Grayscale files revised S-3

Headlines

▌Hashdex meets with SEC Chairman’s Office staff to discuss ETF

Peng Bo analyst James Seyffart said that Hashdex met with the SEC again on December 26, local time, to discuss ETFs. Unlike most previous meetings involving the "Trading and Markets" or "Corporate Finance" departments, this meeting was with the SEC Chairman's Office. (Office of Gary Gensler) staff.

▌Grayscale files revised S-3 document for GBTC conversion, or creation and redemption in cash

According to public documents, Grayscale submitted another revised S-3 document today, aiming to convert its GBTC into a spot Bitcoin ETF. Bloomberg analyst James Seyffart pointed out that Grayscale has made a compromise and may accept the SEC’s cash-only creation/redemption requirement.

Quotes

As of press time, according to coinmarketcap data:

The recent transaction price of BTC was 42,539 US dollars, with fluctuations during the day. Frame+0.32%;

ETH Recent The transaction price was US$2231.16, and the intraday increase or decrease+0.10%;

BNB The recent transaction price was US$297.5, with intraday changes +0.47%;

XRP’s recent transaction price was US$0.6223, with intraday gains and losses +0.35% ;

The recent transaction price of DOGE was US$0.0913, with an intraday increase or decrease of -0.26% ;

ADA’s recent transaction price was US$0.609, with an intraday increase or decrease of +0.15 %;

SOL’s recent transaction price was US$112.75, with an intraday increase or decrease+2.13%.

Policy

▌Ripple Attorney: Senator Warren’s The anti-encryption bill will not be passed in 2024

Ripple lawyer John E Deaton posted on the Don’t worry that Democratic Congresswoman Elizabeth Warren’s anti-encryption bill will be passed in 2024. She is playing the long game, and the encryption industry must be too.

▌U.S. Congressman Warren Davidson calls for a ban on CBDC

U.S. Congressman Warren Davidson posted on social media that the central bank Digital currency (CBDC) poses an existential threat to Western civilization. Sound currency is a stable store of value and an effective means of exchange. CBDC turns the corruption of money into a dystopian tool for coercion and control, and CBDC should be banned.

Blockchain Application

▌Arbitrum ecological DEX Camelot will be deployed to L3 network XAI< /strong>

Arbitrum ecological DEX Camelot announced that it will be deployed to the L3 network XAI, marking an important partnership with the XAI gaming ecosystem and making Camelot the liquidity solution for the Arbitrum Orbit chain. XAI tokens will be listed on Camelot in the coming weeks, and Camelot will be deployed on the XAI chain in the coming months.

▌ssv network launches custody and staking platform Allnodes

ssv network announces that it has launched Allnodes , Allnodes is a non-custodial platform where users can host master nodes, verification nodes, super nodes, Sentry nodes, full nodes, and participate in staking on more than 70 protocols.

▌BGD Labs: Aave Governance v3 is online

BGD Labs announced on the X platform that Aave Governance v3 has been launched. In Governance v3, AAVE, stkAAVE and AAVE stored in Aave v3 Ethereum have voting rights. The delegation dynamics are exactly the same as Governance v2, but all delegations have been reset to 0 when the system is activated. Additionally, voting/delegation can currently be done directly through any instance of the governance smart contract or user interface.

Cryptocurrency

▌Solana Ecological NFT Series Froganas Flooring The price has exceeded 15 SOL, and the sales in the past 24 hours have exceeded 4 million US dollars. Magic Eden data shows that the floor price of Solana ecological NFT series Froganas has exceeded 15 SOL, reaching 15.72 SOL at the time of writing this article. According to cryptoslam data, Froganas NFT sales exceeded US$4 million in the past 24 hours, becoming the NFT series with the highest sales in the past 24 hours. The total sales of this NFT series so far are approximately US$9.9 million, which means that nearly half of the current sales The amount was completed within the past 24 hours.

▌Tether CEO: Plans to launch several new products next year and integrate existing products

Tether CEO Paolo Ardoino posted on the Tether added approximately $4 billion in excess reserves to stablecoin pooled reserves in 2023. Tether has also co-founded several projects and supported several companies over the past few years (using a portion of its profits outside of the stablecoin’s comprehensive reserve). For 2024, the team plans to launch several new products and integrate existing products.

▌Morningstar Research Director: For ETF investors, a spot Bitcoin ETF will be the best product on the market

Investors await approval of the first U.S. spot Bitcoin ETF, which is a big deal for cryptocurrency investors It will be a milestone. "For ETF investors, this will be the best product on the market," said Bryan Armor, director of North American passive strategy research at Morningstar. "All other options currently have shortcomings to varying degrees."  

If the SEC approves a spot Bitcoin ETF, Armor expects to receive "batch approval" and multiple ETFs will be listed on the same day. "I expect they will give blanket approval to spot ETFs because most issuers are taking a similar approach in their applications," he said.

▌Brevan Howard Digital: Stablecoin transaction volume will exceed Visa in 2024

The Brevan Howard Digital team released a prediction for Web3 in 2024, believing that more Web2 companies will embrace Web3 and stabilize Coin trading volume will surpass Visa.  

In terms of games and brands: Web3 game distribution increased by more than 2-3 times; more of the world's largest Web2 game companies embrace Web3; more in the Apple App Store, Google Play Store and Epic Games Store Web3 enhanced games; the market value of game tokens will grow to US$40 billion; “Forever Brands” continues to rise in Web3.  

In terms of stablecoins: stablecoin trading volume will exceed Visa in 2024; the percentage of stablecoin trading volume on Solana will double; decentralized synthesis of US dollar stablecoins (ETH LST and short-term perpetual contracts) TVL will exceed US$1 billion in 2024.  

In terms of Ethereum and transaction processes: the proportion of pledged liquidity in ETH exceeded 50%; the total amount of ETH passes reached 119,600,000; Gas-free transactions became more common in cryptocurrencies; Rollups surged.  

Market: The token issuance window remains open; Abu Dhabi further opens up to encryption, and founders are further inclined to Abu Dhabi.

Important Economic Trends

▌Mergers, acquisitions and reorganizations are ushering in a period of opportunities due to warm policy policies< /strong>

Wind data shows that as of December 26, 111 listed companies have disclosed major restructuring announcements for the first time this year, far exceeding the level of 80 companies in the same period last year. The reporter learned that the regulatory authorities are actively studying the establishment and improvement of a "green channel" for the mergers, acquisitions and reorganizations of technology-based enterprises that have made breakthroughs in key core technologies. The mergers, acquisitions and reorganizations of private enterprises are also expected to receive more policy support. Market participants expect that under a more inclusive and innovative mechanism, capital market mergers and acquisitions will usher in a period of opportunity. (China Securities Journal)

Golden Encyclopedia

▌What is a full node?

All miners are full nodes, but not all full nodes are miners. Miners are the producers of blocks, while full nodes are the librarians of the blockchain network. Full nodes maintain a complete copy of the blockchain, ensuring that every transaction complies with network rules. They verify the legality of transactions and blocks and reject transactions and blocks that violate the rules. Non-mining full nodes do not create new blocks, but play an important role in maintaining the integrity of the network. They check the work of miners and ensure that network consensus rules are followed.

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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