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Crypto News LIVE Updates: The OG cryptocurrency Bitcoin broke above $47,000 levels on Monday, the first time in nearly 2 years. Smaller tokens, or altcoins, also recovered and were trading in the green at press time. The optimism was reflected in the global crypto market cap, which climbed over 7% in the past 24 hours to $1.72 trillion.
The price surge was fueled by expectations that spot Bitcoin exchange-traded funds (ETFs) would soon get the ok from the US securities watchdog. Asset manager Valkyrie filed amended Form S-1s with the federal regulator, seeking permission to launch its spot Bitcoin ETF. Soon, other ETF applicants followed suit, including WisdomTree, VanEck, Fidelity, and BlackRock, among others.
In anticipation of the approval, VanEck has poured about $72.5 million into its proposed spot Bitcoin ETF. Meanwhile, the SEC’s additional comments on pending applicants’ Form S-1s have sparked a debate in the crypto industry. While Perianne Boring, the president and founder of the Chamber of Digital Commerce, views it as a “delay” signal, Bloomberg analyst James Seyffart disagrees.
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01:34:06 PM IST, 9 January 2024
Solana Now Second Largest Ecosystem In Terms Of Monthly Active Developers
The Solana developer ecosystem has maintained steady growth over the past 12 months after witnessing a sharp decline in developer count from all-time high in December 2022. An average of 2500-3000 monthly active developers were building on Solana throughout 2023, recent data from the Solana Foundation showed.
01:03:22 PM IST, 9 January 2024
Crypto News LIVE: Spot Bitcoin ETFs Could See 8% Premium
With investors keenly awaiting the SEC’s decision on spot Bitcoin ETFs, Reggie Brown — Head of ETF Trading at GST — said he expects spot Bitcoin products, if approved, to trade at a 8% premium to its net asset value. Furthermore, Brown said it would be difficult to keep ETF prices in equilibrium with underlying Bitcoin holdings, given the SEC’s reluctance to permit direct spot Bitcoin trading by broker-dealers.
12:42:51 PM IST, 9 January 2024
Crypto News LIVE: DeFi Poses Mounting Risk To Financial Stability, Warns CFTC
The US commodities watchdog, CFTC, has released a report, outlining the emerging risks associated with digital assets, especially within the decentralized finance (DeFi) space. One of major concerns, the report states, is the lack of accountability within the DeFi sector, which poses risks to consumers, investors and financial stability.
12:01:52 PM IST, 9 January 2024
Crypto News LIVE: Institutional Investors Shorting Bitcoin ETF Market Despite Price Rally
Despite Bitcoin’s recent price surge, with the OG cryptocurrency zooming past $47,000 levels on Monday for the first time since April 2022, institutional investors are exercising caution and have begun shorting the ETF market.
11:52:36 AM IST, 9 January 2024
Crypto News LIVE: Solana Memecoin BONK Flips Shiba Inu in Trading Volume
BONK, a memecoin based on the Solana (SOL) network, has overtaken Shiba Inu in its 24-hour trading volume. Bonk saw a meteoric 158% jump in its trading volumes over the last 24 hours to $324.5 million. By comparison, SHIB’s trading volumes declined to $179.2 million during that period.
11:43:30 AM IST, 9 January 2024
Crypto News LIVE: Timeline For Spot Bitcoin ETF Approval Uncertain?
The US SEC’s recent comments on pending Spot Bitcoin ETF Form S-1 applications signal a possible delay in their approval, according to Chamber of Digital Commerce President Perianne Boring.
11:16:56 AM IST, 9 January 2024
Crypto News LIVE: Spot Bitcoin ETF Issuers Make a Beeline To File Amended S-1 Applications
Would-be spot Bitcoin ETF issuers, including the likes of Valkyrie, WisdomTree, BlackRock, and Fidelity, filed amended Forms S-1 with the US securities regulator on Monday, seeking permission to launch their Funds. The SEC has until Jan 10 to decide whether to approve or reject spot Bitcoin products. In anticipation of an approval, VanEck has poured $71.5 million into its proposed Bitcoin ETF.
09:52:48 AM IST, 9 January 2024
Crypto News LIVE: Digital Currency Group Faces Heat As Crypto Veteran Alleges Deception
The announcement by crypto firm Digital Currency Group (DCG) that it had repaid loans worth $1 billion taken from creditors, including $700 million from Genesis, has raised eyebrows, with crypto veteran Vijay Boyapati accusing the DCG of misleading Genesis’ creditors.
09:18:43 AM IST, 9 January 2024
Crypto News LIVE: Thailand’s $14 Billion Digital Handout Plan Gets The Ok
Thailand government has gotten the nod to borrow money for its 500 million baht (roughly $14 billion) “digital wallet” program, which involves distributing 10,000 baht (approx. $300 million) to Thai residents. The digital handout scheme, however, has courted controversy, with critics warning that it would push up inflation.
09:08:06 AM IST, 9 January 2024
Crypto News LIVE: ETF Approval Inevitable
Former SEC chair Jay Clayton told CNBC that that the Bitcoin ETF “approval is inevitable,” adding that the approval could be a huge step not just for Bitcoin but for the financial world.
09:01:15 AM IST, 9 January 2024
Crypto News LIVE: VanEck DTCC Listing
VanEck, another spot Bitcoin ETF filer, has also added its ETF with the ticker $HODL with the DTCC for clearance.
08:16:21 AM IST, 9 January 2024
Crypto News LIVE: WisdomTree Ticker Listed On DTCC
WisdomTree spot Bitcoin ETF, with the ticker $BTCW, is now listed on the Depository Trust & Clearing Corporation, following Invesco Galaxy’s Bitcoin ETF (BTCO) listing with the DTCC.
08:13:13 AM IST, 9 January 2024
Crypto News LIVE: Bitcoin ETF Approval Imminent?
People associated with the filings believe that the United States Securities and Exchange Commission (SEC) issuing additional comments on their form S-1s is not much to worry about, amid high hopes on the approval before January 10, 2024.
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