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June 17, 2024
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Spot Bitcoin ETFs To Go Premium, CFTC Issues Stark Warning About DeFi


Crypto News LIVE Updates: If spot Bitcoin ETFs get the nod from the SEC, they will trade at an 8% premium to their net asset value, according to Reggie Brown, Head of ETF Trading at market maker GST.

The remarks came as would-be Bitcoin ETF issuers, including the likes of BlackRock, Valkyrie, VanEck, and Fidelity, among others, filed amended S-1 applications with the US securities watchdog, in hopes of receiving approval to launch their spot Bitcoin products.

Meanwhile, 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 the major concerns, the report states, is the lack of accountability within the DeFi sector, which poses risks to consumers, investors, and financial stability.

Live

03:39:42 PM IST, 9 January 2024

Crypto News LIVE: FTX And Celsius Rush To Book Profits, Transfer $35M in WBTC And ETH To Binance and Coinbase

The FTX and Celsius Network are said to have transferred $35 million worth of Wrapped Bitcoin (WBTC) and Ethereum (ETH) to centralized exchanges (CEXs), including Binance, and Coinbase — potentially to cash out or move their holdings to different digital assets. The move coincided with recent price surge in both WBTC and ETH.

03:21:21 PM IST, 9 January 2024

Crypto News LIVE: Singapore Regulator Places imToken and BKEX on Alert List

The Monetary Authority of Singapore (MAS) on Tuesday placed custodian crypto wallet imToken and crypto exchange BKEX on its Investor Alert List. The decision comes amid growing regulatory concerns in Singapore’s crypto landscape.

02:54:41 PM IST, 9 January 2024

Crypto News LIVE: SEC Chair Could Still Take U-Turn on Spot Bitcoin ETFs

The SEC was quick to comment on the amended S-1 applications submitted by would-be spot Bitcoin ETF issuers. The move has the crypto industry on the edge, with Perianne Boring, president and founder of the Chamber of Digital Commerce, saying the SEC Chair Gary Gensler could come up with another way to reject spot Bitcoin products.

02:37:13 PM IST, 9 January 2024

Crypto News LIVE: What’s Next For SEI After 20% Price Surge?

SEI, the native token of Layer-1 blockchain Sei, made a tremendous comeback, surging 20% over the last 24 hours to $0.75. The token has appreciated a whopping 170% in the last 30 days.

02:11:41 PM IST, 9 January 2024

Crypto News LIVE: Shiba Inu (SHIB) Burn Rate Spikes 900% Amid Price Rally

The Shiba Inu (SHIB) burn rate rose by a whopping 900% over the past 24 hours, with nearly 34 million SHIB tokens sent to burn addresses. The development coincided with the price surge in SHIB, with the meme coin having appreciated over 5% to $0.00000952 in the past 24 hours.

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 the 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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