FameEX Morning Crypto News Recap | January 12, 2024

US Spot Bitcoin ETFs Achieve $4.6 Billion in Trading Volume on First Day

U.S. spot bitcoin exchange-traded funds (ETFs) recorded an impressive $4.6 billion in trading volume on their first day. Blackrock's Ishares Bitcoin Trust, the world's largest asset manager, contributed over $1 billion to this total, while Grayscale's spot bitcoin ETF, previously the Grayscale Bitcoin Trust, saw a substantial trading volume of $2.3 billion.

SEC Chair Gary Gensler Cast the Pivotal Vote in Favor of Spot Bitcoin ETFs

SEC Chair Gary Gensler played a pivotal role by casting the deciding vote in favor of 11 spot Bitcoin ETFs. This decision was reached after a regulatory vote, which saw two commissioners supporting the ETFs and two opposing. Gensler's vote tipped the scales towards approval, allowing these ETFs to advance.

Spot Bitcoin ETFs Compete on Fees with Bitwise's Innovative Approach

Spot Bitcoin ETFs Brace for Fierce Rivalry, Slashing Fees and Offering Teaser Rates. To assert dominance in the emerging spot Bitcoin ETF market, heavyweights like Blackrock and Invesco/Galaxy are reducing fees aggressively. Bitwise has emerged as a frontrunner with the most competitive regular fee among the existing ETF options.

Circle, a Stablecoin Issuer, Seeks Public Listing with Confidential Filing to US Securities Regulator

Circle Internet Financial, the fintech firm behind the USD Coin stablecoin, is taking steps towards an initial public offering (IPO). The company has submitted a confidential Form S-1 filing to the U.S. Securities and Exchange Commission (SEC), signaling its plans to go public.

Blockchain Association to Elizabeth Warren: Cryptocurrency Poised to Contest Conventional Banking Systems

The Blockchain Association has rebuffed Senator Elizabeth Warren's claims that former security officials collaborating with the organization intend to hinder national security efforts. The nonprofit asserts that these ex-security officials have aligned with the association due to their commitment to values like freedom, individual sovereignty, and permissionless innovation, rather than any intent to undermine national security endeavors.

Anthony Scaramucci of Skybridge Capital Suggests Biden's Anti-Crypto Stance Might Affect His Election Prospects

Anthony Scaramucci, founder of Skybridge Capital, a global investment firm, believes that the Biden administration's anti-crypto policies may have electoral consequences. He highlights that 52 million Americans, comprising 20% of the voting population, are crypto owners, with a considerable number having backed Biden in the previous election.

Balaji Srinivasan Likens Bitcoin ETF Approval to Reversing FDR's Gold Seizure

Balaji Srinivasan, a renowned tech and crypto authority, sees the U.S. sanctioning of bitcoin ETFs as a monumental shift from traditional centralized finance to decentralized systems. He likens this change to overturning the gold-seizing Executive Order 6102, emphasizing its role in shifting financial power from central entities to individuals via cryptocurrencies like bitcoin.

South Korea Continues Prohibition of Crypto ETFs Amid Rising Bitcoin Premiums Nationally

South Korea firmly bans financial institutions from digital currency investments, blocking crypto ETF launches within its territory. This stance, reiterated by a Financial Services Commission official, persists even as Bitcoin in South Korea commands a notable premium, surpassing the international rate by more than $1,500.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​