FameEX Morning Crypto News Recap | January 12, 2024

US Spot Bitcoin ETFs Generate $4.6 Billion in Trading Volume on Debut Day

On their inaugural trading day, U.S. spot bitcoin exchange-traded funds (ETFs) accumulated a total trading volume of $4.6 billion. Blackrock's Ishares Bitcoin Trust, the world's largest asset manager, contributed over $1 billion to this figure. Grayscale's spot bitcoin ETF, formerly the Grayscale Bitcoin Trust, recorded a total trading volume of $2.3 billion.

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

SEC Chair Gary Gensler Cast the Deciding Vote in Favor of Spot Bitcoin ETFs, marking a significant decision as the regulator voted on these ETFs, with two commissioners for and two against. Gensler's vote tipped the balance in favor of approval, allowing 11 spot bitcoin exchange-traded funds (ETFs) to move forward.

Spot Bitcoin ETFs Engage in Fee Competition as Bitwise Takes an Innovative Approach

Spot Bitcoin ETFs Prepare for Intense Competition by Offering Low Fees and Teaser Rates. Major financial players including Blackrock and Invesco/Galaxy are slashing fees to gain an edge in the growing spot Bitcoin ETF market. Bitwise stands out with the lowest regular fee among the current ETF offerings.

Circle, a Stablecoin Provider, Pursues Public Listing, Submits Confidential Filing to US Securities Authority

Circle Internet Financial, the fintech firm responsible for the stablecoin USD Coin, is making strides towards an initial public offering (IPO). They have confidentially submitted a Form S-1 filing to the U.S. Securities and Exchange Commission (SEC), indicating their intention to go public.

Blockchain Association Tells Elizabeth Warren: Crypto Primed to Challenge Traditional Banking

The Blockchain Association has refuted Senator Elizabeth Warren's accusations that former security officials working with the organization aim to undermine national security efforts. The nonprofit argues that these ex-security officials have joined the association due to their belief in values such as freedom, individual sovereignty, and permissionless innovation, rather than seeking to weaken national security efforts.

Anthony Scaramucci of Skybridge Capital Argues Biden's Anti-Crypto Policies Could Impact His Election Chances

Anthony Scaramucci, founder of Skybridge Capital, a global investment firm, suggests that the Biden administration's anti-crypto policies could impact the upcoming elections. Scaramucci points out that 52 million Americans, constituting 20% of the voting population, currently hold cryptocurrencies, with a significant portion having supported Biden in the previous election.

Balaji Srinivasan Compares Bitcoin ETF Approval to Undoing FDR's Gold Seizure

The U.S. approval of bitcoin ETFs marks a significant transition from centralized monetary systems to decentralized finance, according to tech and crypto expert Balaji Srinivasan. He compares this shift to reversing the gold-confiscating Executive Order 6102, highlighting it as a key moment in empowering individuals over central authorities through crypto assets like bitcoin.

South Korea Maintains Ban on Crypto ETFs Despite Increasing Bitcoin Premiums in the Country

South Korea steadfastly prohibits financial institutions from investing in digital currencies, preventing the introduction of crypto ETFs domestically. This policy, reaffirmed by a Financial Services Commission (FSC) representative, continues despite bitcoin's value in the country showing a significant premium, exceeding the global rate by over $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.