SEC Officially Approves Spot Bitcoin ETF
In a historic move, the U.S. Securities and Exchange Commision has officially approved the United States’ first regulated spot Bitcoin exchange-traded funds. The regulator gave the green light to applications from BlackRock, Wisdom Tree, Grayscale, Bitwise, VanEck, Fidelity, ARK 21Shares, Valkyrie, Invesco Galaxy, and Franklin Templeton on January 10. Interestingly, this decision followed a false announcement posted from the SEC’s official Twitter account, leading to market turmoil. During the first day of trading, the cumulative volume across ten ETFs exceeded $4.5 billion, with the Grayscale Bitcoin Trust standing out as a top performer, handling $2.3 billion in volume.
Circle, Issuer of the USDC Stablecoin, Files for IPO in the United States
Circle Internet Financial, the creator of USD Coin, submitted an initial public offering (IPO) application in the United States. The company anticipates the IPO to move forward once the U.S. Securities and Exchange Commission concludes its review, noting that market conditions remain a determining factor. Circle’s 2021 initiative to go public through a collaboration with Concord Acquisition Corp, valued at $4.5 billion initially, faced a setback as the transaction was eventually canceled.
Investors React as Vanguard Refuses Spot Bitcoin ETFs
Vanguard, the asset manager, has stated that it will not provide the recently introduced spot Bitcoin ETFs on its brokerage platform, citing a misalignment with its conventional offerings and prompting some customers to consider exiting. Despite this, the company has substantial indirect exposure to Bitcoin, given its standing as one of the largest shareholders of MicroStrategy.
Ahead of Sentencing, Sam Bankman-Fried Strengthens Legal Representation
Sam “SBF” Bankman-Fried, ex-CEO of FTX, has officially informed federal court about hiring new legal counsel as he prepares for his upcoming sentencing hearing on seven criminal charges. In a filing dated January 9th, Torrey Young and Marc Mukasey, representing Bankman-Fried, revealed their involvement. The legal team for SBF also submitted a sealed document, indicating the possibility of an appeal related to the November conviction. In a filing dated January 9th, Torrey Young and Marc Mukasey, representing Bankman-Fried, revealed their involvement. The legal team for SBF also submitted a sealed document, indicating the possibility of an appeal related to the November conviction.
