The Block
The price of bitcoin didn’t immediately react to the Securities and Exchange Commission’s approval of spot bitcoin ETFs on Jan. 10.The price action was far more dramatic yesterday; bitcoin’s price jumped to $48,000 before dropping to $45,000 following a fake announcement from the SEC yesterday.
Quick Take The SEC said it has approved proposals for spot bitcoin ETFs on an accelerated basis.
Quick Take The SEC spokesperson said the agency will provide updates as appropriate and said any agency action on exchange rule filings will be posted on the agency’s website.
Quick Take FTX’s bankruptcy estate is planning to sell dozens of properties in the Bahamas, including the apartment where Sam Bankman-Fried used to live.
Quick Take The exchange sent out notifications naming ARK 21Shares Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, Franklin Bitcoin ETF, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust and the WisdomTree Bitcoin Fund.
Quick Take Ripple’s purchase of $285 million in shares owned by early investors will value the company at $11.3 billion. The company’s CEO said Ripple holds more than $1 billion cash and over $25 billion in digital assets, mostly of XRP coins, on its balance sheet, according to Reuters.
Quick Take It appears NFT owners can no longer transform their X profile picture from a circle to a hexagon. The company began rolling out the service about two years ago, months before Elon Muck completed his acquisition of the social media platform.
Quick Take JPMorgan CEO Jamie Dimon doubled down on his persistent criticism of bitcoin, saying the digital asset “doesn’t have value.” Dimon’s comments in a television interview come as spot bitcoin ETFs are widely expected to finally gain approval today. The bank he leads has been named as an authorized participant for BlackRock’s prospective spot bitcoin ETF.
Quick Take The Cboe BZX exchange sent letters to the Securities and Exchange Commission on Wednesday, requesting “acceleration of registration” for proposed spot bitcoin ETFs.
Quick Take One high-ranking executive at a prospective spot bitcoin ETF issuer told The Block that they are expecting approvals for S-1 forms tonight. Once 19b-4 forms have come in and S-1 forms are deemed effective, trading can begin the following day.
