PRESS RELEASE. Solama, a new meme coin developed on the Solana network, will soon get listed on one more centralized crypto exchange: HTX (formerly known as Huobi Global). The announcement was made on March 18, 2024, on Solama’s official X (Twitter) account. Growth Has No Boundaries Solama, one of the most promising Solana-based meme coins […]
Source link
DTCC data shows that the Wise Origin Bitcoin FD SHS is listed under the ticker BITB. Bitwise joins BlackRock, Invesco Galaxy, and Fidelity on the DTCC’s list.
Bitwise Asset Management has listed its spot Bitcoin exchange-traded fund (ETF) on the Depository Trust and Clearing Corporation (DTCC). This comes after Fidelity Investments listed its FBTC spot Bitcoin ETF on the DTCC’s active and prelaunch list last week.
Bitwise’s move is evidence of the firm’s confidence that a spot Bitcoin ETF will be approved in the United States soon. Chief Investment Officer Matt Hougan stated that while the firm is aware that regulators are yet to approve a spot Bitcoin ETF, it is “preparing as though there’s going to be a launch.”
“We’re preparing marketing and sales strategies and press and all those things, and we’re working with regulators to try to push things ahead,” he said in an interview with ETF.com. “But until you cross the finish line, you just don’t know.”
DTCC data shows that the Wise Origin Bitcoin FD SHS is listed under the ticker BITB. Bitwise joins BlackRock, Invesco Galaxy, and Fidelity on the DTCC’s list.
Experts urge discretion, pointing out that the listings do not represent regulatory approval. There has been speculation that the approval of a spot Bitcoin ETF product could result in $100 billion in inflows. Bloomberg ETF analyst James Seyffart calls the projection “an overstimation.” This was in response to a post by mathematician Fred Krueger discussing the ‘potential impact of $100 billion coming into Bitcoin as a result of the ETF approval.’
In his argument, Seyffart pointed out that since their introduction in 2004, gold ETFs in the United States have about $95 billion in assets despite their appeal to conservative investors. He opined that $100 billion in inflows was an “extreme outlier” even when measured over a period of several years.
This is likely an overestimation of demand in my opinion. Gold ETFs have been around since 2004 in the U.S. & currently have ~$95 billion in assets here. Spot #Bitcoin ETFs getting that much in inflows would be an EXTREME outlier success case even if measured over multiple years
— James Seyffart (@JSeyff) December 12, 2023
The Securities and Exchange Commission (SEC) is expected to make a decision on Ark Invest and 21Shares’ spot Bitcoin ETF application early next month. Some have suggested that the regulator could approve all such pending applications at the same time to prevent a single issuer from gaining first mover advantage.
Meanwhile, as part of its ten crypto predictions for the year 2024, Bitwise projects that Bitcoin will reach a new all-time high of $80,000 driven by the launch of a spot Bitcoin ETF early in the year followed by the Bitcoin halving in April.
The list includes predictions regarding a Coinbase revenue increase, Taylor Swift NFTs and AI assistants that shop online using crypto.
next
Crypto exchange Bithumb plans to become the first digital asset company to go public on the South Korean stock market.
Local news outlet Edaily reported on Nov. 12 that Bithumb is getting ready for an initial public offering (IPO) on the Kosdaq — South Korea’s version of the United States Nasdaq — with an expected listing date set for sometime in the second half of 2025.
Bithumb declined to confirm whether the IPO was going ahead but admitted it had recently selected an underwriter, which is a company tasked with guaranteeing the financial security of another typically before a firm goes public. Bithumb chose Samsung Securities as its potential IPO underwriter, according to Edaily.
Bithumb’s former chairman, Lee Jeong-hoon, returned to Bithumb as its registered director, according to sources familiar with the matter. Meanwhile, CEO Lee Sang-jun was excluded from a place on the board of directors due to an ongoing investigation into alleged bribery.
Additionally, the sources claimed Bithumb’s move to go public resulted from not wanting to give up further market share to Upbit — the largest crypto exchange in South Korea.
Related: Bithumb’s largest shareholder executive found dead following allegations of embezzlement
Bithumb is currently the second-largest crypto exchange in South Korea by daily trading volume, a distant second to Upbit. In July, Upbit’s monthly trading volumes surpassed that of Coinbase and Binance for the first time.
Both Upbit and Bithumb became the subjects of unwanted attention in May when South Korean authorities raided their offices over allegedly fraudulent crypto trading on behalf of a local lawmaker.
In February, Kang Jong-hyun, one of Bithumb’s largest shareholders — and suspected “real owner” — was arrested on embezzlement charges following a lengthy police investigation into his allegedly illicit behavior.
41-year-old Jong-hyun is the elder brother of Kang Ji-yeon, the head of Bithumb affiliate Inbiogen. The firm holds the largest share in Vidente, the biggest Bithumb shareholder, with a 34.2% stake.
Bithumb was founded in 2014 and, at the time of publication, had a 24-hour trading volume of roughly $580 million, according to CoinGecko data.
Magazine: Exclusive — 2 years after John McAfee’s death, widow Janice is broke and needs answers