January 10th is still an important window period for spot ETFs. January 10th is still an important window period for spot ETFs. On Thursday, Chicago Mercantile Exchange (CME) futures prices rebounded to 44854, ahead of traditional platform spot platforms. American lawyer MetaLawMan believes that if the US SEC rejects spot ETFs, it may be sued by many companies. Refer to the previous SEC precedent of losing a lawsuit against Grayscale.
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The European Banking Authority (EBA) will take additional steps to predict how stress on non-bank financial institutions (NBFIs), including cryptocurrency-related entities, will affect lenders. Non-bank financial institutions hold approximately $219 trillion, accounting for almost half of global financial assets. The EBA has already taken some actions to deal with the pressure that cryptocurrencies can put on the system. The International Swaps and Derivatives Association (ISDA) has updated an addendum to its master derivatives protocol to support the use of tokenized collateral. Due to the sheer size of the derivatives market, this step is very important for the adoption of tokenization. Typically derivatives agreements require both parties to post a margin, which may change over time. ISDA adds provisions to support DLT-based cash and DLT securities. U.S. Representative Phil Christofaneli of Missouri proposed a pro-cryptocurrency bill, the "Digital Bill of Rights," to ensure that individuals have the right to keep their own BTC and exempt BTC transactions under $200 from capital gains tax. CoinShares said digital asset investment products saw a net inflow of $243 million last week, bringing total fund flows in 2023 to $2.2 billion. The transaction volume on the stablecoin chain rose to US$608 billion in December, an increase of approximately 1.9%; the supply of issued stablecoins increased by 0.57% to US$120.8 billion. Ali: In the past 10 days, miners sold approximately 4,000 BTC worth $176 million. Sun Yuchen said that he will continue to pay attention to areas such as NFT, games and memes.
Blockworks: The U.S. government’s current holdings of BTC are worth at least $8.3 billion, up from $5 billion less than three months ago. OKLink data shows that on January 3, a whale address transferred 282 million stablecoins to multiple centralized platforms. Since October 20, this address has transferred more than 2 billion stablecoins to the centralized platform. Pando Finance CEO Junfei Ren: There is a 98% chance that the US SEC will approve a spot BTC ETF before January 10th. Recent developments support this. Even during the busy holiday period, the SEC has been working with potential issuances. meet with issuers to iron out final details, structure creation and redemption procedures, and guide issuers in incorporating the latest changes into their revised S-1 filings. Hassan Ahmed, head of Coinbase Singapore: The spot BTC ETF has not been over-hyped, and its approval will be a catalyst for "structural market changes" in the flagship digital asset. The ETF will create a regulated path for trillions of dollars to enter the crypto industry. The industry has so far been "excluded from the asset class". Yesterday's big spot spot ETF made an own prediction. Today, many institutions continue to believe that the U.S. Securities and Exchange Commission (SEC) will pass the BTC spot ETF as scheduled. ETF analyst Eric Balchunas said that if the SEC intends to continue to delay or reject BTC spot ETF applications, it will not hold meetings with major exchanges (Nasdaq, Chicago Board Options Trading Platform, New York Stock Exchange) to determine the impact of BTC spot Comments on 196-4s filed by ETF issuers.
Fox News said: Full-time lawyers from the U.S. SEC’s Trading and Markets Department held a meeting with the exchange on ETFs on Wednesday local time. Sources close to the approval process said the SEC could begin sending approval notices to issuers on Friday, with trading starting as early as next week. Analyst James Seyffart believes that January 8 to January 10 is still the ETF approval window he is concerned about. The minutes of the Federal Reserve meeting released yesterday showed that almost all participants said that it would be appropriate to lower the federal funds rate by the end of 2024; participants discussed when to change the balance sheet (the pace of reduction). Stopping balance sheet shrinkage is also on the table. Standard Chartered Wealth Management said: The Federal Reserve’s policy stance has shifted from fighting inflation to supporting growth. It predicts that it may cut interest rates by 125 basis points this year, and the U.S. 10-year Treasury bond yield will fall to 3.25% to 3.5%. Morgan Asset Management: Further cooling of inflation and the start of a downward interest rate cycle are this year's investment themes. The stock has been upgraded to "slightly overweighted" and it is expected that the S&P 500 index may test 5,000 points (historical high of 4818). Powell's two starting points for cutting interest rates are: one is to cut interest rates because the economy is returning to normal (inflation falls), and the other is to cut interest rates due to an economic recession. U.S. stocks reversed their early-year decline, with the Dow rising 0.5% and the S&P 500 and Nasdaq opening flat. Powell will not refuse to cut interest rates, and the U.S. Securities and Exchange Commission will most likely not reject BTC spot ETFs. U.S. lawyers said that if the U.S. SEC rejects spot ETFs, it will be sued by multiple companies, referring to the precedent of losing the lawsuit to Grayscale. Returning to the previous bull market cycle, as long as the source of the river is opened and water is released, no matter who throws stones into the river and how big the hole is, the river will return to its original state and the tide will rise again. No matter 3.12 or 5.19, the bull market has always been like this, just adapt to it. Powell opened the floodgates in 2020 and will open them again in 2024. #etf #BTC
