Grayscale's share has dropped to about 80%, and the remaining ETFs have inflows of 100,000. The total net asset value of US spot BTC ETFs is US$25.17 billion, and Grayscale's share has dropped to about 80%. Nine new US spot BTC ETFs (excluding Grayscale GBTC) currently manage more than 100,000 BTC. Among them, BlackRock IBIT leads with 44,005 BTC holdings, followed by Fidelity FBTC, which holds 38,149 BTC.

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Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission (SEC), said that the SEC will not repeat the delay on the ETH ETF. We should not wait until the court to accuse us of being "arbitrary and capricious". The SEC should be able to make the right decision. The Hong Kong Securities and Exchange Commission released the "Strategic Priorities for 2024-2026". In terms of virtual assets, the Hong Kong Securities and Exchange Commission will provide regulatory guidance on new virtual asset activities and promote the development of the regulatory system for virtual asset trading platforms. While supporting the tokenization of traditional products, it protects the interests of investors and uses blockchain and Web3 basic technologies to promote the establishment of a responsible and secure financial technology ecosystem. ARKInvest purchased $14.5 million of ARK21Shares BTC ETF on January 23. Grayscale GBTC NAV (net asset value) exceeded BlackRock for the first time, and the GBTC net asset value discount narrowed to -0.27%, while BlackRock's ETF traded at a discount of -0.3% for the first time. Celsius, which is on the verge of bankruptcy and liquidation, sent 18,000 ETH to Coinbase, worth $39.34 million. Celsius associated addresses released 202,090 ETH pledges (worth $446 million) yesterday. Roger Bavston, head of digital assets at Franklin Templeton, said that despite a slow start, its spot BTC ETF will gain traction as financial advisors become more familiar with the product, and Franklin Templeton will become the "preferred digital asset provider" as the investment community becomes more diversified.

Deutsche Bank analysts said that nearly $4 billion of funds flowed into new spot BTC ETFs, especially those operated by BlackRock and Fidelity. Another factor in the decline of BTC is the sale of assets by the bankrupt FTX platform. BitMEX CEO Arthur Hayes believes that the BTC support range is between $30,000 and $35,000. The Mt.Gox trustee has contacted creditors to confirm their account details and prepare to repay their claims. One creditor in Poland and one in Japan reported that they had received repayments. They said that 80% of the claims were returned in US dollars via bank transfers. On January 23, the spot BTC ETF had a net outflow of $105 million, the Grayscale ETF had an outflow of $515 million, and other ETFs had a total inflow of $410 million. BlackRock IBIT had a net inflow of $160 million in a single day, and Fidelity FBTC had a net inflow of $157 million in a single day. On January 24, when the U.S. stock market opened, Grayscale sent 19,236 BTC to Coinbase, worth $769 million. Bloomberg analyst James Seyffart said that GBTC has lost 13% of its outstanding shares and the expected loss is between 20-35%. Jurrien Timmer, director of Fidelity Global Macro, said: "BTC's price has returned to what I think is a fair value range. The slope of the curve is based on the Internet adoption curve, and the width is based on the actual fee rate range of -2% (top $78,337) and +2.5% (bottom $39,025). "

The total net asset value of US spot BTC ETFs is US$25.17 billion, and Grayscale's share has dropped to about 80%. Nate Geraci, president of consulting firm ETF Store, said: If the price is right, the strategic acquisition of Grayscale is of great significance to traditional ETF issuers. The BTC ETF track is highly competitive and has become a scale game. By acquiring crypto-native companies to quickly increase assets under management, crypto credibility can be obtained. Some experts say that if newcomers want to participate in the crypto market, they can consider acquiring established companies in the BTC investment field, such as Grayscale. The asset size of new ETFs has grown rapidly, and the share has risen to about 20%. Nine US spot BTC ETFs (excluding Grayscale GBTC) currently manage more than 100,000 BTC. In the field of BTC spot ETFs, the new king is accelerating to replace the old king. Grayscale bought BTC in 2020 to drive the bull market. In February 2021, Grayscale GBTC had a negative premium for the first time and terminated BTC purchases (BTC fell 23% at the time, and then experienced a 6-month GBTC unlocking path), but failed to prevent the bull market in 2021. The impact of GBTC conversion to spot ETF in 2024 will be greater than that in 2021, but the result is expected to be the same as then, which will cause a short-term price drop and fail to change the trend bull market. Former Fed member Bullard said that the Fed is expected to start cutting interest rates before inflation reaches 2%, possibly as early as March. If the inflation rate is between 2% and 2.5%, but the Fed has not adjusted the policy rate, then they may have to act aggressively and cut interest rates by 50 basis points at a meeting. When U.S. stocks opened on Wednesday night, spot ETFs such as BlackRock and Fidelity rose nearly 2.5%, and the CME BTC futures price was $40,500, slightly higher than the spot price of $40,000 on traditional platforms. Continue to wait for Grayscale to be exhausted and other spot ETFs to really work. #BTC