1. The London Stock Exchange will accept listing applications for crypto ETNs from April 8, 2024
The London Stock Exchange has announced that it will accept listing applications for Bitcoin and Ethereum crypto ETNs from April 8, 2024. The first cryptocurrency ETNs will begin trading on May 28, 2024, subject to approval from the Financial Conduct Authority (FCA).
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2. Bitcoin spot ETF had a total net inflow of US$15.7 million yesterday, breaking the five-day net outflow trend.
Yesterday, the Grayscale ETF GBTC had a single-day net outflow of US$350 million. The current historical net outflow of GBTC is US$14.15 billion. The Bitcoin spot ETF with the largest single-day net inflow yesterday was Fidelity ETF FBTC, with a single-day net inflow of approximately US$261 million. The current total historical net inflow of FBTC reaches US$7.21 billion. Followed by BlackRock ETF IBIT, the single-day net inflow was approximately US$35.48 million, and the current total historical net inflow of IBIT reached US$13.38 billion. As of press time, the total net asset value of the Bitcoin spot ETF is US$58.34 billion, the ETF net asset ratio (market value as a proportion of the total market value of Bitcoin) reaches 4.18%, and the historical cumulative net inflow has reached US$11.28 billion.
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3. FTX to sell majority of its stake in Anthropic for $884 million
FTX has struck an $884 million deal with more than two dozen buyers, including investors in Abu Dhabi, the United Arab Emirates, to sell a majority stake in Anthropic, a major artificial intelligence startup. FTX invested $500 million in Anthropic in 2021 and currently holds a 7.84% stake in the company.
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4.Coinbase report: The recent selling pressure on GBTC may stem from Genesis’ liquidation of bankrupt assets
The cryptocurrency market has recently focused more on the flow of funds into spot Bitcoin ETFs rather than fundamentals. After two months of net capital inflows, spot Bitcoin ETFs recorded net outflows for the first time, with net outflows reaching $836 million between March 18 and March 21. In particular, Grayscale Bitcoin Trust (GBTC)’s total outflows in four days were as high as $1.83 billion. The reason for this is not clear to the market, but analysis points out that it may be related to the liquidation of bankruptcy assets by Genesis Global, involving the sale of approximately 35.9 million GBTC shares. Coinbase said that while it could not be determined that the net outflow of GBTC was directly related to these sales, its size and scope were consistent with recent developments in Genesis’ payment obligations.
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5. SEC has asked a judge to fine Ripple Labs $2 billion
The documents, which will be made public on Tuesday, are part of Ripple's years-long case with the SEC. Ripple’s response is due to be filed next month, but as seen previously, the statements issued by the SEC are false, mischaracterized, and intended to mislead. Instead of faithfully enforcing the law, the SEC is bent on punishing and intimidating Ripple and the entire industry.
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6.Tether: Expand strategic focus to the field of AI
Tether announced that it will expand its strategic focus to the field of artificial intelligence. First, Tether data plans to take the lead in developing open source, multi-modal artificial intelligence models, seamlessly integrate artificial intelligence solutions into market-driven products, and is committed to promoting the development of the open artificial intelligence field. In addition, Tether data also announced the recruitment of AI-related talents globally.
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