- Bitcoin once exceeded US$35,000, and ETF and GBTC made significant progress (October 24)
headlines
BTC briefly exceeded 35,000 USDT, with a 24-hour increase of 11.58%
Ouyi OKX market shows that BTC broke through 35,000 USDT in a short period of time, reaching a maximum of 35,919 USDT, with a maximum intraday increase of 20%. It is currently trading at 33432 USDT, with a 24-hour increase of 11.58%.
BlackRock S-1 Amendment: Obtained CUSIP Number, Preparing for BTC Spot ETF Seed Capital
After researching the S-1 amendment filed by BlackRock, U.S. financial lawyer Scott Johnsson discovered that BlackRock had obtained a CUSIP number in preparation for the launch of a Bitcoin spot ETF.
CUSIP stands for Committee on Uniform Securities Identification Procedures. This number is also used as the U.S. Securities Uniform Identification Code.
BlackRock is preparing Seed Capital for a Bitcoin spot ETF, documents show. Seed Capital is the underlying asset purchased by the issuing company itself when a new ETF is launched to meet future demand for the product.
Specifically, whenever a new ETF is launched, the ETF must have at least 100, 000 shares outstanding. Therefore, ETFs typically have at least $1 million in Seed Capital and often more than $2.5 million.
BlackRock iShares Bitcoin Trust is listed on DTCC under the symbol IBTC
BlackRock iShares Bitcoin Trust is listed on the DTCC under the symbol IBTC.
DTCC (Depository Trust Clearing Corporation) is an American financial services company founded in 1999. The company consists of five clearing companies and a depository institution to provide clearing and settlement services for the financial market.
It should be noted that this move does not mean that the ETF has been approved by the SEC.
Bloomberg ETF analyst Eric Balchunas said: BlackRock has either received the green light or is just predicting and preparing for everything. We still believe that multiple ETFs will be launched together, rather than BlackRock alone being approved first.
U.S. Washington court rules in favor of Grayscale against SEC over GBTC conversion
The U.S. Court of Appeals for the D.C. Circuit officially ruled on Grayscale’s lawsuit against the SEC, which requires the SEC to reconsider its application to convert Grayscale GBTC into a Bitcoin spot ETF. The SEC now has the option of approving Grayscales application or denying it on other grounds. Grayscale spokesperson Jennifer Rosenthal issued a statement after the case closed on Monday: The Grayscale team looks forward to continuing to work constructively with the SEC on the conversion of GBTC to an ETF. GBTC is operationally ready and plans to take action on behalf of investors as soon as possible.
SEC has recognized Grayscale’s spot Ethereum ETF filing
Nate Geraci, president of The ETF Store, posted on the X platform that the U.S. Securities and Exchange Commission (SEC) has recognized Grayscale’s spot Ethereum ETF filing, which will be the process of converting ETHE into an ETF.
Market changes
PEPE rose 34.5% in 24 hours, breaking through 0.000001 USDT
Ouyi OKX market shows that PEPE has increased by 34.5% in 24 hours, and the current price is 0.000001005 USDT.
BLZ rose more than 30% in 24 hours, breaking through 0.25 USDT
The market situation shows that BLZ broke through 0.25 USDT and is now 0.2452 USDT, a 24-hour increase of 30.89%.
According to Lookonchain monitoring, 6 whale addresses have accumulated a total of 42,391 ETH ($71 million) in the past three days.
A top 50 holder withdrew 500,000 WLD from Binance and still holds 8.34 million WLD
A certain whale (address starting with 0x bd 8) once again withdrew 500,000 WLD ($820,000) from Binance. The whale currently holds 8.34 million WLD ($13.02 million) and is one of the top 50 holders.
Additionally, new wallet addresses have seen strong purchasing volume over the past 14 days.
Industry News
MicroStrategy’s Bitcoin holdings have gained approximately $556 million
According to previously publicly disclosed information, MicroStrategy purchased a total of 158,245 Bitcoins at a price of approximately US$4.68 billion, with an average holding price of US$29,582.
Based on the current Bitcoin price of $33,095, MicroStrategy’s Bitcoin holdings have gained approximately $556 million.
Project News
UniSat Wallet: brc 20-swap mainnet launch postponed to October 31
UniSat Wallet posted on the X platform that in order to gain more testing time, it decided to postpone the launch of the brc 20-swap mainnet to October 31.
Additionally, there may be further updates to the indexer later this week in response to calls from Ordinal developers.
NFT platform Async Art announced on the X platform that it will end operations in the next few months. Async NFTs are all stored on IPFS and will continue to exist on the chain.
Async.Market will no longer support purchases by the end of 2023, and Async.art will no longer accept new submissions starting today.
According to news in February 2021, Async Art announced that it has received more than US$2 million in seed round financing, with participating investors including Lemniscap, Galaxy Interactive, Signum Growth Capital, Semantic, Blue Wire Capital, Collab+Currency, Inflection, Divergence Ventures, and the LAO and Placeholder.
Programmable privacy network Aleo recently stated that it is in the final stages of launching its testnet and expects the mainnet to be launched by the end of 2023. Once the mainnet goes live, Aleo Systems will relinquish all control of the Aleo network, which will operate independently of its founding company, similar to other decentralized systems such as Ethereum (which would continue to exist even without the Ethereum Foundation).
Founding companies will then turn to opportunities to build in zero-knowledge application areas. This means that participants in the Aleo network are participants in the open source ecosystem, rather than participants in a managed or curated ecosystem with any special role within the company.
The governance page shows that BenAffleck of SSV DAO launched the Incentivized Mainnet Program proposal. The proposal proposes to create an incentive layer for the running SSV mainnet to drive the adoption of DVT and the growth of the SSV Network by rewarding participants for running on the SSV Network during the upcoming year.
The program involves builders, protocols and regular validators operating using SSV and will run for 12 monthly rounds (October 1, 2023 to September 30, 2024); there are 5 different reward levels for qualified validators The quantity limit is 30,000.
In addition, if the proposal is approved, the DAO Multi-Sig Committee will initially mint 200,000 SSV into the new multi-signature wallet; no more than 1 million SSV will be minted during the incentivized mainnet plan.
Makerburn data shows that MakerDAO added US$130 million in RWA assets this month, bringing the total protocol RWA assets to US$3.32 billion. The new assets are concentrated in BlockTower and New Silver.
Investment and Financing
Web3 security startup Blockaid raises $33 million, with participation from Sequoia Capital
Blockaid, a Web3 security startup co-founded by two former Israeli military cyber intelligence officers, has raised $33 million in funding. The funding was divided into two rounds, a $6 million seed round and a $27 million Series A round.
Seed round investors include Sequoia Capital, Greylock Partners and Cyberstarts; Series A financing was co-led by Ribbit Capital and Variant, with participation from three investors in the seed round.
Blockaid was founded in September 2022 by Ben-Natan and his former colleague Raz Niv. The pair previously worked on the cybersecurity research and development team at Unit 8200, the Israeli military’s cyber intelligence unit, and in the Israeli Prime Minister’s Office.
Ben-Natan said that to date, Blockaid has scanned more than 450 million transactions, blocked more than 1.3 million attacks, protected assets worth more than $7.1 billion, and prevented more than $500 million in losses.
Yearn Finance modifies token economics and adds Vote Escrow mechanism
Yearn Finance modifies token economics and adds a Vote Escrow mechanism. Stakeholders can lock up for up to 4 years to convert it into non-transferable veYFI tokens to earn YFI rewards, which are issued in the form of dYFI and can be redeemed for YFI tokens at a discount.
The longer the lock-up period, the higher the reward. Users have the flexibility to exit their positions before the end of the lock-up period, but they will face a penalty of up to 75% of their rewards. (The Defiant)
