headlines
Bloomberg ETF analyst James Seyffart posted on the If approved, we will enter a window period during which all current applications may be approved.”
Seyffart also said the SEC issued delay orders to BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity and Valkyrie simultaneously. If the SEC intends to approve all 12 spot Bitcoin ETF applications this year, it has only one final short window left. The window ends on November 17th. But in theory, the SEC could make a decision on the first nine on the list any time between now and January 10, 2024.
The U.S. Securities and Exchange Commission (SEC) has opened conversations with Grayscale Investments over the details of its application to convert trust product GBTC into an ETF, which could have a significant impact on the crypto industry, according to a person familiar with the parties’ dealings.
The industry is eagerly anticipating the SECs approval of one or more ETF applications, arguing that this moment could simplify everyday investors path into digital assets. Since winning the court battle, Grayscale has been in contact with the SECs Division of Trading and Markets and the Division of Corporate Finance, and the conversations remain private, said the person, who requested anonymity.
Industry news
Ark Invest partners with 21 Shares to launch new range of digital asset ETFs
Ark Invest is preparing to launch a new range of ETF products with 21 Shares, which it says will provide investors with “a robust range of options for introducing digital assets into their portfolios.”
“Utilizing on-chain signals and our crypto-native experience, this range of products is designed to achieve long-term capital appreciation through strategic investments in Bitcoin and Ethereum futures contracts and the application of blockchain technology,” 21 Shares said.
According to the prospectus, these ETF products will be listed on the Chicago Board Options Exchange (Cboe). A total of five products will start trading next week. (The Block)
The Central Bank of the United Arab Emirates (CBUAE), in conjunction with other regulators in the country, recently issued new guidelines for virtual asset service providers (VASPs) operating in the country, which include penalties for VASPs operating without appropriate licenses in the jurisdiction.
Under the new guidance, the supervisory authority expects all licensed financial institutions (LFIs), designated non-financial businesses and industries (DNFBPs) and licensed VASPs to report transactions by suspicious parties. The central bank also noted that VASPs operating in the UAE without a valid license will be subject to civil and criminal penalties, including but not limited to financial sanctions against the entity, owners and senior managers.
HSBC will work with Metaco, a technology company owned by Ripple Labs, to provide digital asset custody services such as tokenized securities to institutional clients, with the service expected to be launched in 2024.
The service will complement HSBC Orion, HSBC’s digital asset issuance platform, as well as the bank’s tokenized gold issuance system launched last week. (Bloomberg)
Previously, in May, Ripple spent $250 million to acquire Metaco, a Swiss-based cryptocurrency custody company. The acquisition will allow Ripple to expand its offerings by integrating its technology into the custody, issuance and settlement of tokenized assets.
Binance officially launches Binance Web3 Wallet, aiming to become a Web3 portal
On November 8, Binance officially launched Binance Web3 Wallet at Binance Blockchain Week in Istanbul. According to Richard Teng, Binance’s regional market leader outside the United States, the new product is easy to operate, convenient, and secure, and aims to become a Web3 portal.
Swiss crypto bank SEBA Bank has been granted a license by the Hong Kong Securities and Futures Commission to allow its subsidiary to operate crypto-related services locally.
The license allows SEBA Hong Kong to trade and distribute all securities, including virtual asset-related products such as over-the-counter derivatives and structured products underlying virtual assets, SEBA said in a statement today.
The bank is also permitted to provide advice on securities and virtual assets and conduct asset management of discretionary accounts of traditional securities and virtual assets.
SEBA Bank opened a new office in Hong Kong last November. The bank currently operates global operations in Switzerland, Abu Dhabi and Hong Kong.
Project News
ZachXBT says CoinSpot wallet lost approximately $2 million in cryptocurrency in possible hack
On-chain crypto sleuth ZachXBT posted on his Telegram channel that funds from two wallets associated with Australian cryptocurrency exchange CoinSpot may have been diverted by hackers, resulting in the loss of approximately $2 million in funds.
ZachXBT pointed to two transactions as evidence. In one of the transactions, 1,262 ETH was transferred from CoinSpot’s wallet to a putative attacker address; in another transaction, 20.99 ETH was sent to the same address. According to data from Etherscan, people who received these coins then exchanged them for WBTC, USDC, and USDT via Uniswap, THORchain, and WBTC smart contracts.
CoinSpot was founded in 2014, according to Crunchbase. So far, there have been no reports of a large-scale hack on the exchange. However, in December 2021, its users were targeted with phishing attacks.
Yuga Labs co-founder Aronow spent more than $1.5 million buying NFTs
Yuga Labs co-founder Wylie Aronow, real name Gordon Goner, has spent more than $1.5 million on NFTs on iconic collectibles like CryptoPunks, Doodles and more.
After teasing his intention to purchase NFTs outside of the Yuga Labs-created Bored Ape Yacht Club collection on Monday to X, Aronow has gone on his biggest shopping spree since the last bull run. Starting with Mondays purchase of a rare CryptoPunk for 600 ETH ($1.14 million), Aronow has spent more than $1.5 million in total, according to The Block Research.
Aronow purchased a dozen new tokens, mostly well-known collectibles outside of the Yuga Labs universe, including NFTs from Doodles, Meebits, Pudgy Penguins, and works by renowned digital artist Beeple.
Shardeum, a Layer 1 blockchain project, released a white paper on the
The white paper emphasizes that Shardeum’s token (SHM) is designed to be a deflationary asset with a fixed maximum supply, which will not exceed 508 million in total and will not change due to any form of future voting. Network participants can stake their SHM, increasing the overall security of the network and earning rewards for active participation. SHM is a Gas token that allows network users to pay for the computation required to perform it.
Near Foundation launches Near DA to provide data availability for Ethereum rollups
The Near Foundation launches Near DA to provide data availability for Ethereum Rollups, which aims to provide an alternative product that can process large amounts of data generated by Ethereum, auxiliary chains, or L2. Initial users of Near DA include Starknet’s Madara, Caldera and Movement Labs.
Stackr, an Ethereum expansion startup project, announced the completion of a US$5.5 million seed round of financing, led by Archetype, with participation from a16z Crypto Startup School, Lemniscap, Scalar Capital and others. Angel investors include Sreeram Kanan from EigenLayer, Mustafa Al-Bassam from Celestia Labs and Andrew Keys from Darma Capital.
Stackr is developing Ethereum scaling infrastructure with a focus on micro-rollups, or DApp-specific rollups, designed to help developers launch scalable Web3 applications using Web2 programming languages. Stackr says its modular framework will allow developers to focus solely on the specific logic of their applications while managing the underlying rollups infrastructure.
Federico Carrone, founder of LambdaClass, posted on the A problem, especially for derivatives protocols. Very large arbitrage opportunities can arise during downtime. Every blockchain and project has bugs. Being open to feedback and accepting mistakes is critical to creating better technology. As always , we’re happy to help.”
Lido announces launch of wstETH on Base network
Lido announced the launch of wstETH on the Base network. KyberSwap, Beefy and Superbridge support wstETHs Base network cross-chain.
Gucci launches Gucci Cosmos Land experience at The Sandbox
According to official news, luxury brand Gucci has settled in The Sandbox and launched the Gucci Cosmos Land experience.
