Nasdaq Meets SEC to Discuss Spot Bitcoin ETFs
Members of the Nasdaq team spoke about a number of topics, including the long-awaited Spot Bitcoin exchange-traded fund, during a meeting with the Securities and Exchange Commission on Wednesday. Nasdaq, which submitted a Form 19b-4 for BlackRock’s iShares Bitcoin BTC Trust in the summer, will meet with agency staff, according to a person with knowledge of the situation. This is a fairly typical procedure when applying for a new product. It was stated at the meeting that there was no indication that the SEC would approve the spot Bitcoin ETF. The source could not provide an estimate of when the SEC will approve or reject a spot Bitcoin ETF.
Fidelity Bitcoin ETF Prepares to Trade on CBOE
According to a recent SEC filing, the Fidelity Wise Origin Bitcoin Fund has received permission to list on the CBOE market, albeit without formal approval from the SEC. Naturally, Fidelity will rely on the SEC to approve its request to sell the spot Bitcoin ETF to investors. As such, the SEC has one more week to accept, reject or postpone the decision.
In the Last Week of 2023, Inflows into Digital Asset Funds Continued
The last week of 2023 saw $243 million worth of inflows into digital asset funds, bringing total inflows in 2023 to $2.2 billion. When we analyze it on a coin basis, the highest inflow in 2023 was Bitcoin with 1.935 billion dollars. The second and third highest inflows were in Solana and Ethereum with $167 million and $78 million respectively. When we look at other altcoins, there was an inflow of 18 million dollars to Ripple, 69 million dollars to Cardano and 36 million dollars to Polkadot.
ENS Rises Strongly on Buterin’s Praise
Ethereum Name Service (ENS) has risen strongly after receiving praise from Ethereum co-founder Vitalik Buterin. In a post shared on January 3 on X, Buterin praised the Ethereum Name Service as ‘super important’. He reiterated that the platform must remain accessible and affordable for all users of the Ethereum network, especially those on layer-2 networks.
Etherscan Announces Acquisition of Solscan
Etherscan has announced the acquisition of Solscan, a leading block explorer for the Solana ecosystem, with the aim of ‘improving the accessibility of blockchain data across multiple networks’. Etherscan said in a statement that with the acquisition, the team plans to integrate useful features across both Etherscan and Solscan. “The Solscan team has proven their expertise by providing detailed insights and analytics over the years,” said Matthew Tan, CEO and founder of Etherscan.
FED Meeting Minutes Published
According to the minutes of the FOMC meeting held on December 12-13, Federal Reserve officials seemed convinced that inflation was under control and ‘upside risks’ had diminished, while almost all participants pointed to a lower target range for the interest rate until the end of 2024. However, the minutes gave no direct clues as to when rate cuts might start.
Goldman Sachs in Talks with Issuers for Bitcoin ETFs
Goldman Sachs is negotiating as an authorized participant for potential spot Bitcoin ETFs to be issued by BlackRock and Grayscale, CoinDesk reported. As a potential authorized participant, Goldman Sachs will be responsible for the creation and redemption of ETF shares. In addition, Goldman Sachs is listed as an ‘authorized purchaser’ in Hashdex’s S-1 filing, which Hashdex amended on December 22.
Bloomberg Analyst Estimates Bitcoin ETF Approval Chance at 90%
Bloomberg ETF Analyst Eric Balchunas suggested that the US Securities and Exchange Commission (SEC) is likely to approve spot Bitcoin ETFs. Balchunas noted that three of the five SEC commissioners supported the approval. In addition, Balchunas estimates a 90% chance of approval.
Bitcoin Call Options Focus on $50,000
According to data from the active options market, calls with Bitcoin’s $50,000 strike price and expiration date on January 26 make up the largest cluster of existing contracts. Deribit data shows that there are currently more than 8,300 contracts with a notional value of approximately $376 million pending for calls with a strike price of $50,000. A call option in options trading gives the holder the right, but not the obligation, to buy the underlying asset at a predetermined price on or before the expiry date. A significant number of traders may be taking trades that the Bitcoin price will rise above $50,000 by the end of January.
Ark Invest Sells $25 Million Worth of Coinbase Shares
Ark Invest sold an additional 166,183 shares of Coinbase Global Inc. worth $25.3 million on Wednesday as part of Coinbase’s ongoing selling spree. On Wednesday, ARK Next Generation Internet ETF sold 21,135 shares of the cryptocurrency exchange, while ARK Innovation ETF sold 145,048 shares of Coinbase, according to the company’s most recent trading report. This comes after the business recently sold Coinbase shares worth more than $200 million.
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BITCOIN(BTC)
Bitcoin is priced at $ 43,141 with a 0.71% gain in value as of today morning hours. After yesterday’s decline, pricing above $ 42,300 again is very positive. The upcoming ETF approval may have been preceded by a sell-off as the probability of approval increased. Although it seems to have received its reaction at $ 40,900, the $ 38,200 level can be seen in the continuation of the downward movement. In the continuation of the upward movement, the $ 44,300 level can be seen again.
ETHEREUM(ETH)
ETH, which gained 1.50% as of morning hours, is priced at $ 2242. With yesterday’s movement, there was a retreat to $ 2100. With the reaction it received from here, it is currently priced at $ 2240. If there is a downward pullback, the first support seems to be the $ 2100 region again. In the continuation of the upward movement, the first target should be to ensure persistence above $ 2396.
RIPPLE(XRP)
XRP is priced at $0.5824 with a 0.03% gain as of morning hours. Yesterday, it retreated to $0.50 with a decline and was able to rise 16% to these levels again. We have said before that $0.60 is critical. If this level turns into resistance, the decline may continue. If it breaks again and continues its upward movement, the 0.6462 level can be seen again.
AVALANCHE(AVAX)
AVAX is priced at $ 37.04 with a 0.68% gain in value as of morning hours. After a retreat to $ 33, it is priced at $ 37, exceeding $ 35 again. Although a break of $40 on volume has a negative impact, AVAX is still very strong. Breaks above $40 could push the price up to the $50 target. If the decline will continue, the next support seems to be $31.
SOLANA(SOL)
SOL is priced at $ 100.1 with a gain of 1.62% as of morning hours. When we examine the four-hour chart, we see that the rising trend support we followed with yesterday’s movement was broken downward and there was a sudden drop to the $ 85 level. The $105 level is an important resistance for SOL, which has risen to the $100 level again. If this resistance level is passed, a movement up to the level of 110 dollars can be seen. If the retreat continues, the $ 95 level can be followed as support.
CHAINLINK(LINK)
With a 1.78% gain in value as of morning hours, LINK is priced at $ 14,410. When we examine the daily chart, we see that there is a horizontal movement between the $ 13,300 and $ 17 levels. With the sudden movement yesterday, the $ 12,300 region was tested and then closed at $ 14 with the reaction that followed. If the upward movement continues, the $ 14,750 and $ 15 levels appear as important resistance zones. If both levels are crossed, the $16 level can be tested.
ID
ID is priced at $0.35750 with a 6.85% gain as of morning hours. When we examine the daily chart, we see that the resistance zone of 0.29730 was broken upwards and the rise continues with the confirmation movement. If this movement strengthens, first 0.38 and then 0.40 may be tested. In case of a pullback, the 0.34 level can be followed as support.
ENS
ENS is priced at $ 13.60 with a 6.75% gain as of morning hours. When we examine the daily chart, we see that the downtrend was broken upwards and then the uptrend was realized. In the last two days, there has been a 30% rise. If the upward movement continues, 14.75 can be followed as resistance. In case of a pullback, the 12.90 level can be followed as support.
