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VanEck files fifth amendment for spot Bitcoin ETF under ‘HODL’

Analysts on the X platform, formerly known as Twitter, say ticker code could help avoid negative attention on adviser statements.

Asset manager VanEck filed a fifth amended application for a spot Bitcoin exchange-traded fund (ETF) on Dec. 8.

According to the regulator’s database, the amended filing to the S-1 Form with the U.S. Securities and Exchange Commission (SEC) highlights updates to the VanEck Bitcoin Trust, a spot Bitcoin exchange-traded fund. A spot Bitcoin ETF is an investment vehicle that lets people buy shares in a fund that tracks the price of Bitcoin.

The VanEck ETF is now expected to be listed under “HODL", which is either a misspelling of “hold” or an acronym for “hold on for dear life.” Bitcoiners use the phrase to describe a strategy of buying and never selling the digital asset. 

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Massive Uptick in Exchange Volumes Could Suggest Growing Institutional Demand Ahead of ETF Approval: Glassnode

Massive Uptick in Exchange Volumes Could Suggest Growing Institutional Demand Ahead of ETF Approval: Glassnode

A massive surge in crypto exchange flows suggests institutions could be preparing for the potential approval of spot market Bitcoin (BTC) exchange-traded funds (ETFs), according to the market intelligence firm Glassnode. Glassnode notes in a new analysis report that the 30-day simple moving average (SMA) of Bitcoin flows in and out of exchanges grew from […]

The post Massive Uptick in Exchange Volumes Could Suggest Growing Institutional Demand Ahead of ETF Approval: Glassnode appeared first on The Daily Hodl.

Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

Bitcoin options data shows whales betting big — Will $50K BTC come in January?

Institutional investor interest soars as Bitcoin options open interest hits record high.

Bitcoin (BTC) options open interest reached an unprecedented milestone, surging to a staggering $20.5 billion on Dec. 7. This remarkable achievement signifies the active involvement of institutional investors in the cryptocurrency space. Unlike futures contracts, BTC options come with predetermined expiration prices, offering valuable insights into traders’ expectations and the markets’ sentiment.

At the forefront of the Bitcoin options market stands Deribit, boasting an impressive 90% market share. The exchange currently holds a substantial $2.05 billion open interest for options expiring on Jan. 26. However, it's worth noting that a significant portion of these bets may lose their value as the deadline approaches.

Nonetheless, with the prospect of a spot exchange-traded fund (ETF) gaining regulatory approval, previously sidelined bullish bets are reentering the playing field.

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Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

SEC discussing ‘key technical details’ with spot crypto ETF applicants: Report

In November, the commission separately met with representatives of BlackRock and Grayscale to discuss their spot crypto exchange-traded funds.

Officials with the United States Securities and Exchange Commission are reportedly discussing aspects of Bitcoin (BTC) exchange-traded funds, or ETFs, proposed by asset managers.

According to a Dec. 7 Reuters report, industry insiders said the SEC and certain asset managers were discussing “key technical details” related to U.S. exchanges listing shares of a spot Bitcoin ETF. To date, the commission has never given the green light to any spot cryptocurrency exchange-traded product, instead postponing decisions on applications for the maximum allowable time.

Memos released by the SEC in November showed the commission separately met with representatives of BlackRock and Grayscale. Both asset managers and Hashdex, ARK 21Shares, Invesco Galaxy, VanEck and Fidelity have filed for spot BTC or Ether (ETH) ETF listings.

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Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

Venture Capitalist Issues BTC Alert, Says Spot Bitcoin ETF Approval Is an Event To Fade – Here’s Why

Venture Capitalist Issues BTC Alert, Says Spot Bitcoin ETF Approval Is an Event To Fade – Here’s Why

A prominent digital asset venture capitalist believes that approval of a spot market Bitcoin (BTC) exchange-traded fund (ETF) could cause the king crypto to dip. Chris Burniske, the founder of Placeholder Capital, tells his 268,800 followers on the social media platform X that the current run up in Bitcoin’s price may indicate holders will take […]

The post Venture Capitalist Issues BTC Alert, Says Spot Bitcoin ETF Approval Is an Event To Fade – Here’s Why appeared first on The Daily Hodl.

Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

Robinhood CEO Says Potential Fed Rate Cuts and Two Additional Catalysts Boosting Crypto Optimisim

Robinhood CEO Says Potential Fed Rate Cuts and Two Additional Catalysts Boosting Crypto Optimisim

Robinhood CEO and co-founder Vlad Tenev says that potential rate cuts by the Federal Reserve and two other things are sparking optimism in the crypto space. In a new interview on CNBC Squawk Box, Tenev says that the expected launch of spot market Bitcoin (BTC) exchange-traded funds (ETFs) and the increasing need for an inflation […]

The post Robinhood CEO Says Potential Fed Rate Cuts and Two Additional Catalysts Boosting Crypto Optimisim appeared first on The Daily Hodl.

Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

Elon Musk’s xAI files with SEC for private sale of $1B in unregistered securities

"Spicy" AI chatbot Grok hasn’t been seen by the public yet, but it’ll be worth plenty after this securities issue.

Elon Musk’s X-linked AI modeler xAI has an agreement for the private sale of $865.3 million in unregistered equity securities, according to a filing with the United States Securities and Exchange Commission (SEC) made on Dec.

xAI filed the SEC’s Form D to allow it to engage in the private sale of securities without registration.

Access to Grok is currently severely limited. Source: x.ai

The xAI Form D further clarifies that the securities will be sold to accredited investors with restrictions on their resale under Rule 506(b).

Related: Elon Musk AI project-inspired memecoin ‘Grok’ falls 74% on creator scam claim

XAI’s product, a chatbot called Grok, has not yet made its public debut, although there is a waitlist to use the prototype.

“A unique and fundamental advantage of Grok is that it has real-time knowledge of the world via the X [formerly Twitter] platform. It will also answer spicy questions that are rejected by most other AI systems.”

Musk announced the launch of xAI in July and claimed its goal was to “understand the universe.” He claimed Grok would perform better than ChatGPT and in November got into an online squabble over it with ChatGPT co-founder and CEO at the time Sam Altman.

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Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

Jury in Terraform Labs case shouldn’t decide whether crypto is a security — SEC

According to the SEC, tokens at issue in its civil case against Terraform Labs should be a “legal question” for a court, “not a factual question for the jury.”

Lawyers representing the United States Securities and Exchange Commission (SEC) requested the judge in its civil case against Terraform Labs and co-founder Do Kwon determine whether certain crypto assets are securities rather than a jury.

In a Dec. District Court for the Southern District of New York, the SEC argued that the matter of cryptocurrencies as securities under the commission’s guidelines was a “legal question to be determined [by] the Court, not a factual question for the jury.” According to the SEC, sending the question of whether certain cryptocurrencies in the Terraform Labs case qualified as securities under the Howey test — the commission’s standard for determining what is a security — opened the matter up for discussion.

“[T]here is no genuine dispute of material fact that Defendants’ crypto asset offerings involved an investment of money, in a common enterprise, with an expectation of profit to be derived from Defendants’ efforts,” said the SEC.

Source: Courtlistener

Related: SEC faces sanctions threat as Judge questions DEBT Box case accuracy

The SEC has taken it upon itself to label different cryptocurrencies as securities in various lawsuits, including enforcement actions against Binance and Coinbase. In the commission’s case against Ripple, a federal judge ruled in July that the XRP token did not necessarily qualify as a security, potentially leading to the SEC dropping charges against CEO Brad Garlinghouse and executive chair Chris Larsen.

The question of which cryptocurrencies qualify as securities or commodities in the United States has been an ongoing debate among lawmakers and regulators, as is the role the SEC should play in regulating digital assets. Many experts are also speculating the SEC may soon decide on whether to approve a spot crypto exchange-traded product for the first time.

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Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

BlackRock received $100K seed funds for Bitcoin ETF — SEC filing

BlackRock and other financial giants have entered the race to launch the first spot Bitcoin ETF in the United States.

The world’s largest asset manager, BlackRock, received $100,000 in seed funding from an unknown investor for its spot Bitcoin (BTC) exchange-traded fund (ETF) in October 2023, according to its latest United States Securities and Exchange Commission (SEC) filing.

The SEC filing revealed that the investor agreed to purchase 4,000 shares for $100,000 on Oct.

The latest filing by BlackRock also revealed certain details on the asset manager’s plans to pay the sponsor’s fee, where it plans to borrow Bitcoin or cash as trade credit from the trade credit lender on a short-term basis.

Related: ‘Buy the rumor, sell the news’ — Bitcoin ETF may spark TradFi sell-off

The settlement of trade credits will occur on the business day following the execution date, attracting a financing fee of 11% plus the federal funds target rate divided by 365 ((11% + fed funds target)/365).

ETF analyst Eric Balchunas called the new revelations an interesting development in the nerdiest way.

BlackRock was among the first institutional giants to file for a spot Bitcoin ETF in July.

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Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data

Tax services are getting pushy to have crypto declared: Law Decoded, Nov. 27–Dec. 4

Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared.

Last week, His Majesty’s Revenue and Customs (HMRC) presented an unpleasant Christmas surprise to hodlers in the United Kingdom, demanding they declare any crypto holdings they failed to report in the last four, six or even 20 years. The disclosure must include “exchange tokens,” such as Bitcoin (BTC), as well as any nonfungible tokens (NFTs) and “utility tokens.”

Less harsh in its demands, the Spanish Tax Administration Agency has also reminded its citizens about their obligations to declare crypto, even if they store it abroad.

Brazil will also proceed to tax its citizens’ foreign crypto holdings via a bill already passed in the Chamber of Deputies and expected to be approved by President Luiz Inácio Lula da Silva. The change makes those funds taxable at the same rate as domestic funds.

The SEC is still digging into Binance.US

The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets similarly to FTX. Anti-Money Laundering laws as part of a $4.3 billion settlement with the U.S.

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Lucky Trader Nets 6,102% Profit in Series of Trades on Explosive New Dogecoin and Shiba Inu Rival: On-Chain Data