Hello there and welcome to another Coinigy news roundup.
So, it's official—the Bitcoin ETF approval was not what we expected.
But there might be some hope with Ethereum ETFs.
However, many folks feel we may not see an approval this year (or even next year), given that it took our problem child (Gensler) a decade or so to approve the first Bitcoin ETF.
Anyway, here are the highlights from the past week:
- We Might Be Getting an Ethereum ETF Sooner Than You Think!
- FTX Estate Sold Majority of Bankrupt Exchange’s Grayscale Bitcoin Trust Shares
- BlackRock’s Spot ETF Hits $2 Billion In Assets Under Management As Bitcoin Roars Past $42,000
- OKX exchange to compensate users after 48% token flash crash
We Might Be Getting an Ethereum ETF Sooner Than You Think!
There are currently seven Ethereum ETF applications on the SEC’s desk.
The application with the earliest deadline is May 23, from VanEck.
This is an exciting potentiality, as an exchange traded fund (ETF) would let folks buy/sell Ethereum via the stock market and make the asset accessible to more investors (hopefully attracting greater investment).
FTX Estate Sold Majority of Bankrupt Exchange’s Grayscale Bitcoin Trust Shares
The FTX estate sold over two-thirds of its GBTC holdings. This move, aligned with the start of spot ETF trading, may have netted at least $600 million. The sale was part of the liquidation efforts by the bankrupt crypto exchange FTX and Alameda Research.
BlackRock’s Spot ETF Hits $2 Billion In Assets Under Management As Bitcoin Roars Past $42,000
BlackRock's IBIT ETF hit $2 billion in AUM just two weeks after its launch, thanks to a Bitcoin price rally to over $42,000. It outpaced Fidelity's FBTC, which gathered $1.8 billion.
OKX exchange to compensate users after 48% token flash crash
OKX will compensate users after its OKB token crashed 48%, dropping from $46.80 to $25.10. The exchange attributes the crash to large leveraged positions and market effects and plans to cover losses from this abnormal event with a compensation scheme to be detailed shortly.
Other Highlights Worth Mentioning
Nearly $580K drained with Cointelegraph, Wallet Connect fake airdrop - Protos
Celsius recently transferred substantial amounts of Ether to centralized exchanges, hinting at preparations to repay creditors in liquid crypto by mid-February. - Bitget
US plans to auction $118M Silk Road-seized Bitcoin, causing concern in the crypto community - Cointelegraph
X launches dedicated payments account, crypto community speculates - TheStreet