Nasdaq Files Amendment for BlackRock's Spot Bitcoin ETF, Nears Approval Deadline

The Nasdaq has submitted an amendment for BlackRock and Valkyrie’s Spot Bitcoin Exchange-Traded Fund (ETF) 19b-4 filings, inching closer to the looming approval deadline this coming Wednesday. The amendment filing comes was the next step forward in the regulatory process, indicating progress in the bid to secure approval from the U.S. Securities and Exchange Commission (SEC).

The Nasdaq’s latest amendment filing for the BlackRock and Valkyrie Spot Bitcoin ETF signals an intensified effort to address regulatory queries and concerns within the specified timeframe. As the approval deadline approaches, the amendment filing underscores Nasdaq’s commitment to refining and finalizing the…

Read more on BitcoinMagazine

26 months after bitcoin futures ETFs launch, traders brace for a spot product

Bitcoin spot prices continue to whipsaw on shifting expectations about if and when an ETF will get the go-ahead from US securities regulators.

The ongoing will-they-launch parlor game has analysts speculating about what might happen to the product’s predecessor: the bitcoin futures ETF. 

The US Securities and Exchange Commission approved ETFs that track bitcoin futures markets in October 2021. Those approvals were a watershed moment for bitcoin and crypto, giving individual investors and advisors access to bitcoin exposure in their traditional brokerage and retirement accounts for the first time. 

Now, with a spot product looming — and potentially several — some expect some…

Read more on Blockworks

BlackRock, Valkyrie inch closer to potential spot bitcoin ETF decision

A pivotal phase in the race for the American spot bitcoin ETF has begun. 

Nasdaq filed amendments related to the spot bitcoin ETFs proposed by BlackRock and Valkyrie in a move that reflects continued movement toward a Securities and Exchange Commission ruling on such funds. 

The SEC would need to approve these documents, known as 19b-4 forms, before the exchanges would be able to list the spot bitcoin ETFs. Fund issuers also need to have their registration statements, known as S-1s, be deemed effective to launch their planned ETFs. 

The regulator could also choose to deny such products, as it has done over the years.

Read more: What to know as an SEC decision on spot bitcoin ETFs…

Read more on Blockworks

Spot Bitcoin ETF Applicants Clear Key Hurdle on Path to SEC Approval

In a significant stride towards the potential approval of Spot Bitcoin Exchange-Traded Funds (ETFs) in the United States, applicants have overcome a pivotal hurdle, marking a crucial milestone in their quest for regulatory approval from the U.S. Securities and Exchange Commission (SEC).

As reported by Bloomberg, the applicants seeking approval for the eagerly anticipated spot Bitcoin ETFs have successfully navigated a critical stage in their regulatory journey. Sources close to the matter revealed that the applicants have addressed and resolved key concerns raised by the SEC, signaling progress in addressing the regulatory queries central to the approval process.

“Securities and Exchange…

Read more on BitcoinMagazine

Crypto slips while stocks post a mild recovery after a rough start to 2024

Bitcoin and ether slipped Friday, losing 1.5% and 1.7%, respectively, after a tumultuous week in crypto markets. Meanwhile, stocks, after a rocky start to 2024, started to turn things around, but indexes are still on track to post their first losing week in more than two months. 

The S&P 500 and Nasdaq Composite indexes each gained around 0.3% toward the end of Friday’s trading session, positioning them 1% and 2.4% lower, respectively, since the beginning of the year. 

Investors have been digesting this week’s jobs data and the latest indication from the Federal Reserve that the pace and timeline for rate cuts is still very much up in the air. The ratio of job openings to…

Read more on Blockworks

Dencun and Pralectra: Ethereum core devs chart an ambitious 2024

Ethereum’s core developers are debating the priorities for the next hard fork after “Dencun,” which could come in late 2024 or 2025.

Following Thursday’s All Core Devs call, the tentative schedule for the Dencun fork remains unchanged, with the Goerli testnet first up on Jan. 17.

With the rollout of the upgrade looking likely in March, developers are turning attention to what comes next in Prague-Electra — Pralectra for short — the upgrade to follow.

Still very much in flux, a debate is in progress on the overall vision: Either a feature-focused set of smaller Ethereum Improvement Proposals (EIPs) or a major protocol upgrade to introduce Verkle Trees to the execution… Read more on Blockworks

LATEST: Global Asset Manager VanEck Dedicates 5% of Bitcoin ETF Profits to Brink’s Bitcoin Developers

In a bold move signaling deep commitment to the cryptocurrency sector, VanEck, a leading asset management firm and aspirant for a Bitcoin exchange-traded fund (ETF) listing in the U.S., has pledged 5% of its future fund profits to support Bitcoin developers at Brink.

This initiative mirrors their previous 10% donation from Ethereum ETF profits. VanEck’s commitment signifies more than just business; it’s a long-term investment in the cryptocurrency ecosystem. With the expected approval of the ETF, a surge in traditional finance investment into cryptocurrencies is anticipated, marking a new era of financial integration. VanEck’s move symbolizes a bridge between traditional finance and the evolving crypto world, reflecting their deep-rooted belief in Bitcoin’s future.

Twitter

More than 1 million smart accounts have been deployed, Alchemy says

An estimated 53% of the total smart accounts deployed were created in Q4 of 2023, a report by Web3 development platform Alchemy shows. 

Of the total 1.8 million deployments since the launch of ERC-4337 at Walletcoin in March 2023, over 960,000 of these smart accounts were created in the past three months. 

Will Hennessy, Alchemy’s account abstraction lead, notes that these numbers exceeded initial expectations.

“The Ethereum Foundation just deployed ERC-4337 contracts in March 2023, so this early adoption is faster than expected. It shows how hungry app developers are to solve [user experience] problems like gas sponsorship,” Hennessy said.

Smart contract accounts, unlike…

Read more on Blockworks

Developers Don't Work For You

I have a feeling that I am going to be writing a lot on this topic in general for the foreseeable future, but the philosophical and existential crisis currently confronting the Bitcoin space over what constitutes “spam” is starting to have massive second order effects and consequences in all of the different Bitcoin communities.

I want to specifically focus on the reaction to this debate spilling over into what charitably can be construed as debating with Core developers, but in reality in most cases has taken the form of what can only be called harassment. This can be a very nuanced and subtle aspect of how Bitcoin works, as the relationship between “customers” that actually…

Read more on BitcoinMagazine

Bitcoin ETF tweets and Vitalik’s car crash: How news real and fake moves crypto prices

Crypto itself may well be all it’s cracked up to be — a new paradigm to devour finance in much the same way that internet software has eaten the world over the past three decades.

Crypto markets meanwhile can be a hot mess. Rarely driven by fundamentals and often by hype, prices for digital assets can swing wildly depending on what’s spread across news and social media day-to-day.

We saw a taste of this earlier this week. A Matrixport analyst note throwing cold water on the widely-held belief that the SEC would soon approve the US’s first-ever spot bitcoin ETF correlated with a sudden 10% crash in the price of bitcoin (BTC).

The fall triggered a collapse across swathes of crypto…

Read more on Blockworks