Hashdex, one of the 13 asset managers vying for spot Bitcoin (BTC) exchange-traded fund, expects to see the first spot Bitcoin ETF in the United States land by the second quarter of 2024, followed by a spot Ether (ETH) ETF.

“The exact timing of a spot Bitcoin ETF in the U.S. remains unclear, but in 2023, the narrative around this product switched from a question of ‘if’ to a matter of ‘when,’” said Hashdex’s U.S. and Europe head of product Dramane Meite in a 2024 outlook report, published on Dec. 4.

“We believe U.S. investors will have access to a spot Bitcoin ETF by the second quarter of the new year and that a spot Ether ETF is likely to follow.”

Hashdex is one of the…

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Blockstream CEO, Adam Back, a key player in the development of technologies like the Bitcoin BTC/USD Lightning Network, said the apex cryptocurrency will reach $700,000.

What Happened: Back said on X, “Digital gold bitcoin will surely flip physical gold sooner or later; and probably this halving cycle. So within a year or two. Currently, it’d take $700k/BTC but it maybe partially a substitute (some people start selling gold to buy bitcoin crossing the market caps below that).” 

Back’s confidence in Bitcoin potentially eclipsing gold’s market cap within the next couple of years hinges on the impact of the upcoming Bitcoin halving—slated for April next year. 

This event reduces…

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Crypto-friendly trading platform Robinhood has reported a 75% month-on-month increase in digital asset trading volume in November.

In an 8-K filing to the Securities and Exchange Commission on Dec. 4, Robinhood noted that “November Crypto Notional Trading Volumes were roughly 75% above October 2023 levels.”

The activity however equity trading volumes and options contracts traded were roughly flat in the same month compared to October.

The bumper month marks a reversal for Robinhood, which revealed a 55% decrease in cryptocurrency notional volumes over the year in its Q3 results filing.

As a result, its Q3 revenue came in below analyst estimates for the quarter at $467 million….

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Bitcoin miner Riot Platforms is buying 66,560 Bitcoin mining rigs from manufacturer MicroBT, in one of its largest orders of hash-rate in the firm’s history — ahead of the Bitcoin halving scheduled for April 2024.

The additional purchase agreement totaled $290.5 million, Riot stated in a Dec. 4 statement — meaning it paid an average of $4,360 for each machine.

$Riot Exercises Purchase Option on 18 EH/s of Latest Generation Immersion Miners from MicroBT, and Secures Additional Purchase Options Providing a Path to Exceed 100 EH/s.

– Riot places order for 18 EH/s of latest generation MicroBT Bitcoin miners, primarily consisting of the… pic.twitter.com/tEEudV6Z8n

— Riot Platforms, Inc…. Read more on Cointelegraph

Publicly traded crypto firms have notched triple-digit percentage returns this year and closed up in green on Dec. 4, as Bitcoin (BTC) reached a new year-high of over $42,000. 

Crypto exchange Coinbase (COIN) closed the day at just over $141 with a 5.5% gain, up 320% from its price at the start of the year, per Google Finance data.

Bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT) closed the day with over 8% gains, recording 337% and 345% year-to-date (YTD) gains, respectively.

A visual map of the one-day price of S&P 500 stocks shows mixed results on Dec. 4 Source: Finviz

Crypto investment firm Galaxy Digital Holdings (GLXY) posted a daily gain of nearly 12% and is up 155%…

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Bitcoin (BTC)-related investment products have become the “main beneficiary” of recent investor interest  in crypto, amid growing anticipation of a spot Bitcoin ETF approval in the United States.

A total of $1.76 billion of investors’ funds have flowed into crypto products over a 10-week period, making up for the largest inflows over such a period since October 2021 — when Bitcoin futures w launched, according to a Dec. 4 report from CoinShares’ head of research James Butterfill.

Record inflows! Last 10 weeks now total U$1.76bn inflows, the highest on record since October 2021’s futures-based ETF launch in the US.

Week 49 inflows: U$176 million

– #Bitcoin –$BTC: U$133m…

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A Supreme Court case could change the way the US Securities and Exchange Commission and other federal agencies bring enforcement actions — but legal experts warn the crypto industry not to hold its breath. 

Following a 2011 investigation, the SEC sued hedge fund founder George Jarkesy for securities fraud, allegeding he inflated asset prices to boost his own management fee. By the SEC’s choice, the case was an “administrative proceeding,” a non-judicial process overseen by an administrative law judge instead of a federal court. 

In an appeal to the Fifth Circuit, Jarkesy argued the administrative proceeding violated the US Constitution’s seventh amendment by denying him a…

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Bitcoin (BTC) miner Core Scientific has released a presentation outlining its plans to emerge from bankruptcy in early January 2024. The presentation is based on the third amended joint Chapter 11 plan filed on Nov. 16 and includes an audio commentary by CEO Adam Sullivan.

Common shareholders and holders of two series of convertible notes are being planned for separately. Common shareholders will receive new shares exchanged at a ratio of 25:1, to provide them with $1.08 per pre-exchange share.

Planned Core Scientific indicators through 2027. Source: Core Scientific

Noteholders will receive $1.628 on every $1 of face value for notes due in April and $1.201 per $1 face value for notes with…

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The Internal Revenue Service’s Criminal Investigations Unit is seeing an increase in its caseload of crypto tax cases, according to Bloomberg.

Bloomberg cited a reporter’s call with division head Jim Lee, during which he disclosed that the investigations range from failures to report capital gains to purposeful withholdings of crypto ownership disclosures. 

Three years ago, Lee reportedly said the majority of cases were focused on money laundering. Now, roughly half are tax related.

The tax agency’s investigations unit was just one of the agencies aiding in the Binance probe, which led to a $4 billion settlement. 

Read more: Here are the details of Binance and Changpeng Zhao’s…

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