SEC’s first window to approve all 12 spot Bitcoin ETFs to begin today

There’s an eight day window between Nov. 9 and Nov. 17 where all 12 spot Bitcoin ETF filings could be approved by the SEC, according to Bloomberg ETF analysts James Seyffart and Eric Balchunas.

The United States Securities and Exchange Commission could approve all 12 of the pending spot Bitcoin exchange traded fund (ETF) applications within the next eight days.

Bloomberg ETF analysts James Seyffart and Eric Balchunas wrote that starting from Nov. 9 in the United States, the SEC has a “window” to approve all 12 spot Bitcoin ETF filings — including Grayscale’s conversion of its GBTC trust product — in the days leading up to Nov. 17, but stressed this was only a possibility.

Delay orders were issued by the SEC for BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity & Valkyrie at the same time

The reason for this brief window is that when the SEC extended the deadline for a number of the pending spot Bitcoin ETF filings, it selected Nov. 8 as the last day of the comment period.

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Bitcoin supply held by long-term holders hits all-time high

Data from Glassnode suggests that Bitcoin is in an accumulation pattern, with its available supply reaching a new historical low. According to the report, Bitcoin’s illiquid supply and long-term holders are increasing.

As its supply tightens, available BTC is being purchased by smaller, long-term holding entities.

Bitcoin accumulation among a majority of investor cohorts and the bullish conviction of long-term holders have resulted in investors gobbling up “92% of the newly mined supply,” according to the Glassnode analysis.

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China ‘does not want to miss out’: Community reacts to HK spot Bitcoin ETF news

China ‘does not want to miss out’: Community reacts to HK spot Bitcoin ETF news

The cryptocurrency community is excited about the Hong Kong government reportedly weighing the launch of a spot cryptocurrency exchange-traded fund (ETF) amid the ongoing regulatory pushback against such products in the United States.

Hong Kong’s potential entrance into spot crypto ETFs could be a significant development in the context of the economic confrontation between the U.S. and China, BitMEX co-founder Arthur Hayes believes.

Hayes took to X (formerly Twitter) on Nov. 6 to express excitement over competition between the two economies, emphasizing that this competition will eventually be good for Bitcoin

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VC Roundup: private accounts, tokenization, and healthcare infrastructure grab investors’ attention

Nocturne, Untangled Finance, Account Labs, Rymedi, and Waterfall network secure venture capital funding in the latest funding blitz

Blockchain-based startups continue to gather funding during the current bear market, with MetaMask partner Blockaid raising $33 million in October. However, the overall funding in the crypto industry has dropped to levels last seen in 2020, amassing $2.1 billion over 297 deals in the third quarter of 2023, as reported by Messari. As is often the case during bear markets, investors are taking a closer look at projects before investing and apparently seeking tangible real-world applications.

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Sam Bankman-Fried found guilty on all 7 charges in FTX fraud trial

Former FTX CEO Sam Bankman-Fried was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of deliberations.

Bankman-Fried was found guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy.

He will return to court for sentencing by New York District Judge Lewis Kaplan on March 28, 2024. Government prosecutors will recommend a sentence but Judge Kaplan will have the final say.

Bankman-Fried’s crimes each carry a maximum sentence of between 5 and 20 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum 20-year sentence.

In a press conference outside the court, the New York Southern District U.S. Attorney Damian Williams called Bankman-Fried’s crimes “a multibillion-dollar scheme designed to make him the king of crypto" and one of the biggest financial frauds in American history.

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Abu Dhabi Global Market introduces comprehensive DLT Foundations Regulations

The Abu Dhabi Global Market (ADGM) Registration Authority has introduced comprehensive regulations governing Web3 organizations. The international financial free zone’s regulatory framework is “purpose-built” and the first of its kind, the agency claimed.

The Distributed Ledger Technology (DLT) Foundations Regulations will provide for the operation of blockchain foundations, Web3 entities, decentralized autonomous organizations (DAOs) and traditional foundations expanding into DLT. Blockchain foundations provide financial and other forms of support for a blockchain without direct involvement in it.

The regulations enable the creation of a “DLT Foundation” by submitting a signed charter that includes a description of the foundation’s initial assets and details about its governance and token issuance (if any), along with the organization’s white paper, tokenomics paper and a link to a technical document called a DLT Framework.

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