• SEC’s first window to approve all 12 spot Bitcoin ETFs to begins November 9th
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.
• Bitcoin ETF launch could be delayed more than a month after SEC approval
With the United States Securities and Exchange Commission’s first window opening up for the approval of a spot Bitcoin ETF, analysts have noted that even if the SEC approves a spot Bitcoin exchange-traded fund (ETF), it will be a month before the actual launch.
The expected delay in launch following a potential SEC approval would be due to the two-step process of launching an ETF. For an issuer to start a Bitcoin ETF, it must get SEC approval from the Trading and Markets division on its 19b-4 filing and the Corporate Finance division on the S-1 filing or prospectus.
The main focus of the Corporate Finance division includes fund operations details and risk disclosures. To date, of the 12 Bitcoin ETF applications, nine issuers have submitted revised prospectuses showing they have communicated with Corporate Finance. Market analysts believe the Bitcoin ETF launch may get delayed if the SEC approves the 19b-4 approvals before prospectus documents are signed off.
• NFT sales volume jumps to $129M in November — Nansen data
Non-fungible tokens (NFTs) have seen a steady increase in terms of weekly Ether sales volume, according to the blockchain analytics platform Nansen.
In a post on X (formerly Twitter), Nansen highlighted that on the week ending on Oct. 9, NFT sales were at 29,704 ETH, worth around $56 million at current ETH market prices. The sales volume increaseed weekly until it reached 68,342 ETH, worth over $129 million.
NFT marketplace Blur had the highest share of NFT trading volume in the last 30 days. According to data aggregator NFTGo, Blur had a trading volume of 161,433 ETH (roughly $305 million) in the previous 30 days. Meanwhile, the second spot went to its competitor, OpenSea, which had 52,307 ETH in trading volume, or around $100 million.
• Binance Rolls Out Its First Ever Self-Custody Web3 Wallet
Cryptocurrency exchange Binance has released a Web3 wallet that can be used to interact with the decentralized finance (DeFi) ecosystem.
The new product, which will work across 30 blockchain networks, was announced at the Binance Blockchain Week conference in Istanbul.
“Web3 wallets represent more than just storing digital assets; they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance,” CEO Changpeng ‘CZ’ Zhao said.
Binance’s Web3 wallet will compete with the likes of MetaMask and Trust Wallet, the latter of which was acquired by Binance in 2018. Binance listed a futures market for TrustWallet’s native token (TWT) earlier this week. The TWT price slid after the announcement, taking the 24-hour change to a 7% drop.
• Ethereum, Bitcoin users reignite scalability debate as gas fees surge
A recent spike in transaction fees on Ethereum and Bitcoin appears to have reignited the debate around solutions for scalability and the role of layer 2s.
Over the last 24 hours, cryptocurrency users began sharing screenshots showing double, occasionally triple-digit transaction fees on Ethereum and Bitcoin.
One screenshot showed gas fees were as high as $220 for a high-priority transaction on Ethereum while other screenshots showed figures around the $100 mark.
Bitcoin users meanwhile, reported fees that were around $10 for high-priority transactions. While this is relatively low, the average Bitcoin (BTC) transaction cost has hovered around $1 over the last three months, according to BitInfoCharts. BTC fees haven’t been this high since May.
• Hong Kong ‘ready’ to capitalize on crypto’s next bull run: Hashkey Capital
ong Kong is “very ready” for the next wave of mass crypto adoption, with an influx of crypto talent that has been spilling into the aspiring digital asset hub, says Jupiter Zheng, a partner at Hashkey Capital.
Speaking to Cointelegraph, Zheng, partner of liquid funds and research at the investment arm of Hong Kong crypto firm HashKey Group — explained that the combination of new Web3 projects along with crypto-positive regulatory developments has primed Hong Kong for significant growth in the next four to five years.
“You’ve got all of these new, different projects, with their founders and teams here, which is all real GDP by the way. These teams are already boosting both banking and capital market activities.”
Concluding Notes:
- SEC’s first window to approve all 12 spot Bitcoin ETFs to begins November 9th
- Bitcoin ETF launch could be delayed more than a month after SEC approval
- NFT sales volume jumps to $129M in November — Nansen data
- Binance Rolls Out Its First Ever Self-Custody Web3 Wallet
- Ethereum, Bitcoin users reignite scalability debate as gas fees surge
- Hong Kong ‘ready’ to capitalize on crypto’s next bull run: Hashkey Capital
