“CBOE filed a Form 19b-4 Monday, formally announcing its intention to list and trade shares of the VanEck Bitcoin Trust. The form kicks off the legal review period that could lead to the first bitcoin ETF in the U.S. The SEC now has 45 days to either approve or disapprove the application, or extend the review period.
The approval of a Canadian ETF is likely a signal the SEC will approve one in the U.S. this year as well. Bitcoin’s market “is approximately 100 times larger” in 2021 than it was in 2016, the CBOE/VanEck application said, with regulated bitcoin futures representing approximately $28 billion in notional trading volume on CME.”
See Also: Second Ethereum ETF Filed in Canada
“Institutions are loading up on bull call spreads in anticipation of a continued bitcoin price rally. The data shows institutions remain undeterred by the recent price pullback and foresee a continued rally over the next three months.
At the moment, we think the biggest risk to bitcoin is the short-term risk associated with a downturn in the U.S. and global equities.”
“There are over 8,000 nodes on the Ethereum network. Amazon’s new management feature should increase that number.
With this launch, AWS customers can easily provision Ethereum nodes in minutes and connect to the public Ethereum main network and test networks such as Rinkeby and Ropsten.
It’s an incredible signal for the value of Ethereum in modern applications to have a big player like AWS get serious about tooling. This will inevitably expand the developer base using this technology and that is great for the whole ecosystem.”
“This is the first time the license has been granted to a blockchain-based derivatives trading platform. When live, CloseCross will offer multiparty derivative contracts for global stock market indices, cryptocurrency, forex rates, commodities, stock prices, interest rates and others.
The company said it developed and patented its platform, on which traders can enter derivative contracts ‘without the need of major banks issuing derivatives or having to take on leverage.’ The Ethereum blockchain provided CloseCross with the tech base to ‘entirely automate the derivatives sector and replace the centralized derivative issuers entirely.’“
“Saifdean Ammous, renowned author of The Bitcoin Standard, emphasized that Bitcoin has rarely diverged from the S2F model since it was created well over two years ago. According to the S2F multiple, the price of Bitcoin should be hovering at around $36,851.
The accuracy of the S2F model to date suggests that the market is recognizing the value of Bitcoin based on its scarcity and growing demand. Moreover, it highlights Bitcoin’s value proposition against the depreciating U.S. dollar and the programmed reduction of the flow (i.e., Bitcoin halvings).
PlanB has said that he has no doubt the price of Bitcoin will reach $100,000 by December 2021, based on the model.”
“While the Aavegotchis are designed to incorporate some gaming and collection elements to them, inspired by the handheld Tamagotchi devices popular in the late 1990s and early 2000s, they are also an experiment of tying digital collectibles to real value. The aTokens locked within the NFT cannot be extracted without destroying the Aavegotchi itself, as they represent its “spirit force.”
The aToken collateral represents a lower bound, or intrinsic value, of the collectible. Beyond that, each Aavegotchi has different character traits, wearables and overall rarity, which should drive value on the collectibles market.”
“PayPal is said to be in the process of buying Curv, a technology firm that powers the secure storage of cryptocurrency, according to three sources familiar with the situation. PayPal turned its attention to Curv after talks to buy crypto custody and trading firm BitGo fell through last year.
PayPal has made some great acquisitions in the past such as Vemno, and now they want to own something in crypto.”