Weekly Update: 25 Jan 2024
1) No more than 50% chance of spot Ether ETF approval by May, JPMorgan says [CoinDesk]
– Lawsuits against crypto exchanges offering staking services for proof-of-stake blockchains, including Ethereum, make approval of a spot ether ETF more challenging until these cases are resolved, the investment bank said.
2) Hong Kong’s VSFG eyes Q1 2024 for spot Bitcoin ETF introduction [CoinDesk]
– At least 10 asset managers have been working to launch a spot Bitcoin ETF in Hong Kong amid a Bitcoin ETF push in the United States.
3) ARK continues to shuffle out of BITO, buys $15M of its own ETF [CoinDesk]
– Investors are focusing on more liquid, growth-ready startup opportunities as crypto venture capital continues to recover.
4) AXS to accept digital currencies in tie-up with crypto payment firm [The Straits Times]
– AXS users can choose to pay in either Bitcoin, Ether, Tether or USD Coin. For now, the option to pay in cryptocurrencies is available only on AXS’ mobile app.
5) Binance leads industry in law enforcement collaboration as crypto crime goes down [Cointelegraph]
– Binance’s cooperation with law enforcement furthers the security of the global blockchain ecosystem, enhancing trust and fostering sustainable growth of the industry.
6) Canada’s use of law freezing protesters’ crypto donations was unconstitutional — Judge [Cointelegraph]
– A federal judge said there was no national emergency justifying the invocation of the emergency law, which gave the government the power to freeze assets.
7) ERC-3643 is looking for ways to bring compliance to RWA tokenization[Blockworks]
– ERC-3643 is designed to deny transactions or actions if counterparties fail to meet compliance requirements.
8) JPMorgan downgrades Coinbase stock to ‘underweight’ following spot Bitcoin ETF approvals [Cointelegraph]
– The investment bank had previously categorized Coinbase stock as a “neutral” rating but maintained its price target of $80 by December 2024.
