FameEX Morning Crypto News Recap | January 5, 2024

Rising Number of Spot Bitcoin ETF Registrations Flood SEC as Approval Deadline Nears

Five applicants for spot Bitcoin exchange-traded funds (ETFs) have submitted their registrations with the U.S. Securities and Exchange Commission (SEC) as the approval deadline approaches. However, experts caution that this doesn't guarantee immediate approval, as additional steps are required before these ETFs can be officially launched.

SEC Holds Discussions with Leading Exchanges Regarding Spot Bitcoin ETFs, Anticipating Approval Soon, Say Analysts

The U.S. SEC met with major exchange representatives to discuss spot Bitcoin ETFs. Sources suggest that the SEC may start notifying spot Bitcoin ETF issuers of approval on Friday, potentially allowing trading to begin next week. A Bloomberg analyst described this as a significant step toward approval, saying it's "as close to 'done' as we've been."

South Korea's Crypto Boom: Managing the 'Kimchi Premium' and Surging Trade Volumes

South Korea's cryptocurrency trading volume has experienced significant growth, with two exchanges accounting for over 10% of the global trading volume as of January 4, 2024. Furthermore, in South Korea, Bitcoin trades at a premium compared to the global price, with one unit valued at around $44,317, while the worldwide price hovers around $43,356 per coin.

Grayscale and VanEck Register for Spot Bitcoin ETF Shares on Exchanges

On January 4, both the VanEck Bitcoin Trust and Grayscale Bitcoin Trust submitted filings to the SEC, registering their shares as securities on the Cboe BZX Exchange and New York Stock Exchange Arca, respectively. These filings are a step towards registering an ETF with the SEC and come after a similar registration by the Fidelity Wise Origin Bitcoin Fund on January 3.

Microsoft Introduces AI Copilot Key in First Windows Keyboard Update in Three Decades

Microsoft is set to introduce an "AI Copilot" key on Windows keyboards, the first such addition since the inclusion of the "Windows" key in 1994. While specific functionality details are not yet disclosed, it is expected that pressing the key will activate Microsoft's Copilot virtual assistant.

EU Regulators Launch Investigation into Banks' Cryptocurrency Exposure

The European Banking Authority (EBA) will investigate links between traditional banks and non-bank financial institutions (NBFIs), including hedge funds, private equity, and crypto platforms. This assessment, in collaboration with the European Systemic Risk Board (ESRB) and the Financial Stability Board (FSB), aims to understand and manage financial risks within the EU.

South Korea Suggests Prohibiting Cryptocurrency Purchases with Credit Cards

South Korea is considering a prohibition on using credit cards for cryptocurrency transactions. This proposed measure aims to regulate the digital currency market and mitigate financial risks associated with crypto purchases. The initiative reflects the country's cautious approach towards the integration of cryptocurrencies into mainstream financial practices.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.