● US SEC confirms Cboe submits documents for Fidelity Ethereum spot ETF application
According to SEC documents, Cboe BZX Exchange, Inc. has submitted a proposed rule change to the U.S. Securities and Exchange Commission (SEC) on November 17, proposing to list and trade the spot ETF commodity trust shares of the Fidelity Ethereum Fund ("Trust") under BZX Rule 14.11(e)(4). The SEC has confirmed receipt of the proposal and will seek public comments on the rule change.
● Data: ProShares Bitcoin Futures ETF BITO fund management scale hits a new high since December 2021
According to CoinDesk, ProShares' Bitcoin Strategy ETF (BITO) had assets under management (AUM) of US$1.47 billion this week, the highest level since December 2021.
“Investor demand for BITO remains strong, as evidenced by the ETF reaching new highs in assets under management,” said Simeon Hyman, global investment strategist at ProShares, in a statement to CoinDesk. “We believe this speaks to investor demand for a familiar, accessible and regulated way to realize returns in bitcoin. Since inception, BITO has averaged $160 million in daily volume, ranking in the top 5% of all U.S. ETFs.”
● Binance pilots a tripartite banking agreement to help institutional investors manage counterparty risk
According to PR Newswire, Binance announced that it has successfully executed the world's first cryptocurrency tripartite agreement with a third-party banking partner. This solution enables institutional investors to place trading collateral in over-the-counter transactions under the supervision of a third-party banking partner. This is the first in a series of pilot projects initiated by Binance, and Binance is currently the only cryptocurrency exchange that offers such solutions.
The official press release states that this agreement directly addresses the issue of counterparty risk, which is also the most important concern of today's institutional investors. It replicates the framework commonly seen in traditional financial markets, enabling investors to allocate crypto assets according to their risk tolerance. The collateral held with bank partners can be an equivalent fiat currency, such as treasury bills, which has the additional benefit of being a yield asset.
● Binance CEO Richard Teng: Binance Web3 wallet creation exceeds 1 million
Richard Teng, CEO of Binance, said on X Platform, “Binance has just reached a new milestone, with 1 million Binance Web3 wallets created.”
● JPMorgan report: DeFi and NFT markets show initial signs of recovery
According to CoinDesk, JPMorgan said in a research report on Thursday that decentralized finance (DeFi) and non-fungible token (NFT) activities have recovered in recent months as expectations of approval of U.S.-listed spot Bitcoin exchange-traded funds (ETFs) have improved sentiment in the cryptocurrency market.
The growth comes after nearly two years of slowing growth, “therefore leading to optimism that the worst may be over in terms of the medium-term trajectory of DeFi/NFT activity,” the report said.
The report said the Ethereum blockchain does not appear to have benefited from the recent resurgence in DeFi and NFT activity and faces issues related to "network scalability, low transaction speeds and high fees," as well as increased competition from other first-layer chains.
● MicroStrategy once again increased its holdings by 16,130 BTC for approximately US$593.3 million, and currently holds over 170,000 BTC
MicroStrategy Executive Chairman Michael Saylor said on the X platform that MicroStrategy acquired an additional 16,130 BTC at a price of approximately US$593.3 million, with an average price of US$36,785 per Bitcoin. As of November 29, 23, MicroStrategy currently holds 174,530 BTC at a price of approximately US$5.28 billion and an average price of US$30,252 per Bitcoin.
● Venture capital investment in the blockchain sector surged 96% in November, reaching a six-month high
According to Foresight News, data released by Twan, research director of The Block, on the X platform showed that venture capital in the blockchain field surged 96% month-on-month in November, reaching a six-month high. The total amount of financing in the blockchain field since November was US$1.09 billion, of which the infrastructure field accounted for the largest proportion, US$413 million, accounting for 37.9%.
● Circle refutes accusations: does not provide financial support to terrorist organizations
According to Decrypt, digital currency company Circle strongly refuted the allegations of a Washington watchdog group on Friday, which claimed that Circle provided financial support to terrorist organizations. Circle Chief Strategy Officer Dante Disparte refuted the allegations in a letter to Senate Banking Committee Chairman Sherrod Brown (D-Ohio) and Senator Elizabeth Warren (D-Mass.).
Disparte stressed that Circle works closely with law enforcement and complies with the U.S. Bank Secrecy Act’s anti-money laundering regulations. He also said Circle supports strengthening anti-money laundering regulations for cryptocurrencies and supports legislation proposed by Warren and Sen. Roger Marshall (R-Kan.).
