● Global spot Bitcoin ETF assets reached US$4.16 billion
According to Reuters, Coingecko data shows that global assets of spot Bitcoin ETFs currently total $4.16 billion, of which nearly half (or $2 billion) are invested in seven spot Bitcoin ETFs launched in Canada since 2021. Canada is also home to the largest Bitcoin ETF of the 20 ETFs, the Purpose Bitcoin ETF, which has $819.1 million in assets.
In addition, Germany's ETC Group Physical Bitcoin (BTCE.DE), launched in June 2020, currently has $802 million in assets, making it the second-largest ETF launched to date. The other seven European ETFs are all domiciled in tax havens such as Jersey, the Cayman Islands and Liechtenstein, with much smaller products trading in Brazil and Australia.
So far, U.S. regulators have only approved crypto ETFs tied to futures contracts and are currently considering up to 10 applications for spot crypto ETFs. CoinGecko said: "It remains to be seen whether a potential U.S. spot Bitcoin ETF can attract stronger investor interest and surpass the Canadian and German ETFs."
● Hong Kong is considering allowing retail investors to invest in spot cryptocurrency ETFs if regulatory requirements are met
According to Bloomberg, Hong Kong Securities Regulatory Commission CEO Leung Fung-yee said in an interview that Hong Kong is considering allowing retail investors to invest in spot cryptocurrency ETFs if regulatory requirements are met. She said: "We welcome suggestions to use innovative technologies to improve efficiency and customer experience. As long as new risks are addressed, we are happy to try. Our approach is consistent regardless of the asset."
● BTC market value has increased by 110% this year, and BTC and ETH have significantly outperformed traditional assets such as gold
Glassnode’s latest chain report shows that the digital asset market has achieved impressive returns in 2023. The performance of BTC and ETH has significantly exceeded the performance of traditional assets, and the performance of both has exceeded that of gold at its peak. 93% and 39%. The two major digital assets have seen significantly smaller market corrections than in previous cycles, indicating investor support and positive capital inflows.
The Altseason indicator shows the first significant appreciation against the US dollar since last cycle's highs. However, it is worth noting that this is happening against the backdrop of Bitcoin’s continued rise in dominance, which has risen from the cyclical low (38%) reached in late 2022, and Bitcoin’s market capitalization is up 110% year-to-date , while the market value of altcoins (excluding stablecoins) increased by 37%.
● Michael Saylor: Bitcoin provides innovative strategies for enterprises
According to the Daily Planet, MicroStrategy founder Michael Saylor said in an interview with CNBC Squawk on the Street that Bitcoin provides companies with an innovative strategy to protect their capital and create shareholder value by using Bitcoin on their balance sheets, thereby breaking away from the vicious cycle of expensive acquisitions, stock buybacks, dividends and debt.
● Ethereum mainnet transaction volume exceeds L2, helping supply chain management and a zero-carbon future
According to CryptoPotato, the Ethereum mainnet has recently regained its L2 dominance in daily transaction volume. Ethereum expert Paul Brody said that blockchain can help optimize and reduce supply chain risks. Ethereum's peer-to-peer network can provide efficient solutions for supply chain management. In addition, Ethereum can also support a zero-carbon future through tokenized carbon reduction cap and trading programs.
● In October, both BTC miners’ income and ETH staking income increased, and the amount of ETH destroyed exceeded 41,000
The Block Pro data shows that in October, Bitcoin miners' income increased by 17.4% to $885 million, and Ethereum staking income increased by 8.6% to $125 million. In addition, the Ethereum network destroyed a total of 41,348 ETH in October, equivalent to about $70.3 million. Since the implementation of EIP-1559 in early August 2021, Ethereum has destroyed a total of about 3.67 million ETH, equivalent to about $10.31 billion.
● Musk: Artificial intelligence project xAI will be integrated into social platform X and can be used independently
Musk said in a post on Sunday that the artificial intelligence project xAI will be integrated into the social platform X and can also be used as a standalone application, PANews reported.
According to previous news, xAI released its first artificial intelligence model "Grok" on Friday, and will be open to all X Premium+ users after completing early testing. Musk said that Grok can obtain information in real time through the X platform, which is a huge advantage that other models cannot match.
