Today's news tips:
1. DTCC: Starting April 30, cryptocurrency investment tools will not be able to be used as collateral
2. HKEX: Accepting BOS HashKey, Huaxia, Harvest Bitcoin and Ethereum ETFs as eligible securities for multiple counters in the central clearing system
3. Yuga Labs is restructuring and laying off some team members
4.friend.tech: The snapshot has been completed and the status of points on the chain will be announced next week
5. Renzo launches ezPoints Season 2, plans to distribute 500 million REZ
6. The proposal to change the token symbol and token contract migration initiated by the Galxe community has been approved
7.io.net founder: All device data has been restored, users need to restart to complete the update
8.PolkaWorld: Coretime trading on Kusama has started, and the parachain auction has stopped
9. Bitcoin spot ETF had a net outflow of $83.6147 million yesterday, and the ETF net asset ratio reached 4.22%
Regulatory News
Franklin Templeton’s Ethereum Spot ETF is now listed on DTCC’s website
DTCC data shows that the Ethereum spot ETF "FRANKLIN ETHEREUM TR ETHEREUM ETF" (code EZET) applied by Franklin Templeton has been listed on the DTCC (Depository Trust & Clearing Corporation) website, and the creation/redemption column is displayed as Y.
Insider: Hong Kong local institution Value Partners has also applied to issue a virtual currency spot ETF
According to Blue Whale News, in addition to Bosera, China Asset Management and Harvest, Hong Kong local institution Value Partners also applied to issue a virtual currency spot ETF, but it did not appear on the approved list in the end. According to people familiar with the matter, Value Partners withdrew from the application due to poor preparation, tight time and insufficient manpower. In addition, compared with the other three companies, Value Partners mainly does active business in Hong Kong, and its ETF business is relatively weak, so it plans to wait and see.
Although this batch of virtual currency spot ETFs was first launched by three domestic public offering subsidiaries in Hong Kong, according to previous regulations, mainland investors cannot participate in the transaction. Markus Thielen, founder of crypto research company 10x Research, believes that if mainland investors are allowed to buy, this batch of Bitcoin spot ETFs may attract $25 billion in funds.
Bloomberg ETF analyst Eric Balchunas believes that due to the relatively small Hong Kong ETF market, the three domestic public fund managers and international asset managers such as BlackRock are not of the same size, mainland retail investors cannot trade, and product liquidity is questionable, etc., "US$500 million would be lucky."
HKEX: Accepts BOS HashKey, Huaxia, Harvest Bitcoin and Ethereum ETFs as eligible securities for multiple counters in the central clearing system
The Hong Kong Stock Exchange issued three notices, announcing the inclusion of Bosera HashKey Bitcoin ETF Shares and Bosera HashKey Ethereum ETF Shares, Huaxia Bitcoin ETF Shares and Huaxia Ethereum ETF Shares, and Harvest Bitcoin Spot ETF Shares and Harvest Ethereum Spot ETF Shares as eligible securities for the central clearing system multi-counter. It is reported that:
1. The trading unit of BOSDAQ HashKey Bitcoin ETF shares and BOSDAQ HashKey Ethereum ETF shares is 10 shares, and the trading currency is Hong Kong dollars and US dollars;
2. The trading unit of Harvest Bitcoin Spot ETF Shares and Harvest Ethereum Spot ETF Shares is 100 shares, and the trading currency is Hong Kong dollars and US dollars;
3. The trading unit of Hua Xia Bitcoin ETF shares and Hua Xia Ethereum ETF shares is 100 shares, and the trading currencies are Hong Kong dollars, US dollars and RMB.
The above-mentioned ETF is expected to be listed and traded on the Hong Kong Stock Exchange Limited on April 30, 2024, and will be included as a multi-counter eligible security (as defined in the general rules of Hong Kong Clearing) in the Central Clearing and Settlement System on the same day.
NFT&AI
Yuga Labs is restructuring and laying off some team members
Yuga Labs is restructuring the company and laid off some team members on Friday. Greg Solano, co-founder of Yuga Labs, who took over as CEO in February, posted a memo on social media announcing the company's restructuring. He said that Yuga Labs "lost its way" and would focus on building "a smaller, more nimble crypto-native team." Solana pointed out that some of the company's plans have already begun to be implemented. Web3 game development company Farawaygg will let Yuga focus on 3D Otherside game development, and other aspects of the plan will be announced soon.
Project News
Renzo Launches ezPoints Season 2, Plans to Distribute 500 Million REZ
According to official news, Renzo announced the launch of ezPoints Season 2, details are as follows:
-Season 2 will last for three months, ending on July 26;
-Season 2 plans to allocate 5% of the token supply (500 million REZ);
-Season 1 participants will receive an additional 10% bonus;
- New ezPoints rewards for major DeFi partners;
- Starting at 19:00 on April 30, users will have 30 days to claim the Season 1 REZ airdrop. Any unclaimed tokens will be added to the Season 1 airdrop.
friend.tech: The snapshot has been completed and the status of points on the chain will be announced next week
friend.tech posted on Twitter that the data has been repaired, the snapshot has been completed, the points balance has been locked, and unlinking the Twitter account or relinking will no longer transfer points. The status of the points on the chain will be announced next week.
Scroll Mainnet to undergo Bernoulli Upgrade on April 29
Scroll announced on Twitter that the mainnet will undergo a Bernoulli upgrade at 10:00 Beijing time on April 29. It is reported that the upgrade introduces EIP-4844 data blobs for L1 data availability and SHA2-256 precompilation support.
DTCC: Cryptocurrency investment tools will no longer be accepted as collateral starting April 30
According to a document released by DTCC (Depository Trust & Clearing Corporation), starting April 30, 2024, as part of the annual credit line renewal, DTCC will implement the following changes to modify the collateral value of certain securities, which may affect the position value applicable to the Collateral Monitor:
1. The collateral valuation for corporate notes or bonds rated B1 to B3 will be increased from 50% to 70%;
2. Any ETF or other investment vehicle that includes Bitcoin or any other cryptocurrency as an underlying investment will not be given collateral value and will therefore be subject to a 100% haircut.
The proposal to change the token symbol and token contract migration initiated by the Galxe community has been approved
The proposal to change the token symbol and token contract migration initiated by the Galxe community has been passed with a support rate of 99.71%. GAL tokens will be exchanged for G tokens at a ratio of 1:60.
According to previous news, the proposal stated that the plan includes a series of technical improvements, coordination with strategic members of the ecosystem, and planning to ensure a smooth transition process. The main aspects include code base modifications, logo adjustments, and communication strategies for different stakeholder groups. In order to strengthen the brand image and increase community participation, it is necessary to change the original token symbol GAL to G and upgrade the existing GAL token smart contract. If the proposal is passed, GAL tokens will be exchanged for G tokens at a ratio of 1:60. The total supply of G tokens will be changed to 12 billion, which is 60 times the current total supply of GAL tokens of 200 million.
io.net founder: All device data has been restored, users need to restart to complete the update
Ahmad Shadid, founder and CEO of io.net, said on the X platform that all device data has been restored and multiple security patches have been rolled out to protect user device data through Okta Auth0 backend authorization. All existing devices need to be restarted to complete the update.
PolkaWorld: Coretime trading on Kusama has started, parachain auction has stopped
PolkaWorld published a statement saying that Coretime transactions on Kusama have begun, and the parachain time period has come to an end. With the passage and execution of Kusama referendum 373, the proposal upgraded the Kusama relay chain runtime to v1.2.0 and brought Coretime functionality. Immediately afterwards, the community passed Kusmaa referendum 375 last Friday, allowing the Coretime chain to start Coretime sales. Currently, Kusama is in the renewal period, that is, the sale of batches of cores is in progress.
After the renewal period, the Sale period begins, which is a period of on-demand purchases, including price discovery (Dutch auctions, auctions where prices decrease over time) and fixed prices. Agile Coretime brings a more flexible and dynamic way to manage blockchain resources. With the launch of the Agile Coretime sale, the resource allocation landscape on Kusama has changed. Parachain auctions have stopped, and existing and future parachains on the relay chain will:
Existing parachain leases will automatically migrate to bulk coretime. Leases that have not yet started will be canceled and the locked KSM will be refunded.
Existing parachains can use the core time renewal feature to continue to allocate bulk core time to their cores without going through the regular purchase process.
Grand Base: A snapshot of LP balances has been taken, and the airdrop amount is expected to be available next week
Base Ecosystem RWA Market Grand Base said on the X platform that it has taken a snapshot of the LP balance at block height 13180566. The airdrop query tool will be ready next week, and users can use the query tool to view the airdrop amount when the official uses a new smart contract to restart the token.
According to the previous news, according to the early warning monitoring of Paidun, the Base ecological RWA market Grand Base was suspected to have been attacked, which may be related to the leakage of private keys, and the price of GB tokens fell by 96%. The stolen tokens have been exchanged for about 527 ETH (about 1.7 million US dollars) and bridged to Ethereum.
10x Research: ETF inflows are at risk of being reversed, and a new downtrend may emerge
In response to the DTCC's document that cryptocurrency investment vehicles will not be able to be used as collateral starting April 30, crypto research firm 10x Research pointed out that Bitcoin is hitting new lows - there seems to be a new downward trend. This is where the DTCC statement may have an impact. 10x Research wrote an article on the framework of a self-reinforcing Bitcoin mechanism on April 4, arguing that there is a risk that ETF inflows will be reversed to some extent.
Earlier news, according to a document released by DTCC (Depository Trust and Clearing Corporation of America), starting from April 30, 2024, as part of the annual credit line renewal, DTCC will implement the following changes to modify the collateral value of certain securities, which may affect the position value applicable to Collateral Monitor:
1. The collateral valuation for corporate notes or bonds rated B1 to B3 will be increased from 50% to 70%;
2. Any ETF or other investment vehicle that includes Bitcoin or any other cryptocurrency as an underlying investment will not be given collateral value and will therefore be subject to a 100% haircut.
Important data
Justin Sun redeemed 85.53 million USDT from JustLend again 4 hours ago and deposited it into Binance
According to on-chain analyst Yu Jin’s monitoring, 4 hours ago, Justin Sun’s Tron address (TXN...752) redeemed 85.53 million USDT from JustLend and immediately transferred it to Binance, and he may continue to purchase ETH.
Grayscale transferred more than 1,000 BTC to Coinbase Prime address again last night
According to Arkham data monitoring, after the Grayscale address transferred about 411 bitcoins to Coinbase Prime last night, it transferred another 1,003 BTC to the Coinbase Prime address about 14 hours ago, with a value of approximately US$64.18 million.
Bitcoin spot ETF had a net outflow of $83.6147 million yesterday, and the ETF net asset ratio reached 4.22%
According to SoSoValue data, yesterday (April 26, Eastern Time), the total net outflow of Bitcoin spot ETFs was $83.6147 million. Yesterday, Grayscale ETF GBTC had a single-day net outflow of $82.4197 million, and the current historical net outflow of GBTC is $17.185 billion. The Bitcoin spot ETF with the largest single-day net inflow yesterday was Ark Invest and 21Shares' ETF ARKB, with a single-day net inflow of $5.4288 million. The current historical total net inflow of ARKB is $2.246 billion.
As of press time, the total net asset value of the Bitcoin spot ETF was US$53.156 billion, the ETF net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 4.22%, and the historical cumulative net inflow has reached US$11.994 billion.
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