The Block
The launch of spot bitcoin ETFs in the U.S. is likely to redistribute the supply of bitcoin from whales to new entrants, according to blockchain analytics firm Nansen.Increased liquidity from investors may lead to lower volatility over time, yet significant fluctuations in risk-off events are still expected, Principal Research Analyst Aurelie Barthere said.
Quick Take Delphi Labs and Astroport Foundation have launched an inscriptions-based protocol, Asteroid, for the Cosmos Hub network. The first inscription-based Asteroids (ROIDS) token was rolled out as a proof of concept. Delphi Labs emphasizes Asteroid’s potential as a “metaprotocol” with applications beyond images and tokens.
BlackRock Head of U.S. iShares Product Rachel Aguirre said both retail and new investors are interested in the firm’s spot bitcoin ETF.Aguirre also discussed BlackRock’s educational efforts for clients and financial advisors regarding bitcoin.
There is a notable concentration of call options for ether with a strike price of $2,550 for the Jan. 19 expiry on Deribit.Anticipation of potential ether spot ETFs is attracting investor attention to the asset, according to analysts.
Quick Take Tether recently acquired an additional 8,888 bitcoins, increasing its total holdings to about 66,465 BTC. The current value of these bitcoins is about $2.8 billion.
Quick Take Institutional crypto staking platform Kiln has raised $17 million in a funding round led by 1kx. Kiln plans to use the capital to fund its global expansion plans, including opening its APAC Singapore headquarters in Q1.
Quick Take If approved, the proposed rules would require crypto firms to conduct due diligence on transactions worth at least $1,090.
Quick Take Its co-founder said the funding round was meant to “align interests of liquidity providers” rather than raise capital.
Quick Take South Korea is currently working to abolish the income tax on financial investments.
Quick Take The former U.S. president said in a campaign speech in New Hampshire that he won’t allow a central bank digital currency if he gets elected.
