The Block
Quick Take The total net asset value held by US-based spot bitcoin ETFs has reached the highest level yet recorded at over $66 billion—nearly 5% of bitcoin’s total market cap—following a six-day streak of positive net inflows. The ETFs recorded over $2 billion in inflows in the past week alone, their best showing since March. The SEC recently gave the go-ahead for exchanges NYSE and Cboe to list options trading for multiple spot bitcoin ETFs.
Quick Take The price of the world’s largest cryptocurrency is having its best weekly performance in over a month. Crypto-related stocks like Coinbase, Hut and several others are following suit with notable gains in Friday’s session.
The SEC granted “accelerated approval” to allow for the trading and listing of options of 11 spot bitcoin ETFs.The agency first approved listing options on the iShares Bitcoin Trust on Nasdaq ISE, LLC in September.
Quick Take An exploiter, possibly a Norther Korean hacker, was able to obtain the private keys in a social engineering attack that drained $4.4 million worth of cryptocurrencies, the Tapioca Foundation said. The organization worked with the emergency response team SEAL911 and others to recover assets the exploiter had missed.
DBS, Singapore’s largest bank, has launched “DBS Token Services,” a new suite of blockchain-based products designed to enhance liquidity management and streamline operations for institutional clients.BlackRock’s spot Bitcoin ETF added another $309 million in net inflows on Thursday, contributing to more than $1 billion worth of positive inflows for its IBIT product this week alone.The SEC filed a “Civil Appeal Pre-Argument Statement” late Thursday, seeking to challenge the U.S. District Court for the South
Quick Take Decentralized finance can complement more centralized financial sectors, but will not replace it, said Federal Reserve Governor Christopher Waller. Waller also alluded to the need for regulation.
Quick Take Benchmark’s Mark Palmer says rather than fretting about the rise in premium to net asset value, investors should focus on the strong BTC Yield enabled by U.S. capital markets and Bitcoin arbitrage. The analyst maintained a ‘buy’ rating on MSTR stock and raised the company’s price target from $215 to $245.
Quick Take The team behind the Bitcoin-focused, EVM-compatible Plasma chain has raised $3.5 million from friends and family. Plasma, focused on expanding access to the USDT stablecoin, is backed by Bitfinex CTO and Tether CEO Paolo Ardoino.
Quick Take The official X account of EigenLayer appears to have been compromised and used to promote a fake airdrop, according to various online reports.
Quick Take An Indian man was jailed on Thursday for stealing over $20 million via a fake Coinbase crypto exchange website. A U.S. judge sentenced the man to 60 months in prison, followed by two years of supervised release.
