Bitcoin ETFs: A Countdown to Approval or a 2025 Dream?

A Bitwise survey found that only 39% of U.S. financial advisors believe Bitcoin ETFs will be approved in 2024.

Here's what we've got for you today:

  • Financial Experts Doubtful About 2024 Bitcoin ETF

  • ETH ETF Emergence with SEC’s Commodity Nod Reshapes Crypto Investment

  • Crypto Lender Celsius to Unstake $470M in Ether Ahead of Repayments

  • Visa Unveils Web3 Loyalty Program

The future of Bitcoin ETFs is still a mystery as some believe they will only be approved in 2025, while others believe an approval is mere hours away.

  • A Bitwise survey reveals that only 39% of U.S. financial advisers anticipate the approval of a spot Bitcoin ETF within the year, while most expect it after 2025.

  • Social media speculation and a number of suggestive tweets hint that an ETF announcement is imminent, creating a buzz in the crypto community.

  • Experts like Bloomberg's James Seyffart and attorney Joe Carlasare advise people to remain level headed, reminding them of procedural timelines and suggesting a more likely approval window between Jan. 8 and Jan. 10.

The U.S. Securities and Exchange Commission (SEC) has taken a huge step by recognizing Ether (ETH) as a commodity.

  • The U.S. Securities and Exchange Commission (SEC) has implicitly recognized Ether (ETH) as a commodity, a major milestone in cryptocurrency regulation.

  • This recognition opens the door for the launch of a spot Ethereum ETF in 2024, which could open the door to increased institutional investment in digital assets.

  • While SEC Chair Gary Gensler hasn't explicitly classified Ethereum as a security or commodity, the approval of Ethereum futures ETFs suggests an implied acceptance of Ethereum as a commodity future.

According to Nansen, the cryptocurrency lending firm currently has 206,300 Ether in the queue for staking withdrawals.

  • Since filing for Chapter 11 bankruptcy in July of 2022, the lending firm announced on Jan. 5 that it's rearranging its assets to have enough cash ready for distributing assets.

  • Celsius is planning to unstake its Ether holdings, which have been a significant source of staking rewards for the company.

  • Blockchain analytics firm Nansen reveals that nearly one-third of the Ether waiting to be withdrawn currently belongs to Celsius.

  • Visa has launched the Visa Web3 Loyalty Engagement Solution, offering customers unique experiences like gamified giveaways and augmented reality treasure hunts, along with innovative ways to earn and use loyalty points.

  • The company partnered with Web3 platform SmartMedia Technologies to create this new service, allowing to apply rewards to a variety of experiences in sectors like travel and sports.

  • Tyler Moebius, CEO of SmartMedia Technologies, emphasizes that the goal of this collaboration is to transform the relationship between brands and consumers, focusing on a mobile payments-first approach and providing engaging, relevant experiences for modern consumers.



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