Ethereum and XRP ETFs are on the Horizon!

Steven McClurg believes Ethereum and XRP ETFs are next in line after Bitcoin ETFs get approved.

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

  • Ethereum and XRP ETFs Likely to Follow Bitcoin ETF Approval

  • Bitcoin ETFs Not Approved Just Yet, SEC’s X Account Got Hacked

  • Celsius Files Intent to Claw Back Certain Pre-Bankruptcy Withdrawals

  • Over $100 Million Stolen During the First Week of 2024

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BlackRock and Grayscale are expected to lead the pack in XRP ETF filings after the SEC’s anticipated approval of Spot Bitcoin ETFs.

  • Speculation is rising about the launch of Spot ETFs for cryptocurrencies like Ethereum and Ripple's XRP, after the approval of Bitcoin ETFs.

  • Steven McClurg of Valkyrie suggests that an Ethereum ETF could be next in line, while excitement builds around a potential XRP ETF, especially after a court ruling deemed XRP a non-security.

  • Reports indicate that major financial firms, including Blackrock and Grayscale, might be involved in launching an XRP ETF as soon as April 2024.

ETF speculation has reached a fever pitch after it was announced that the SEC has approved Bitcoin ETFs for trading in a false tweet.

  • The U.S. Securities and Exchange Commission's (SEC) X account was compromised, after which a false tweet about the approval of Bitcoin ETFs was posted on the social media platform, temporarily boosting Bitcoin's price.

  • The SEC quickly addressed the situation, clarifying that the announcement was due to a hack, but this has left uncertainty regarding their future actions on Bitcoin ETFs.

  • There is speculation about the SEC resorting to a seriatim vote to make their decision, which could cause further delays for Bitcoin ETF approvals.

Creditors who withdrew large amounts from Celsius before it declared bankruptcy might have to give back a portion of those funds.

  • Celsius bankruptcy administrators filed a notice stating that account holders who withdrew more than $100,000 within 90 days before the company's bankruptcy declaration on Jul. 13, 2022, might need to return these funds.

  • Account holders with withdrawals exceeding $100,000, who are not exempt, didn't reject the reorganization plan, and didn't opt out of releases, can settle by paying 27.5% of the withdrawn amount by Jan. 31, 2024.

  • Those failing to settle by the deadline may face legal action from administrators.

SlowMist shared its weekly incident report to the X community, covering cybersecurity events and data from Dec. 31 of 2023 to Jan. 6 of 2024.

  • Last week saw significant security breaches in the crypto space, with total damages exceeding $100 million.

  • The largest of these incidents was an attack on Orbit Chain, occurring in the last hours of 2023, leading to a loss of about $81.5 million.

  • Another major security issue reported by SlowMist involved unauthorized transactions in the cryptocurrency payment system Coinspaid.



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