BitwiseETF

Aleksei Andriunin, the founder of market maker Gotbit, was extradited from Portugal to the US on February 26 to face charges of fraud and token price manipulation in the cryptocurrency sector. The US Department of Justice (DOJ) claims that Andriunin and Gotbit were behind a large-scale scheme to manipulate the token prices of paid cryptocurrency projects.

Gotbit and the Token Price Manipulation Scheme
Andriunin, 26 years old, a Russian citizen, was arrested in October 2024 at the request of the US authorities. Subsequently, a Boston grand jury charged him with serious allegations such as online fraud, market manipulation, and financial fraud. If convicted, Andriunin could face a sentence of up to 25 years in prison.

Exchange-traded fund (ETF) in Delaware, potentially paving the way for future ETFs centered on the world’s largest memecoin. This move is seen as a significant development in the crypto space, with the possibility of heightened demand leading to a sharp rise in Dogecoin’s value. If the ETF captures even a fraction of the inflows seen by successful Bitcoin spot ETFs, it could propel DOGE to unprecedented levels.

The filing, made on January 22, registered the "Bitwise DOGECOIN ETF" as a statutory trust through the CSC Delaware Trust Company. While such filings are sometimes met with skepticism—citing past instances like the questionable BlackRock XRP ETF submission—Bloomberg's senior ETF analyst Eric Balchunas confirmed the authenticity of the Bitwise filing, assuring the community that it is a legitimate move toward a Dogecoin ETF. However, experts caution that this registration is just the first step. Bitwise still needs to file a detailed application with the SEC before any potential Dogecoin product could be launched in the market.

This development arrives at a time of growing institutional interest in crypto through regulated products. The filing aligns with the broader context of US digital asset regulation, which is expected to become more crypto-friendly under the leadership of President Donald Trump, sworn in as the 47th US President on January 20. Alongside Bitwise, other asset managers such as Osprey Funds and REX Shares have also submitted proposals for various crypto-related ETFs, including one based on Dogecoin.

With Dogecoin’s meteoric rise in popularity, largely driven by high-profile supporters like Elon Musk, crypto analyst Ali Martinez forecasts that the price of DOGE could skyrocket to as high as $15 if the SEC approves a spot market ETF for Dogecoin. Despite a recent decline in value, from $0.4318 to $0.35, the potential for Dogecoin’s price to surge remains strong, especially with institutional investment set to play a crucial role in its future.

#BitwiseETF #BitwiseDogeETF #DOGE原型柴犬KABOSU去世

🔔 MARKET MOVING NEWS! (27/12/24)

1️⃣ Hong Kong Stablecoins Bill Advances To The Legislative Council ▶️
#HongKongCrypto
Hong Kong’s proposed Stablecoins Bill has reportedly entered the Legislative Council, moving it closer to becoming law. Specifically, it must go through three readings, which comprise a series of debates, examinations and potential amendments. When the bill passes the third reading, it will be forwarded to the region’s chief executive, who can sign it into law. The bill was forwarded to the Legislative Council for its first reading on Dec. 18th.

2️⃣ Asset Manager Strive Files For ‘Bitcoin Bond’ ETF 💸
#bitcoinbond
Asset manager Strive is reportedly seeking permission from regulators to list an exchange-traded fund (ETF) investing in convertible bonds issued by MicroStrategy and other corporate Bitcoin buyers. The filing states that the Strive Bitcoin Bond ETF will be actively managed and gain exposure to Bitcoin bonds either directly or through financial derivatives such as swaps and options. Strive has not yet revealed the management fees investors will be charged. Notably, Strive was founded by Vivek Ramaswamy, an outspoken ally of President-elect Donald Trump.

3️⃣ Ethereum Co-Founder Vitalik Buterin 'Adopts' Viral Pygmy Hippo Moo Deng With $293,000 Donation To Thai Zoo 🦛
#VitalikButerin
Ethereum co-founder Vitalik Buterin has reportedly become the "adoptive father" of Moo Deng, a pygmy hippopotamus that became a viral internet sensation. The adoption follows Buterin’s donation of at least 10,000,000 Thai baht (roughly $293,000 USD or 88 ETH) to the Khao Kheow Open Zoo. The zoo stated that the donation will support "the operations of Khao Kheow Open Zoo, the Wildlife Sponsorship Program, and the development of a dedicated exhibit for Moo Deng and her family."

Acknowledging the adoption, Buterin tweeted,

On behalf of the whole Ethereum ecosystem, I would like to offer our thanks and a gesture of friendship to all of the country...What better way to do that than through a Christmas present to someone who is dear to all Thai people, Moo Deng, and who has become one of the most unexpected and important Thai celebrities on the world stage.

4️⃣ Bitwise Files For ETF Tracking Firms With Big Bitcoin Treasuries ‼️
#BitwiseETF
ETF issuer Bitwise has reportedly submitted a proposal to introduce a new fund designed to invest in companies “that have adopted the ‘Bitcoin standard.’” Specifically, the ETF seeks to invest in publicly traded companies that hold at least 1,000 BTC in their corporate treasuries. It also stipulates that the Bitcoin-holding firms in the ETF would be required to have a market capitalisation of at least $100 million, a minimum average daily liquidity of at least $1 million and a public free float of under 10%. The ETF named ‘the Bitwise Bitcoin Standard Corporations ETF’ will reportedly purchase shares in the qualifying companies weighted not by the companies' market capitalizations but by the value of their bitcoin holdings.

5️⃣ Tether Makes First Crypto VC Fund Investment Into Arcanum Capital 💰

Stablecoin issuer Tether has reportedly made an investment of $2 million into Arcanum Capital’s Arcanum Emerging Technologies Fund II - a tokenized investment vehicle specialising in decentralised Web3 projects. Notably, this also marks Tether’s first crypto venture capital fund investment. This is the latest in a string of diversification moves from the stablecoin issuer.
#CryptoAMA