CoinClub

Shibarium, the layer-2 network for Shiba Inu ($SHIB ), is set to start burning #SHIB tokens from January 2024 onwards. The burned tokens will be sent to a dead wallet, never to be recovered again. The burning process will be automatic and will be triggered after the network collects a total of $25,000 in fees from users. 70% of the fees will be used to burn SHIB, while the remaining 30% will be allocated to maintain the network says #CoinClub . The aim of the token burning is to reduce the circulating supply of SHIB, making the token more scarce and potentially impacting its price. While the exact amount of SHIB tokens to be burned in January 2024 is not specified in the #cryptonews search results, one community member mentioned that Shiba Inu will burn over 100 trillion tokens this year, with 9 trillion being burned in January alone.Another source suggested that 10 trillion #crypto tokens could be burned in January 2024.Vote for #CoinClub for the Binance Square Creator of the Year Award Now!Vote here !

The U.S. Securities and Exchange Commission (SEC) is on the brink of approving a spot #bitcoin ETF after 10 years of failed applications.Multiple asset managers have applied for permission to launch spot bitcoin ETFs since 2013, but the SEC has rejected them, arguing that the products could not be approved due to various concerns.However, industry watchers and analysts are mixed on what will happen in the #crypto market if approval is granted.Some of the key points to consider ahead of the decision include:At least one of the more than a dozen current proposals is expected to be approved.Gabor Gurbacs, the director of digital assets strategy at VanEck, predicts that a spot #etf will create "trillions in value" over the long term, but initial flows will be smaller than expected.QCP Capital, a Singapore-based crypto trading firm, suggests that initial demand for the ETFs could be lower than anticipated, setting the stage for a potential sell-the-news scenario.The SEC must approve the rule changes before the product can trade, with the Ark/21Shares #BTC Trust facing a deadline of January 10 for its filing.Industry watchers and executives have argued that the SEC's August court loss to Grayscale Investments put more pressure on the regulator to approve.Some analysts believe the SEC could delay the decision, while others are more optimistic about the approval date.Overall, the SEC's decision on spot bitcoin ETFs is highly anticipated, with various outcomes being predicted by different industry watchers and #CoinClub .

Several asset managers, including BlackRock, Ark Invest, VanEck, and others, have filed amended Form S-1s with the U.S. Securities and Exchange Commission (SEC) in the final step toward potential approval of a spot Bitcoin exchange-traded fund (#etf ). The amended filings include details such as sponsor fees and the identities of market makers, which are essential for the SEC's consideration. While the filings indicate a significant push for the approval of spot #BTC ETFs, it's important to note that approval is not guaranteed for any asset manager at this time. The SEC is expected to review the filings and make a decision, with the potential for trading to begin soon after approval. The amended S-1 submissions are seen as a positive sign for the prospects of spot #Bitcoin ETFs, but the final decision rests with the SEC.The recent amended S-1 filings by various asset managers, including BlackRock, Ark Invest, and others, for spot Bitcoin ETFs indicate a significant step toward potential approval noticed by #CoinClub . The filings include essential details such as sponsor fees and the identities of market makers, which are crucial for the SEC's consideration. While this is a positive development, it's important to note that approval is not guaranteed at this stage. The SEC will review the filings and make a decision, and if approved, #trading could begin shortly after. The filings are seen as a positive sign for the prospects of spot Bitcoin ETFs, but the final decision rests with the SEC.