<h2>Routine Asset Moves Amid Speculation</h2>World Liberty Financial (WLFI), a&nbsp;<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a> platform associated with U.S. President-elect Donald Trump, has sought to calm concerns over recent large-scale&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> transfers. On January 15, the project addressed reports that it had shifted $60 million in&nbsp;<a href="https://coin360.com/coin/ethereum-eth">ETH</a>, asserting these were routine asset reallocations rather than sell-offs.A statement from WLFI&nbsp;<a href="https://x.com/worldlibertyfi/status/1879281650468823165">emphasized</a> that the organization is not liquidating tokens but instead optimizing its treasury operations. The declaration aimed to dispel any speculation, outlining that the adjustments were standard practice for maintaining treasury strength and efficiency.&nbsp;<figure class="image"><img alt="tweet-1879281650468823165_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1879281650468823165_11zon_7d7e17e680.jpg"></figure><a href="https://coin360.com/glossary/blockchain">Blockchain</a> analytics firm Lookonchain, which initially&nbsp;<a href="https://x.com/lookonchain/status/1879341156351533331">spotlighted</a> the movements, had traced the conversion of 103&nbsp;<a href="https://coin360.com/coin/wrapped-bitcoin-wbtc">Wrapped Bitcoin</a> (<a href="https://coin360.com/coin/wrapped-bitcoin-wbtc">WBTC</a>), worth nearly $9.89 million, into 3,075 Ethereum (ETH). Subsequently, WLFI deposited roughly $59.8 million in ETH to&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a>. The transactions also included a $1.7 million&nbsp;<a href="https://coin360.com/coin/tether-usdt">Tether</a> (<a href="https://coin360.com/coin/tether-usdt">USDT</a>) purchase of 17.62 WBTC, priced at $96,491 per token.<figure class="image"><img alt="lookonchain.webp" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/lookonchain_58d4df1f57.webp"></figure>These moves come as WLFI recently expanded its DeFi holdings, acquiring tokens from protocols like&nbsp;<a href="https://coin360.com/coin/aave-aave">Aave</a>,&nbsp;<a href="https://coin360.com/coin/chainlink-link">Chainlink</a>, and&nbsp;<a href="https://coin360.com/coin/ondo-ondo">Ondo</a>. However, this aggressive portfolio management has not been without setbacks. According to Lookonchain’s analysis, WLFI’s recent reallocation efforts have incurred a $5 million loss. Nevertheless, data from&nbsp;<a href="https://coin360.com/coin/arkham-arkm">Arkham</a> Intelligence <a href="https://intel.arkm.com/explorer/entity/worldlibertyfi">indicates</a> that WLFI’s&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> still holds approximately $17.5 million in assets.<figure class="image"><img alt="Screenshot_2.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_2_43195cca7b.png"></figure>This activity is WLFI’s most notable since December, a period when it broadened its portfolio and received community approval for deploying a custom Aave v3 instance. While WLFI has kept a low profile on social media, it remains committed to its vision as a lending, borrowing, and investing hub for digital assets.&nbsp;Despite initial fundraising hurdles—reducing a <a href="https://coin360.com/news/wlfi-token-sale-troubles">$300 million target</a> to $30 million—the project reached its goal with backing from notable crypto investor Justin Sun. Following Trump’s November election victory, the initiative saw an 81% jump in token profits, now amounting to $80.2 million, per <a href="https://dune.com/seoul/wlfi">Dune Analytics</a>.As the project moves forward, its treasury strategy and market performance will likely stay under close watch, particularly as it balances operational costs against ambitious growth targets.This article has been refined and enhanced by ChatGPT.

Humanoid robot vaulting glowing digital landscape

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Trump-Linked World Liberty Financial Clarifies $60 Million ETH Shift

<h2>Government Requests Forfeited Bitcoin Be Returned to Bitfinex</h2>A&nbsp;<a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.257737/gov.uscourts.dcd.257737.202.0.pdf">legal filing</a> submitted on January 14 by attorneys for the U.S. government seeks to return cryptocurrency seized from the infamous 2016&nbsp;<a href="https://coin360.com/exchange/bitfinex">Bitfinex</a> hack to the exchange. The motion outlines the transfer of 94,643&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a>, along with&nbsp;<a href="https://coin360.com/coin/bitcoin-cash-bch">Bitcoin Cash</a>, Bitcoin Satoshi Vision, and Bitcoin Gold generated from hard forks, back to Bitfinex on an in-kind basis. The case has reignited debate over the cryptocurrency exchange’s past compensation strategy and the legal standing of affected account holders.In 2016, hackers made off with 119,754 BTC from Bitfinex, a haul then valued at $72 million. Over time, the value of these stolen funds has skyrocketed to more than $11.8 billion, making this one of the most significant cryptocurrency thefts in history. Following the breach, Bitfinex implemented an emergency recovery plan that initially reduced user account balances by 36%, compensating those losses with newly issued BFX tokens.&nbsp;<figure class="image"><img alt="01946afb-41a5-7a39-9a87-5afd0b571b24.webp" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/01946afb_41a5_7a39_9a87_5afd0b571b24_086bd6af2b.webp"></figure>These tokens, which could be redeemed for iFinex shares or fiat currency based on the 2016 valuation, were fully reimbursed to users within eight months, effectively satisfying government requirements for victim restitution.However, the complexity of the case lies in the classification of victims. The U.S. government’s recent filing noted that many customers who suffered losses during the hack and subsequent recovery plan no longer qualify as eligible claimants. Even so, the government has invited those who believe they were impacted to submit statements about their losses by November 13, 2024.&nbsp;Notices have been distributed to ensure that any remaining claimants, including former Bitfinex account holders, are aware of their legal options. As the legal proceedings unfold, the question of how to define a victim—and how to ensure fair compensation—remains at the forefront of the cryptocurrency industry’s ongoing effort to navigate unprecedented security and legal challenges.This article has been refined and enhanced by ChatGPT.

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US Government Orders Return of 2016 Hack Funds to Bitfinex

<h2>Founder Rebukes Claims, NFT Prices Climb</h2>Greg Solano, a co-founder of Yuga Labs, has openly dismissed growing speculation that the company plans to sell off the intellectual property rights to&nbsp;<a href="https://coin360.com/nft/0x282bdd42f4eb70e7a9d9f40c8fea0825b7f68c5d">CryptoPunks</a>. The rumor, first sparked by&nbsp;<a href="https://coin360.com/nft">NFT</a> researcher&nbsp;<a href="https://x.com/waleswoosh/status/1879224522324562055">Wale Moca</a> on X (formerly Twitter), ignited a wave of discussion among collectors and enthusiasts, with Moca claiming multiple sources confirmed the potential IP sale.&nbsp;<figure class="image"><img alt="tweet-1879224522324562055_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1879224522324562055_11zon_6cc0902e69.jpg"></figure>Solano quickly&nbsp;<a href="https://x.com/CryptoGarga/status/1879364643509916050">countered</a>, labeling the claims baseless and reaffirming his commitment to the collection’s legacy. His response sought to reassure the CryptoPunks community that their cultural icon wasn’t going anywhere—at least not under terms that might undermine its historical significance or long-term value.<figure class="image"><img alt="tweet-1879364643509916050_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1879364643509916050_11zon_be89a0bc7b.jpg"></figure>This pushback from Solano coincided with a noticeable jump in market activity for CryptoPunks. The collection’s floor price surged more than 15% within 24 hours, moving from 34&nbsp;<a href="https://coin360.com/coin/ethereum-eth">ETH</a> to a high of 40.39 ETH. Trading volume also experienced a pronounced increase, with 28 transactions recorded over the same period—a stark contrast to the typically sluggish activity seen in the broader NFT market. Such movements demonstrate CryptoPunks’ continued status as a key player in the NFT ecosystem, where mere whispers of change can drive significant financial and cultural ripples.As rumors swirled, industry observers speculated on the potential buyers who might emerge if a sale were to occur. Some conjectured that a group of collectors or a single, highly invested individual—like prominent NFT figure @seedphrase—might step in to ensure the CryptoPunks brand remained intact. The latter’s&nbsp;<a href="https://x.com/seedphrase/status/1879233151601651725">cryptic social media post</a> only added to the buzz.&nbsp;<figure class="image"><img alt="tweet_1879233151601651725_20250116_025747_via_10015_io.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1879233151601651725_20250116_025747_via_10015_io_9f19ee4674.png"></figure>Meanwhile, competitors like&nbsp;<a href="https://coin360.com/nft/0xed5af388653567af2f388e6224dc7c4b3241c544">Azuki</a> and&nbsp;<a href="https://coin360.com/coin/pudgy-penguins-pengu">Pudgy Penguins</a> lagged behind, with base prices far below CryptoPunks’ valuation. Still, the NFT market overall has struggled in 2024’s shifting blockchain landscape, leaving even the most iconic collections grappling with reduced liquidity on&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> as&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> gains momentum.Yuga Labs appears well-aware of the challenges and the responsibilities tied to maintaining CryptoPunks’ stature. The company plans to release a book chronicling the collection’s impact, further cementing its role as a cultural touchstone. Solano’s comments underscore this long-term vision, emphasizing careful curation over short-term financial gains. As the CryptoPunks community digests these developments, it’s clear that Yuga Labs remains steadfast in preserving what many consider the crown jewel of the NFT world.This article has been refined and enhanced by ChatGPT.

Cubic-styled robot dancing among floating CryptoPunks avatars 

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Yuga Labs Denies CryptoPunks Copyright Sale Rumors, NFT Prices Surge

<h2>Trump to Prioritize Crypto Policies on Inauguration Day</h2>On January 20, 2025, President-elect Donald Trump is&nbsp;<a href="https://watcher.guru/news/donald-trump-to-issue-executive-crypto-policy-orders-on-first-day-in-office">expected</a> to prioritize crypto policies via executive orders, repealing rules like accounting standards treating digital assets as liabilities and considering Bitcoin a strategic reserve asset with a $21 billion allocation. Supported by pro-crypto appointees like SEC Chair Paul Atkins, Trump’s administration aims to foster growth and shield investors from bureaucratic hurdles.&nbsp;Preceding this, a January 17 VIP Crypto Ball offers $100,000 tickets or $1 million packages, including private dinners, to bolster industry connections. Circle contributed $1 million in USDC to Trump’s inaugural committee, as crypto executives lobby for advisory roles. David Sacks, an early Bitcoin backer, is set to become Chief Technology Officer.&nbsp;<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>New Hampshire and North Dakota Propose Bills for Strategic Bitcoin Reserves</h2>New Hampshire and North Dakota have recently introduced legislation aimed at creating a strategic&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> reserve, as part of a broader initiative to integrate cryptocurrency into state financial strategies. In New Hampshire, the bill was introduced by Republican Representative Keith Ammon and&nbsp;<a href="https://x.com/Dennis_Porter_/status/1877757532305039502">refers to</a> “digital assets” rather than explicitly mentioning Bitcoin. This approach aims to ease political tensions. Meanwhile, North Dakota's legislation is supported by Representatives Nathan Toman and Josh Christy, alongside Senator Jeff Barta, and boasts 11 sponsors. Additionally, Pennsylvania introduced a similar proposal in November, with Representative Mike Cabell highlighting Bitcoin’s potential as a hedge against inflation. Interest in Bitcoin reserves has surged following Donald Trump's promise to make the U.S. a cryptocurrency leader if elected. Current market sentiment suggests only a 27% chance that Trump will establish a Bitcoin reserve within his first 100 days, which reflects a decrease from 45% in November.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>FDIC's Travis Hill Calls for Policy Shift on Crypto Banking Restrictions</h2>FDIC Vice Chair Travis Hill has&nbsp;<a href="https://beincrypto.com/operation-chokepoint-fdic-crypto-policies/">criticized</a> past federal restrictions on banks’ involvement in cryptocurrency, including the controversial use of “pause letters” that hindered innovation and perception of regulatory obstruction. He called for an end to tactics reminiscent of “Operation Choke Point,” which pressured banks to limit services to certain industries, urging clearer guidelines for safe engagement with digital assets. Hill emphasized the need for balanced regulations that enable banks to evolve while managing risks effectively. He highlighted a lack of transparent standards for handling cryptocurrencies, referring to a 2023 FDIC report that disclosed multiple “pause letters” sent to banks. Furthermore, Hill indicated that existing Bank Secrecy Act policies incentivize banks to shut accounts over compliance fears, underlining the need for a reevaluation of these approaches. The ongoing push for fair treatment of the crypto sector is reinforced by legal actions from industry leaders demanding better regulatory practices.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Trump Establishes Crypto Advisory Council to Shape New U.S. Digital Asset Policies</h2>President-elect Donald Trump is establishing a new&nbsp;<a href="https://twitter.com/CswapIntern/status/1878778594693898245">crypto advisory council</a>, comprising approximately 24 CEOs and founders, to shape U.S. digital asset policies and draft pro-crypto legislation. This initiative aims to create a strategic Bitcoin reserve and collaborate with major agencies like the SEC, CFTC, and Treasury to develop a clear regulatory framework, addressing the ongoing regulatory uncertainties in the crypto sector.&nbsp;Key figures, such as Crypto.com CEO Kris Marszalek and Circle CEO Jeremy Allaire, have actively engaged with Trump, with Allaire contributing $1 million in USDC to support crypto initiatives. Bo Hines, a former congressional candidate, has been appointed to lead the council alongside David Sacks, Trump’s AI and crypto czar, focusing on fostering innovation in the digital asset realm. To rally industry support, a black-tie event named the “Inaugural Crypto Ball” is scheduled for January 17th in Washington, D.C. This signals a proactive approach to U.S. crypto policy under Trump's leadership.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Singapore Bans Polymarket Amid Crackdown on Unlicensed Online Gambling</h2>Singapore has officially restricted access to the prediction marketplace Polymarket as part of a national crackdown on unlicensed online gambling. This initiative has already led to the shutdown of over 3,800 gambling websites since the start of 2025, with more than $37 million worth of transactions blocked. On January 12, Singapore's Gaming Regulatory Authority (GRA) warned users that Polymarket is illegal, imposing penalties that could include fines of up to SGD 10,000 (approximately $7,200) and six months in prison.&nbsp;Residents wishing to engage in online betting must use Singapore Pools, the only licensed online gambling provider in the country. The restriction aligns Singapore with jurisdictions such as Taiwan, France, and the U.S., which have also taken measures against Polymarket following its rising popularity during the 2024 presidential election. Notably, Taiwan prosecuted an individual for political betting on the platform, showcasing the stringent regulatory environment surrounding online gambling.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>New York and Bank of England Launch Collaborative Initiative to Harmonize Global Crypto Regulations</h2>The New York Department of Financial Services (NYDFS) and the Bank of England (BOE) have&nbsp;<a href="https://www.dfs.ny.gov/reports_and_publications/press_releases/pr20250113">initiated</a> the Transatlantic Regulatory Exchange (TRE) to harmonize global crypto regulations. Scheduled to begin in February 2025, this collaborative program promotes the sharing of expertise through a staff exchange involving experienced professionals in digital payments and distributed ledger technology, lasting at least six months with potential extension up to one year. NYDFS Superintendent Adrienne A. Harris emphasized that the partnership enhances regulatory frameworks while safeguarding consumers and fostering innovation.&nbsp;Sarah Breeden, BOE Deputy Governor, highlighted the initiative's role in bolstering financial stability. This collaboration seeks to&nbsp;<a href="https://coin360.com/glossary/address">address</a> the complexities of digital asset regulation, creating a secure and innovative framework that clarifies the global financial ecosystem. Through TRE, both regulators aim to improve their capabilities in managing the evolving landscape of digital finance, enhancing global coordination in regulatory practices.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Senator Elizabeth Warren Calls for Stricter Crypto Regulations Citing National Security Concerns</h2>Senator Elizabeth Warren has publicly called for stricter regulations on cryptocurrencies, citing national security concerns related to their misuse by malicious actors. In her January 12&nbsp;<a href="https://www.warren.senate.gov/imo/media/doc/final_-_letter_to_scott_bessent_ahead_of_finance_nomination_hearing2.pdf">letter</a>, she urged the Treasury Department to enhance Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations, referencing instances such as North Korea's nuclear activities and ransomware attacks. Warren called for the expansion of the Bank Secrecy Act (BSA) to encompass global firms serving U.S. clients to ensure comprehensive regulatory coverage.&nbsp;The crypto community is divided on her proposals, with some accusing her of leveraging security issues to broaden regulatory reach. Warren's track record includes introducing the Digital Asset Anti-Money Laundering Act in 2022 and 2023. As the Trump administration takes a more pro-crypto stance, her position may introduce significant challenges, emphasizing the ongoing tension between innovation and regulation in the sector, which awaits new initiatives from Congress and the Treasury Department.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Trump's SEC to Overhaul Crypto Policies, Focus on Fraud Accountability and Non-Fraud Litigation</h2>On January 15, 2025,&nbsp;<a href="https://www.theblock.co/post/334823/sec-leadership-shakeup-likely-to-begin-agency-crypto-reset-in-new-trump-administration-reuters">reports</a> highlighted major changes at the SEC under President-elect Donald Trump. Republican commissioners Hester Peirce and Mark Uyeda are preparing to review crypto enforcement cases, clarify crypto asset classifications, and reshape policies with a focus on fraud accountability. Incoming SEC Chair Paul Atkins, known for crypto-friendly views, is expected to reverse the enforcement-heavy approach of outgoing Chair Gary Gensler, including the withdrawal of some non-fraud litigation.&nbsp;The agency may rescind restrictive crypto custody rules for public companies, aligning with Trump’s pro-crypto stance. Under Gensler, the SEC launched 83 crypto-related actions, targeting firms like&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a> and Kraken. Critics warn revising settled cases could face legal hurdles. Trump’s administration plans public consultations on token classifications, promising strategic crypto support, including executive orders for regulatory reassessment.&nbsp;<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Thailand Bans Polymarket for Illegal Gambling, Pursues Bitcoin ETFs and Crypto Payments</h2>Thailand announced plans to ban Polymarket, labeling it illegal online gambling due to its unregulated cryptocurrency betting activities, mirroring recent actions by Singapore, the U.S., France, and Taiwan. Concurrently, Thailand is exploring approval for Bitcoin ETFs to position itself as a digital asset hub. The SEC is considering allowing local exchanges to list ETFs, expanding beyond exposure funds launched in 2024. Additionally, Thailand plans a pilot for crypto payments in Phuket, and the government debates legalizing gambling, potentially recovering $4 billion in taxes. Despite these developments, Thailand's active crypto accounts stood at 270,000 in November 2024, below peak levels from the 2022 crypto slump.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>South Korea Advances Crypto Regulation Phase Two, Enhancing Transparency and User Protection</h2>South Korea’s Financial Services Commission (FSC) convened to progress the second phase of its crypto regulatory framework. This phase aims to enhance transparency, bolster user protection, and regulate&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> by aligning with global standards like the EU's MiCA. Discussions included periodic disclosure systems akin to capital markets, while local exchange&nbsp;<a href="https://coin360.com/exchange/upbit">Upbit</a> faced scrutiny over 600,000 potential KYC violations. Corporate crypto investments, heavily anticipated, were postponed as the FSC nears policy completion; real-name trading accounts for corporations are projected for 2025. Meanwhile, South Korea's first crypto law in 2024 tackled unfair trading and deposit safeguards, with the second phase targeting gaps in issuance, distribution, and disclosure. The regulatory shift seeks to balance innovation and stability as South Korea strengthens its position as a global crypto hub.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Malaysia's PM Discusses Crypto Regulation Framework with Binance Founder and UAE Officials</h2>Malaysia’s Prime Minister, Datuk Seri Anwar Ibrahim, recently engaged in discussions with&nbsp;<a href="https://coin360.com/review/binance">Binance</a> founder Changpeng Zhao and UAE officials to explore potential cryptocurrency regulatory frameworks aimed at modernizing the nation's financial system. Anwar emphasized the need for swift adaptation to ensure Malaysia does not lag behind in digital finance, marking this initiative as a "radical departure from old ways." The plan involves comprehensive studies by key authorities, including the Treasury, Securities Commission, and Bank Negara Malaysia, to address potential concerns and establish competency in this rapidly evolving sector.&nbsp;While digital assets are categorized as securities under the existing legal framework and the ringgit remains the sole legal tender, Malaysia faces challenges including tax evasion and illegal cryptocurrency mining. Experts advocate for clearer and more consistent legislation to enhance regulation in the digital space, reflecting the urgent need for a robust framework to support the growth of digital finance in the country.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Dubai Unveils "Crypto Tower" to Boost Blockchain Businesses and Innovation</h2>Dubai is set to construct a "<a href="https://www.khaleejtimes.com/business/realty/dubai-to-get-new-landmark-crypto-tower-to-be-completed-in-2027?_refresh=true">Crypto Tower</a>," a pioneering development designed to foster blockchain businesses. Officially announced by the Dubai Multi Commodities Centre (DMCC), the project aims to enhance the digital asset ecosystem with 150,000 square feet of leasable space. It will encompass nine floors dedicated to office space for crypto startups and established firms, alongside specialized floors for blockchain incubators, venture capital firms, and AI innovation.&nbsp;Noteworthy features include a 10,000-square-foot indoor event space, a 3,500-square-foot outdoor area for events, and a 30,000-square-foot crypto club. Additional amenities will comprise an&nbsp;<a href="https://coin360.com/nft">NFT</a> art gallery, a gold bullion shop, an exotic car dealership, and a secure 5,000-square-foot vault for valuables like gold and cold wallets. This initiative aligns with Dubai's strategy to position itself as a global crypto hub, supported by a forward-thinking regulatory environment.This article has been refined and enhanced by ChatGPT.

Humanoid robot presents crypto law tablet on a digital courtroom

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Crypto Regulations in Focus: U.S. States and FDIC Take Action

<h2>SEC Delays Bitwise 10 Crypto ETF Decision to March 2025</h2>The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the Bitwise 10 Crypto Index ETF, extending the review period to March 3, 2025, from the original deadline of January 17, 2025. The fund aims to track major cryptocurrencies by&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market capitalization</a>, including Bitcoin,&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>, and&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a>, and has been managed by Bitwise since 2018. The proposal, submitted by NYSE Arca on November 14, 2024, received no public comments after its publication on December 3.&nbsp;Analysts anticipated this delay due to the SEC's cautious approach, with potential implications for other crypto ETFs pending approval. The decision is particularly significant as it could signal a major shift in cryptocurrency regulation and investment vehicles, enabling broader market participation. Additionally, Bitwise has filed for a new "Bitcoin Standard Corporations ETF," focusing on companies holding substantial Bitcoin reserves, emphasizing the SEC's balance between innovation and investor protection.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Osprey Funds Plans to Convert Bitcoin Trust into Spot ETF After Bitwise Deal Fails</h2>Osprey Funds intends to convert its Osprey Bitcoin Trust (OBTC) into a spot Bitcoin exchange-traded fund (ETF) following the termination of a pending acquisition deal with Bitwise due to regulatory hurdles. The firm plans to file a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) imminently, with expectations for submission by the end of January 2025. Currently, OBTC manages $181 million in assets, tracking Bitcoin's price without holding the actual asset.&nbsp;Osprey’s shares have seen significant growth, up 151% over the past year, although still below their all-time high of $50. The competitive landscape includes 32 Bitcoin ETFs in total in the U.S., with only 11 being spot ETFs, reflecting active market developments. CEO Greg King emphasizes the firm's commitment to achieving ETF status for its investors, underscoring this initiative as the most secure path forward.This article has been refined and enhanced by ChatGPT.

Robot leaps with Bitcoin token in blockchain-hued financial hub

Crypto ETF Developments: SEC Delays Bitwise, Osprey Targets Spot Approval

SEC Delays Bitwise 10 Crypto ETF Decision to March 2025

Osprey Funds Plans to Convert Bitcoin Trust into Spot ETF After Bitwise Deal Fails

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Trump-Linked World Liberty Financial Clarifies $60 Million ETH Shift

US Government Orders Return of 2016 Hack Funds to Bitfinex

Yuga Labs Denies CryptoPunks Copyright Sale Rumors, NFT Prices Surge

Crypto Regulations in Focus: U.S. States and FDIC Take Action

Crypto ETF Developments: SEC Delays Bitwise, Osprey Targets Spot Approval