Daily Report ｜ BlackRock believes the SEC will approve its spot Bitcoin ETF before January; UBS will allow wealthy clients to trade three crypto ETFs authorized by the Hong Kong Securities and Futures Commission
The U.S. bankruptcy court has approved Celsius's transformation into a Bitcoin mining company, pending SEC approval; MicroStrategy holds over 158,000 Bitcoins, with an unrealized profit of over $1.1 billion.整理：Mia, ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. Fox Reporter: BlackRock Believes SEC Will Approve Its Spot Bitcoin ETF Before January
Fox reporter Charles Gasparino stated on the X platform that BlackRock is increasingly confident that the SEC will approve its spot Bitcoin ETF before January. (Source link)
2. Bloomberg: UBS to Allow Wealthy Clients to Trade Three Crypto ETFs Authorized by the Hong Kong Securities and Futures Commission
According to Bloomberg, UBS Group, along with competitors like HSBC, will allow Hong Kong clients to trade some exchange-traded funds linked to cryptocurrencies. Insiders say that starting Friday, wealthy clients will be able to purchase three cryptocurrency ETFs authorized by the Hong Kong Securities and Futures Commission on UBS Hong Kong's platform: Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETF.
The CSOP Bitcoin Futures and CSOP Ether Futures were hailed as Asia's first listed Bitcoin and Ethereum futures ETFs when they launched last December. The total assets of these two funds and Samsung's investment tool are relatively small, around $70 million.
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3. MicroStrategy Holds Over 158,000 Bitcoins, Unrealized Profit Exceeds $1 Billion
MicroStrategy currently holds over 158,000 Bitcoins, with a total value of $5.7 billion, accounting for 80% of its stock market value ($7.1 billion). Additionally, the unrealized gains exceed $1 billion, with a profit margin of about 25%. (Source link)
4. U.S. Bankruptcy Court Approves Celsius's Transformation into a Bitcoin Mining Company, Still Needs SEC Approval
According to Bloomberg, the U.S. bankruptcy court has approved the transformation of the crypto lending company Celsius Network LLC into a Bitcoin mining company owned by creditors, as part of a proposal to repay customers whose accounts have been frozen for over a year. Approximately $2 billion worth of Bitcoin and Ethereum will be redistributed to Celsius creditors along with equity in NewCo. Celsius's lawyers stated that the platform may begin asset distribution early next year.
The transformation plan must also receive SEC approval, and if everything goes as planned, the new company will go public. If the proposal is not approved, Celsius may turn to liquidation. The judge urged the SEC to make a swift decision regarding Celsius's transformation plan. (Source link)
"What Exciting Articles Are Worth Reading in the Last 24 Hours"
1. “BRC20 Intensifies CEX Competition with Web3 Wallets, Binance and Others Join In”
Built-in Web3 wallets in centralized exchanges are becoming a trend. Following OKX's integration of a Web3 wallet, Binance and Bitget announced their built-in Web3 wallets this week; gate.io has not directly announced a built-in Web3 wallet but has released its own Web3 wallet. Previously, Bybit had already integrated a Web3 wallet.
The recent intensive launch of Web3 wallets by centralized exchanges, including built-in Web3 wallets, is hard not to speculate as a product driven by OKX's Web3 wallet. This week, as BRC20 surged again, OKX experienced a traffic bonus due to its Web3 wallet. According to Dune data, with the trading volume of Bitcoin Ordinals skyrocketing, on November 8, the daily trading volume of OKX's Web3 wallet's Ordinals exceeded $12 million, capturing over 75% of the market share. The price of OKB also broke $58, reaching a new historical high.
2. “GAS Token Rises 50% in a Day, Is It the Power of South Korea Again?”
The long-established public chain Neo's token NEO once created the myth of a thousandfold increase and was the first to introduce the Byzantine fault tolerance mechanism to public chains. Now, another token of the public chain Neo, GAS, has risen about 650% last month and today (November 9) rose another 50%. Besides the token NEO, what exactly is the GAS token, and what has triggered its surge?
According to The Block data, in October, the cumulative trading volume of crypto CEX reached $443.27 billion, while South Korea's Upbit had a spot trading volume of $51.88 billion in October, ranking second.
South Korea's Upbit has risen to become the second-largest CEX, reflecting the strong demand in the country's crypto market. In fact, looking at the data in recent years, the South Korean market has always been one of the most active forces in the crypto market. Despite the global economic downturn in 2022, its user base and trading volume continue to expand.
So how has South Korea's crypto market developed, and what is its current state of development?
