Every week, we’ll quickly cover the biggest stories in crypto so that you’ll always be up to speed on the latest headlines. Quickly skim the headlines and if you see something that interests you, read up on it in full detail by clicking the source link.
Story of the Week
Bitcoin has been ranging in the lower half of the ascending channel for the past week. After briefly breaching the $42,000 levels on January 8th, and in the process, making a new all-time high – the world’s most prominent cryptocurrency has seen multiple rejections at the $41,000 levels before ultimately finding support around the $33,000 to $36,000 levels.
In the past seven days, Bitcoin is down 11.7% or down $4,812.68. At the time of writing, Bitcoin is trading at $36,308.
ICE’s Crypto Venture to Go Public Through a SPAC – Mon, 1/11
Intercontinental Exchange Inc. will merge with a special-purpose acquisition company to launch a consumer app for trading and making payments with digital assets. The venture called ‘Bakkt’ is expected to have a $2.1 billion valuation after completing the merger with VPC Impact Acquisition Holdings.
Goldman says BTC Starting to Mature but Institutional Money is a Tiny Fraction – Tue, 1/12
“I think the market is beginning to become more mature,”
“I think in any nascent market you get that volatility and those risks that are associated with it.”
“The key to creating some type of stability in the market is to see an increase in the participation of institutional investors and right now they’re small,” he said, adding that, of the more than $600 billion invested in bitcoin right now, “roughly 1% of it is institutional money.”Jeff Currie, Head of Commodities Research, Goldman Sachs
Winklevoss’ Gemini Backs New Bitcoin ETF Application in Canada – Wed, 1/13
Arxnovum Investments Inc filed documents for the “Arxnovum Bitcoin ETF.” The ETF is to be listed on the Toronto Stock Exchange (TSX) under the ticker “BIT.U.” and will accommodate investors with bitcoin exposure by investing in bitcoin, bitcoin futures contracts, or other derivative instruments.
Read More: Winklevoss’ Gemini Backs New Bitcoin ETF Application in Canada on uToday
Gemini Acquires Blockrize, Launching a Credit Card with Up to 3% Rewards in BTC – Thu, 1/14
“It’s a great way for customers to invest in crypto, get exposure to the asset class, and then be able to sort of get the gains almost like a passive investment,”
Read More: Gemini acquires Blockrize, launching a credit card with up to 3% rewards in bitcoin on The Block
CME Releases Details on Upcoming Ethereum Contract – Fri, 1/15
Chicago Mercantile Exchange Inc. (“CME” or “Exchange”) will list the Ethereum Futures contract (the “Contract”) for trading on the CME Globex electronic trading platform (“CME Globex”) and for submission for clearing via CME ClearPort pending all relevant CFTC regulatory review periods,
Read More: PDF on CME Group
Big Institutions Are Only Interested in BTC, Says NYDIG CEO – Sat, 1/16
“100 out of 100 of the last conversations I’ve had with investors seriously looking to allocate, let’s say over 50 million dollars, 100% of those conversations have been about Bitcoin, and 0% of them have been about any other crypto asset.”
“The idea of an open-source money–that’s a really powerful idea and solves, in our opinion, a fundamental societal challenge.”NYDIG Chief Executive, Robert Gutmann
Read More: Big institutions are only interested in bitcoin, says NYDIG CEO on The Block
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