PA Daily | Grayscale and CoinShares submit regulatory documents to propose to launch ETFs that track XRP, Litecoin and Solana; A16Z plans to reduce investment in the British crypto industry, focusing on the United States to the United States
Reprinted from panewslab
01/25/2025·3MToday’s news tips:
1. Grayscale and CoinShares file regulatory filings, proposing to launch ETFs tracking XRP, Litecoin and Solana
2. Nasdaq applies to SEC to allow physical transfer of iShares Bitcoin Trust
3. SoSoValue airdrop is now open to qualified users.
4. Justin Sun accused XCN of being involved in market manipulation and called on major exchanges to pay close attention to related risks.
5. MicroStrategy may face billions of dollars in tax issues next year
6.a16z plans to scale back its cryptocurrency investments in the UK and shift its focus back to the US market
7. Part of the money paid after Ledger was kidnapped has been frozen, and French police arrested 10 suspects
8. Coinbase International Station will launch TOSHI, GIGA and GRT perpetual contract transactions
Regulation/Macro
Grayscale and CoinShares file regulatory filings to launch ETFs tracking XRP, Litecoin and Solana
CoinShares filed registration statements for the "CoinShares Litecoin ETF" and the "CoinShares XRP ETF." The New York Stock Exchange issued a 19b-4 filing for “Grayscale Litecoin Trust.” The NYSE also issued a 19b-4 filing for Grayscale Solana Trust. Both Grayscale filings include information about converting the trust into a spot ETF.
Nasdaq files with SEC to allow physical transfer of iShares Bitcoin Trust
The Nasdaq Stock Market (Nasdaq) submitted a rule change proposal to the U.S. SEC to update the regulations for the iShares Bitcoin Trust. This update will allow the transfer of trust bitcoins as a “physical transfer.”
According to the new document, “The exchange now proposes to amend the statements in the previous rule document regarding the trust creation and redemption process in order to list and trade the shares and, in particular, to allow for in-kind transfers of Bitcoin from the trust.” “The proposed in-kind transfer process would become the trust’s Alternatives to current cash creation and redemption processes.”
Bloomberg ETF analyst James Seyffart tweeted that the potential revision process does not mean that individual investors will be able to conduct "physical" redemptions and creations, only authorized participants.
House Oversight Committee Chairman James Comer is investigating recent reports that financial institutions have canceled the bank accounts of legitimate U.S. businesses and individuals based on political affiliation. In addition, Fox reporter Eleanor Terrett tweeted that the U.S. Senate Banking Committee will hold a hearing on February 5 to focus on the issue of banks’ “de-banking” of cryptocurrency companies.
U.S. Senator Cynthia Lummis releases image of "laser eye" symbolizing Bitcoin supporters
U.S. Senator Cynthia Lummis posted a picture of a "laser eye" symbolizing Bitcoin supporters on the X platform, with the text "Please allow me to reintroduce myself."
Project news
The SoSoValue airdrop is now open to qualified users.
SoSoValue announced that the first quarter airdrop of $SOSO is now open for application. The airdrop application has been open for 4 months. The number of qualified users in the first quarter has reached 200,000. The allocation of $SOSO is 1.5%. According to the latest financing valuation, the value of this quarter’s airdrop Over 15 million US dollars. The maximum airdrop amount for a single user is approximately $120,000 worth of $SOSO.
According to the 2024 ecosystem year-end report officially released by TON, the following achievements are summarized:
- • 36.2 million new wallets added
- • Average daily active wallets reached 1.8 million
- • More than 1,700 mini program developers earn $60 million through Telegram Stars program
- • Processes up to 40 million active addresses per month
Looking forward to 2025, TON plans to launch TON Teleport BTC to achieve seamless Bitcoin integration, launch Society DAO to enhance community participation, and launch more advanced Telegram collaboration tools.
Justin Sun posted on the social media platform that he accused the XCN (@Chain) project of conducting major market manipulation activities, using high leverage and contracts that may cause serious damage to users of multiple exchanges. He called on major exchanges (including Coinbase, Kraken, Bybit, KuCoin, and HTX) to pay close attention to related risks, and said that they would report their illegal activities to the U.S. SEC and the Department of Justice (DOJ) for further investigation.
MicroStrategy may face billions of dollars in tax problems next year
According to Solid Intel reports, MicroStrategy is facing tax issues for its $47 billion in Bitcoin assets, including $18 billion in unrealized gains, and may incur a tax bill of billions of dollars next year.
According to Fortune and other media reports, David Balland, the co-founder of the well-known French encryption company Ledger, and his wife were successfully rescued after being kidnapped on January 23. The kidnappers demanded a ransom in cryptocurrency, part of which was paid but later traced and frozen.
Event details:
- • On January 21, the Ballands were abducted from their home in the French province of Cher and taken to different locations.
- • The kidnappers contacted another Ledger co-founder and demanded ransom, part of which was paid in cryptocurrency.
- • The French Gendarmerie Special Forces GIGN intervened and rescued Balland on January 22, and found his wife the next day.
During the kidnapping, Balland suffered an injury to his hand and is currently hospitalized. His wife was not physically injured but is under psychological supervision. The police arrested 10 suspects, all aged between 20 and 40, most of whom had criminal records. The kidnappers could face life in prison if found guilty.
Ledger CEO Pascal Gauthier expressed his gratitude to law enforcement for their prompt action and emphasized that security measures will be further strengthened.
According to MicroStrategy's official announcement, the company plans to redeem all US$1.05 billion of convertible senior bonds due in 2027 and settle all conversion requests in the form of stocks. The bondholders may convert the bonds into 7.0234 shares of common stock per thousand dollars of par value (conversion price of $142.38 per share) until February 20, 2025. The redemption date is set as February 24, 2025, and the company will pay the bond principal and unpaid special interest during the redemption period.
Thumzup board approves allocating up to 90% of remaining cash into Bitcoin
According to Thumzup’s official announcement, the company’s board of directors has approved allocating up to 90% of remaining cash to Bitcoin holdings as part of its financial reserve strategy. The company has purchased $1 million in Bitcoin on January 6, 2025, and plans to continue accumulating. At the same time, Thumzup plans to start paying gig economy employees in Bitcoin in the next few weeks to promote the application of Bitcoin in operations. Thumzup is a company specializing in social media branding and programmatic marketing solutions.
In addition, CEO Robert Steele expressed support for President Trump’s announcement to make the United States the “world capital of artificial intelligence and cryptocurrency” and believed that the relevant executive order will strengthen the future development of Bitcoin and crypto assets.
a16z plans to scale back cryptocurrency investments in UK, refocusing on US market
According to the Financial Times, Silicon Valley venture capital firm Andreessen Horowitz (a16z) plans to scale back its investments in the UK cryptocurrency industry and redirect its focus to the US market. Previously, the company entered London with high profile in 2023 and opened its first office outside the United States, aiming to increase investment in the UK encryption field. However, as Trump was elected and promoted cryptocurrency-friendly policies, Andreessen Horowitz founders Marc Andreessen and Ben Horowitz gradually focused their resources on the U.S. market.
According to sources, the company has hinted to British entrepreneurs and policymakers that it will reduce investment in capital and time in the UK. Sriram Krishnan, the partner who led the UK project, quit last year and recently joined the Trump administration. Although Andreessen Horowitz is still pursuing deals in the UK, most of the related investments are led by US teams.
Coinbase International Station will launch TOSHI, GIGA and GRT perpetual contract trading
According to official news from Coinbase International Exchange, the platform will launch perpetual contract trading for Toshi, Gigachad and The Graph on or after 17:30 on January 30, 2025 (UTC+8). The corresponding markets are TOSHI-PERP and GIGA-PERP respectively. and GRT-PERP. These transactions will be supported on the Coinbase International Exchange and Coinbase Advanced platforms.
Slow Mist founder Yu Xian issued a reminder on ) have installed an extended wallet or manually updated the extended wallet, then the extended wallet on AdsPower (such as MetaMask, etc.) may be a version with a backdoor, and this backdoor will steal your mnemonic phrase/private key.
Jupiter: Acquired majority stake in Moonshot
Jupiter, the DEX on the Solana chain, tweeted that it has acquired a majority stake in Moonshot.
important data
The total CEX trading volume in 2024 will reach US$75.8 trillion, exceeding 2021
According to data released by CCData, the cryptocurrency market will usher in landmark growth in 2024:
- Trading volume hits record high: Total trading volume on centralized exchanges reached $75.8 trillion for the year, exceeding the 2021 record of $65.1 trillion.
- Derivatives dominate the market: Derivatives transactions accounted for 69.2% of the total transaction volume, a significant increase from 59.5% in 2021. In December 2024, the monthly derivatives trading volume of centralized exchanges reached US$7.58 trillion, achieving three consecutive months of growth.
According to Spot On Chain monitoring, about 2 hours ago, the Trump family’s encryption project World Liberty Financial spent US$20 million to purchase 3,001 ETH and 95 WBTC.
In the past 5 days, this address has invested $210.9 million, including 35,995 ETH worth $119 million at an average price of $3,332, and 629.1 WBTC worth $66.84 million at an average price of $106,249. The address currently holds 77,818 ETH ($257 million), including 19,403 pledged through Lido Finance, and 646.72 WBTC ($67.6 million).
According to Lookonchain monitoring, a whale deposited 17,002 AAVE ($5.9 million) to Binance 6 hours ago. This whale withdrew 49,640 AAVE ($4.09 million) from OKX 7 months ago when the price was $82. The whale currently holds 11,637 AAVE ($3.91 million), with a total profit of $13.5 million (+330%).
According to monitoring by @ai_9684xtpa, Giant Whale 6Ge32...3gMrw spent US$1.768 million in the past eight hours to build a position $VINE and has not yet sold it. It is currently a TOP5 position; the average price is US$0.1365, and the current profit is US$2.89 million.
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