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🌙 BlackRock’s ETF Returns to DTCC List After Disappearing

🌙 BlackRock’s ETF Returns to DTCC List After Disappearing

Bitcoin's price rose back above $34,000 as BlackRock's proposed spot bitcoin ETF reappeared on a list maintained by the DTCC.

Mike Gavela
October 24, 2023

Crypto Roundup - Oct 24

Bitcoin rose above $34,000, buoyed by BlackRock's spot bitcoin ETF re-listing on the DTCC, indicating potential SEC approval and briefly touching $35,000. The crypto market, with its wide range of participants, showed renewed enthusiasm, especially towards Bitcoin, with anticipation building for key events like a spot bitcoin ETF approval and the upcoming bitcoin halving, highlighted by Gio Vicioso of CME. Simultaneously, dYdX is progressing in its transition from Ethereum’s Layer 2 to a standalone blockchain within the Cosmos ecosystem, open-sourcing its code to decentralize its order book and increase community engagement.

Top Stories:

Bitcoin’s Price Spike: Bitcoin ascended past $34,000, fueled by the return of BlackRock's proposed spot bitcoin ETF on the DTCC list, sparking optimism for an SEC approval.
Eager Anticipation for ETF Approval: The crypto sector is abuzz, with diverse participants keenly awaiting the SEC’s decision on a spot bitcoin ETF, highlighting a surge in crypto interest.
dYdX’s Strategic Shift to Cosmos: Decentralized exchange dYdX is transitioning to a standalone blockchain in the Cosmos ecosystem and open-sourcing its code, emphasizing decentralization and community engagement.

FUNDRAISES

1/ We're excited to announce our $3.3M seed funding, led by @polychaincap with participation from: @circle_ventures, @borderless_cap, @wintermute_t Ventures, @HustleFundVC, @CMCC_Global & @InteropVC, as well as numerous angel investors! ✨
— Noble (@noble_xyz)
10:08 AM • Oct 24, 2023

Announcing HYTOPIA’s $3M fundraise, led by @Delphi_Digital / @Delphi_Ventures and joined by other phenomenal VCs & angels!
This marks a major milestone as we secure institutional support to deliver on HYTOPIA’s vision.
— HYTOPIA (@HYTOPIAgg)
7:30 PM • Oct 23, 2023

OTHER HEADLINES

DeFi Sector Heats Up Amid Broad Market Rally - The Defiant

Total Value Locked In DeFi Protocols Hits 3-Month High Above $40B

thedefiant.io/defi-sector-heats-up-amid-broad-market-rally

ETH/BTC ratio makes new yearly lows amid hype over spot Bitcoin ETF approval

Ethereum is trading at its lowest level in Bitcoin terms in 16 months.

www.dlnews.com/articles/markets/ethereum-bitcoin-ratio-makes-new-yearly-lows

BITO volumes soar Tuesday in midst of BTC price rally

Roughly 32.5 million shares of BITO, the largest US bitcoin futures ETF, had traded as of 2:30 pm ET Tuesday.

blockworks.co/news/proshares-bito-bitcoin-futures-etf

$325 million in shorts liquidated amid crypto-wide market rally

A sector-wide bitcoin rally has pushed prices higher across the board, liquidating traders betting on a pullback.

blockworks.co/news/bitcoin-liquidated-shorts-rally

CRYPTO TWITTER (X)

And just like that $ETH is deflationary again.
It should stay deflationary during the bull market (maybe more than ever before).
Pair that with Larry Fink's narrative about tokenization of real world assets.
Add staking yield on top of it.
No one is ready for the pump that… twitter.com/i/web/status/1…
— AdrianoFeria.eth 🦇🔊 🛡️ (@AdrianoFeria)
3:27 AM • Oct 24, 2023

when #bitcoin ETFs are approved, we think these vehicles could see a minimum of $14.4bn of inflows in year 1, ramping to $38.6bn inflows in year 3.
at those levels, BTCUSD could see 75% appreciation the year following approvals 👀
more in our new report from today👇
— Alex Thorn (@intangiblecoins)
3:33 PM • Oct 24, 2023

Bitcoin is pumping on hopes spot ETFs are around the corner.
Good news for sure.
But don't expect BTC to go up and to the right in a straight line.
It never does.
If you are new to this game, just look at how this bear market compares to the old ones.
— ecoinometrics (@ecoinometrics)
12:15 PM • Oct 24, 2023

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