1. Harvest Fund Submits Hong Kong's First Bitcoin ETF Application
Harvest Fund Hong Kong filed an application with the Securities and Futures Commission (SFC) for a Bitcoin spot ETF on January 26, marking the first such submission in Hong Kong. The SFC aims to expedite approvals, with listings expected post-Lunar New Year. Unlike U.S. ETFs, Hong Kong’s offering may accept both fiat and Bitcoin direct subscriptions. Family offices and institutional investors express strong interest, though volumes may lag behind U.S. counterparts.
2. Survey: Bitcoin Tops as Most Favored Crypto Asset
A Coinover report reveals that 46% of 16,000+ respondents favor Bitcoin as their preferred crypto asset, followed by NFTs (18%) and Ethereum (17%). Notably, 55% expressed curiosity about cryptocurrencies, while only 11% actively engage in the market.
3. Google Permits Ads for Bitcoin and Crypto Trust Products
Google updated its ad policies to allow crypto trust product ads in the U.S. Ads from BlackRock, VanEck, and Franklin Templeton for their Bitcoin spot ETFs have already appeared on Google Search.
4. Invesco Slashes Bitcoin ETF Fees to 0.25%
Invesco and Galaxy Asset Management reduced fees for their Invesco Galaxy Bitcoin ETF (BTCO) from 0.39% to 0.25%, aligning with competitors. The fee waiver will continue for six months or until assets reach $5 billion.
5. Bitwise Bitcoin ETF "BITB" Surpasses $600M AUM
Bitwise CEO Hunter Horsley announced that the Bitwise Bitcoin ETF (BITB) exceeded $600 million in assets under management (AUM) within 12 trading days, reflecting robust investor confidence.
6. Grayscale GBTC Outflows Slow to $192M on Day 12
Data from BitMEX Research shows Grayscale’s GBTC recorded $192 million in outflows on its 12th trading day, with analysts noting a continued slowdown in withdrawals.
7. Grayscale GBTC Holdings Dip Below 500,000 BTC
As of January 29, Grayscale’s GBTC holds 496,573 BTC ($21.4B), with shares outstanding at 555,700,100—each representing 0.0008936 BTC.
8. Coinbase Imposes Fees on Large USDC-to-USD Conversions
Coinbase will charge fees for institutional USDC-to-USD conversions exceeding $75M monthly:
- 0.1% for $75M–$150M
- 0.15% for $150M–$500M
- 0.2% above $500M
Prime clients holding >$500M or averaging $100M monthly are exempt.
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9. Bitcoin ETF Day-12 Trading Volume Hits $15.6B
Bloomberg analyst James Seyffart reported **$15.6B** in total trading volume for U.S. Bitcoin spot ETFs on Day 12, led by GBTC ($5.7B), followed by BlackRock’s IBIT and Fidelity’s FBTC. Cumulative volume reached $259.4B over 12 days.
10. EU Proposes Stricter Rules for Non-EU Crypto Firms
The European Securities and Markets Authority (ESMA) drafted rules to limit non-EU crypto firms’ access to EU consumers, permitting services only via "reverse solicitation." The move aims to enforce MiCA regulations and ensure fair competition.
11. Binance’s Yi He Warns of LinkedIn Scams
Binance co-founder Yi He clarified she does not handle listing discussions via LinkedIn and warned against fraudsters impersonating her for investment schemes.
12. ESMA Tightens Restrictions on Non-EU Crypto Companies
ESMA’s proposal restricts non-EU crypto firms from serving EU clients except under narrow conditions, reinforcing MiCA’s regulatory framework.
FAQs
Q: How does Hong Kong’s Bitcoin ETF differ from the U.S. version?
A: Hong Kong’s ETF may allow Bitcoin direct subscriptions, unlike U.S. ETFs which accept only cash.
Q: What are the new fees for Invesco’s Bitcoin ETF?
A: Fees dropped from 0.39% to 0.25%, with a waiver for assets below $5B.
Q: Why is ESMA limiting non-EU crypto firms?
A: To prevent unfair competition and ensure compliance with MiCA regulations.
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