Crypto Roundup 19 Dec: BlackRock, WisdomTree Drive Crypto Market Soar

Cryptocurrencies have gained in value in the last 24 hours.

TOP 5 Gainers Coins

Crypto News Key Highlights:

• Bitcoin catapulted over $43,000, surging 5%, bolstering its market cap by $50 billion. BlackRock's pivotal S-1 amendment for a Bitcoin ETF signals a strategic shift, favoring cash creations over in-kind, aligning for the holidays. WisdomTree follows suit. Analyst Ali Martinez highlights a descending triangle, predicting an 8%-9% Bitcoin price swing based on key levels. Notably, smaller wallets hit all-time highs since November, signaling nuanced market accumulation shifts.

• The U.S. District Court approves a consent order imposing a $1.35 billion penalty on Binance and Changpeng Zhao for Commodity Exchange Act violations. Binance, led by Zhao, solicited U.S. customers for digital asset derivatives, breaching terms. The court mandates enhanced compliance controls and governance measures to prevent future violations.

• The SEC delays decisions on several Ethereum ETFs, including Hashdex Nasdaq and Grayscale Ethereum Futures, to May 2024. The agency cites the need for additional public input on whether to list the ETFs. Among them is Grayscale's Ethereum Futures ETF, potentially influencing its Ethereum Trust conversion to a spot ETF.

• Vaneck's CEO anticipates the SEC approving multiple spot Bitcoin ETFs in a single day, drawing parallels with the approval of Ethereum futures. He believes simultaneous approval will ensure a level playing field, preventing any one company from gaining an unfair advantage. Currently, 13 spot Bitcoin ETF applications await SEC review.

• Spanish police dismantle an ISIS financing network through crypto transactions, arresting five individuals. The operation, part of a two-and-a-half-year investigation, involved collaboration with intelligence and security services from twelve countries. The network, spanning continents, obtained funds through criminal activities in Europe and used crypto for terrorist financing. Authorities seized nearly 200,000 euros in digital assets. The arrested suspects were involved in indoctrination and planning foiled attacks.

• The crypto investment landscape sees its first net outflows in 11 weeks, primarily led by Bitcoin with a $16 million net outflow. Bitcoin funds experience significant outflows, notably from the US and German markets, while altcoins like Solana and Cardano register inflows. Blockchain equities continue a nine-week streak of positive sentiment.

• Blockchain-based lending is surging, reaching $582 million in active tokenized private credit, a 128% YoY increase. The trend, although below its peak, suggests a shift to blockchain alternatives amid rising interest rates. Ethereum-based Centrifuge dominates with $255 million in active loans, primarily in consumer and automotive sectors.

Also read - 24 Crypto Update, 18 Dec: BlackRock ETF Twist Fuels Crypto Uptrend