Today’s Crypto Events: A Recap of What Transpired

Latest Developments in Crypto: SEC Delays Decision on Grayscale’s Ether ETF, Bitwise’s Bitcoin ETF Wallet Attracts Donations, and GBTC Outflows Show Signs of Slowing

The United States Securities and Exchange Commission (SEC) has extended the deadline for deciding on the approval of Grayscale’s spot Ether (ETH) exchange-traded fund (ETF). Meanwhile, Bitwise, an asset manager, received substantial Bitcoin (BTC) donations shortly after unveiling its wallet address. Additionally, Grayscale Bitcoin Trust experienced its lowest outflows since its launch on Jan. 11.

The SEC’s decision on Grayscale’s spot Ether ETF has been postponed, allowing public comments on the proposed rule change. Interested parties are invited to submit their opinions on whether the rule change should be approved or disapproved.

This notice follows the SEC’s recent approval of nine Bitcoin ETFs, enabling Grayscale to convert its Grayscale Bitcoin Trust (GBTC) into an ETF. However, the GBTC ETF has witnessed significant outflows over nine trading days.

Bitwise’s public disclosure of its Bitcoin ETF wallet address led to a surge in tips and donations, totaling $6,083, with over 16,000 inscriptions. Some applauded the transparency, while others questioned the use of a single-key wallet instead of a more secure multi-seg one.

GBTC outflows have slowed for the second consecutive day, raising hopes that the substantial Bitcoin dumping could soon cease. Data from BitMEX Research indicates a $429 million outflow on Jan. 24, the smallest since the ETF’s launch, suggesting a 33% slowdown compared to the beginning of the week.

Bloomberg ETF analyst Eric Balchunas noted on Jan. 25 that GBTC outflows appear to be trending down, though the overall number remains substantial. The GBTC has seen outflows of 106,092 BTC, equivalent to approximately $4.4 billion, over nine trading days.

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