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  • 12/27/24: Bitwise's New ETF 💰💸🪐

12/27/24: Bitwise's New ETF 💰💸🪐

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Top News

  1. Bitwise files Bitcoin Standard Corporations ETF application

  2. Tether’s USDT to be removed from EU exchanges on Dec 30

  3. Jupiter DEX to distribute 700M tokens in January airdrop

Specs’ Insights

1. Bitwise files Bitcoin Standard Corporations ETF application

⌐◪-◪ → Bitwise just filed for a new ETF!

Bitwise has filed for a “Bitcoin Standard Corporations ETF” that will invest in companies holding at least 1,000 BTC ($96M) in their corporate treasury.

This is another example of Bitwise pushing crypto forward on Wall Street. Remember, they were the first Bitcoin ETF to publish wallet addresses, allowing real-time verification of their holdings—a new standard for transparency.

This ETF is a genius way to attract investors looking for diversified Bitcoin exposure. Shoutout to Hunter Horsley and the Bitwise team for consistently leading the charge in bridging crypto and TradFi.

2. Tether’s USDT to be removed from EU exchanges on Dec 30

⌐◪-◪ → Something is going on with Tether.

Tether hasn’t minted anything in over two weeks, and tomorrow it will be officially banned in Europe, leading to delistings from hundreds of exchanges for non-compliance with regulatory frameworks.

This is a big deal considering Tether is the largest stablecoin in crypto by far. For context, here are the top 3 stablecoins by market cap.

  1. Tether: $139.27B

  2. USDC: $43.57B

  3. Ethena: $5.91B

FUD is swirling, with some speculating a major depegging could occur. But let’s not forget, Tether has survived intense FUD since 2017 and remains dominant.

As USDC and other stablecoins like Ripple’s RLUSD gain ground, the battle for dominance will heat up. Chaos is a ladder, and stablecoin markets are about to see some serious shifts.

3. Jupiter DEX to distribute 700M tokens in January airdrop

⌐◪-◪ → Jupuary 2025 is around the corner!

Jupiter, Solana’s largest DEX aggregator, is gearing up for its second airdrop, called “Jupuary.” The event will distribute 700M $JUP tokens (worth $580M) to DEX users and stakers in a tier-based system.

Eligibility is based on trading volume over the last year. For example, wallets with $800+ in trades will receive at least 50 tokens, while those with $29,000+ in volume could receive 250 tokens. So far, 2.3M wallets are eligible, making this a huge event in both size and value.

For context, Jupiter dropped 1B tokens last year, and with plans to burn 3B tokens soon, the supply is tightening. Free money always shakes the market—get ready for the ripples when this hits!

Everything Else

📈 Market Snapshot

  • Bitcoin → $96,400.41 ▲ 1.10% (24h)

  • Ethereum → $3,395.61 ▲ 1.53% (24h)

  • XRP → $2.19 ▲ 1.35% (24h)

  • Solana → $194.90 ▲ 1.92% (24h)

  • BNB → $704.90 ▲ 2.81% (24h)

⛓️ Crypto & DeFi

🏦 Wall Street & VC

🌎 Rest Of The World

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