Cointime

Cointime

Download App
iOS & Android

Crypto Biz: Bitcoin ETFs debut, asset tokenization, Ripple’s buyback and more

The approval of Bitcoin ETFs can open the doors for further derivatives products and enhance BTC’s role in decentralized finance, but its long-term impact may go far beyond financial markets.

Ten years after Cameron and Tyler Winklevoss first applied to launch the Winklevoss Bitcoin Trust in 2013, a spot Bitcoin exchange-traded fund (ETF) has finally launched in the United States. The U.S. Securities and Exchange Commissionapproved nine ETF applicationsfrom several major asset management firms on Jan. 10.

Market analysts anticipate an investment inflow of around $10 billion to the ETFs in 2024. The historic decision cements the status of Bitcoin as a legitimate asset and sets the stage for a range of derivative investment products, including potential leveraged and short Bitcoin ETFs.

Aside from that, the decision can potentially strengthen Bitcoin’s role within the decentralized finance (DeFi) space, particularly as a collateral asset, creating opportunities to further integrate the crypto industry with traditional financial markets.

However, the ripple effects of this development may be felt far beyond financial markets.

The nod from the U.S. regulator represents a landmark moment for BTC’s broader adoption and recognition, symbolizing a shift transcending the cryptocurrency and its underlying blockchain technology. Moments like these can reshape our economic system, alter perceptions of trust and open up a new yet-to-be-imagined world of possibilities.

As expected, crypto enthusiasts had been on a rollercoaster over the past few days. For those who may have missed something amid the Bitcoin ETF frenzy, this week’s Crypto Biz also explores Brevan Howard and Hamilton Lane tokenizing assets, Ripple’s buyback, Core Scientific’s oversubscribed equity offering and Grayscale’s funds rebalance.

Spot Bitcoin ETF trading volume surpasses $1.6B within minutes of launch

Bitcoin spot exchange-traded funds (ETFs) were off to a remarkable start as trading officially began on Jan. 11 with a total volume of around $1.6 billion just minutes after the opening bell. The movement comes on the heels of the United States Securities and Exchange Commission’s approval of the first spot Bitcoin ETFs. As of the opening of trading, Grayscale (GBTC), BlackRock (IBIT), Fidelity (FBTC) and Ark (ARKB) topped the list of BTC ETFs traded.

Brevan Howard, Hamilton Lane to tokenize assets through Libre protocol

Brevan Howard and Hamilton Lane will be the first asset managers to tokenize assets on the upcoming Web3 infrastructure provider Libre protocol — backed by Brevan Howard’s WebN and Nomura’s Laser Digital. Libre is scheduled to go live in the first quarter of 2024, offering asset tokenization and smart contracts through the Polygon network, supporting collateralized lending and automated rebalancing of separately managed accounts. As for Brevan Howard, known for its focus on macroeconomic trading strategies, Libre will allow tokenization of its portfolio of illiquidity assets, whereas Hamilton Lane will use the protocol for fixed-income products.

Ripple Labs to buy back $285 million stake in tender offer: Report

Ripple Labs is planning a tender offer to buy back a $285 million stake in the company from early investors and employees. The company plans to spend $500 million in the process. The budget includes the cost of converting restricted stock units to common shares. According to Reuters, investors will only be able to sell 6% of their holdings. The transaction will place the company’s valuation at $11.3 billion. Additional buybacks are anticipated as Ripple aims to provide an exit for early investors. Ripple’s CEO Brad Garlinghouse said the company has no plans to go public anytime soon in the U.S., where it is based, due to the country’s uncertain regulatory environment.

Grayscale drops MATIC, adds AVAX, XRP in funds rebalance

Asset manager Grayscale has rebalanced weights for three of its crypto funds, removing tokens such as Polygon’s and adding Avalanche and XRP, according to an announcement on Jan. 5. The new allocations are part of Grayscale’s quarterly review and impact its Digital Large Cap Fund (GDLC), DeFi Fund and Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund). Although MATIC was dropped from GDLC’s new composition, it remains in the GSCPxE Fund basket. As for Grayscale’s DeFi Fund, changes include the removal of the Curve DAO (CRV) token from the portfolio. 

Bitcoin miner Core Scientific completes $55 million equity offering

Bitcoin miner Core Scientific has closed a $55 million equity financing round as it returns to solvency. According to the Jan. 8 announcement, the $55 million equity offering expired the week before and was oversubscribed. CEO Adam Sullivan stated that the funds raised, combined with the full repayment of their debtor-in-possession financing, positions the company to exit Chapter 11 bankruptcy by the end of January. As per the company’s latest financial disclosure from November 2023, Core Scientific had $2.3 billion in assets against $559 million in liabilities, resulting in a net equity of $1.8 billion. The company also intends to reenter the Nasdaq stock exchange following the completion of its bankruptcy proceedings.

Bitcoin ETF
Comments

All Comments

Recommended for you

  • Trump: Bombs Will Explode if Ceasefire Agreement Expires

    On April 20, according to PBS, U.S. President Trump stated on Monday that if the ceasefire agreement with Iran expires on Tuesday, there will be a large number of bombs exploding. Trump made this remark during a call with White House reporter Liz Landers, focusing on the issue of the Iran war, while a U.S. delegation was preparing for further peace negotiations. When asked whether Iran would still participate in the talks scheduled to take place in Islamabad, Trump replied, "I don't know. I mean, they should show up. It's arranged. We'll see if they come. If they don't, that's fine too." When asked about his expectations for the negotiations, Trump stated, "Very simple, Iran absolutely cannot have nuclear weapons."

  • U.S. Vice President Vance and Delegation to Arrive in Islamabad Today

    On April 20, according to the New York Post: U.S. Vice President Vance and the American delegation will arrive in Islamabad today.

  • BitMine Increases ETH Holdings by Over 100,000, Total Holdings Exceed 4.97 Million ETH

    As of April 19, Eastern Time, BitMine's total cryptocurrency and cash holdings, including the 'Moon Landing Plan,' amount to $12.9 billion. BitMine holds 4,976,485 ETH (an increase of 101,627 ETH from last week), which represents 4.12% of the total Ethereum supply of 120.7 million ETH. Additionally, it holds 199 BTC, shares in Beast Industries worth $200 million, $107 million in Eightco Holdings (NASDAQ: ORBS), and $1.12 billion in unsecured cash. As of April 20, 2026, the total amount of staked ETH by BitMine is 3,334,637 ETH, valued at $7.7 billion based on a price of $2,301 per ETH.

  • Strategy Acquires 34,164 Bitcoins for $2.54 Billion Last Week

    On April 20, Strategy purchased 34,164 Bitcoins last week for a total of approximately $2.54 billion, at a unit price of about $74,395, achieving a 9.5% return on Bitcoin from 2026 to date. As of April 19, 2026, Strategy holds a total of 815,061 Bitcoins, valued at approximately $61.56 billion, with a unit price of about $75,527.

  • Binance Wallet to Launch 46th TGE Project OpenGradient (OPG)

    On April 20, Binance Wallet will launch the 46th exclusive TGE project OpenGradient (OPG). The subscription period is from April 21, 17:00 to 19:00 (UTC+8), and users must participate using Binance Alpha Points and meet the corresponding qualifications. According to the official announcement, OPG tokens will be available for collection and trading starting at 19:00 (UTC+8) on the same day. Additionally, 23,000,000 OPG tokens are reserved for future activities, with specific rules to be announced later.

  • CoinShares: $1.4 Billion Inflows into Digital Asset Investment Products Last Week

    On April 20, CoinShares reported that inflows into digital asset investment products reached $1.4 billion last week, marking the highest weekly inflow since January and achieving positive growth for the third consecutive week. Bitcoin saw inflows of $1.116 billion, bringing the total inflows for the year to $3.1 billion. The price of Bitcoin has surpassed the $76,000 mark, indicating a significant technical breakthrough after two months of range-bound trading. In contrast, inflows into Bitcoin short products were only $1.4 million, suggesting that while there is still hedging demand, it remains limited. Ethereum attracted $328 million in inflows, the strongest week since January, bringing its total inflows for the year to $197 million, while XRP and Solana recorded outflows of $56 million and $2.3 million, respectively.

  • Sources: Bank of Japan Unlikely to Raise Interest Rates in April Meeting

    On April 20, sources familiar with the Bank of Japan's thinking revealed that the central bank is unlikely to raise interest rates next week. The diminishing hope for a swift end to the Middle East conflict has left Japan's economic and price outlook fraught with uncertainty. Although the final decision still carries some uncertainty and will depend on the progress of peace negotiations between the U.S. and Iran, the sources indicated that the bank prefers to maintain the status quo this month to allow more time to assess the impact of the conflict. One source stated, 'Given the current level of uncertainty, the Bank of Japan may consider it feasible to hold steady this month.' Another source echoed this sentiment. A third source noted that the Bank of Japan is unlikely to raise rates, as the market has already fully priced in the possibility of no rate hike this month. These sources mentioned that even if the Bank of Japan keeps rates unchanged next week, it is likely to signal readiness to raise rates as early as June, given the escalating inflationary pressures.

  • Hong Kong SFC Announces New Regulatory Framework for Trading Tokenized Investment Products in Secondary Market

    On April 20, the Hong Kong Securities and Futures Commission (SFC) announced a new regulatory framework to promote the trading of tokenized investment products recognized by the SFC in the secondary market, aiming to enhance digital asset trading activities in Hong Kong and support the further development of the ecosystem. The first batch of products is expected to primarily consist of tokenized money market funds. The SFC will review the operation of these products and will consider expanding the range of products in due course.

  • Iranian Foreign Ministry Spokesman: No Decision Yet on Next Round of Talks with the U.S.

    On April 20, Iranian Foreign Ministry spokesman Baghaei stated that there are currently no plans for a second round of negotiations with the United States. He emphasized that the U.S. has not learned from past experiences, and such an approach will not yield positive results.

  • BTC Falls Below $75,000

    Market data shows that BTC has fallen below $75,000, currently priced at $74,994.16, with a 24-hour decline of 0.09%. The market is experiencing significant volatility, so please ensure proper risk management.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company