Web3 Diaries- CBOE Clears Fidelity Spot Bitcoin ETF Share Listing
CBOE – the US-based exchange has accepted the Fidelity Investments application for listing shares of a spot Bitcoin exchange-traded fund (ETFs).
In a Jan. 3 filing with the U.S. Securities and Exchange Commission (SEC), the Fidelity Wise Origin Bitcoin Fund said it intended to register its shares as securities listed on the CBOE BZX Exchange.
The Form 8-A filing, while part of the process of registering an ETF with the SEC, did not necessarily suggest the commission would approve the investment vehicle.
Many on social media seemed confused at the distinction between full SEC approval of a spot Bitcoin ETF and the registration with a U.S. exchange. Some experts have speculated that the commission could approve multiple spot BTC exchange-traded product applications ahead of a Jan. 10 final deadline for a crypto investment vehicle from ARK Invest and 21Shares.
USDC Stablecoin Momentarily Depegs To $0.74 On Binance
Following a market-wide sell-off sparked by a report raising doubts about whether a spot bitcoin (BTC) ETF will be approved this month, Circle's USDC dollar-pegged stablecoin dropped as low as $0.74 three times today.
In relation to its tether (USDT) trading pair on Binance, USDC had three swings down to $0.74, $0.80, and $0.79 between 12:10 and 12:21 UTC; on each of those occasions, the price swiftly rebounded to $1.
When a trader sells USDC for USDT and there isn’t enough liquidity to keep the $1 peg in place, this can happen.
According to CoinMarketCap, there are $26 million in orders stacked up to $1.02 and $6.1 million in orders stacked down to $0.98, indicating that the 2% market depth on Binance for the USDC/USDT pair is biased to the upside.
Arbitrum Token TVL Crosses $2.5BN Mark
Arbitrum’s ARB token total value locked (TVL) crossed $2.5 billion as heightened traders interest drove its price near $2. Increased trader participation is likely to drive the next wave of gains in the crypto market.
ARB token price has climbed nearly 10% in the past 24 hours, beating the broader crypto market, while on-chain volumes on Arbitrum-based applications crossed $920 million.
The Arbitrum influx overtook volumes of Solana-based applications, which boomed after a meme coin-led frenzy in December.
Data from DefiLlama shows the TVL on Arbitrum-based applications has increased by $1 billion since October, alongside an increase in net inflows.
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