The DMD Digest Trend Report
Week of December 19, 2023
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TOP NEWS 📰
The Bitcoin ETF May Come By Christmas!🐂📈
For months I have been sounding the “stay ready so you don’t have to GET ready” alarm for investors and financial professionals as we neared the day when the SEC would (finally) relent and approve a bitcoin exchange traded fund.
With all of the last minute filing updates and preparations between investment companies and the SEC, that prediction will soon become a reality.
Find out what it means for you, your investment portfolio and your financial and legal advisors. Watch my coverage and predictions here. And check out my curate list of must-read coverage below, beginning with our lead article this week.
BlackRock Revises Spot Bitcoin ETF Proposal Ahead of Rumored SEC Approvals
On Monday, Blackrock (BLK) filed a revised spot bitcoin (BTC) exchange-traded fund (ETF) proposal in a bid to appease regulators, likely boosting its odds of securing a first-of-its-kind approval in the U.S.
Under the updated proposal, Blackrock’s ETF will feature cash creation and redemption mechanisms, the model favored by the Securities and Exchange Commission (SEC). The world’s largest asset manager is the latest of several firms to update its proposal amid speculation the SEC could approve a swath of spot bitcoin ETF applications as early as January. [Read more …]
Get in the Know! 🪙
Crypto lending is making an unlikely comeback following as the number of companies turning to blockchain-based loans is up 55% in 2023. (Bloomberg)
NASDAQ is repurposing the tech it built for a crypto custody service—but abandoned due to regulators—for a broader institutional trading platform. (Bloomberg)
On the Legal Front ⚖️
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Coinbase says it will appeal after the SEC finally rejected its petition to create a new framework for digital assets. (Fortune)
FTX's Bahamas Wing Reaches Agreement With U.S. Bankruptcy Team, Streamlining Future Actions (Coindesk)
A trio of crypto Super PACs has raised $78 million to lobby for the industry in next year's election. (Fortune)
US Court Approves Order for Binance to Pay CFTC $2.7 Billion Fine
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FEATURED VIDEO
Bitcoin Exchange Traded Funds Are Coming. Are You (and your advisor + CPA) Ready?
🌐 Join us in a critical exploration of the potential and challenges presented by the likely imminent approval of Bitcoin ETFs and the anticipated approval of Ethereum ETFs in the near future.
This video delves into the recent developments where federal courts have paved the way for the U.S. Securities and Exchange Commission (SEC) to potentially approve these groundbreaking investment vehicles.
💡 Whether you are a financial advisor, a legal consultant, or simply someone interested in the future of finance, this video is a crucial resource to understand and prepare for the forthcoming changes in the industry.
TECH INTERSECT🎙️
🚨 New Podcast Alert! 🎙️ #TechIntersect Episode 188 is LIVE!
No matter how much the cryptocurrency ecosystem evolves, there will always be uneducated people coming out of the woodwork to dismiss crypto and anyone involved in it as one big scam. Not only is this perspective based on vast misinformation, but it can actually be harmful to your ability to adapt and thrive in a Web3 world.
Because of this, I recorded this episode to bring some fact-based evidence that debunks some of the myths and frequently asked questions. This week on episode 188 of the Tech Intersect™ Podcast I’m revisiting some crypto scam myths!