Bitwise has entered the advertising scene with what has been the first commercial for the Bitcoin spot ETF. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Asset managers launch commercials on Bitcoin spot ETF
📍Bitwise has launched the first advertisements related to its Bitcoin Spot ETF. The so-called Bitcoin ETF marketing war has begun, with several asset managers publishing their first commercials related to this highly anticipated investment vehicle, which has yet to receive SEC approval.
Bitwise, a cryptocurrency index fund and ETF provider that is awaiting SEC approval to offer its clients direct access to Bitcoin, has unveiled its first commercials related to this BTC investment vehicle. These ads star none other than American actor Jonathan Goldsmith, known for his portrayal of “the most interesting man in the world” in other advertising campaigns.
To date, Bitwise has already launched two commercials for the Bitcoin ETF, while Hashdex has become the second asset manager to present a commercial for this financial vehicle.
Crypto industry analysts and experts are interpreting these announcements as an extension of the high confidence that the SEC will eventually approve several Bitcoin exchange-traded funds in early January. NFT enthusiast @3orovik commented that fund managers are opening up a $30 trillion market to Bitcoin by pursuing the spot ETF. “Do you think Bitwise hired the most interesting man in the world for fun?”, he pointed.
Meanwhile, it has emerged that BlackRock has met with the SEC again and has amended its S-1 filing to accommodate cash fund creations.
Last week, Bloomberg ETF analyst Eric Balchunas highlighted that the SEC would likely not approve Bitcoin creations in the first wave of spot ETFs, and that fund managers pursuing this goal, such as BlackRock and Ark Invest, would likely have to cede and comply with the regulator's requirements if they wanted to receive possible approval next month.
Demand for DEXs on Solana is on the rise
📍Trading volume on Solana decentralized exchanges (DEX) surpassed $10.000 billion in the past week. Decentralized exchanges, or DEXs, based on the Solana blockchain have been moving a higher transaction volume than those based on the Ethereum blockchain.
According to data from DeFi Llama, Solana DEXs’ weekly trading volume reached $10.100 billion this week, while Ethereum-based DEXs reached a total trading volume of $8.800 billion.
This significant increase in trading volume on Solana DEXs is mainly due to the frenzy that the Bonk memecoin has caused in this blockchain ecosystem. Recently, Bonk developers celebrated their first anniversary, announcing a series of benefits and rewards for their community of users.
The frenzy that the memecoin has awakened also exhausted the available units of the Blockchain Saga smartphone, designed for the Solana ecosystem. This smartphone is resold on platforms such as eBay for up to $5.000, about 5 times its official price.
Source: DeFi Llama
In addition to marking a milestone in weekly DEX volume, Solana has also become the fourth most capitalized cryptocurrency in the market, having risen by more than 30% in the last week, and by more than 700%, in the last year.
Bitcoin integrates into Phantom
📍Solana's Phantom wallet has integrated support for the Bitcoin blockchain ecosystem. Now Bitcoin-based NFTs, Ordinals, as well as BRC-20 and other tokens based on the Bitcoin network, have been integrated with Solana's Phantom wallet.
Udi Wertheimer, founder of Taproot Wizards, highlighted that the integration of the Bitcoin blockchain ecosystem into one of the most used wallets by the Solana crypto community demonstrates the degree of importance and current expansion of the most robust network in the crypto industry.
This year, Phantom has been integrating support for other blockchain ecosystems besides Bitcoin. In May, it announced that it was simultaneously integrating the Ethereum and Polygon Network networks, as part of its goals to expand into the crypto industry and transform into a multi-blockchain wallet.
Ledger to compensate users for Ledger Connect Kit failure
📍The company that develops the Ledger wallet has offered to compensate users for the failure that occurred in the Web3 connector last week. According to Ledger, users who were affected by the security vulnerability exploited in Ledger Connect Kit will be refunded in total, while it has offered to reinforce the security of its digital tools and services, starting next year, in order to prevent new security incidents that put users and their assets at risk.
According to reports, about $600.000 was stolen during the security breach which was introduced in Ledger’s Web3 connector, which came to affect a large number of decentralized applications (DApps) in the ecosystem; among them, SushiSwap.
Continue reading: ERC-3643, a new Ethereum standard for tokenizing real-world assets
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
