Demex Daily #68: SEC-Approved Spot Bitcoin ETFs to Launch January 11

What’s Interesting Today:

Bloomberg's ETF analyst James Seyffart reports that trading of spot Bitcoin ETFs is expected to start as soon as January 11, following the SEC’s green light for 11 of these ETFs. The effective status of S-1 prospectuses indicates they are ready for immediate launch. Historically, ETFs related to cryptocurrency have typically started trading within a fortnight of their approval. The introduction of these ETFs is a major milestone for established financial entities, offering U.S. institutional investors a regulated way to engage with Bitcoin. While initial performances might vary, analysts foresee a positive long-term effect on Bitcoin's value. Currently, Bitcoin’s trading value stands at $46,410, having risen slightly post-ETF approval.

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Bounce Finance has announced a partnership with SatoshiVM, a Bitcoin-based ZK Rollup L2 platform. SatoshiVM's native token, $SAVM, will launch on Bounce Launchpad on January 19th, featuring Bounce's new Initial LP Revenue Offering model. Participants are encouraged to prepare their $AUCTION tokens for this event, with more details to be announced shortly.