Bitcoin ETF Fee Structures Revealed as BTC Rallies

Bitcoin ETF Fee Structures Revealed as BTC Rallies

In the lead-up to the U.S. Securities and Exchange Commission's (SEC) anticipated decision on spot bitcoin ETFs, the varying fees set by potential issuers have taken center stage. Bitwise proposes the lowest fee at 0.24%, with other key players like Ark, 21Shares, and VanEck listing fees around 0.25%. BlackRock, a major market player, has set a competitive fee of 0.30%. Grayscale, aiming to convert its Bitcoin Trust into an ETF, plans a higher fee of 1.5%, sparking debate among experts about its market viability, despite its substantial asset base.

Bitcoin's value has notably surged past $47,000, a peak not seen since April 2022, driven by the anticipation of the SEC's decision. This increase highlights the market's optimism and the potential impact of ETF approvals, which could expand Bitcoin's investor base and attract significant investment.

The cryptocurrency community watches closely, with high hopes that a favorable SEC decision could further elevate Bitcoin's price.

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Mercari, Japan’s E-Commerce Leader, to Accept Bitcoin: Report

Mercari, Japan’s prominent online marketplace for second-hand goods, is planning to allow Bitcoin payments by June. With over 22 million monthly active users, Mercari aims to facilitate these payments via its blockchain subsidiary, Melcoin. While prices will still be shown in Japanese yen, users can use Bitcoin for transactions.

Melcoin will handle the conversion from Bitcoin to yen, applying transaction fees akin to fiat currency sales. This development follows Mercari’s introduction of a Bitcoin exchange in its app in March 2023. Further details about the Bitcoin payment integration are awaited, as Mercari has not yet provided additional details.

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$66,000 Spent on Mysterious Bitcoin Data Inscription

An anonymous wallet has intriguingly spent approximately 1.5 BTC, around $66,000, to inscribe nearly 9 megabytes of encrypted data onto the Bitcoin blockchain through 332 transactions. While the cost of the most expensive transactions reached into the thousands, the average cost per transaction was about $200. This activity has sparked curiosity and speculation among observers, as the purpose and content of the encrypted data remain unknown.

Another recent incident involved an anonymous wallet transferring $1.2 million to a Genesis wallet originally mined by Satoshi Nakamoto, with funds likely irretrievable since they haven’t moved since 2010.

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MangoFarmSOL Funds Drained, Community Suspects Rug Pull

MangoFarmSOL, a Solana-based farming protocol, is suspected of conducting a rug pull after it deactivated its social media and website, and closed its Telegram channel to new members. This follows the protocol’s announcement of a MANGO token airdrop, scheduled for January 10. Security concerns were raised by “Foobar,” MangoFarmSOL’s newly appointed security auditor, who suggested the project’s front-end was compromised.

The estimated loss from this potential exit scam is nearly $2 million. Additionally, the incident has fueled discussions about the increasing number of wallet drainer scams in the Solana ecosystem, with reports of organized trading of wallet drainer kits among cyber criminals.

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Other breaking news

• Bitcoin Vendors Rise by 174% in 2023: Merchant Tracker Data
• Solana Meme Coins Plunge 80% Post-December Frenzy
• ARK Invest Sells Additional 133,000 Coinbase Shares as Bitcoin ETF Deadline Nears
• CoinsPaid Crypto Gateway Hacked, Over $7.5M Stolen: Cyvers Report

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