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ICG Trading Research这次SEC会批准比特币现货ETF吗
再过几天，SEC又将对两只比特币现货ETF做出决定，分别是Bitwise Bitcoin ETP Trust（6月29日），Grayscale Bitcoin Trust即GBTC（7月6日）。那么这次结果如何？ 我们@icg_io为此写了一篇长推，A 🧵 👇 Credits to @0xmao_eth, @lin_yiliu, @WCryptoJenny . 2021年10月16日，SEC首次批准了一支比特币ETF：ProShares的比特币期货ETF（NYSEARCA: BITO）。这拉开了比特币期货ETF获批的序幕。随后BTF，XBTF等根据1940年投资顾问法和投资公司法设立的比特币期货ETF纷纷问世。 不同于这些ETF，今年4月Teucrium首次获批在1933年证券法和1934年证券交易法下发行比特币期货ETF；5月，Valkyrie也推出了33/34法案下的比特币期货ETF VBB；6月，在加密市场总体市值暴跌70%的背景下，ProShares推出了首支做空比特币ETF BITI。 这些基于33/34法案ETF的通过，让我们乐观的相信，6月底和7月初，Bitwi...
ICG Trading ResearchA Monthly Recap of Crypto #2024
In January, the major headline: Bitcoin #ETFs receive the green light. https://x.com/Bitcoin/status/1745228405048762404 Alongside this mainstream TradFi milestone, @pumpdotfun was also launched this month, quickly leading a paradigm shift in token fair launch and distribution. This was probably a game-changing leap from #CEX to #DEX. https://x.com/icg_io/status/1849747917487366290 In February, Bitcoin rocketed nearly 45% thanks to ETF inflows. In March, @dogwifcoin and @Bomebookofmemes listed...
ICG Trading ResearchWeb3流动性的入口：阵痛过后的CeFi仍将整装待发
前言2022年上半年，加密世界发生了翻天覆地的变化，前有Luna崩盘，币价暴跌，后有三箭资本等众多知名机构暴雷清算。于是，我们进行了盘点，发现从CeFi的绝对龙头Celsius、贝宝、到对冲基金3AC ，甚至DeFi的Lido都未能幸免。 因此，我们希望从暴雷后机构的反应，未暴雷的机构特征和未来针对这种资金风险可能的解决方案着手，一起反思和讨论CeFi集中暴雷给我们的启示。一、Celsius：注定的败局Celsius：作为一家管理资产超过200亿美元的加密公司，Celsius的暴雷是这次加密市场大崩盘公认的导火索。作为一个中心化的加密货币借贷平台，Celsius凭借着远高于其他平台的活期存款利率，在去年12月吸引了最高价值超240亿美元的资金。 Celsius之所以能提供如此高的利率，是因为Celsius会将用户资产借出至第三方平台赚取收益，并将部分收益用于向用户发放利息。 这种设计的**第一个问题就是第三方平台的安全性不可控。**例如在BadgerDAO和Stakehound的被攻击事件中，Celsius就损失了价值约1.6亿美元的代币。 **第二个机制问题则是Celsius一...
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ICG Trading Research这次SEC会批准比特币现货ETF吗
再过几天，SEC又将对两只比特币现货ETF做出决定，分别是Bitwise Bitcoin ETP Trust（6月29日），Grayscale Bitcoin Trust即GBTC（7月6日）。那么这次结果如何？ 我们@icg_io为此写了一篇长推，A 🧵 👇 Credits to @0xmao_eth, @lin_yiliu, @WCryptoJenny . 2021年10月16日，SEC首次批准了一支比特币ETF：ProShares的比特币期货ETF（NYSEARCA: BITO）。这拉开了比特币期货ETF获批的序幕。随后BTF，XBTF等根据1940年投资顾问法和投资公司法设立的比特币期货ETF纷纷问世。 不同于这些ETF，今年4月Teucrium首次获批在1933年证券法和1934年证券交易法下发行比特币期货ETF；5月，Valkyrie也推出了33/34法案下的比特币期货ETF VBB；6月，在加密市场总体市值暴跌70%的背景下，ProShares推出了首支做空比特币ETF BITI。 这些基于33/34法案ETF的通过，让我们乐观的相信，6月底和7月初，Bitwi...
ICG Trading ResearchA Monthly Recap of Crypto #2024
In January, the major headline: Bitcoin #ETFs receive the green light. https://x.com/Bitcoin/status/1745228405048762404 Alongside this mainstream TradFi milestone, @pumpdotfun was also launched this month, quickly leading a paradigm shift in token fair launch and distribution. This was probably a game-changing leap from #CEX to #DEX. https://x.com/icg_io/status/1849747917487366290 In February, Bitcoin rocketed nearly 45% thanks to ETF inflows. In March, @dogwifcoin and @Bomebookofmemes listed...
ICG Trading ResearchWeb3流动性的入口：阵痛过后的CeFi仍将整装待发
前言2022年上半年，加密世界发生了翻天覆地的变化，前有Luna崩盘，币价暴跌，后有三箭资本等众多知名机构暴雷清算。于是，我们进行了盘点，发现从CeFi的绝对龙头Celsius、贝宝、到对冲基金3AC ，甚至DeFi的Lido都未能幸免。 因此，我们希望从暴雷后机构的反应，未暴雷的机构特征和未来针对这种资金风险可能的解决方案着手，一起反思和讨论CeFi集中暴雷给我们的启示。一、Celsius：注定的败局Celsius：作为一家管理资产超过200亿美元的加密公司，Celsius的暴雷是这次加密市场大崩盘公认的导火索。作为一个中心化的加密货币借贷平台，Celsius凭借着远高于其他平台的活期存款利率，在去年12月吸引了最高价值超240亿美元的资金。 Celsius之所以能提供如此高的利率，是因为Celsius会将用户资产借出至第三方平台赚取收益，并将部分收益用于向用户发放利息。 这种设计的**第一个问题就是第三方平台的安全性不可控。**例如在BadgerDAO和Stakehound的被攻击事件中，Celsius就损失了价值约1.6亿美元的代币。 **第二个机制问题则是Celsius一...
Share Dialog
Share Dialog
The #crypto industry's evolution has leaned heavily on #CEXs, benefiting VCs, key influencers, and established projects.
DEXs, led by @Uniswap , have stirred discussions about replacing CEXs. Though this hasn't happened yet in the past 3 years, the momentum feels different now.
@solana has developed a robust on-chain financial ecosystem, spanning token issuance to user-friendly trading platforms catering to both novices and experienced users.
@pumpdotfun excels as an incubator for early-stage projects, albeit with low success rates (perhaps lower than 0.001%) — an acceptable tradeoff for nurturing innovation.
@RaydiumProtocol , @orca_so , and @MeteoraAG offer highly efficient liquidity solutions that outpace traditional finance, with low fees and sophisticated trading tools.
Platforms like @dexscreener and @gmgnai bring transparency to on-chain trading, catering to both beginners and advanced users.
@usemoonshot expands access for retail users, enabling easy entry into crypto trading and providing a variety of crypto-native tokens, similar to how Robinhood opened up stock trading for everyday investors.
Altogether, a new, efficient financial ecosystem is unfolding on-chain, promising transparency similar to traditional finance. Although 99.99% of tokens hold little lasting value, their circulation fosters industry-wide innovation.
This is the price of progress.
The #crypto industry's evolution has leaned heavily on #CEXs, benefiting VCs, key influencers, and established projects.
DEXs, led by @Uniswap , have stirred discussions about replacing CEXs. Though this hasn't happened yet in the past 3 years, the momentum feels different now.
@solana has developed a robust on-chain financial ecosystem, spanning token issuance to user-friendly trading platforms catering to both novices and experienced users.
@pumpdotfun excels as an incubator for early-stage projects, albeit with low success rates (perhaps lower than 0.001%) — an acceptable tradeoff for nurturing innovation.
@RaydiumProtocol , @orca_so , and @MeteoraAG offer highly efficient liquidity solutions that outpace traditional finance, with low fees and sophisticated trading tools.
Platforms like @dexscreener and @gmgnai bring transparency to on-chain trading, catering to both beginners and advanced users.
@usemoonshot expands access for retail users, enabling easy entry into crypto trading and providing a variety of crypto-native tokens, similar to how Robinhood opened up stock trading for everyday investors.
Altogether, a new, efficient financial ecosystem is unfolding on-chain, promising transparency similar to traditional finance. Although 99.99% of tokens hold little lasting value, their circulation fosters industry-wide innovation.
This is the price of progress.
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