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Bitcoin ETFs in Asia and Australia Are Coming Soon

Bitcoin ETFs in Asia and Australia Are Coming Soon

Bitcoin ETFs set to launch in Asia and Australia, Jupiter DEX surpasses Uniswap, US Senators back crypto, Orbiter Finance unveils Layer 2 network.

Welcome to the first edition of Datawallet Daily for the week. As always, we’ve curated the must-know crypto stories from the last 24 hours just for you:

Bitcoin ETFs in Asia and Australia Are Coming Soon

The approval of spot Bitcoin ETFs by the U.S. SEC is expected to catalyze similar regulatory advancements in Asia and Australia, with analysts predicting a ripple effect in regulatory momentum. Australia is poised to lead in this space, with the Australian Securities Exchange (ASX) anticipated to approve its first Bitcoin ETF soon. The Monochrome Bitcoin ETF, applied for in July 2023, stands out as a frontrunner in this race. This ETF, offering exposure to spot crypto assets, is eagerly anticipated, particularly due to the larger trading volumes it can attract on the ASX compared to its counterparts.

In Hong Kong, there's a strong push to expedite the approval of spot Bitcoin ETFs, aligning with its ambition to be a crypto hub. Hong Kong lawmaker Johnny Ng has been vocal in advocating for these developments. However, in Singapore, the approach is more measured. The Monetary Authority of Singapore (MAS) has yet to greenlight spot Bitcoin ETFs for retail investors, reflecting a careful balance between innovation and regulation. 

The UAE's stance towards a spot Bitcoin ETF is cautious, with former regulators highlighting the need for improved market liquidity and connectivity with the traditional financial sector. These regional variations underscore the diverse strategic approaches and readiness of different markets in integrating cryptocurrency ETFs.

Jupiter DEX Tops Uniswap Amid WEN Airdrop Frenzy

Jupiter, a Solana-based DEX, outperformed Ethereum’s Uniswap with $500 million in 24-hour trading volume, driven by stablecoin trades and the new WEN memecoin frenzy. The volume included over $50 million from WEN transactions, available to recent Jupiter users and Solana Saga phone owners. This activity precedes the launch of Jupiter’s native JUP token airdrop on January 31, with pre-market JUP tokens valued at $0.61. The total JUP airdrop value could surpass $600 million.

18 US Senators Support Crypto, Says Coinbase Lobby Group

A Coinbase advocacy group, Stand with Crypto, reports that 18 U.S. senators, predominantly Republicans, support cryptocurrency. Leading proponents include Senators Cynthia Lumnis and Ted Burr, noted for their extensive legislative efforts and public statements in favor of crypto. 

Conversely, 30 senators, mainly Democrats, oppose cryptocurrency, with Senator Elizabeth Warren being a prominent critic, introducing legislation aimed at regulating digital assets. The divide underscores a partisan split in the Senate’s approach to cryptocurrency, reflecting broader debates over digital currency’s role in finance and governance.

Orbiter Finance, Backed by OKX, Launches Its Layer 2 Network

Orbiter Finance, following a strategic investment from OKX Ventures, is launching Orbiter Rollup, a zero-knowledge proof-based Ethereum Layer 2 network. This development aims to expand its cross-chain bridge service, already popular with over 3 million users. Orbiter Rollup intends to facilitate seamless asset and data transfers across all Layer 2 networks, positioning itself as a central access point within the Ethereum ecosystem. 

The project emphasizes user experience and product development, with no current plans for a token offering. Orbiter Rollup will compete with other zero-knowledge Layer 2 solutions like Manta, zkSync, and Polygon zkEVM.

Other breaking news

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