Friday🌑Top Web3 Updates: Bitcoin ETFs, CEO Shakeups, and Market Trends

Welcome to today’s Web3 roundup! Big moves are shaking the blockchain world—$300M Bitcoin-Ethereum ETFs just got the green light, Craig Wright dodges jail, and Aptos sees a leadership shift. Let’s dive in!

1. SEC Greenlights $300M Bitcoin-Ethereum ETFs by Hashdex & Franklin Templeton.

The SEC has approved the first hybrid Bitcoin-Ethereum ETFs by Hashdex and Franklin Templeton, marking a major step for crypto investing. These ETFs, with an 80/20 BTC-ETH split, ensure transparency, real-time pricing, and strict anti-manipulation measures. Experts anticipate strong demand as financial advisors embrace diversification in crypto. Launching in January, these funds offer a streamlined way to invest in both major cryptocurrencies as the market evolves.

SEC Approves $300M Hybrid Bitcoin-Ethereum ETFs from Hashdex & Franklin Templeton

Explore the SEC approval of hybrid Bitcoin-Ethereum ETFs, tackling market volatility, and crypto concerns with Hashdex & Franklin Templeton.

Watcher GuruVladimir Popescu

2. Craig Wright dodges a 2-year jail sentence.

Craig Wright, found in contempt for continuing to claim he is Bitcoin creator Satoshi Nakamoto, has avoided jail with a 2-year suspended sentence. A UK court ordered him to stop filing lawsuits based on this claim. The latest legal saga stemmed from his $1.14 trillion lawsuit, which was dismissed in November. Wright was ordered not to pursue further claims about owning Bitcoin’s intellectual property, with the court warning that any future violations could result in a one-year jail sentence.

Satoshi Pretender Craig Wright Dodges Two-Year Jail Sentence - Decrypt

Though Wright was held in contempt of court for filing yet another lawsuit, a High Court judge has let him off with a warning.

DecryptJason Nelson

3. Mo Shaikh steps down as Aptos CEO, stays as advisor.

Mo Shaikh, Co-Founder and CEO of Aptos Labs, announced he is stepping down to "start a new chapter." He shared his confidence in the team and Aptos' future success as he moves on to new ventures. Avery Ching, Aptos' Co-Founder and CTO, will take over as CEO, focusing on technological innovation and accelerating product delivery to support the Aptos ecosystem. Shaikh, who was previously involved in a resolved lawsuit in 2022, expressed pride in building the company and its world-class team. Aptos Labs continues to grow, with recent additions to its advisory board, including Michael Sonnenshein and Kevin Weil.

Aptos Labs CEO Mo Shaikh Resigns, Continues to be Strategic Advisor on Board

Mo Shaikh, co-founder of layer-1 blockchain Aptos Labs leaves the company as CEO “to start a new chapter.”

CryptonewsSujha Sundararajan

4. Spot Bitcoin ETFs face record withdrawals amid weak demand.

U.S.-listed spot Bitcoin ETFs saw record outflows of $671.9 million on Thursday, ending a 15-day streak of inflows. The largest withdrawals were from Fidelity’s FBTC and Grayscale’s GBTC. Bitcoin's price continued its post-Fed decline, falling nearly 10% to $96,000. In the derivatives market, the CME’s one-month Bitcoin futures premium dropped to 9.83%, signaling weakening short-term demand. This decline suggests that ETFs may experience further weak demand. Additionally, Ether ETFs saw their first outflows since November 21, with $60.5 million leaving the funds as Ether's price dropped 20%.

U.S. Spot Bitcoin (BTC) ETFs Bleed Record $671.9M as CME Futures Premium Dips to 10%

The exchange-traded funds lost a record $671.9 million as bitcoin extended post-Fed losses below $100,000.

CoinDeskOmkar Godbole

That’s a wrap on today’s Web3 buzz! From groundbreaking ETF approvals to leadership shifts and market signals, the space never sleeps. Stay ahead—subscribe to our newsletter for more updates!

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