Key Developments in Tonight’s Crypto Landscape

On January 7, the global crypto market saw significant momentum as major financial institutions and tech players made strategic moves, while regulatory developments added further clarity to the industry’s trajectory in 2024.

Morgan Stanley Files for Ethereum ETF

The Wall Street giant has submitted preliminary registration documents for a spot Ethereum ETF with the U.S. SEC. This marks a pivotal step in traditional finance embracing digital assets and could pave the way for broader institutional capital inflows into the ETH ecosystem.

SEC Approves First-Ever Chainlink Spot ETF

The U.S. Securities and Exchange Commission has cleared Bitwise’s spot Chainlink ETF, making LINK one of the few non-Bitcoin assets to gain regulatory approval. The product is expected to launch in early Q1, drawing strong interest from institutional investors.

WisdomTree Pulls Back on XRP ETF Plan

WisdomTree has withdrawn its S-1 filing for a spot XRP ETF, citing the need to reassess market conditions and compliance strategy. The move highlights how regulatory uncertainty continues to influence product development decisions around contested digital assets.

Tech Giants Reinforce Crypto Commitment

Strategy’s perpetual preferred stock (STRC) has climbed back to $100 for the first time since November, reflecting renewed confidence in innovative financial instruments. Meanwhile, SpaceX’s valuation edges toward $1.6 trillion, with confirmation it still holds over 8,200 BTC—underscoring long-term strategic positioning in digital assets.

Exchange Platform Unveils Major Upgrade

A leading global exchange is rolling out zkPass (ZKP), a new privacy-preserving identity protocol, alongside a revamped user experience module and enhanced seed phrase labeling. These features aim to improve security and usability, signaling a shift toward integrated Web3 infrastructure services.

U.S. Legislative Push Gains Speed

  • The Senate Banking Committee has scheduled hearings on the Crypto Market Structure Bill for January 15
  • Key topics include custodial standards, trading transparency, and investor safeguards
  • Industry groups are urging Congress to establish a clear, unified regulatory framework to maintain U.S. competitiveness

As traditional finance deepens its involvement, tech leaders maintain crypto holdings, and policy frameworks take shape, 2024 is emerging as a defining year for institutional adoption and regulatory maturation in digital assets.