Spot ETF Dominance, Chess in the Web3 Realm, and EU’s Crypto Compliance Push

Written by BTSE

January 17, 2024

Spot ETF Dominance, Chess in the Web3 Realm, and EU's Crypto Compliance Push

Bloomberg analyst James Seyffart reports that in just three days, Bitcoin spot ETFs have seen a trading volume nearing $10 billion. Grayscale’s GBTC leads with $5.17 billion, followed by BlackRock’s IBIT at $1.99 billion, and Fidelity’s FBTC at $1.47 billion. Meanwhile, Bitcoin’s (BTC) price has slightly increased by 0.64% in the last 24 hours, currently trading at $42,952.


What to Watch Out for Today


1. Grayscale, BlackRock, and Fidelity Lead in Spot ETFs: On their third trading day, Grayscale, BlackRock, and Fidelity accounted for nearly 90% of the spot Bitcoin ETF market, emerging as dominant forces. Although the total volume dipped from $4.6 billion on the first trading day to $1.8 billion, these firms held a strong position. With Grayscale facing outflows and BlackRock’s ETF potentially surpassing it in liquidity, investors should watch these developments closely as they could shape the landscape of spot ETF trading in the future. Long Bitcoin ETFs?


2. Anichess: Chess Meets NFTs: Animoca Brands, in partnership with, has launched Anichess, an NFT game endorsed by the previous world chess champion Magnus Carlsen. The game touts a unique blend of classic chess and fantasy, enhanced with spellcasting and NFT-based Orbs of Power. Gamers and NFT enthusiasts, here’s a new playground. Watch for the game’s upcoming PvP mode and tournaments. 


3. EU Extends AML to Crypto Firms: The European Banking Authority has expanded Anti-Money Laundering (AML) and Counter-Terrorist Financing guidelines to include European crypto firms. This aims to help these firms identify and mitigate risks in various areas. The new guidelines, effective from December 30, highlight the use of blockchain analytics tools among other measures, aiming to harmonize approaches across the union for mitigating risks. As the EU strives for a unified regulatory framework, investors must be more vigilant about compliance, understanding that their crypto asset service providers will now be operating under stricter rules aimed at preventing financial crimes.


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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

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