Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Bitcoin Climbs Closer to $97,000 with a 2.18% Increase in 24 Hours

Bitcoin climbed closer to the $97,000 benchmark and is now trading at $96,928, with a narrowed 2.18% increase in 24 hours.

Crypto Hedge Funds Had a Great 2024, But Failed to Beat Bitcoin

During a great year for cryptocurrencies, hedge funds focused on digital assets unsurprisingly did very well, too. It’s just that many didn’t do as well as the industry’s most famous token: Bitcoin.

Last year, a number of crypto hedge funds logged double-digit returns, with the VisionTrack Composite Index, which tracks the performance of 130 crypto-dedicated hedge funds, jumping 40%, according to data provided by Galaxy’s VisionTrack.

But those gains are paltry when compared with the advanced notched by Bitcoin, which surged 120% to above $100,000 for the first time.

BlackRock IBIT Net Outflow of $219.48 Million in a Single Day, Setting a Historical Second High

According to Odaily Planet Daily, BlackRock IBIT had a net outflow of $219.48 million, setting the second highest single-day net outflow record since its launch.

Trading volume reached 1.7 billion dollars.

Trump Considers Appointing Acting CFTC and SEC Chairmen

FOX Business reporter Eleanor Terrett said that Trump will inform regulators of his leadership candidates before the presidential inauguration. At the SEC, Hester Peirce and Mark Uyeda are possible candidates for acting chairman.

At the CFTC, Summer Mersinger and Caroline Pham are possible candidates for acting chair. Trump has not yet nominated a candidate for CFTC chair, and the acting chair could become permanent. Trump could select an outsider for the position later this year.

Telegram-Linked TON Blockchain to Expand in US as Trump Courts Crypto

A blockchain with close ties to Telegram Messenger LLP is preparing to expand in the US, drawn by the prospect of a welcoming regulatory backdrop under the upcoming administration headed by Donald Trump.

The Open Network — or TON — Foundation named board member Manuel Stotz as president under the fresh strategic focus on pursuing growth in the world’s top economy, according to a statement on Tuesday. Stotz, founder of investment manager Kingsway Capital Partners Ltd., replaces Steve Yun, who remains on the board.

Stotz said the TON Foundation anticipates the “US will soon become a global crypto hub keenly focused on innovation.”

Thailand Mulls Allowing First Bitcoin ETF in Bid to Boost Sector

Thailand may permit Bitcoin exchange-traded funds to list on local exchanges for the first time as the country vies to nurture a digital-assets hub.

The Securities and Exchange Commission is considering allowing individuals and institutions to invest in local Bitcoin ETFs, Secretary-General Pornanong Budsaratragoon said. Thailand’s One Asset Management launched a fund-of-funds offering exposure to overseas Bitcoin ETFs in June 2024, but the country hasn’t yet given the green light to vehicles that invest directly in the original cryptocurrency.

Bitcoin Spot ETF Flow

On Jan 14 (Eastern Time), the total net outflow for Bitcoin spot ETFs was $209.82 million, according to SoSoValue data.

The Bitcoin spot ETF with the highest net outflow on Jan 14 was iShares Bitcoin Trust, with a net outflow of $219.48 million. Following that was Bitwise Bitcoin ETF, with a net outflow of $8.93 million.

As of now, the total net asset value of Bitcoin spot ETFs is $108.98 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.70%.