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Here's a quick preview of today’s content: Odds for new crypto ETF including Litecoin, Solana, Doge, and others are live, Ethereum’s average gas fee hits 5 year low, short-positions against Ethereum skyrocket, companies like Tesla and Metaplanet share BTC gains, SEC X account hacker charged for fake BTC ETF news, and so much more.

Never a dull day in the world of crypto. Let’s dive in.

Market Snapshot

• Bitcoin hovers $97.8k while Ethereum tries to stay above $2.7k

  • Data shows that Wall Street short positions against Ethereum have 6x’d since the presidential election

  • James Wo, founder and CEO of DFG Venture Capital explains that the reasoning is likely due to Ethereum/’s increased competition against emerging Layer-1 solutions, while Bitcoin does not have the same competition

• Cardano and Litecoin both jump ~12% Monday evening as confidence levels increase for approval of ETF listings

Headline Roundup
^{_{The major headlines driving crypto markets}}

• NYSE Arca files Cardano ETF on behalf of Grayscale as crypto ETF filings continue (TB)

• Short positions on Ether surge over 500% since the election (CT)

• Ethereum’s average gas fees hits 5 year low, near $.04 (CT)

• Tesla reports $600M gains in Q4 BTC holdings (BI)

• Kraken lists Dave Portnoy’s memecoin JAILSTOOL (TB)

• Saudi Arabia plans to invest $14.9B in AI through global tech partnerships (CT) 

• Strategy acquires an additional $742M of Bitcoin (CD) 

• Nasdaq files with to list CoinShares' XRP and Litecoin ETFs (CB) 

• UK citizen is seeking to buy the landfill where his $768M Bitcoin fortune may be buried (TB) 

• Gold hits new ATH, outperforming Bitcoin YTD (TB) 

• The University of Austin plans to launch a $5M Bitcoin investment fund (CT) 

• Binance’s CZ  has never bought a memecoin or NFT (DC) 

• Crypto donations exceeded $1B in 2024 (TD) 

• BNPL firm Klarna plans to integrate crypto into its platform (CD) 

• Metaplanet reveals $35M of unrealized profit in 2024 from Bitcoin holdings (CD) 

• South Korean lawmaker is cleared of charges related to concealing crypto holdings (CT) 

• Trust Wallet adds support for XRPL tokens (BT)

• Bitcoin miners experience a 15% MoM production decline in January (CS)

• Base denies that it is selling Ethereum and reaffirms its support for the ecosystem (CS) 

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Launches

• The Central African Republic launches a Pump.fun memecoin (DC) 

• Proton launches self-custodial Bitcoin wallet (TB) 

• Decentralized exchange Balancer launches V3 on Ether L2 Arbitrum (TD)

Venture Capital

• Token trading infrastructure startup Reservoir completes $14M Series A led by Union Square Ventures (TB)

• Hash Capital leads $8M financing for decentralized computing power monetization network, NodeGo (CC)

• Drosera, an Ethereum security platform, raises $3.25M led by Greenfield Capital (TB)

• Hivello secures strategic funding from Animoca Brands ahead of token listing (GNW)

Regulation

• Japan prepares massive shift in crypto policies ahead of ETF and crypto tax cut approval (CCN)

• North Carolina introduces bill to establish a Strategic Bitcoin Reserve (CD) 

• Elon Musk eyes Ron Paul to lead an audit of the Federal Reserve which could have large repercussions for crypto regulation (BM)

Cybersecurity

• Thai and Chinese police arrest two scammers and seize $2.5M of USDT (DC)

• 25 year old pleads guilty to charges for crypto-related SEC X account hack and hit with $50k fine (CN)

• Multiple iOS and Android applications found with SDK malware to exfiltrate wallet seed phrases (HNS)

Extra Reads

• Ethereum short positions are up 40% since last week and 500% since November

  A thread on why Wall Street Hedge Funds are so bearish on ETH

• Tether CEO believes quantum computing could benefit bitcoin

  Learn how bitcoin in lost wallets could be recirculated 

Chart of the Day

Bloomberg 2025 ETF odds are live.

Litecoin: 90% Dogecoin: 75% Solana: 70% XRP: 65%

Meme Dump

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