Key points:

• BTC this Monday negative field, down 2.62% to $42,899。
• The U.S. Securities and Exchange Commission (SEC) approved 11 BTC spot ETFs on Wednesday, pushing BTC to $49,023, but ETF redemptions caused BTC to fall below $42,000.。
• The rise in bets on the XRP spot ETF has addressed the SEC's impact on activity related to the Ripple case.。
• Crypto market capitalization reaches highest level since April 2022。

Total Crypto Market Capitalization Up Monday to Saturday 1.90%, to $166 billion。On Wednesday, the SEC approved 11 applications for BTC spot ETFs, boosting demand for BTC and other alternative coins.。

However, BTC spot ETF-related data, increased scrutiny by U.S. lawmakers and restrictions on comments from SEC Chairman Gary Gensler contributed to this week's rally.。

SEC approves first BTC spot ETF

On Wednesday, the SEC approved the first BTC spot ETF。These 10 BTC Spot ETFs include:

• Bitcoin ETP Trust (BITB)
• Fidelity Wisdom Origins Bitcoin Trust (FBTC)
• iShares Bitcoin Trust (IBIT)
• ARK 21Shares Bitcoin ETF (ARKB)
• Franklin Bitcoin ETF (EZBC)
• Valkyrie Bitcoin Fund (BRRR)
• Invesco Galaxy Bitcoin ETF (BTCO)
• VanEck Bitcoin Trust (HODL)
• Wisdom Tree Bitcoin Trust (BTCW)
• Grayscale Bitcoin Trust (GBTC)
• Hashdex Bitcoin ETF (DEFI)

On the first day of trading, Bitwise Bitcoin ETP Trust (BITB) attracted the largest inflow of funds, reaching 2.$37.9 billion。Fidelity Wise Origin Bitcoin Trust (FBTC) followed suit, attracting its 2.$2.7 billion in inflows。iShares Bitcoin Trust (IBIT) to 11.$1.7 billion in inflows ranked third。

However, Bitcoin Trust Coin (GBTC) has seen a massive funding jump。GBTC funds jump to 5 on day two of trading.$7.9 billion。

GBTC funding disruptions affect buying demand for BTC on Friday。BTC down 7.57%, to close at $42,907。BTC visits lowest point of $41,659, then stabilizes。BTC down 2 from Monday to Saturday.62%, to $42,899。

US lawmakers have mixed reactions to approval of BTC spot ETF

There was a shutdown on Capitol Hill in the middle of the week over the SEC's approval of the BTC spot ETF, and lawmakers reacted differently。

Star Elizabeth Warren and star Cynthia Rams have gaps on cryptocurrency issues。

On Thursday, Austrian Warren told the SEC's approval of the BTC Spot ETF:

"In terms of law and policy, the SEC's decision on a Bitcoin ETF was wrong.。If the SEC allows cryptocurrencies to penetrate deeper into our financial system, it is increasingly important that cryptocurrencies follow basic anti-money laundering rules.。"

In an Anti-Crypto Campaign, Warren Calls on Lawmakers to Support Digital Asset Anti-Money Laundering Bill。The bill aims to implement bank-like regulation for the crypto market。Importantly, the bill could give the SEC regulatory powers for the crypto space。

Cynthia Rams Artist makes different statements about these approvals。The Rams Artist issued an official statement saying:

"I am pleased that the SEC has approved all 11 Bitcoin spot exchange traded funds.。"

Cynthia Rams Creative mentions the Lummis-Gillibrand Responsible Financial Innovation Act。Rams Rams Creative and Kirsten Gillibrand Creative introduced the Responsible Financial Innovation Act in June 2022.。

US lawmakers criticize SEC chairman Gary Jensler for account hack

On Thursday, Financial Services Committee Chairman Patrick McHenry issued a statement on the approval of the BTC Spot ETF, saying:

"The spot Bitcoin ETF approved today will be a historic milestone for the future of the digital asset ecosystem."。While providing a clear and defined legal framework for digital assets is still necessary, the steps taken today in regulating law enforcement are a significant improvement that is necessary.。"

However, Chairman McHenry and others wrote to SEC Chairman Gary Gensler expressing concern about the account being hacked.。On Tuesday, January 9, 2022, the SEC issued an unauthorized tweet announcing in advance the approval of the BTC Spot ETF.。

BTC reacted to the news by rising to a high of $48,033 before falling back。The SEC said the account was hacked, dropping BTC to $45,016 and then stabilizing.。

Financial Services Commission asks SEC to provide unauthorized tweet briefing by Jan. 17。

SEC v. Ripple and XRP Spot ETF Rumors

SEC v. Ripple: On Thursday, the SEC filed an enforcement motion with the court。SEC asks Judge Analisa Torres to require Ripple to provide 2022-2023 financial statements and post-complaint contract on XRP sales to institutional investors。

SEC and Ripple launch related findings on failed measures in SEC v. Ripple。

It is worth noting that the filing was filed against the backdrop of exciting rumors about the outlook for the XRP Spot ETF.。However, uncertainty as to whether the SEC has raised a procedural sale of XRP pleadings may delay the filing of XRP spot ETF applications。

On Wednesday, SEC Chairman Gary Gensler presented a cold water basin on the outlook for the cryptocurrency spot ETF market, saying:

"Importantly, today the Commission's action is limited to the ETP of holding one non-securities commodity, Bitcoin."。This interface should be interpreted as the SEC's willingness to approve listing criteria for crypto-asset securities。"