❌ ETFs to be rejected?

The ETF announcement has been eagerly awaited, but is there a one more twist by the SEC beforehand...


6 min read Jan 9, 2024

📈 Road to ETFs

2024 marks the year of the bull, and we’ll be making sure you catch the ride with us as we enter this journey together… tune in to our road to ETFs series, as we gear up for both the Bitcoin and Ethereum ETF approvals! 

❌ ETFs to be rejected?

Today’s issue ⤵️

  1. 📊 Today in markets

  2. ❌ ETFs to be rejected?

  3. 🔮 Flooz Top Picks

🚀 Flooz Exclusive Data Bytes 

Top 3 tokens held by $SoonVerse whales
  • 🚀 Dots Game is a play-to-earn game, the project has been live for only a few days and crossed 150 holders in the first hour! 

  • 🚀 Kaspa Mining is the fastest, open-source, decentralized & fully scalable Layer-1 in the world, with over $2.5b in market cap. 

  • 🚀 OpSec token is fortifying cloud security with decentralized servers, private networks, RDPs, GPUs, and cutting-edge DePIN hardware – shaping security-oriented future.

🗒️ What's an ETF?

We are moving ever closer to the ETF releases but the path still has some cracks in it which is causing some stirs in the market as a result.

For those who are not too sure about how important the ETFs are… here is a short summary:

Cryptocurrency exchange-traded funds (ETFs) offer a way into cryptocurrencies without complete exposure or having to buy and store the digital assets yourself. ETFs are within the stock market realm.

Why is this important for the crypto space?

In a way, this allows for the crossover of the stock and crypto market and while that may seem odd, it opens up opportunities for businesses to get involved and a simple way to break your way into the crypto world without all of the risks involved such as wallets or exchange problems.

But here’s the catch… not just any businesses will be getting involved. Oh no… we will be seeing the biggest businesses in the world take part, including the likes of:

  • 🪨 Blackrock

  • 🔱 Goldman Sachs

  • ⚖️ Grayscale

And many others…

For context, just those three alone has combined assets and managed assets worth around $10 Trillion… Now you see why there is so much hype?

In short - more money will flow into crypto which will help growth and can help increase the only thing most care about… PRICES!

We will be following the ETF narrative and keeping you as updated as possible leading into the next bull run.

If you don’t want to miss out, then make sure to add us to your VIP section on your email list.

📊 Today in markets

Is the rocket taking off? 🚀 It seems the market has taken a U-turn this week after a nose dive into the deep end last week in which we saw the total crypto market cap (TOTAL) dropping down over 10%, its largest single-day decline since FTX collapsed in November 2022. This week is a big week and we could be about to see some volatility but Bitcoin certainly isn’t waiting around and has begun preparing…

Market Cap Jan 2nd - Jan 9th

Why did we see such a drop?

Well… it seems speculation around the ETF releases turned bad with rumors that they will not be accepted this month (More on that later), but we have to remember, the market has been continually rising for a while now and pullbacks are healthy. While it is coincidental, the ETF rumors are unlikely to have caused a drop like that on its own.

However, when Bitcoin drops $5k in one day, it is always a scary occurrence.

What can we expect next?

It seems we've been on a ride up overall since 2022 (Even though it may not feel like it), and data does somewhat confirm this bias, but what it also tells us... is that we are moving up and it doesn't seem to be stopping anytime soon. Short term we might see some volatility and trading or using leverage may be more difficult but for anyone looking to hold long term, drops shouldn't be too concerning. There are still mixed opinions on what might happen next, but what we do know is that the market is in an uptrend and this long-awaited bull run is getting ever closer.

❌ ETFs to be rejected?

There has been speculation on the Bitcoin ETFs for a few months now, but January 2024 was the target period for the ETFs to be approved, and things may have taken a turn for the worse.

The SEC has had a hand on crypto for a while now but the ETF approval has been one area that many are eager to be moved ahead and while it seemed positive, it appears there could be a further delay.

With a prediction from Matrixport analyst Markus Thielen that all ETFs would be rejected by the SEC this month.

Thielen pointed out in a report last week that these applications still fall short of a critical requirement that must be met before the SEC can approve them. Hence the reasoning for them likely to not be approved.

In turn, the recent fall in the crypto market may have been a result of this potential occurrence with many fearing more bearish price action.

However, the price action has reversed itself and now we seem to be in a positive motion with Bitcoin hitting $47k… So I guess we sit and wait to see the outcome. Everyone is eagerly awaiting the approval of the ETFs and there could be some big names involved, including Blackrock and Grayscale... which can potentially bring in billions of dollars worth of investments.

But what is important to focus on is the long term. ETFs are to be approved at some point this year (Could even be this week) and with the Bitcoin halving approaching in April, now is the time more than ever to be focused and have a plan leading into the next bull run.

Whether the news on the ETFs is positive or negative, it is only part of the agenda, and there is much more to look forward to.

Stay strong and stick to your plan frens.

🔮 Flooz Top Picks

Today, we’ll be covering our three crypto picks of the week 👇

The first on the agenda is , which has seen a HUGE uptrend recently, with a 90% climb in the last 14D and a massive 230% in the last 30D. TriasLabs vision is to build a trustworthy and reliable general-purpose computation infrastructure. They are defining a new-generation all-platform-supported public chain system to improve both trust and reliability with their Intelligent Autonomous Systems. Sitting at a price of around $13.60 and a market cap of roughly $136M, $TRIAS looks primed to keep expanding its ventures in the future and might be one to watch. Oh did we mention that it also has 99.8% of its max supply in circulation? Tokenomics are on point.

Next up we have , which is combining renewable energy and AI. Powerledger is a software and technology company that is now leveraging the Web3 space to further expand its adventures. $POWR had seen an 85% climb in the last 30D and moved itself into the top 250 for market cap which sits at around $170M. But after it's recent pullback in price and a drop of 10% in the last 24H... It could present a potential opportunity for those interested. This project is certainly gaining some attention and now has roughly 50k holders… Impressive.

And last but not least, we have which has just gone through a recent rebrand.

SoonVerse, formerly known as SoonSwap, is an integrated web3 games & metaverse accelerator and incubator. The hype around the gaming industry especially within the crypto space has been huge and this is a new project looking to keep expanding.

Speaking of hype, $SOON has seen a rise of 740% in the last 30D and a massive 214% of that in the last 7D. With the gaming industry seeing a value of $224.9 billion in 2022… it is projected to hit around  $610.6 billion by 2030.

Who doesn’t love gaming, aye?

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