Crypto traded sideways last week and the Nasdaq Crypto Index (NCI) ended the week up 1.8%. This movement was primarily fueled by bitcoin (BTC) going up 1.9%, followed by ether (ETH), which moved 1.1%.

 

Bitcoin continues its green streak

Last week, BTC closed its fifth positive month in a row. While again in green territory, the flagship digital asset rose a modest 1.9% in the first month of 2024, a more timid performance that suggests a consolidation phase after an outstanding fourth quarter.

 

Harvest Fund files for spot BTC ETF in Hong Kong

The Hong Kong arm of Harvest Fund Management submitted an application for a spot BTC ETF late last month. The movement suggests a fueled interest for such products in the wake of the approval of spot BTC ETFs in the US, with Asia likely being the next market to have spot bitcoin ETFs.

 

Visa to enable crypto-to-fiat withdrawals in 145 countries

Payments giant Visa recently partnered with Transak, a leading payments infrastructure provider for crypto and NFTs, to ease the off-ramp process from crypto to fiat currencies. The service will be available in 145 countries and allow crypto investors to cash out from crypto into fiat, which can then be spent at more than 130 million merchant locations where Visa is accepted. The movement is yet another signal from a financial giant working alongside crypto infrastructure providers to improve the user experience and security involving crypto-to-fiat transactions.

 

From Hashdex: 

In our latest monthly letter, Hashdex’s Head of Portfolio Management, João Marco Cunha, writes about the first month of 2024 and how spot BTC ETFs are setting the stage for an exciting 2024.

 

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