Top 3 Stories From Web3 This Week 1.12.2024

Here are three web3 stories you need to know from this week.

Nearly a decade after the first application for a Bitcoin ETF, the SEC finally approved the product. 11 new ETFs started trading with spot $BTC from industry leaders such as Blackrock, Grayscale, and Invesco. Over $1Bn went into the product early on the first day of trading with much more expected this year. Story here.

USDC stablecoin issuer Circle confidentially files for an IPO. The company had previously tried to go public via SPAC merger, but this deal fell apart last year. USDC has exceeded $25Bn in market cap, and the company is spinning off significant profits with the current high level of interest rates. Story here.

Japanese video game publisher Nexon announced a $100 million web3 fund for their MapleStory Universe. This online roleplaying game will allow outside developers to tap into their audience of over 180 million registered users. Story here.

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