Recent developments suggest positive developments toward in-kind creations for crypto ETFs (exchange-traded funds) after major providers filed amendments. The US SEC (Securities and Exchange Commission) initially approved cash redemptions for Bitcoin and the Ethereum ETFs. Wall Street Set to Benefit as SEC Inches Closer to In-Kind Crypto ETF Approval Major providers filed amendments for in-kind
In a move that has sent ripples across the cryptocurrency landscape, Tether, the issuer of the world’s largest stablecoin USDT, has recently pulled back the curtain on a significant portion of its expansive investment portfolio. This isn’t just about holding reserves; it’s about active, strategic deployment of profits into a diverse array of over 120
Ripple’s push into the U.S. banking system has sparked a fresh backlash from traditional finance, and the company’s chief technology officer is not mincing his words. Following the American Bankers Association’s call for regulators to freeze crypto bank license approvals, including those for firms such as Ripple and Circle, David Schwartz made it clear what
South Korea’s Financial Supervisory Service has verbally instructed local asset managers to limit exposure to crypto-linked stocks such as Coinbase and Strategy in ETFs, citing a 2017 policy that bars institutional investment in virtual assets. Summary South Korea’s FSS has informally directed asset managers to reduce ETF exposure to crypto-linked stocks like Coinbase and Strategy.
Story Highlights Ripple’s trust bank charter bid could redefine U.S. financial law. EGRPRA review allows regulators to approve crypto banks without Congress. XRP, stablecoins, and smart contracts may become U.S. financial infrastructure. The U.S. banking system might be going through one of its biggest changes in years without much public attention. The EGRPRA review (Economic
Citigroup claims to be exploring stablecoin adoption amidst accelerated regulations in the United States and Hong Kong to accommodate. How far are they willing to dive? Summary Citigroup seeks to offer stablecoins services and provide on-ramp and off-ramp services for clients. Banks are growing more eager to pursue stablecoin services as regulatory terms become clearer
The global financial landscape is a tapestry woven with innovation, opportunity, and, crucially, regulation. In the rapidly evolving realm where traditional finance meets digital assets, every regulatory pronouncement sends significant ripples. Recently, a pivotal development from South Korea has captured the attention of investors, asset managers, and cryptocurrency enthusiasts worldwide, particularly those keenly observing the
Key Takeaways Grayscale’s ETF chief David LaValle is leaving ahead of the company’s confidential IPO plans. Grayscale is pursuing new spot crypto ETFs including for Bitcoin, Ethereum, XRP, Solana, and Cardano. Grayscale’s global head of ETFs, David LaValle, is stepping down at the end of July, closing out a four-year chapter marked by key milestones
Demand for trading stocks on-chain is real. Switzerland-based Backed Finance’s tokenized U.S. equities product, xStocks, has seen a cumulative trading volume of over $300 million less than a month since going live on Bybit, Kraken, and Solana decentralized finance (DeFi) platforms. xStocks are 24/7 onchain tokens representing shares in publicly traded U.S. firms. Each token
South Korea’s finance regulator has informally warned local asset managers to reduce their exposure to crypto exchange-traded funds (ETF) and U.S.-listed digital asset firms, according to a report by the Korean Herald. The Financial Supervisory Service (FSS) verbally told several firms to limit their exposure to Coinbase (COIN) and Michael Saylor’s Strategy (MSTR), to comply