In July, the US Securities and Exchange Commission (SEC) allowed spot Ethereum ETFs to trade but restricted these funds from using staked $ETH to generate additional rewards.
The race to bring $XRP ETFs to market is heating up, with companies like 21Shares, Bitwise, and Canary Capital also competing.
Metaplanet has been actively buying Bitcoin throughout 2024. Its holdings now stand at 1,018 $BTC, worth around $93.5 million at today’s prices.
BUIDL, officially known as the BlackRock USD Institutional Digital Liquidity Fund, was initially launched in March 2023 on the Ethereum blockchain.
“With the launch of WDK by Tether, we’re giving developers and businesses the tools they need to seamlessly integrate USDt and Bitcoin into their applications”, said Tether CEO, Paolo Ardoino.
Other major funds, such as Fidelity’s FBTC, Grayscale’s Mini Trust, and products from Ark, 21Shares, and Bitwise, also saw a rise in trading volume, some nearly double their average daily volume.
Altcoins, Crypto Regulation
Ripple to unlock one Billion XRP: What it means for investors and market?
Some analysts believe that the increase in supply could put further pressure on $XRP’s value, particularly as investors weigh the impact of these tokens entering the market.
The IMF has proposed a few changes: tightening regulations on Bitcoin use, increasing oversight of the cryptocurrency, and reducing the public sector’s exposure to Bitcoin.
The SEC’s ongoing legal battle with Ripple, the company behind $XRP, is a key factor in determining the success of Bitwise’s $XRP ETF.
With the acquisition, CFAM will be renamed as Matrixport Asset Management (MAM).
