Markets

Grayscale Ethereum ETFs Are First in US to Add Staking

In brief Grayscale has added staking functionality to its two spot Ethereum ETFs in the United States. It also added staking to its Solana Trust, which has yet to be approved for an ETF conversion. Investors will be able to earn ETH staking rewards from the exchange-traded products. U.S. investors in exchange-traded funds tracking Ethereum’s…

Law and Order

Vietnam Caps Crypto Pilot at Five Licensed Exchanges

In brief Vietnam’s Deputy Finance Minister announced a maximum of five licenses for the crypto exchange pilot program at a government press conference on Monday. The Ministry of Finance has received no formal applications yet, though companies are preparing systems and conducting preliminary discussions with officials. Industry experts criticize high capital requirements and regulatory uncertainty,…

Markets

Stablecoins Could Lure $1 Trillion in Deposits Away From Banks: Analysts

In brief Standard Chartered analysts predict stablecoins could draw $1 trillion in deposits from banks in emerging markets over the next three years. That represents 2% of aggregate deposits in high-vulnerability countries including Egypt, Pakistan, Bangladesh, Sri Lanka, Turkey, India, and Kenya. Depositors in these emerging markets are expected to adopt stablecoins even without yield…