Everything web3, crypto, defi, degen
In brief Spot Ethereum ETFs generated over $1.8 billion in investments this week. The nine funds outpaced their Bitcoin counterparts, which added just $70 million. Interest in Ethereum has risen with the passage of a stablecoin bill and rise of Ethereum treasury companies. For a week, at least, spot Ethereum exchange-traded funds outpaced their Bitcoin…
In brief BlackRock’s Ethereum ETF (ETHA) became the third-fastest ETF to reach $10 billion in assets, achieving the milestone in 251 days despite initial lukewarm reception compared to Bitcoin ETFs. MicroStrategy is raising up to $2.5 billion through a new preferred stock offering to buy more Bitcoin while facing class-action lawsuits over previous stock offering…
In brief Only BlackRock and Fidelity’s spot Bitcoin funds needed less time to reach $10 billion in assets. ETHA has added $5 billion over a 10-day period ending Wednesday. The surge in ETH ETF inflows has been closely intertwined with a dramatic surge in Ethereum’s price. BlackRock’s iShares Ethereum Trust (ETHA) has topped $10 billion…
In brief BNY Mellon and Goldman Sachs are working together on a tokenized money market fund (MMF) product. The product will allow fund managers to subscribe to MMF shares that earn a tokenized representative. The goal is to unlock utility and transferability of MMF shares. Publicly traded financial giants BNY Mellon Corporation and Goldman Sachs…
In brief The SEC appears increasingly likely to approve in-kind redemptions for Bitcoin and Ethereum ETFs, according to Bloomberg analyst James Seyffart. Five issuers with Bitcoin and Ethereum ETFs on the CBOE filed amendments to their prospectuses, suggesting “positive movement” from regulators on approving in-kind redemptions for the funds. The SEC has delayed deadlines for…
In brief MicroStrategy’s $70 billion Bitcoin holdings are spread across 9 potential custodians including Coinbase, BitGo, and Fidelity, but the exact distribution remains confidential under SEC Rule 83. Coinbase and MicroStrategy set stock records this week as crypto markets surge, though MicroStrategy has since pulled back while Coinbase keeps rising. Multiple companies launched or grew…
In brief Strategy keeps its $72 billion Bitcoin stash with multiple custodians, but won’t publicly name them, citing security concerns despite pressure from crypto community. Coinbase confirmed it’s one of Strategy’s custodians, while blockchain analytics firm Arkham claims to have traced 70,000 BTC to Fidelity. SEC filings reveal Strategy uses only NYDFS-regulated custodians, narrowing the…
In brief The Nasdaq has filed a 19b-4 rules change request that would allow BlackRock’s iShares Ethereum Trust ETF to add staking. The filing is the latest for Ethereum funds hoping to include staking functionality. Ethereum funds have pulled in $2.3 billion worth of investment over a nine-day streak. BlackRock aims to include staking in…
VIP clients are the first to receive Kraken Intelligence reports. If you’d like access to our newsletter or want to start trading, get the resources crypto investors worldwide trust. After six straight months of double digit returns for Bitcoin (BTC), some investors are wondering, is this the start of another 2017-style crypto market rally? Certainly,…
First revealed last September, Kraken is quietly hard at work gearing up to launch Kraken Bank. This exciting new venture is helping to shape the landscape for both Bitcoin and other cryptocurrency services – and the banking industry – well into the future. While we can’t reveal all the details yet, we sat down with…
