Category: AI

TheU.S.TreasuryDepartmentisconcernedaboutthegrowthofthestablecoinmarketandbelievesprivatelyissuedstablecoinsshouldeventuallybereplacedbyastate-backedcentralbankdigitalcurrency(CBDC),accordingtoaTreasuryreportreleasedWednesday. “Inasimilarmannertohowprivately-issued‘wildcat’currencieswerereplacedbygovernment-backedcentralcurrenciesinthelate-1800s,CentralBankDigitalCurrencies(CBDC)willlikelyneedtoreplacestablecoinsastheprimaryformofdigitalcurrencyunderpinningtokenizedtransactions,”thereport,whichwaspreparedbytheTreasury’sOfficeofDebtManagement,said. Stablecoinsdominatedmuchofthe132pagereportonthestateoftheTreasury’sfinancesinQ42024.MuchwasmadeofthesignificantamountofU.S.Treasuries,akaT-bills,thathavebeenboughtupbystablecoinissuerssuchasTetherandCircle.TheTreasuryestimatesthat$120billionworthofT-billshavebeenpurchasedtoserveasyield-bearingstablecoincollateral.Themajorityofthatsum—nearly$81billion—hasbeenpurchasedbyTether,thecompanybehindthecryptomarket’slargeststablecoin,USDT. WhilemanystablecoinadvocateshavearguedthatU.S.dollar-backedstablecoinsbolsterthedollar’sstrengthbyincreasingdemandforT-bills,theTreasuryappearsunconvinced. Wednesday’sreportfixatedonthe“commonoccurrence”ofstablecoinsdepeggingorcollapsingentirelyinrecentyears,asituationtheTreasurybelievescouldleadtodisasterifT-billsbecomeincreasinglyintegratedwiththestablecoinindustry. Stablecoinsareacrucialcomponentofthecryptoindustry.Byholdingasteadyvalue,theyallowcryptotraderstoenterandexitpositionswithouttouchingafiatcurrencyliketheU.S.dollar.Stablecoinsalsofunctionasdollarequivalentsinmarketswheredollarsarehardtocomeby. TheTreasurydepartmentestimatesthatover80%ofallcryptotransactionsinvolveastablecoin.Tether\'sUSDTisfarandawaythemostwidelytradedcryptocurrency,generating$53billionintradingvolumeinthelast24hoursalone. AndtheincreasinginterconnectivityofstablecoinsandtraditionalfinancialmarketsthroughT-billsiscauseforconcern,accordingtotheTreasury. “AcollapseofamajorstablecoinlikeTethercouldresultina‘fire-sale’oftheirU.S.Treasuriesholdings,”Wednesday’sreportsaid.“WhilestablecoinscurrentlyrepresentamarginalsegmentoftheT-billsmarket,growthovertimemayexposetheT-billsmarkettoincreasedriskoffiresalesduetorunsinthestablecoinmarket.” Thus,thereportrecommendedthattheU.S.governmenteventuallystepintoreplaceprivatestablecoinswithaCBDCpresumablyissuedbytheFederalReserve. Inthelasttwoyears,CBDCshavebecomeincreasinglycontroversialinAmericanpolitics.SeveralprominentRepublicanlawmakershavepledgedtopreventtheirdevelopment,chastisingaU.S.government-issuedstablecoinas“BigBrother’sdigitaldollar.” FormerpresidentDonaldTrump,too,hasemergedasavocalCBDCcriticwhilecampaigningforre-electionthisyear.Despitethatstance,Trump’scryptoproject,WorldLibertyFinancial,planstoissueitsownstablecoin,asDecryptfirstreportedearlierthisweek. Trumpandhisbusinesspartnershave,formonths,framedprivatestablecoinsasaneffectivemeanstopromotethepurchaseofT-billsand,therefore,thedominanceoftheU.S.dollarworldwide. Thatplanmayhaveitsfans—butitwouldappeartheU.S.Treasuryisn’toneofthem. decrypt.co

TheDogecoinpricecouldfacesignificantsellingpressurefollowingawhale’stransferofbillionsofDOGEcoinstotheRobinhoodcryptoexchange.Thismovefollowsthememecoin’srecentpricesurge,whichmakesitoneofthetopgainersinthecryptomarket.

MalwaredisguisedasaPython-basedtradingbothasreportedlytargetedcryptotradersinamulti-vectorsupplychainattack. Accordingtoanewblogpostbycloud-basedcybersecurityfirmCheckmarx,cryptoenthusiastshavebeentargetedbyadvancedmalwarecloakedasasuiteofartificialintelligence(AI)-basedcryptotradingtoolsthataimtostealsensitivedataanddraincryptowallets. Checkmarxsaysthemalwarewasdistributedthroughcode-sharingplatformGitHubandPyPi(PythonPackageIndex),acentralizedlocationforPythonpackages,andtargetedbothWindowsandMacoperatingsystems. AccordingtoCheckmarx,themalwareutilizeddeceptivegraphicaluserinterfacetodistractvictimsandamulti-stageinfectionprocessthatledvictimstoafakewebsite. “TheCryptoAIToolsmalwareemploysasophisticatedmulti-stageinfectionprocess,leveragingafakewebsitetodeliveritssecondarypayloads… Auniqueaspectofthisattack,comparedtomanymaliciouspackageswehaveseeninthepast,isthattheCryptoAIToolsmalwareincorporatesagraphicaluserinterface(GUI)asakeycomponentofitssocialengineeringstrategy. ThisGUIappearsthemomentthesecond-stagemalwareisactivatedandpresentsitselfasan‘AIBotStarter’application.Itisdesignedtodistractusersandcollectsensitiveinformationwhilethemalwareoperatescovertly.” TheattackeralsosetupaTelegramchannelmasqueradingastheproduct’stechsupport,furthertrickinguserswithoffersoffreetrials. “IntheTelegramchat,theattackeremploysvarioustacticstolurepotentialvictims.Theyoffer‘botsupport’toestablishcredibilityandtrust.Toenticeusers,theypromotetheirGitHubrepositoryashostingtheir‘mostpowerfulbot,’appealingtothoseseekingadvancedtradingtools. Theattackerthenproposesanattractiveoffer:afreetrialperiodfollowedbyamonthlysubscriptionmodel,makingthepropositionseembothrisk-freeandprofessional.” Checkmarxsaysthemalwarehad“severe”consequencesonitsvictims,includingthepotentialtheftoftheiridentities,browserdata,sensitivecomputerfiles,anddigitalassets. GeneratedImage:Midjourney dailyhodl.com

AnewdigitalassetmanagerhasfiledtolaunchaspotSolanaexchange-tradedfund(ETF),joiningagrowingpileofhopefulsthatalsoincludestheestablishedfirmsVanEckand21Shares. CanaryCapital—whichthismonthfiledtotheSecuritiesandExchangeCommission(SEC)forXRPandLitecoinproducts—madethefilingfortheproposedCanarySolanaETFonWednesday. AnETFisapopularinvestmentvehiclethattradesonstockexchanges.IftheSECweretoapprovetheCanarySolanaETF,investorswouldbeabletobuysharesthattrackthepriceofSOL,andgainexposuretothecoinwithouthavingtopurchaseandstorecryptocurrency. SOListhefifth-biggestdigitalasset.Itsnativeblockchainisusedfordecentralizedapplications(dapps),decentralizedfinance(DeFi),memecoins,andmore.It\'sseenasakeyrivaltoEthereum,thenetworkbehindETH,offeringcheaperandfastertransactions. Thecoincurrentlyhasamarketcapof$82billion,andhasseena400%jumpinvalueoverthelastyearatacurrentpriceofabout$175. CanaryCapitalisaNashville,Tennessee-basedfirmthatlaunchedinSeptember.Itaimstogiveinstitutionscryptotradingandmanagementsolutions. InJanuary,theSECapprovedBitcoinETFsandtheystartedtradingthesamemonth,whileEthereumETFswereapprovedinMayandbegantradinginJuly.Buttheregulatorappearedreluctanttomakesuchmoves,following10yearsofattemptstogainapprovalsforBitcoinfunds,andtheagencyfrequentlyhitscryptocompanieswithlawsuitsduetoallegationsthattheysellunregisteredsecurities. TheSEChasspecificallyallegedthatitthinksSOLisanunregisteredsecurity.AnalystsbelievethatSolanaETFswilleventuallybeapprovedintheUnitedStatesfollowingtherecentBitcoinandEthereumfundnods,butthespeedofsuchamovecoulddependontheoutcomeofnextweek\'sU.S.elections—andhowmuchlongerGaryGenslerremainsChairmanoftheSEC. VanEckand21SharesfiledtheirrespectiveapplicationstolaunchaspotSolanaETFbackinJune.BothfirmsalsoofferBitcoinandEthereumETFsintheUnitedStates. EditedbyAndrewHayward decrypt.co

Redditsoldthemajorityofitscryptocurrencyholding,mainlydominatedbyBitcoin,beforeBTCstartedpumpingupinOctober,asrevealedinitslatestSecuritiesandExchangeCommission(SEC)filing. ThenewscomesasBitcoinhasexperiencedasignificantpricegainthatcryptocurrencytradershavecoinedtheterm‘Uptober.’ InitsSECfilingthecompanysaid:“DuringthethreemonthsendedSeptember30,2024,wesoldthemajorityofourcryptocurrencyportfolio,whichconsistedprimarilyofBitcoinandEther.” Redditmissedthewindfallbyawhisker RedditsolditsBitcoinatapricebetween$54,000and$68,000beforeitcouldcashinonapotentialwindfallasthecryptocurrencysoaredto$73,000. AlthoughRedditdidnotdisclosetheamountofcryptocurrencythatwasdisposedof,itmaintainedthatthesalewasimmaterial. “Thenetcarryingvalueofourcryptocurrencies,aswellasthegainrecognizedonsale,wasimmaterialfortheperiodspresented.” Reddit. Howeverthecompanysaid,theBitcoinandEthersoldintheperiodtoSeptember2024,wereonlyintheirportfolioinordertofulfilltreasurypurposes.Redditaddedthatthecompanyneedsboardapprovalinordertoexecuteanyfuturecryptocurrencyinvestmentsaccordingtoitsinvestmentpolicy. “AnyinvestmentsbyusincryptocurrenciesfortreasurypurposesarelimitedtoBitcoin,Ether,andanyothercryptocurrencythattheSECandotherinvestmentregulatoryboardsdonotdeemtobeasecuritythroughapublicstatement,”Redditsaidinitsfiling. Thecompanyacknowledgedthatitisdifficulttoexecuteastheyarerisk-basedjudgmentsandnotguidedbyregulatorydevelopments. AccordingtoForbes,theBitcoin-ledcryptocurrencyrallyistheresultofacombinationoffactors.HedgefundinvestorshavebetonBitcoinasasafehavenagainstinflation,whichisprojectedtobedrivenbygovernmentpoliciesbackedbypresidentialcandidatesKamalaHarrisandDonaldTrump. EconomistsbelievethattheworldwillseetheUSdebtsoarbytrillionsofdollarsandthattheFederalReservewhichcutinterestratesearlywillfailtotameinflation. Ontheotherhand,thepricerallyhascoincidedwiththerisingoddsofaTrumppresidencywhichdespitehispreviousstanceonthecryptocurrencyhasemergedtobepro-Bitcoinasheisadvocatingfora‘strategicnationalBitcoinstockpile’. JUSTIN:Redditsoldthemajorityofits#BitcoinbeforeBTCstartedpumpinginOctober—SECfilingpic.twitter.com/JGRrdf2PMK —BitcoinMagazine(@BitcoinMagazine)October30,2024 RedditsharesralliedonstrongQ3earnings OntheNewYorkStockExchange,Redditsharesgainedby41%onWednesdayto$116pershareafterthecompanyreporteda$30millionnetincomeforthethirdquarter. Thethirdquarternetincomebeatestimatesandwascomingfroma$7.4millionlossinthesamequarterin2023. ThecompanyexpectsQ4revenuetoreachbetween$385millionand$400million,abovetheaverageanalystestimateof$357.9million. “ItwasanotherstrongquarterforRedditandourcommunitiesasweachievedimportantmilestones,includingnewlevelsofusertraffic,revenuegrowth,andprofitability.” RedditCEOSteveHuffman. ThefirmhasquiteahistorywithcryptocurrenciesparticularlyBitcoinandEthereum,asitbeganwithitsplanstointegrateblockchaintechnologywithinitsplatform. RedditintroducedtheVaultcryptocurrencywalletandcollectibleavatarswhichalloweduserstoowndigitalitemsontheEthereumblockchainviaPolygon(MATIC). However,sincethesedevelopments,thecompanyhasdistanceditselffromrecentcryptocurrencyinitiativessuchastheMoonstokenandCollectibleExpressions,whichwerelaterabandoned. InitsSECfiling,thecompanysaidithasdoubtsaboutthelong-termadoptionofblockchain,notingcryptocurrencyspeculativerisks.TheRedditappstillcarriestheVaultwallet,andallowsuserstoaccesscryptorewards,despitethefirmreducingitscryptoinvestments. Redditactionsindicateamorecautiousapproachtoblockchain,despiteover18milliontokensoftheircollectibleavatarshavingbeenminted. cryptopolitan.com

AstheUSPresidentialElectiondrawsnear,Bitcoin’sdominanceoverthecryptocurrencymarketisrising.Thispotentiallydampenshopesforanaltcoinseason. Bitcoin’sdominance,measuredbyBTC.D,hasclimbedtoitshighestlevelsince2021.ThissurgecoincideswithsignificantcapitalinflowsintoBitcoinETFsandarelativelystagnantperformanceofmanyaltcoins. BitcoinFortheWin Bitcoindominancemeasuresthecoin’smarketcapitalizationrelativetothetotalmarketcapitalizationofallothercryptocurrencies.Asofthiswriting,itsitsat59.77,itshighestlevelsinceApril2021. WhenBTC.Dclimbs,Bitcoin’sshareofthetotalcryptocurrencymarketcapitalizationisincreasingrelativetoaltcoins.BeInCrypto’sassessmentofitskeymomentumindicatorsconfirmsthestrengtheningbullishbiastowardtheleadingcoinandthelikelihoodofextendeddominance. BitcoinDominance.Source:TradingView Forexample,readingsfromtheBTC.D’smovingaverageconvergence/divergence(MACD)showitsMACD(blue)restingaboveitssignalline(orange)asofthiswriting. ThissetupsuggeststhatBitcoiniscurrentlyseeingincreasingstrengthwithinthecryptomarket,outpacingaltcoinsintermsofmarketcapshare.Itindicatesthatthecurrentmarketconditionsarelessconduciveforanaltcoinseason,withBitcoinlikelytooutperformmanyoftheseassetsinthenearterm. BTC.DMACD.Source:TradingView DemandforBitcoinspotexchange-tradedfunds(ETFs)hassurgedrecently,highlightingstronginterestintheleadingcryptocurrency.Inarecentreport,digitalassetresearchfirm10XResearchindicatedthatrisingBTCETFdemandcoulddriveBitcoin’spriceto$100,000byJanuary2025. “BitcoinspotETFspurchased$4.1billioninOctoberalone—thehighestvolumesinceMarch2024—withbuymomentumshowingnosignsofslowingasallETFbuyersremainprofitable.Lastnight,spotETFsacquiredanadditional$830millioninBitcoin,bringingthe5-daytotalto$2.1billion.WithETFdemandgoingparabolic,Bitcoinissettofollowsuit.Ifthistrendholds,ourquantsignalalsoprojectsapotentialrallyto$100,000bytheendofJanuary2025,”theresearchfirmwrote. TOTAL2ConsolidatesWithinaRange WithcapitalflowingintoBitcoinETFs,individualandinstitutionalinvestorsaremorelikelytoprioritizeBTCinvestmentsoverless-establishedaltcoins.Asaresult,lesscapitalflowsintothealtcoinmarketreducingtheirpricemomentumandtradingvolumes. TOTAL2PriceAnalysis.Source:TradingView ThishasplayedoutasreflectedbyTOTAL2’s(thetotalmarketcapitalizationofallcryptocurrenciesexcludingBitcoin)sidewaysmovementssinceearlyAugust.WhileBTC.Dhasrallied,TOTAL2hasconsolidatedwithinthe$967billionand$856billionpricerange. Thisconsolidationindicatesthataltcointradershavebeenuncertainaboutthenextdirectionpriceswilltake.Thishasledtodecreasedvolatilityandtradingvolume,furtherdelayingthealtcoinseason. AltcoinSeasonIndex.Source:BlockchainCenter Moreover,thealtcoinseasoncommenceswhenatleast75%ofthetop50altcoinsoutperformBitcoinoverathree-monthperiod.RecentdatafromBlockchainCenterrevealsthatonly29%ofthesetopaltcoinshavesurpassedBitcoin’sperformanceinthepast90days—wellbelowthe75%thresholdrequiredtodeclareanaltcoinseasonofficially. beincrypto.com

TheUSTreasuryDepartmentsaidtokenizationandstablecoinsareemergingforcesthatcouldtransformtheTreasurymarket,emphasizingboththebenefitsoftheseinnovationsandtheriskstheycarry,accordingtoarecentreport. Thereportnotedthatastokenization—theprocessofrepresentingassetsdigitallyonablockchain—takesroot,theTreasurymarketcouldseemajoradvancesinefficiency,expandedaccessforinvestors,andenhancedtransparency. However,itcautionedthatstablecoins,nowincreasinglyreliantonTreasuriesforcollateral,mayposesignificantrisksifnotcloselyregulated. Tokenization TokenizationistoutedasapotentialbreakthroughforTreasurymarkets.Itpromisesenhancedefficiencythroughatomicsettlements,wheretransactionsareclearinrealtime.Thislevelofspeedandreliabilitycouldeliminatemanyrisksassociatedwithdelayedsettlements,suchascounterpartyfailuresandfinancialbacklogs. TheTreasuryreportsuggestedthattokenizedTreasuriescouldbeintegralinestablishingfaster,moreefficientsettlements,afeatureparticularlyvaluableintimesofmarketvolatility. Beyondefficiency,tokenizationcouldhelpdemocratizeaccesstoTreasuriesbyenablingfractionalownership.Thiswouldallowretailinvestorswithlimitedcapital,aswellasinternationalparticipants,toownportionsofTreasurybonds,typicallyanareadominatedbylargeinstitutionalinvestors. Accordingtothereport,fractionalizationcoulddeepentheinvestorbaseandcontributetomarketstabilitythroughdiversifieddemand.ThisalignswithbroaderTreasurygoalsoffosteringamoreinclusivefinancialsystemandexpandingitsreachwithoutcompromisingintegrity. Stablecoinsandassociatedrisks Whiletokenizationpromisesefficiency,stablecoinsbringliquidityandaccessibilitytoTreasury-backeddigitalassets.Stablecoins,digitaltokenspeggedtoastableassetliketheUSdollar,haveincreasinglyturnedtoTreasuriesforcollateral. ThereportnotedthattheshifthasdrivendemandforTreasurysecurities,addingliquiditytothemarket.However,itwarnedthatstablecoins,particularlythoseoperatingwithlimitedregulatoryoversight,poseauniquesetofchallenges. Accordingtothereport,thekeyconcerninvolvesthe“de-pegging”risksstablecoinsface,wherefluctuationsinthecryptomarketcancausestablecoinstotemporarilylosetheirdollarpeg.Historicalexamples,includingtheTerraUSDcollapseandTether’soccasionalpeglosses,highlightthepotentialinstabilityofstablecoinmarkets. Ifastablecoinweretoexperienceasharpsell-off,itcouldtriggerarapidliquidationofTreasuries,potentiallycausing“firesales”anddisruptingthebroaderTreasurymarketatcriticaltimes. Thereportrecommendsregulatingstablecoinsakintonarrowbanksormoneymarketfunds,ensuringtheymaintainrobustcollateral,predominantlyinshort-termTreasuries,toavoidliquiditystrains.Withoutstringentregulation,stablecoinscouldbecomeadestabilizingforceintheTreasurymarket,especiallyifinvestorsentimentshiftssuddenlyandpromptsmassredemptions. cryptoslate.com

NYSEArca,aleadingsecuritiesexchange,haspetitionedUSregulatorsforapprovaltolistanexchange-tradedfund(ETF)basedontheGrayscaleDigitalLargeCapFund. TheGrayscaleDigitalLargeCapFund,createdin2018,holdsadiversifiedportfolioofdigitalassets,includingprominentcryptocurrencieslikeBitcoin,Ether,Solana,Avalanche,andXRP,andisvaluedatapproximately$565million. GrayscalefiledtoconvertthefundintoanETF Notably,GrayscaleInvestments,apioneeringcryptocurrencyassetmanager,filedtoconvertitsDigitalLargeCapFundintoanETFonOctober16,justdaysbeforeNYSEArca’sapplication. ThefundtrackstheCoinDeskLargeCapSelectIndex,holdingfivedistinctcryptocurrenciestoprovideamorediversifiedexposuretothedigitalassetmarket. Grayscale’sinitiativemarksanattempttoofferbroaderaccesstocryptocurrencyinvestmentthroughanETFthatholdsarangeofassetsbeyondthetypicalBitcoinandEther-onlyETFs. WhileseveralassetmanagersarevyingtointroducecryptoindexETFs,Grayscale’sapproachisdistinctiveforitsinclusionofalternativecryptocurrencies. CompetingfirmssuchasHashdexandFranklinTempletonhavesubmittedapplicationsforcryptoindexETFsthatinitiallylimittheirholdingstoBitcoinandEther. Grayscale’sbroaderselection,includingSolanaandAvalanche,representsauniqueofferingintheevolvinglandscapeofcrypto-basedfinancialproducts. Expertssuggestthisdiversifiedbasketofassetsmightappealtoinvestorslookingforexposuretoawiderarrayofdigitalcurrencies,beyondtheestablishedheavyweightsofBitcoinandEther. PushforcryptoindexETFs ThepushforcryptoindexETFscomesafterearliersuccesseswithsingle-assetETFs,specificallythoseholdingBitcoinandEther,whichlaunchedinJanuaryandJulyofthisyear,respectively. KatalinTischhauser,headofinvestmentresearchatcryptobankSygnum,highlightedthepotentialforindex-basedcryptoETFstostreamlinecryptocurrencyinvestmentforthegeneralpublic,drawingaparalleltotraditionalstockindicesliketheS&P500. InarecentinterviewwithCointelegraph,Tischhausernoted, ThenextlogicalstepisindexETFsbecauseindicesareefficientforinvestors—justlikehowpeoplebuytheS&P500inanETF.Thiswillbethesameincrypto. ThesurgeincryptocurrencyETFfilingsalsoreflectsastrategicstanceaheadoftheupcoming2024USpresidentialelection. Analystsspeculatethatregulatorystancesoncryptomightvarydependingontheelection’soutcome. DuringthePlanBForumconferenceinOctober,BloombergETFanalystEricBalchunassuggestedthataTrumpadministrationcouldappointamorelibertarian-mindedSECchair,potentiallyopeningdoorsforcryptocurrencyinnovation,whereasaHarris-ledadministrationmightadoptamorecautiousapproach. AsidefromGrayscale,otherfirmshavelineduptofiletheirowncrypto-focusedETFs,includingVanEck,21Shares,CanaryCapital,andBitwise,eachtargetingdifferentassetclasseswithinthedigitalcurrencymarket,includingLitecoinandSolana. Thesefilingsreflecttheindustry’santicipationthatregulatorychanges,combinedwithgrowinginvestorinterest,couldfurtherlegitimizeandexpandthecrypto-ETFmarket. AstheNYSEAcra’sdecisionawaitsregulatoryreview,marketparticipantsarecloselywatchingthepotentialimpactsofadiversifiedcryptoETF,especiallyonethatreflectsabroadersegmentofthecryptocurrencyecosystem,whichmayprovidebothinvestorsandinstitutionswithanefficientnewentrypointtodigitalassets. ThepostNYSEArcaaimstobringGrayscaleDigitalLargeCapFundETFtothemarketappearedfirstonInvezz invezz.com

NYSEArcahasfiledanapplicationwiththeSECtolistaGrayscaleexchange-tradedfund(ETF)featuringadiversearrayofcryptocurrencies,markingasignificantpushtoexpandinstitutionalaccesstodigitalassets. TheGrayscaleDigitalLargeCapFund,acryptoindexportfoliocreatedin2018,includespopularcryptocurrencieslikeBitcoin,Ethereum,andSolanaalongsideotheraltcoins.Theapplicationfollowsthefirm’srecentOct.16filingtoconvertthefundintoanETF. Ifapproved,theGrayscaleDigitalLargeCapFundETFwouldintroduceinvestorstoamixedbasketofdigitalassets,positioningitselfasamoreinclusivealternativetotraditionalBitcoinorEther-focusedETFs. TheproposedfundstandsoutfromcompetitorsbytrackingtheCoinDeskLargeCapSelectIndex,whichincludesfivedistinctdigitalassets,offeringabroaderapproachforthoseseekingexposurebeyondBTCandETH. Thefundcurrentlyholdsapproximately$565millioninassetsundermanagement(AUM). CompetingETFs Grayscale’scompetitionincludesofferingsfromHashdexandFranklinTempleton,bothofwhichhavefiledforindexETFsthatwouldinitiallyfocusonBitcoinandEtheralone. Additionally,VanEck,21Shares,andCanaryCapitalhavesubmittedmultiplefilingstolistspotETFsconnectedtoSolana,XRP,andLitecoin. IndustryanalystssuggestthattheoutcomeoftheupcomingUSpresidentialelectioncouldsignificantlyimpacttheregulatorylandscapeforcryptoETFs. BloombergETFanalystEricBalchunasrecentlycommentedthatawinbyformerpresidentDonaldTrumpmightprompttheSECtoadoptamorepro-cryptostance,potentiallyacceleratingapprovalsforETFswithdiversecryptoassetholdings. NYSE’sproposalhighlightsthegrowingdemandforcryptoindexETFs.WhiletheSEChasyettoapproveabroad-basedcryptoindexETF,thefilingmaysignifyanewwaveofcryptoinvestmentoptions,openingthedoortodiversified,institution-friendlyaccesstotheexpandingdigitalassetmarket. cryptoslate.com

The2024generalelectionhasn’tevenwrapped,butCoinbaseisalreadyfundingacrypto-politicswarchestfor2026. OnWednesday,theexchangepledgedtogivecryptosuper-PACFairshake$25millionin2025forthefollowingyear’smidtermelections. “Thecryptovoterisalreadyaforcetobereckonedwith,butitwillcontinuetogrow,”CEOBrianArmstrongsaidinaXpost.ThenextCongress“willbethemostpro-crypto”yet,heasserted,adding,“we’renotslowingdown.” Crypto-industrydollarscontinuetofloodAmericanpolitics:multiplePACsarespendingbigoncandidatesperceivedtobefavorabletocrypto.Fairshake,oneofthelargest,isalsospendingagainstanti-cryptocandidates,mostnotablyKatiePorter,wholostherprimarybidforaCaliforniasenateseat. ThepledgebringsCoinbase’stotalcommitmentstoFairshakecloseto$100million,makingittheindustryPAC’ssinglemostimportantfunder.Fairshakehasraisedover$200millionthiselectioncycle. coindesk.com