Spot Bitcoin ETF Volume Nears $2 Trillion; Multiple Crypto Catalysts and Headwinds Emerge
The SEC’s proposal to scrap key NMS rules could boost tokenized stocks. BlackRock filed for a yield-bearing Bitcoin ETF. Avalanche Treasury Co. shares fell 38% on Nasdaq debut. Cumulative spot Bitcoin ETF volume is nearing $2 trillion.
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- The SEC proposed eliminating certain NMS rules, which analysts say could act as a major catalyst for tokenized U.S. equities.
- BlackRock filed a Form 8-A for its proposed yield-bearing Bitcoin ETF, signaling an imminent launch.
- Blockrise CEO Jos Lazet argued that “anarchistic neobanks” represent Bitcoin’s next banking frontier.
- Avalanche Treasury Co. began trading on Nasdaq, with shares closing down 38% on their first day.
- Relai CEO Julian Liniger said AI investments are absorbing liquidity, contributing to Bitcoin’s current bear market.
- Metaplanet agreed to acquire licensed brokerage Siiibo Securities for $13 million.
- Bitwise’s André Dragosch warned Bitcoin could fall another 20%, pointing to $48,000 as a possible “max pain” level.
- Bitcoin Ekasi’s Hermann Vivier noted that institutional adoption is clashing with Bitcoin’s original ethos.
- South Korea’s finance ministry stated that tokenized stocks should be treated as securities, not virtual assets.
- Cumulative trading volume for U.S. spot Bitcoin ETFs is on track to surpass $2 trillion less than two and a half years after launch.
- Ethena Labs will allocate $250 million to Securitize’s tokenized AAA CLO fund, which is going live on Solana.
Source: The Block News Feed