Crypto

The Securities and Exchange Commission (SEC) approved orders allowing authorized participants to create and redeem shares of spot Bitcoin (BTC) and Ethereum (ETH) exchange‑traded products (ETP) in kind. According to a July 29 statement, the agency framed the move as aligning crypto funds with standard practice in commodity‑based ETPs. Additionally, it said the change should […] The post SEC approves in‑kind redemptions for spot Bitcoin and Ethereum ETFs appeared first on CryptoSlate.

After three days of witness testimony, Storm’s defense team rested their case on Tuesday.

The largest Ethereum treasury firm, which holds more than $2 billion worth of ETH, announced the repurchase plan that will be open-ended, allowing periodic buybacks of its common stock. 

The decision allows authorized participants to create and redeem ETF shares directly in BTC or ETH, rather than having to use cash.

The regulator has extended its decision deadline for similar proposals this year.

The firm days ago sold nearly $2.5 billion of its new preferred series, dubbed STRC or "stretch," and quickly deployed the funds into BTC.

The SEC has approved in-kind redemptions for crypto ETFs, enabling a feature sought by Bitcoin and Ethereum fund issuers.

SEC Chair Paul Atkins said the new rules will make crypto exchange-traded products "less costly and more efficient." The US Securities and Exchange Commission (SEC) has approved in-kind creation and redemption for cryptocurrency exchange-traded products (ETPs), giving authorized representatives the ability to exchange shares directly for the underlying crypto assets instead of cash. In a Tuesday announcement, the securities regulator stated that approved Bitcoin (BTC) and Ether (ETH) funds will be permitted to create and redeem shares on an in-kind basis. “It’s a new day at the SEC, and a key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets,” SEC Chairman Paul Atkins said in a statement. Read more

ChatGPT’s XRP Analysis details a $3.09 price holding above the 200-day EMA at $2.88 while trading below shorter EMAs, with volume off 13%. Bloomberg has raised ETF approval odds to 95%, and SEC case progress has supported sentiment, framing a breakout toward $3.50 or a pullback to support. The post ChatGPT’s 28-Indicator XRP Analysis: 95% ETF Odds Ignite Battle Over $3.11 Support Line appeared first on Cryptonews.

Keonne Rodriguez and William Lonergan Hill both previously pleaded not guilty, but are expected to change their pleas in Manhattan on Wednesday morning.

Billionaire Bill Miller IV says proof‑of‑stake blockchains such as Ethereum and Solana are unlikely to “win at the end of the day,” arguing that Bitcoin’s proof‑of‑work design confers a durability other networks can’t match.  In a July 28 interview with CNBC’s “Closing Bell,” the billionaire investor said recent US policy moves may give proof‑of‑stake assets […] The post Billionaire Bill Miller IV says Ethereum and Solana won’t win ‘at the end of the day’ appeared first on CryptoSlate.

Bitcoin eyes upside breakout to $122,000, but fading spot ETF flows, lack of volumes and seasonality could stall bullish momentum thereafter. Key takeaways: Bitcoin targets $122,000, where $2 billion in short liquidations are clustered but Q3 seasonal data hints at downside. A falling RSI, spot BTC ETF outflows, and low trading volumes point to weakening bullish momentum. Read more

The trading giant says that using blockchains will help transfer wealth from older generations to younger ones.

CoinDCX is “not for sale,” says CEO, rejecting reports of a $900M Coinbase acquisition as the platform recovers from a $44M hack.

Both prosecutors and defense attorneys have made statements in court about a T-shirt Roman Storm wore at a 2019 Ethereum conference in Boston. Before Roman Storm’s defense attorneys rested their case on Tuesday, one matter that seemed to provoke some controversy in the courtroom was a T-shirt the Tornado Cash co-founder and developer wore at a crypto event in 2019. During opening statements in the US District Court for the Southern District of New York, both prosecutors and Storm’s lawyers reportedly brought up a Tornado Cash T-shirt the developer wore, which claimed to “wash” Ether (ETH) through the mixing service. A video posted by a 2019 ETHBoston attendee appeared to show Storm wearing the shirt, which stated “I keep my Ether clean with Tornado.cash,” showing a washing machine that resulted in “clean” ETH. Read more

Vincent Mazzotta has pleaded guilty to money laundering and conspiracy to obstruct justice after promising high-yield crypto returns through Mind Capital, Cloud9Capital and a fake Federal Crypto Reserve. The scheme cost investors $13 million; he faces up to 15 years when sentenced Dec 15. The post Vincent Mazzotta Admits $13M Crypto Ponzi – But Did His Fake ‘Federal Reserve’ Fool Regulators? appeared first on Cryptonews.

With its stock trading below net asset value, BitMine has chosen to focus on buybacks instead of further growing its ETH reserve. BitMine Immersion, a Bitcoin mining company and Ether's largest publicly traded holder, has announced the approval of an open-ended $1 billion stock buyback program to repurchase its outstanding shares through open market or negotiated transactions. With shares trading below the company’s net asset value (NAV), BitMine has opted to repurchase its stock rather than allocating more capital to expand its Ether (ETH) reserve, at least for now. The company’s NAV per share is estimated at $22.76, witth crypto holdings of 625,000 ETH and 192 Bitcoin (BTC), according to a press release on Monday. Rather than continue accumulating ETH at elevated prices, BitMine is using the NAV gap as a trigger for buybacks, aiming to increase per-share value and investor exposure to Ethereum reserves. Read more

A new report by Standard Chartered identifies publicly traded Ethereum (ETH) treasury companies as a distinct and rapidly evolving asset class, separate from exchange-traded funds (ETFs) and traditional crypto investment vehicles. According to the report, these firms are not holding ETH for speculative purposes. Instead, they are positioning their balance sheets around staking yields, DeFi […] The post StanChart predicts corporates will control 10% of Ethereum supply over time appeared first on CryptoSlate.

Surging ETH and BNB activity, alongside shifting USDT flows, are all signals that traders are pivoting into altcoins. Key takeaways: The dominance of Ether’s futures volume surpassed Bitcoin for the first time since 2022. Tron-ecosystem stablecoin activity rose, pointing to capital inflows into the altcoin ecosystem. Read more

The US Securities and Exchange Commission (SEC) acknowledged on July 29 a Nasdaq proposal to amend BlackRock’s iShares Ethereum Trust (ETHA) so the fund may stake the ETH it holds.  Nasdaq’s filing would delete a prior representation that neither BlackRock nor the custodian would use any ETH held by the exchange-traded fund (ETF) to validate […] The post SEC filing starts countdown on BlackRock’s Ethereum ETF staking proposal appeared first on CryptoSlate.