Bitcoin and several major altcoins have continued their march higher, indicating improving investor sentiment and sustained demand from the bulls. Key points: Bitcoin has reacted positively to the US operations in Venezuela, improved investor sentiment. Several altcoins have risen above their near-term resistance levels, indicating the start of a relief rally. Read more
The cash distribution stems from staking rewards earned after the fund enabled Ethereum staking in October. Grayscale has declared a staking rewards distribution for its Ethereum Staking exchange-traded fund (ETF), the first time a US-listed spot crypto exchange-traded product (ETP) has scheduled a payout tied to onchain staking activity. Grayscale Ethereum Trust ETF (ETHE) shareholders will receive about $0.08 per share from proceeds of the sale of staking rewards, with the payout scheduled for Tuesday based on holdings recorded at market close on Monday, according to a press release published on Monday. Grayscale activated staking for its Ethereum products on Oct. 6, with staking conducted through institutional custodians and third-party validator providers. The move made ETHE and Grayscale Ethereum Mini Trust ETF (ETH) the first US-listed spot crypto ETPs to gain exposure to Ether staking. Read more
Wu Blockchain reported the policy change listing Real-World Asset tokenization alongside stablecoins, ”air coins,” and crypto mining as illegal activities in China. Several of the largest financial industry associations in China have reportedly signaled that the country’s regulators could crack down on Real-World Asset (RWA) tokenization. According to a notice shared by Wu Blockchain on Monday, the Asset Management Association of China, National Internet Finance Association of China, the China Banking Association, the Securities Association of China, the China Futures Association, the China Association for Public Companies, and the China Payment Clearing Association will no longer consider RWAs as “new technology” subject to regulatory clarification but rather as a “risky” business model. The association listed RWAs, stablecoins, ”air coins,” a term for tokens lacking real value, and mining as illegal activities related to cryptocurrencies. Read more