“The review period for the application is now extended by 45 days from May 26. In late April, the SEC delayed a decision on VanEck’s bitcoin ETF application to at least June. In late May, WisdomTree filed an ethereum (ETH, +3.47%) ETF application.
Meanwhile, WisdomTree bitcoin and ethereum exchange-traded products have recently begun trading in Amsterdam and Paris.“
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“Institutional investors continue to exit BTC in favor of ETH, with Ether investment products now representing more than one-quarter of institutional crypto AUM.
According to CoinShares’ June 1 Digital Asset Fund Flows Weekly report, the past week saw significant institutional inflows of $74 million as investors sought to capitalize on the fall out from the recent crash in which many crypto assets lost more than 50% of their value. More than 63% of institutional inflows were injected into Ether products, or $46.8 million of the total.
Significant inflows were also made to products offering exposure to multiple crypto assets ($11.1 million) as well as funds targeting Cardano ($5.2 million), XRP ($4.5 million), and Polkadot ($3.8 million).
Outflows from Bitcoin products have slowed, with roughly $4 million in capital exiting the markets — down from last week’s $110.9 million in outflows.”
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“Standard Chartered said they have formed a venture to create a digital asset brokerage and exchange platform for institutional and corporate clients in Europe. OSL is said to be the world’s first SFC-licensed, listed, digital asset wallet-insured, Big 4 audited digital asset trading platform for institutions and professional investors.
Initially targeting the European market, the U.K.-based company will seek to connect institutional traders to counterparties across markets, delivering access to pools of liquidity in bitcoin, ethereum and other digital assets.“
“Google is tightening its restrictions on those seeking to pitch cryptocurrency exchanges and wallets to U.S. customers.
Effective Aug. 3, anyone seeking to advertise those products to U.S. customers will have to be registered with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) or a federal or state chartered bank regulator Google announced.
All prior certifications by Google will be revoked at that time. No changes were announced for other regions.”
“In Tuesday’s briefing, Jean-Pierre said combating ransomware is now “a priority” for the Biden government. ‘Expanding cryptocurrency analysis‘ is part of the U.S. president’s new review of ransomware attacks.
President Biden has already launched a rapid strategic review to address the increased threat of ransomware to include four lines of effort … [including] expanding cryptocurrency analysis to find and pursue criminal transaction[s].
Other lines of inquiry include evaluating how ransomware is distributed and working with other nations to ‘hold countries who harbor ransom actors accountable.'”
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“Domestic and cross-border payments could be dominated by non-domestic providers, according to the report.
The report gives as an example ‘foreign tech giants potentially offering artificial currencies.’ Market dominance by such a privately issued currency would leave consumers and businesses vulnerable should it threaten the stability of the financial system.
The European Commission and the ECB have been discussing the potential launch of a digital euro since the start of 2021, with central bank President Christine Lagarde saying in March that one could be launched within four years, should the decision be taken to proceed.”
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“Crypto exchange Kraken is bringing its mobile app to U.S. customers, having launched in Europe earlier this year. Customers in the U.S. will be able to trade the 50+ tokens available on Kraken’s platform from their mobile phones as of today.
Kraken announced in March that it is considering a stock market debut in 2022, following rival Coinbase’s suit.”
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