Cryptocurrency

Enhancing ETF Trading Efficiency through In-Kind Redemptions

Monday. January 27 at 9:00 PM

1 min. read

Nasdaq has submitted a proposal to the SEC to improve IBIT’s redemption system by allowing authorized participants to exchange shares for physical Bitcoin supplies. The company, on behalf of BlackRock, suggests changing the rules of its Bitcoin spot ETF application to enable ETF share exchanges directly for Bitcoin holdings instead of cash payments. This modification offers a new alternative to cash transactions in ETF management. The in-kind asset exchange setup, as stated in Nasdaq's application, replaces cash-in-and-out operations at the Trust, benefiting ETF performance and simplifying operations for institutional investors with authorized participant status. The plan aims to enhance ETF trading efficiency by reducing effort and involving fewer participants, ultimately providing better trading options and lower tax liability for institutional investors. This move could set a precedent for other cryptocurrency ETF applications, shaping market standards for Bitcoin ETF operations.

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Cracking Down on Crypto Crime: Spanish Authorities Freeze $26.4 Million in Cryptocurrencies

Monday. January 27 at 11:00 PM

Spanish law enforcement, in partnership with blockchain companies Tron, Tether, and TRM Labs, has seized $26.4 million in cryptocurrencies associated with a pan-European money laundering scheme. The investigation, conducted in collaboration with the T3 Financial Crime Unit, utilized police surveillance to uncover the criminal organization. By leveraging Know Your Customer data from service providers, the T3 Unit executed its largest coordinated freeze, following a previous $126 million freeze in its inaugural year. Tron's security measures have significantly reduced illicit activity on its blockchain, with 58% of such activities occurring on the network. Tether's USDT is the most commonly used asset for criminal purposes. Stablecoin issuers like Tether have mechanisms in place to block transactions linked to illegal activities, sending a clear message to criminals attempting to misuse these platforms.

Cryptocurrency

The Growing Crypto Token Market

Monday. January 27 at 10:00 PM

The cryptocurrency market is expected to experience significant growth in the number of tokens, with projections indicating that by 2025, the count could surpass 100 million. Currently, there are more than 36 million crypto tokens, and the rate of new token introductions is escalating. Crypto analyst Conor highlighted this rapid expansion, forecasting 100 million tokens by the end of 2025. However, concerns have arisen due to the increasing oversupply of tokens surpassing demand. This may result in shorter and less frequent altcoin seasons, where many tokens witness rapid surges. Investors are advised to adjust their strategies and focus on tokens with solid fundamentals. With the market flooded with numerous tokens, distinguishing valuable projects becomes crucial. Despite the challenges, experts believe that altseasons will persist but will prioritize tokens with genuine value and effort over others.

Cryptocurrency

Enhancing ETF Trading Efficiency through In-Kind Redemptions

Monday. January 27 at 9:00 PM

Cryptocurrency

Poland Surpasses El Salvador in Bitcoin ATM Network Expansion

Monday. January 27 at 5:00 PM

Poland has recently added 10 new Bitcoin ATMs, bringing its total to 219 machines and surpassing El Salvador as the fifth-largest cryptocurrency ATM network globally. The country has been on a four-month installation spree since October 2024, adding 24 crypto ATMs. While the US and Canada lead the global ATM network, El Salvador, once the third-largest hub, has not increased its capacity. In contrast, Poland continues to expand, installing 12 new ATMs in January alone. Crypto ATMs, now totaling 38,100 globally, provide grassroots exposure to citizens and aid the unbanked. Despite concerns about money laundering, these machines remain crucial for cryptocurrency accessibility. Australia has shown consistent growth in crypto ATMs, joining the 1,000+ club in April 2024 alongside the US and Canada.

Cryptocurrency