BREAKING: Bitwise Files for XRP ETF via Delaware Trust - What Does it Mean?
Are you ready to dive into the world of cryptocurrency and learn about the latest developments in the space? In this article, we'll explore the exciting news surrounding Bitwise's filing for an XRP ETF via a Delaware trust. We'll also examine the potential implications of this move and what it could mean for investors.
The Rise of Crypto ETFs
In recent years, cryptocurrency exchange-traded funds (ETFs) have gained significant attention from investors and regulators alike. These investment vehicles allow individuals to buy and sell cryptocurrencies like Bitcoin and Ethereum on traditional stock exchanges, making it easier for new entrants to join the market.
Bitwise Takes a Crucial Step
Bitwise, a prominent crypto asset manager, has taken a crucial step towards launching an XRP ETF by establishing a Delaware trust as a precursor to the exchange-traded fund. This move follows a pattern seen in the crypto ETF sector, where companies create trusts before seeking approval from the SEC for an exchange-traded product.
The SEC's Cautionary Stance
However, the path to an approved XRP ETF may face challenges due to the SEC's cautious stance on crypto-based ETFs. The regulatory environment is still evolving, and it remains to be seen how the SEC will ultimately decide on Bitwise's application.
Arthur Hayes Attributes Bitcoin's Rise to Global Monetary Policies
But what drives the value of cryptocurrencies like Bitcoin? Former BitMEX CEO Arthur Hayes has attributed the success of Bitcoin as the "best-performing asset in human history" to global monetary policies rather than regulatory factors. He suggests that the rise in value can be linked to the expansionary monetary policies implemented by central banks worldwide, particularly the quantitative easing measures taken during the COVID-19 pandemic.
Metaplanet Adds 107.9 BTC to Holdings
Meanwhile, Metaplanet Inc., listed on the Tokyo Stock Exchange, has made a significant investment by purchasing an additional 107.913 bitcoins (BTC) worth $69.42 million (approximately one billion yen). This acquisition brings their total holdings to 506.7 BTC, marking a substantial expansion of their cryptocurrency portfolio.
Argentina's VP Shows Interest in Bitcoin
In other news, Argentina's Vice President Victoria Villarruel has expressed interest in El Salvador's experience with Bitcoin and its innovative volcanic mining projects. This conversation highlights the growing global attention to Bitcoin as a tool for economic development.
Bitwise Initiates XRP Coin ETF Application
But what's happening with Bitwise's XRP ETF application? The company has submitted an ETF application for XRP Coin to the Delaware website. However, the SEC's deadline for appealing the Ripple case is set to expire on October 7, which may impact the approval of an XRP Coin ETF.
Coinbase Expands Altcoin Listings
In a move that could have significant implications for altcoin investors, Coinbase has added new altcoins to its listing roadmap. The exchange typically selects assets based on their roadmap, and announcements about new listings can significantly impact altcoin market prices.
Base Lead Jesse Pollak Takes Over Coinbase Wallet Efforts
But what's happening with Base? Jesse Pollak, founder of Base, will now head Coinbase's Wallet team and join Coinbase's executive team. This move is expected to accelerate the mission of bringing a billion people and a million builders into the crypto space.
Top Analyst Says RWA Tokens Like MKR and this Altcoin Rival Under $0.03 Are Preparing for a Bullish Breakout
But what's driving the value of cryptocurrencies like Maker (MKR)? A top analyst predicts that RWA tokens like MKR and RCO Finance (RCOF), an upcoming altcoin rival under $0.03, are preparing for a bullish breakout.
October's Token Unlock Event: TIA, SUI to Lead $1 Billion Affair
Finally, October marks significant token unlock events for several major projects. Celestia (TIA) will have the largest token unlock event this month, scheduled for September 30th, with 175.56 million TIA tokens being unlocked, representing 81.86% of the circulating supply.
Conclusion
In conclusion, the world of cryptocurrency is constantly evolving, with new developments emerging every day. From Bitwise's filing for an XRP ETF via Delaware trust to Base Lead Jesse Pollak taking over Coinbase Wallet efforts, there are many exciting stories unfolding in the space.
Call-to-Action
So what do you think about the latest developments in the world of cryptocurrency? Share your thoughts with us in the comments below! Whether you're a seasoned investor or just starting out, we want to hear from you. Let's continue the conversation and explore the exciting possibilities that lie ahead for this rapidly evolving industry.