61 Publicly Listed Companies Hold Over 3% of Total Bitcoin Supply.
The Bitcoin reserve strategy trend has led to 61 publicly listed firms now holding a combined 3.2% of all Bitcoin that will ever exist, according to Standard Chartered.
Just 61 public companies out of a total of 124 now own a combined 673,897 Bitcoin, Standard Chartered’s global head of digital asset research, Geoff Kendrick, said in a June 3 report.
Specifically, the amount of Bitcoin held by those 60 companies has doubled in the past two months, from below 50,000 BTC to about 100,000 BTC, the report said.
Kendrick said that such a pace of buying notably outstrips the speed of buying by Strategy, which added 74,000 BTC in the past two months, versus 47,000 by the others.
Russia’s Moscow Exchange Launches Bitcoin Trading via Futures ETF.
Russia’s leading trading platform with a $14 trillion volume, Moscow Exchange, has launched ruble-based Bitcoin ETF futures trading, marking a historic integration of cryptocurrency into the nation’s financial system.
As per the report by local news agency TASS, this new financial instrument is available exclusively to qualified investors, reflecting Russia’s cautious yet progressive embrace of digital assets within traditional markets.
The bitcoin contracts are reportedly benchmarked to IBIT, the U.S.-listed spot bitcoin exchange-traded fund issued by BlackRock. It will show market pricing in USD and settle contracts in the Russian native currency, the ruble.
SEC Delays Decision on Canary’s Spot SUI ETF Filing.
The U.S. Securities and Exchange Commission (SEC) has delayed its ruling on Canary’s application for a Spot ETF following the Sui blockchain’s native token, SUI. Because of this delay, investors and market observers are eager to hear more.
A Spot ETF allows investors to gain exposure to crypto assets like SUI without owning the actual tokens. Canary’s ETF is designed to be unique, as it works to include SUI in the expanding market of crypto-based financial products.
No date has been set for the SEC’s next update. The crypto community will be watching closely, as Spot ETFs promise quicker and more direct crypto access for investors.
JPMorgan to Accept Bitcoin ETFs as Loan Collateral in Expansion of Crypto Access.
JPMorgan will begin accepting shares of BlackRock’s iShares Bitcoin Trust (IBIT) as collateral for loans.
The bank will consider some clients’ crypto holdings when calculating their net worth and liquid assets.
With political and investor pressure mounting, JPMorgan and other banks are moving to accommodate crypto assets.
Hong Kong Set to Allow Crypto Derivatives Trading.
Hong Kong’s securities regulator plans to allow professional investors to trade crypto derivatives, expanding the territory’s virtual asset market.
The crypto derivatives market is significantly larger than spot trading, with $21 trillion in volume in the first quarter compared to $4.6 trillion in spot volume.
Hong Kong’s legislative council recently passed a bill to license stablecoins, further advancing its virtual asset regulations.
Ethereum Foundation Says Next 18 Months ‘Pivotal’ Amid New Treasury Policy.
The Ethereum Foundation is adopting a more structured and transparent treasury policy that ties operational costs and cash needs to its Ether reserves and sales to strengthen its financial position as it anticipates a pivotal 18 months ahead.
Its annual operating cost — measured as a percentage of the EF’s treasury — and the number of years of runway will be reassessed regularly, factoring in market dynamics and community input to ensure the foundation’s short-term operations remain aligned with its long-term strategy, one of the foundation’s directors said on June 4.
The tightened treasury policy follows community backlash over the EF’s unexpected Ether sales in recent months, a series of moves which some critics claimed have undermined trust in the Foundation.
You need to login in order to Like
Leave a comment