By Kapil Rajyaguru
Franklin Templeton Launches Bitcoin, Ether Index ETF.
Franklin Templeton has launched an exchange-traded fund (ETF) holding both spot Bitcoin and Ether, the asset manager said on Feb. 20.
Franklin Crypto Index ETF (EZPZ) is the second cryptocurrency index ETF to hit the market after asset manager Hashdex launched its Nasdaq Crypto Index US ETF (NCIQ) on Feb. 14.
Franklin Templeton plans for EZPZ to hold additional cryptocurrencies as they are added to the index, eventually serving as a one-stop-shop crypto portfolio for US investors.
SEC Approves First Interest-Bearing Stablecoin in U.S., Offering 3.85% Yield to Verified Holders.
The Securities and Exchange Commission (SEC) has approved the first interest-bearing stablecoin registered as a security in the United States. Figure Markets’ YLDS stablecoin, pegged to the U.S. dollar, offers a 3.85% yield and operates under SEC oversight.
Unlike major stablecoins such as Tether (USDT) and USD Coin (USDC), which generate interest from reserves but do not distribute it to holders, YLDS allows users to earn daily interest while maintaining liquidity.
Bitcoin Treasury Bandwagon Reaches Africa as Altvest Jumps on Board.
Altvest Capital (ALV) became the first listed company in Africa to adopt bitcoin (BTC) as a strategic treasury asset, the company said in a press release Friday.
Altvest said it bought one bitcoin for its strategic treasury, following a path set by Strategy (MSTR) in the U.S. and Metaplanet in Japan.
The Johannesburg-based company paid $98,200 for just over 1 BTC, and said it doesn’t plan to buy alternative cryptocurrencies.
Strategy’s Michael Saylor Says The US Should Aim To Hold 20% of Bitcoin.
Strategy founder Michael Saylor has stressed the importance of America having a strategic Bitcoin reserve, suggesting that it should buy up 20% of the BTC network.
Saylor also said the risks of not doing so would be “that you wouldn’t want the Saudis to buy it first, or the Russians, or the Chinese or Europeans.”
At current prices, 20% of the circulating supply of BTC is around 4 million coins, which would be worth roughly $392 billion at current prices.
Strategy, which rebranded from MicroStrategy on Feb. 5, is the world’s largest corporate holder of BTC, with 478,740 coins worth around $47 billion at current prices.
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