Bitcoin is having one of those days
BlackRock’s bitcoin ETF IBIT is currently sitting fifth among all U.S. ETFs by trading volume today, with roughly $6 billion changing hands — even ahead of gold giant GLD at No. 9. That’s unusual company for a bitcoin fund and comes amid a sharp Friday rally across crypto. Bitcoin itself jumped ~5% over the last 24 hours and crossed $80,000 again. Not a bad way to head into the weekend. Read more →
Yesterday the SEC. Today the CFTC.
One day after the SEC opened a path for tokenized stocks to trade onchain, the CFTC sent its own crypto-market framework to the White House for review. Details are still under wraps, but Chair Michael Selig has previously said the agency is working to create rules for crypto exchanges and markets using authority it already has. The CFTC also gave certain software developers additional protection from registration requirements yesterday. Despite CLARITY stalling in the Senate, both major market regulators are now moving ahead anyway. Read more →
Coinbase files for U.S. stock perps
Coinbase has filed to bring single-stock perpetual futures to U.S. traders, extending a product that has largely lived in crypto into traditional equities. Perps let traders take leveraged positions without an expiration date, and Coinbase says its version would offer 24/5 exposure to individual stocks. Coinbase already offers regulated crypto perps and stock-index perps in the U.S. Now it wants to bring the same format to individual stocks like Apple, Nvidia and Tesla. Read more →
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