The historic transfer of the US Securities and Exchange Commission (SEC) in favor of digital assets is emerging as one of the most significant development of the current Trump administration. However, investors may not fully understand what the crypto adoption means and its integration into the main part of American financial services.
That is one of the main takeaways from recent comments by Bitwise CIO Matt Hougan, who believe that markets are breaking the tail regulations that make up the world’s largest economy.
Project CryptoThe SEC initiative to modernize its approach to digital assets, was released last week as a direct response to the working White House group in digital assets. The program aims to create clearer, more and more crypto regulations forward.
The Crypto Biz this week’s Crypto Biz covers the emerging SEC, including its latest guide to liquid staking tokens, Hougan’s commentary, continued to adopt the institutional adoption of Bitcoin and the growing momentum of the IPO industry throughout the crypto industry.
SEC said that “some liquid staking activity” has fallen out of security laws
In an ongoing move toward more clearly regulation of digital assets, US SEC clarified this week that some liquid staking skills Do not form security offerings – and therefore does not fall under its scope.
The clarification came through a staff statement published on August 5, in which the agency said “depending on the facts and events, the liquid staking activities covered in the statement were not involved in the offer and sale of security.”
The SEC defines liquid staking as a process of staking cryptocurrencies through a protocol or software, which receives a liquid receipt token in return representing the owner.
“Today’s staking staking statement is a significant step forward in clarifying the staff’s perspective on crypto asset activities that does not fall inside the SEC area,” said the SEC chair Paul Atkins.
Liquid staking has a $ 57 billion industry in all protocols, according to Defillama. Liquid staking on Ethereum account for $ 51 billion of total.
SEC’s pro-crypto shift is not fully priced at-bitter
The market is not yet fully account for continuous SEC support towards the crypto industry, according to Bitwise cio matt. He believes investors are underestimating what could be the most Bullish shifts for digital assets in recent memory.
Houngan pointed out a recent speech by Sec Chair Paul Atkins at the American First Policy Institute, where Atkins named the blockchain as a foundation for the future of financial markets. Hougan admitted that he was caught by the comments “Off Guard,” which asks if the market is truly a priest to them.
“The most bullish document I’ve read in crypto has not been written by some Yahoo on Twitter. It was written by the SEC chairman,” Hougs said.
Atkins recently made many statements on Pro-Crypto, which tells CNBC in July that “tokenization is a change,” and confirms that the The period of “regulation by implementation” is over under his leadership.
The Michigan Pension Fund boosts exposure to bitcoin
The Michigan state retirement system has Its significant ramp its exposure to bitcoin.
According to the latest filings of regulation, the State Pension Fund held 300,000 shares of Ark 21shares Bitcoin ETF (ARKB) until June 30, worth approximately $ 10.7 million. It marks a sharp increase from 110,000 shares reportedly owned a year before.
Recognizing that the fund was held in its position, its Bitcoin exposure value was likely to grow, strengthened by the recent Bitcoin growth of more than $ 110,000 – and a short spike last $ 123,000 in July.
Michigan is not the only state pension fund that invests in Bitcoin ETFs. Earlier this year, the state of the Wisconsin Investment Board Announced $ 321 million in BTC exposure by blackrock ishares bitcoin trust (ibit).
CoinDesk’s owner’s eyes are $ 4.2 billion appreciation for IPO
Bullish, the digital asset exchange behind CoinDesk, the world’s second largest publication by viewership, is pursuing an initial public (IPO) offering that can appreciate the company up to $ 4.2 billion.
According to SEC filings, the company aims to raise between $ 568 million and $ 629 million by its US IPO, with strong interest reportedly -secured from major institutional investors, including Blackrock and Ark investment management subsidiaries.
Bullish targets a sharing price between $ 28 and $ 31, offering 20.3 million shares and bringing an expected appreciation to $ 4.2 billion.
Join the company a Growing waves of crypto companies Looking for public lists this year, in conjunction with names like BitGo, Kraken and OKX.
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