A digital asset
investment fund
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Viska is an alternative investment fund based in Iceland that invests in digital assets.
It is safe to say that this week has been excellent for the crypto industry.
On Monday, strong rumors emerged that the U.S. Securities and Exchange Commission (SEC) had begun extensive communications with applicants for Ethereum exchange-traded funds (ETFs), suggesting an increased likelihood that the applications would be approved this week. Communication between the SEC and the applicants had been almost nonexistent in recent weeks, indicating that the SEC intended to reject the applications. Therefore, market expectations at the beginning of the week were very low.
Donald Trump’s stance on crypto turns positive
On Tuesday, Donald Trump's presidential campaign announced that the campaign could be supported with contributions in cryptocurrencies. The announcement also stated that the campaign would build a cryptocurrency army to march to victory in the upcoming elections:
“MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th!”
Read more here: https://www.cnbc.com/2024/05/21/trump-campaign-starts-taking-cryptocurrency-donations.html
Important bill passed in the U.S. House of Representatives
On Wednesday, the U.S. House of Representatives passed a bill that could be called the “Financial Innovation and Technology for the 21st Century Act,” also known as FIT21. This is also a major milestone for the progress of the cryptocurrency sector in the United States, as the bill creates exemptions for cryptocurrencies from securities regulations for cryptocurrencies that achieve sufficient decentralization. This means that the SEC no longer has overall supervision over cryptocurrencies except to a small extent.
Read more here: https://www.barrons.com/articles/bitcoin-crypto-bill-fit21-coinbase-stock-e0713031
Ethereum ETFs approved
Last night, the SEC approved several exchanges' applications to list Ethereum ETFs, which was very unexpected, as mentioned earlier. This is huge news for the cryptocurrency industry, as Ethereum is the second-largest cryptocurrency, and traditional investors' access to this product is significantly increasing.
Read more here: https://www.reuters.com/technology/us-sec-approves-exchange-applications-list-spot-ether-etfs-2024-05-23/
As has been mentioned, Bitcoin ETFs have been incredibly popular, as evidenced, for example, by the fact that no ETF in history has reached $10 billion in assets as quickly as IBIT, which is BlackRock's Bitcoin ETF.
