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As per the source, Nasdaq has filed for approval from the U.S. Securities and Exchange Commission (SEC) to introduce an exchange-traded fund (ETF) that offers investors exposure to a diversified basket of digital assets. This initiative aims to provide a regulated avenue for both retail and institutional investors to engage with multiple cryptocurrencies through a single investment vehicle. The Nasdaq Crypto Index (NCI): A Benchmark for Digital Assets To support this ETF, Nasdaq has co-developed the Nasdaq Crypto Index (NCI) in partnership with Hashdex, a prominent global crypto-focused asset manager. The NCI is designed to reflect the performance of a broad spectrum of the cryptocurrency market, ensuring that only assets meeting stringent liquidity, market capitalization, and custody standards are included. As of February 20, 2025, the NCI’s composition includes: Bitcoin (BTC): 74.71% Ethereum (ETH): 11.73% Ripple (XRP): 6.59% Solana (SOL): 4.24% Cardano (ADA): 1.37% Litecoin (LTC): 0.48% Chainlink (LINK): 0.45% Avalanche (AVAX): 0.25% Uniswap (UNI): 0.19% This diversified approach aims to mitigate the volatility associated with individual cryptocurrencies by providing balanced exposure across multiple digital assets. Growing Institutional Interest and Market Impact The cryptocurrency sector has witnessed a surge in institutional adoption, especially following the SEC’s approval of spot Bitcoin ETFs in early 2024. These ETFs have collectively amassed over $120 billion in assets under management within a year, signaling robust demand from institutional investors. The introduction of a diversified crypto ETF by Nasdaq is poised to further accelerate this trend, offering a more comprehensive investment option that appeals to a broader audience. Industry experts anticipate that such innovations will “turbo-charge the crypto ETF industry,” leading to increased liquidity and potentially more stable pricing in the cryptocurrency markets. However, regulatory challenges persist, particularly concerning the classification of various digital assets as commodities or securities, which could impact the ETF’s composition and approval process. Conclusion Nasdaq’s proactive approach in developing a diversified crypto ETF underscores the evolving landscape of digital asset investments. By collaborating with Hashdex to create the Nasdaq Crypto Index, Nasdaq aims to provide investors with a regulated and efficient means to gain exposure to the burgeoning cryptocurrency market. As the SEC reviews this proposal, the financial community eagerly awaits a decision that could further legitimize and expand access to digital assets. FAQs What is the Nasdaq Crypto Index (NCI)? The NCI is a benchmark index co-developed by Nasdaq and Hashdex to track the performance of a diversified basket of cryptocurrencies. It ensures inclusion based on strict liquidity, market capitalization, and custody standards. Which cryptocurrencies are included in the NCI? As of February 20, 2025, the NCI includes Bitcoin, Ethereum, Ripple (XRP), Solana, Cardano, Litecoin, Chainlink, Avalanche, and Uniswap. How does a diversified crypto ETF benefit investors? A diversified crypto ETF offers exposure to multiple cryptocurrencies within a single investment, potentially reducing the risk associated with investing in a single digital asset. What regulatory challenges could affect the approval of Nasdaq’s crypto ETF? The SEC’s classification of digital assets as either commodities or securities plays a crucial role in the approval process, as it determines the regulatory framework applicable to the ETF. When is the expected decision from the SEC regarding Nasdaq’s crypto ETF proposal? While the exact timeline is uncertain, the SEC typically reviews ETF proposals within a few months. The financial community is closely monitoring for updates. Glossary of Key Terms Exchange-Traded Fund (ETF): An investment fund that trades on stock exchanges, holding assets such as stocks, commodities, or bonds, and offers investors a proportionate share in the fund’s assets. Nasdaq Crypto Index (NCI): A benchmark index developed by Nasdaq and Hashdex to measure the performance of a diversified basket of cryptocurrencies. Securities and Exchange Commission (SEC): The U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry. Spot Bitcoin ETF: An ETF that provides direct exposure to Bitcoin by holding the actual cryptocurrency, as opposed to futures-based ETFs that hold derivative contracts. Institutional Investors: Organizations that invest large sums of money into securities, real estate, and other investment assets; examples include banks, insurance companies, pensions, and hedge funds. Liquidity: The ease with which an asset can be bought or sold in the market without affecting its price. Market Capitalization: The total market value of a cryptocurrency, calculated by multiplying its current price by its total supply. Custody Standards: Regulations and practices ensuring that digital assets are securely stored and managed on behalf of investors. Commodity vs. Security: A commodity is a basic good used in commerce that is interchangeable with other goods of the same type, while a security represents an ownership position in a corporation (stock), a creditor relationship with a governmental body or corporation (bond), or rights to ownership as represented by an option. Sources nasdaq.com ft.com

The U.S. Securities and Exchange Commission (SEC) endorsed the first yield-bearing stablecoin, marking a change in the stablecoin market. Stablecoins are crucial in digital finance, processing billions of dollars in daily transactions. Until now, they have provided stability but lacked direct returns for holders. The approval presents a regulated option that offers yield while maintaining price stability. The SEC granted approval to Figure Certificate Co. to offer a new type of stablecoin, YLDs. Unlike traditional stablecoins that generate revenue for issuers but provide no direct yield to users, YLDs will offer returns. The yield comes from reserves invested in assets such as U.S. Treasuries and commercial paper. The SEC classified YLDs as certificates , making them subject to securities ordinances. This categorization differs from major stablecoins such as USDT, which does not offer yield despite earning revenue from reserves. The approval establishes a regulatory framework for stablecoins that generate passive income. The approval places Figure Markets in direct competition with existing stablecoins used for payments, lending, and cross-border transfers. Tether remains the dominant player, while BlackRock’s BUIDL stablecoin serves institutional investors. Figure Markets expects YLDs to compete across various financial applications. A Tether co-founder recently announced plans to launch a similar product, reflecting increased interest in stablecoins that provide returns. The approval signals potential growth in this asset class, with more financial products expected to enter the market. Figure Markets submitted its confidential S-1 filing to the SEC in August 2023. The company worked under SEC regulations to gain approval. Industry experts estimate that additional yield-bearing stablecoin approvals may take six to 12 months. Stablecoins remain a focus for U.S. policymakers . A recent executive order from the Trump administration expressed support for stablecoin development. Congress continues working on legislation to establish a structured regulatory framework. With regulatory approval secured, yield-bearing stablecoins may change how investors engage with digital assets. The development provides new options for earning passive income while preserving the stability of stablecoins. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

TL;DR Whales have purchased almost $400 million worth of XRP in the last two days, which could potentially drive upward pressure on the asset’s valuation. Growing anticipation for a spot XRP ETF, with SEC acknowledgment of filings from Grayscale, 21Shares, and Bitwise, could provide a major catalyst for future price movement. Time for Another Rally? While XRP remains in green territory on a weekly scale, the price has recorded some setbacks in the past few days. It plunged below $2.50 on February 18 before rising above the current $2.60 (per CoinGecko’s data). According to the popular X user Ali Martinez, whales have used the recent drop as an opportunity to accumulate additional tokens, buying 150 million XRP in the last 48 hours. As of writing these lines, the stash equals almost $400 million. Continuous efforts in that field will reduce the coin’s circulating supply, potentially making it more valuable (assuming demand doesn’t head south). In addition, the actions of those investors are sometimes mirrored by smaller players who might also join the ecosystem, thus injecting fresh capital. Shortly after highlighting the whales’ efforts, Martinez outlined a price prediction for Ripple’s native token. Based on the potential breaking out of an ascending triangle on the lower time frames, he believes it might climb by 4% to $2.68. Another person who chipped in was EGRAG CRYPTO. They suggested that XRP needs to stay above $2.69-$2.73 in the 4-hour time frame to invalidate the bearish count and begin a bullish continuation. ETFs Pile up An important factor that may positively impact the price of the asset is the possible approval of a spot XRP ETF in the US. Such a product will enable investors to gain exposure without having to purchase or hold the token. Some of the companies that have already displayed their intentions to introduce that type of investment vehicle include Grayscale, 21Shares, and Bitwise. It is worth noting that the US Securities and Exchange Commission (SEC) officially acknowledged their applications. This means that these applications are now under the regulator’s review, awaiting approval or rejection. The deadline for the final decision is 240 days from the initial filings. According to Polymarket, the chances of an approved XRP ETF before July 31 are 44%, while the odds of that to happen before the end of 2025 are 78%. The post Ripple Whales Go on a Buying Spree Again: Is XRP Ready for New Heights? appeared first on CryptoPotato.

In this post: LTP, an institutional prime brokerage firm, announced that its subsidiary LiquidityTech Limited (LTP HK) acquired five types of HK SFC licenses. The newly acquired licenses will allow LTP HK to deal in securities and futures contracts, advise on securities and futures contracts, and manage assets. LTP HK became the first prime brokerage focused on virtual assets to secure a comprehensive suite of HK SFC licenses. LTP announced today that its subsidiary LTP HK had secured types 1, 2, 4, 5, and 9 licenses from the Hong Kong Securities and Futures Commission (HK SFC). LTP HK became the first prime brokerage to deal in securities and futures contracts, advise on securities and futures contracts, and manage assets. LTP disclosed that LTP HK was now licensed to offer a range of financial services to institutional clients, including proprietary trading firms, hedge funds, asset managers, and corporate investors. According to LTP, the regulatory achievement solidified LTP HK’s credibility and leadership within the dynamic financial services landscape. Jack Young, the founder and CEO of LTP, said regulatory compliance was the ‘fundamental pillar’ of the firm’s institutional prime brokerage services. He added that LTP was committed to serving institutional clients who demanded secure high-performance trading infrastructure. LTP HK increases its financial service offerings with new HK SFC licenses LTP announced that its Hong Kong subsidiary, LTP HK, had gained approval for a type 1 HK SFC license, which allowed the company to deal in securities. LTP HK also received type 2 licensing, allowing it to deal in futures contracts. Types 4 and 5 licenses authorized LTP HK to advise on securities and futures contracts, respectively. The type 9 SFC license allowed LTP HK to engage in regulated asset management. HK SFC recently announced its swift licensing process and revamped the second phase of its assessment of virtual asset trading platforms (VATPs). The agency disclosed that its proactive engagement and enhanced communication with VATPs to provide direct and effective guidance on its expected regulatory standards were key to the swift licensing process. LTP stated that the LTP HK’s approvals from the HK SFC aligned with the company’s commitment to regulatory compliance, institutional-grade services offering, and investor protection. “This regulatory milestone marks a strategic leap forward in our mission to bridge traditional finance with digital asset innovation.” -Ethan Wang, CEO of LiquidityTech Limited (LTP HK) Wang added that LTP HK was set to empower institutions with compliant customer-protected solutions that drove growth in evolving markets as Hong Kong cemented ‘its role as a global hub for financial innovation.’ The HK SFC had earlier identified various deficiencies and substandard conduct during the course of its supervision of licensed corporations engaged in asset management. Hong Kong SFC streamlines licenses for virtual asset managers The HK SFC recently published a circular detailing a new streamlined licensing process that now applies to all new applicants for a virtual asset trading platform (VATP) license. The single external assessment conducted after the applicant had implemented all its internal systems and controls replaced the two-phased external assessment previously required. Previously, applicants for virtual asset trading platform licenses–under the HK SFC’s Scope of External Assessment Reports published in June 2023–were required to engage an external assessor to submit two assessment reports to the SFC. The phase 1 report was submitted with the license application, and the effectiveness of the design of the license applicant’s proposed policies was assessed. The phase 2 report was submitted by an external assessor after the SFC granted approval-in-principle of the virtual asset trading platform license application and assessed the effectiveness of the policies, procedures, and the systems and controls actually implemented. External assessors are required to submit only one assessment report under the new streamlined licensing process. HK SFC confirmed that assessment was required to ensure that a VATP applicant’s systems and controls, policies, and procedures were suitably designed and implemented to meet the requirements of the SFC’s VATP and AML/CFT guidelines. The circular contained no details of the required terms of reference, scope, and specific areas to be covered by the single assessment report. According to the HK SFC, these details were available in the now defunct Scope of External Assessment Reports.

The U.S. Securities and Exchange Commission (SEC) has asked for another 28 days to reply to Coinbase’s request for a special appeal, pushing the new deadline to March 14, 2025. The SEC mentioned its recently created Crypto Task Force as something that could change how the case plays out. This delay might mean the agency is changing its regulatory game plan, possibly rethinking how it deals with cryptocurrency rules. Related: SEC Faces Coinbase Appeal Deadline as Trump Eyes New CFTC Chair Judge Failla had previously given Coinbase permission to file this special appeal. This allows the exchange to challenge whether current securities laws should even apply to digital assets. The SEC was supposed to respond by February 14, 2025. However, the agency now wants more time, referencing the ongoing work of the Crypto Task Force. Coinbase has agreed to the delay, so the case will remain on hold for now. This type of appeal lets a court review a decision while the rest of the case is still going on. By taking more time to respond, the SEC may be playing it safe. They might be waiting for direction from the task force before making a final decision on their next move. Related: Coinbase, Ripple CEOs Gain Profits With Pro-Crypto Election Victory The SEC’s legal fight with Binance has also been temporarily stopped. On February 10, 2025, both sides jointly asked for a 60-day pause , also citing the Crypto Task Force’s potential influence on regulatory decisions. This suggests a wider rethink of how the SEC will enforce regulations across the crypto industry. Experts had thought that other companies, like Ripple and Kraken, might also ask for delays. They would want their cases to align with the SEC’s evolving position. This regulatory shift could mean that major exchanges might get some breathing room from legal pressure while the SEC works out its new strategy. Regulatory developments have coincided with a leadership shakeup at the SEC. Hours before President Trump’s inauguration, Gary Gensler stepped down as SEC chairman, paving the way for pro-crypto attorney Mark Uyeda to assume the role of acting chair. Under Uyeda, the SEC created the Crypto Task Force to provide clearer rules on how federal securities laws should be used for digital assets. The task force, led by SEC Commissioner Hester Peirce, is expected to guide the agency’s regulatory approach going forward. This could lead to a more defined and organized system for overseeing the crypto industry. It may also affect current and future enforcement actions. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.