The Block
Kraken UK MD Bivu Das said he would support the UK approving a bitcoin ETF.Currently, the UK is getting ready to allow institutional investors access to bitcoin ETNs — but retail users are banned from U.S.-based bitcoin ETFs.
Quick Take This is the first edition in a (probably) weekly take on current events in the crypto space and other musings by The Block’s Editor-In-Chief (me). Today’s topics include further updates on the FTX saga, a missing bird and a double-your-money bug.
In a document filed late on Friday, the SEC said it would take until May 30, 2024, to decide whether to approve Grayscale’s Ethereum futures ETF. Separately, the crypto industry has been focused on a spot ether ETF which gives investors exposure to the cryptocurrency without needing to directly purchase or hold the asset.
Quick Take Federal agencies look to add new positions, increase transparency to detect illicit financial activities and oversee firms engaged in digital assets, according to multiple fiscal year 2025 budget requests submitted over the past month.
Genesis appears to be selling its GBTC shares to buy bitcoin, according to an ETF analyst.Bitcoin’s price fell below $64,000 on March 22.
Quick Take Artificial intelligence startup Anthropic, a competitor of OpenAI, wants to sell shares owned by the defunct crypto exchange FTX, but Saudi Arabian investors are not being considered, according to a report that cites anonymous sources. FTX owns an 8% stake in Anthropic worth more than $1 billion.
Galaxy Digital’s Alex Thorn indicates that approval of spot Ethereum ETFs in May is now highly doubtful due to SEC subpoenas and a lack of engagement.
Sovereign wealth fund investment in bitcoin still faces major hurdles, according to an analyst.
Quick Take In a letter sent to Judge Lewis Kaplan on Friday, U.S. Attorney Damian Williams said the government was submitting a “proposed stipulation and order” in connection to two jets tied to Sam Bankman-Fried. The planes were never used since the upgrades were still being worked on when FTX collapsed in November, according to past court documents.
Quick Take Ethos aims to use re-staking and validation via EigenLayer to secure Cosmos ecosystem chains. It has secured security commitments worth $4 billion from several liquid restaking protocols.
