Daily | Franklin Templeton launches Bitcoin and Ethereum Index ETFs; Binance Alpha adds B3, FLUID, VVV, TOKEN, DRIFT, and CPOOL
Reprinted from chaincatcher
02/21/2025·2MCompiled by: Luan Peng, ChainCatcher
Important information:
- Grayscale Spot XRP ETF has been officially submitted to the Federal Bulletin, with the resolution ending October 18
- Franklin Templeton launches Bitcoin, Ethereum Index ETF
- JPMorgan Chase: crypto market faces weak demand, Trump's positive measures may boost the market
- Zhao Changpeng: Binance has been restricting employees from speculating in currency to protect users' interests and will personally experience the products on-chain
- Bloomberg Analyst: LTC ETF is 90% likely to be approved, and listed in DTCC indicates that issuers have begun to prepare
- 151st Ethereum ACDC Conference: Developers agree to finalize EIP 7872 and EIP 7870, two EIPs
- People familiar with the matter: Hong Kong Securities and Exchange Commission is "actively" negotiating to introduce encrypted ETF pledges under the new roadmap
- Binance adjusts FET, POL, BAN, OM perpetual contract leverage and margin ladder
"What important events have happened in the past 24 hours"
The Grayscale Spot XRP ETF (19b-4 Application) has been formally submitted to the Federal Gazette, which means that from now on, the SEC will begin review and will decide whether to approve or reject the application by October 18.
The 19b-4 application is a formal document submitted by Grayscale to the SEC, aiming to apply for the launch of an exchange-traded fund (ETF) based on XRP. The document has been officially released in the Federal Gazette, marking the official beginning of the review process.
Under the regulations, the SEC needs to make a decision by October 18. During this time, the SEC may communicate with Grayscale to request more information or clarify related issues.
Franklin Templeton launches Bitcoin, Ethereum Index ETF
Franklin Templeton announced the launch of an exchange-traded fund (ETF) that holds both spot Bitcoin and Ethereum. The Franklin Crypto Index ETF (EZPZ) is the second cryptocurrency index ETF to enter the U.S. market, after asset management company Hashdex launched the Nasdaq Crypto Index US ETF (NCIQ) on February 14.
The EZPZ Fund holds assets referenced by the US CF Institutional Digital Asset Index. As of February 20, the index tracks only Bitcoin and Ethereum. As of February 20, the market capitalization weighted index's assets constituted approximately 87% BTC and 13% ETH, according to CF Benchmarks data.
Franklin Templeton plans to hold more cryptocurrencies in the future, and as the index expands, it will eventually provide a one-stop crypto portfolio for US investors.
JPMorgan Chase: crypto market faces weak demand, Trump 's positive measures may boost the market
JPMorgan said in a report on Wednesday that the cryptocurrency market lacks positive catalysts in the near term.
Bitcoin and Ethereum futures are approaching spot premiums in recent months, a sign of a decline in demand, the report said. "This is a negative development showing weak demand for institutional investors who have access to the two cryptocurrencies exposure using regulated CME futures contracts," said a team of analysts led by Nikolaos Panigirtzoglou.
The bank noted that weak demand could be due to: Trump administration's aggressive cryptocurrency measures are more likely to begin in the second half of the year, meaning institutional investors may profit from the lack of short-term catalysts. JPMorgan added that the decline in demand for systemic and momentum-driven funds such as CTA has also affected Bitcoin and Ethereum futures.
Regarding the discussion on the differences in product strategies between Binance and OKX, Binance founder Zhao Changpeng responded that Binance (CEX) has always restricted employees from speculating in coins to protect user interests, but this has also made it difficult for product managers to understand user needs in-depth. Zhao Changpeng said that such decisions will be handed over to management, and said that he will personally experience the on-chain products. "On Chain, you should indeed experience the products. Let's try it out after a few local dogs."
According to Bloomberg ETF analyst Eric Balchunas, although the listing of LTC ETF in DTCC does not mean that the product has been approved or trading is about to begin, it shows that the issuer is preparing for future approved transactions, and the approval may be the current one Sex remains at 90%.
Previous news , Canary's LTC ETF has been listed on the DTCC website with the code LTCC.
151st Ethereum ACDC Conference: Developers agree to finalize EIP 7872 and EIP 7870, two EIPs
Christine Kim, vice president of research at Galaxy, posted a post to summarize the 151st Ethereum Core Developer Consensus (ACDC) conference call. During the meeting, the developers discussed the client team's preparation for the Pectra upgrade on the Holesky testnet and the follow-up to PeerDAS Devnet 5. The developer also agreed to finalize EIP 7872, the maximum blob flag for the local builder, and hardware and bandwidth recommendations for EIP 7870, validator and full nodes.
According to The Block, the Hong Kong Securities Regulatory Commission (SFC) previously released a new roadmap, planning to launch 12 new initiatives including crypto ETF staking. Ru Haiyang, chief risk officer of HashKey, a Hong Kong licensed cryptocurrency exchange, revealed that the company is actively consulting with the Hong Kong Securities Regulatory Commission on ETF pledges, tokenized money market funds and "Earn" functions.
According to Hex Trust CEO Alessio Quaglini, institutional pledge business will become a key area of focus in 2025. Gary Tiu, executive director of another licensed exchange OSL, also said that customers' demand for earnings products and derivatives is growing.
Binance adjusts FET, POL, BAN, OM perpetual contract leverage and margin ladder
According to Binance announcement, the leverage and margin ladder of FETUSDT, POLUSDT, BANUSDT and OMUSDT perpetual contracts will be adjusted at 17:30 on February 21, 2025 (Beijing time).
The announcement pointed out that this adjustment will affect existing positions, and the grid trading strategy may expire due to the update of the leverage and margin ladder. Binance recommends that users make corresponding adjustments in a timely manner before the adjustment takes effect.
Utah Bitcoin Reserves Act passes Senate Taxation Committee review
According to Cointelegraph, Utah HB230 "Blockchain and Digital Innovation Amendment" passed the state Senate Tax Committee on February 20 with a 4-2-1 vote. The bill will enter the second and third readings of the Senate program.
Under the bill, to be a reserve asset, the average market value of a digital asset in the previous calendar year must reach $500 billion or more. Currently, only Bitcoin meets this requirement.
The bill also authorizes the state finance minister to participate in cryptocurrency pledge business, and the state finance department can invest no more than 5% of digital assets in each of the five state accounts, including general budget funds, income tax fund budgets and state disaster recovery accounts.
Binance Alpha adds B3, FLUID, VVV, TOKEN, DRIFT, CPOOL
According to official news, Binance Alpha has added B3, FLUID, VVV, TOKEN, DRIFT, and CPOOL.
SBF, former FTX CEO and co-founder, said in an interview with The New York Sun at Brooklyn Prison that he believes he was wrongly convicted.
SBF said his biggest mistake was allowing the law firm Sullivan & Cromwell to take over FTX in November 2022. He said he should have continued to deal with liquidity issues rather than letting the firm take over and misleading clients.
As a result of this decision, millions of customers were told that the funds were exhausted and had to wait two years before they could start receiving payments, and the SBF believed that the funds should be safe from the start.
SafeMoon CTO admits to participating in $200 million cryptocurrency fraud case
SafeMoon Chief Technology Officer Thomas Smith pleaded guilty to his involvement in a $200 million cryptocurrency fraud case.
Thomas Smith, CEO of SafeMoon Technology, withdrew his previous plea of innocence before District Court Judge Cheryl Pollak and conspired to conspire and telecommunications fraud against securities fraud and telecommunications fraud, according to documents filed in Brooklyn Federal Court on February 20. Conspiracy to plead guilty.
Judge Pollack advises U.S. District Judge Eric Komitee, who is in charge of hearing the Smith case, to accept the new request.
Telecom fraud co-conspiracy can be sentenced to up to 20 years in prison, while securities fraud co-conspiracy can be sentenced to up to 25 years in prison.
“What are some great articles worth reading in the past 24 hours”
Sam Bankman-Fried elaborated on his views on the bankruptcy of FTX, the legal struggle, the political situation in the United States, and the future of the cryptocurrency industry.
On February 20, Dr. Xiao Feng, Chairman and CEO of HashKey Group, delivered a keynote speech entitled "Block Chain: Starting from the Origin" at the Web3 Voyage event hosted by HashKey Chain. The following is the full text of the speech, compiled from the on-site shorthand, and some of them are deleted that do not affect the original intention.
Hello everyone, first of all, welcome to our on-site meeting today.
On August 28, 2023, we held a sailing ceremony for our Hong Kong Exchange HashKey Exchange at the same location, the Hong Kong Maritime Museum. Hong Kong is a harbour city, so we specially chose this symbolic place to hold the opening ceremony. Today is the second time the group has held an event here.
HashKey Exchange is one wing of HashKey, and HashKey Chain is the other wing of HashKey Group.
In today's speech, I will explain in detail why HashKey Chain is so important to us.
Aptos accuses Monad of plagiarism, robbing technology or catching traffic?
Perhaps due to the official announcement of HyperEVM, Monad, a competitor in the L1 track, finally couldn't sit still. Just one day after HyperEVM went online, the project led by Paradigm to raise $225 million in April was finally launched on the test network.
However, among the community cheers and various airdrop tutorials, another L1 rival Aptos posted a message directly on social media platform X to plagiarize Aptos technology. So a war of words began.
The $2 billion SOL token is about to be unlocked. Can the current market bear it?
On March 1, FTX's bankruptcy auction of 11.2 million SOLs will be unlocked, worth $2.06 billion, and the number of unlocked tokens accounts for about 2.29% of the current SOL circulation supply.
With such a huge selling pressure and the sluggish market, the SOL currency price performance is quite sluggish. Since the Trump TRUMP concept coin triggered a market craze in January this year, SOL once hit its all-time high of $295, and then fell all the way. The weekly line has fallen for four years and has fallen to a low of around $160. Is it Solana's turn to be FUD?
This article will discuss the impact of this event from multiple perspectives such as unlocking background and potential market impact.
On February 18, 2025, FTX's first round of creditor compensation was officially launched, marking the entry of this two-year bankruptcy liquidation into a critical stage. However, the market's attention is focused on another potential risk: on March 1, FTX's bankruptcy auction of 11.2 million SOL tokens will be unlocked, worth up to $1.9 billion. Although the settlement of compensation in fiat currency seems to be "moderate", SOL's huge circulation expectations have caused market concerns, and the aftermath of FTX's asset sell-off will once again impact the crypto ecosystem. Is it over-panicity or is the risk not fully priced?
Meme Popular List
According to the market data of Meme token tracking and analysis platform GMGN , as of 19:50 on February 21:
The top five popular Ethereum tokens in the past 24 hours are: LINK, SHIB , ONDO, UNI, USDe
The top five popular tokens in the past 24h are: TRUMP , WPEPE , WNEIRO, RAY , PENGU
The top five popular tokens in the past 24h Base are: AI , GPS, AERO , VIRTUAL, BRETT
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