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As of Jan. 2, approximately 65% of USDC supplies are on Ethereum, 10% are on Solana, and roughly 15% span Base and Arbitrum — both Ethereum layer 2s — as well as Hyperliquid, a layer 1 for low-latency trading.
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As previously reported, AMF started accepting CASP applications in August 2024, or about six months ahead of the Markets in Crypto-Assets regulations, which are set to be fully enforced on Dec. 30.
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The other two AMF-approved CASPs include Deblock SAS and GOin SAS, which received their authorizations in June 2023 and September 2022, respectively.
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Sygnum flagged the proposed Financial Innovation and Technology for the 21st Century Act (FIT21) and Payment Stablecoin Act as especially important for crypto.
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Altcoins will only thrive if US lawmakers create rules “tailored to the asset class allow[ing] projects to pass value to tokenholders without triggering a compliance burden they cannot reasonably fulfill,” the report said.
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This trend will only extend to alternative cryptocurrencies if the United States passes laws supporting crypto adoption, Sygnum said.
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The rise in Bitcoin’s recognition goes far beyond its recent price surge. It reflects a domino effect where the growing frenzy around Bitcoin fuels further adoption and expansion of a dynamic and driven industry. Bitcoin has entered broader conversations on politics, policy and global finance.
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Today’s crypto gold rush isn’t just about hitting the jackpot. It’s about being part of a provocative and transformative movement. It’s a shift redefined by wealth, innovation, curiosity and the promise of something new.
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Gold has been the cornerstone of investment for thousands of years, but investors have gravitated toward digital currencies. Crypto is now viewed as a high-risk, high-reward opportunity that offers returns the gold market can’t match.
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Bitcoin, often called the industry’s godfather, has earned the moniker “digital gold.” This term represents the driving force behind the next frontier of investment, excitement and opportunity. The growing urgency to jump on the bandwagon before it’s “too late” is evident as the market gains legitimacy, prices surge and regulations coalesce. As Pantera founder Dan Morehead recently remarked, “Buying Bitcoin in 2013 was like buying gold in 1,000 BC.’”
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We live in an extraordinary era of Web3 and blockchain technology. Despite being a relatively young industry, today’s mass adoption and enthusiasm surrounding digital assets is unprecedented. More people are getting involved and more people are talking about it. Hesitation is quickly fading.
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MicroStrategy’s stock, which trades under the ticker MSTR, has outperformed Bitcoin this year, gaining 511% since January, according to Yahoo Finance.
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One week earlier, between Nov. 18–24, MicroStrategy purchased $5.4 billion worth of Bitcoin at an average price of $97,862.
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MicroStrategy is showing no signs of slowing its Bitcoin acquisition strategy. Earlier this week, the company announced that it purchased 15,400 BTC for $1.5 billion between Nov. 25 and Dec. 1.
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According to MSTR Tracker, MicroStrategy was sitting on nearly $40.8 billion worth of Bitcoin when the price crossed the historic milestone. The business intelligence firm, which has pivoted to becoming a “Bitcoin treasury company,” has roughly 402,000 BTC on its balance sheet as of Dec. 5.
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MicroStrategy’s Bitcoin buying spree has earned the company more than $17 billion in unrealized profit after the BTC price smashed through $100,000 for the first time in history.
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On Nov. 26, NYSE Arca filed to list a Bitwise ETF featuring direct spot Bitcoin and Ether exposure. On Nov. 20, the firm also registered a statutory trust in Delaware for a proposed spot Solana ETF.
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Bitwise Asset Management currently has over $11 billion in AUM and has recently been making moves in the market. On Nov. 27, the firm rebranded its European XRP ETF, launched in 2022, to Bitwise Physical XRP ETP.
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The SEC has not set a deadline to reject or approve the application, but has acknowledged the submission.
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Coinbase Custody is listed as the partner for the crypto component of the ETF. The Bank of New York Mellon is listed as the custodian for the fund’s cash holdings, the Trust’s administrator and the transfer agent.
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