Law & Policy

What happened in the crypto industry last week (Sep 30 - Oct 6)?

1/ Bitwise Registers XRP ETF Trust:
Bitwise has registered a trust organization for an XRP-based ETF. A company representative confirmed preparations for launching the ETF. This registration is the first step towards listing and trading ETF shares. Subsequently, Bitwise submitted an S-1 application to the SEC for a spot XRP ETF, with Coinbase Custody serving as the custodian.

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Head of web3&crypto practice at Buzko Krasnov law firm

1/ Bitwise Registers XRP ETF Trust:
Bitwise has registered a trust organization for an XRP-based ETF. A company representative confirmed preparations for launching the ETF. This registration is the first step towards listing and trading ETF shares. Subsequently, Bitwise submitted an S-1 application to the SEC for a spot XRP ETF, with Coinbase Custody serving as the custodian.
https://www.sec.gov/Archives/edgar/data/2039525/000121390024084334/ea0216197-s1_bitwise.htm

2/ CFTC Advances Tokenized Stock Use:
The CFTC has made significant progress in the use of tokenized shares of money market funds. A subcommittee has developed recommendations for this asset class and voted to forward them to a higher authority for approval. This move brings BlackRock and Franklin Templeton closer to using tokenized fund shares as collateral.

2/ CFTC Advances Tokenized Stock Use:
The CFTC has made significant progress in the use of tokenized shares of money market funds. A subcommittee has developed recommendations for this asset class and voted to forward them to a higher authority for approval. This move brings BlackRock and Franklin Templeton closer to using tokenized fund shares as collateral.
https://www.bloomberg.com/news/articles/2024-10-02/use-of-blackrock-tokens-as-collateral-moves-closer-to-mainstream?sref=3REHEaVI