Asset manager RexShares’ move to become the first to launch the Solana and Ethereum Staking ETFs in the US has hit a roadblock. The US Securities and Exchange Commission (SEC) sent a letter explaining why these funds may not qualify as ETFs. SEC Replies To RexShares On Solana & Ethereum Staking ETFs According to a Bloomberg report, the SEC sent a letter to ETF Opportunities Trust, the entity that issues several ETFs, including the ones Rex Shares manages, stating that the staked Solana and Ethereum funds may fail to meet the legal definition of an investment company, which is a requirement for them to list on the stock market. The Commission said that it was concerned that RexShares improperly filed the registration statements for these funds and that the disclosures in these statements describing them as investment companies may be “potentially misleading.” As CoinGape reported, the asset manager had chosen… Read More at Coingape.com
Circle Internet Group Inc. (NYSE: CRCL), a top-tier stablecoin issuer, has applied for a national trust bank license in the United States with the Office of the Comptroller of the Currency (OCC). The behemoth stablecoin issuer intends to establish the First National Digital Currency Bank, which would manage its reserves in USDC.
“Circle has long sought to seek the highest standards of trust, transparency, governance, and compliance,” Jeremy Allaire, CEO at Circle, noted. “Becoming a publicly traded company is a significant part of that, becoming a national trust company is again a continuation of that.”
Expected Impact of Circle’s Entrance in the Banking Sector
If approved by the OCC, Circle will join Anchorage Digital, which was issued the national trust bank charter. As a result, more institutional investors’ capital will flow to the crypto market.
To the wider crypto market, liquidity headwinds will be an issue of the past. Moreover, the current U.S. national government, led by President Donald Trump, has laid significant emphasis on clear crypto legislation.
Most importantly, the license will allow Circle to provide custody services for digital assets on behalf of the institutional investors. The palpable success of Circle in the stablecoin market has helped the firm attract more institutional investors, especially in the past year. The recent approval of the Genius Act in the U.S. Senate has increased the overall demand for stablecoins by institutional investors.
Furthermore, President Trump has urged Congress to hasten and pass the GENIUS Act and to facilitate the mainstream development and adoption of stablecoins.
The post Circle Files for National Trust Bank License in the U.S. appeared first on Coinpedia Fintech News
Circle Internet Group Inc. (NYSE: CRCL), a top-tier stablecoin issuer, has applied for a national trust bank license in the United States with the Office of the Comptroller of the Currency (OCC). The behemoth stablecoin issuer intends to establish the First National Digital Currency Bank, which would manage its reserves in USDC. “Circle has long …
The third quarter of the year and the first week of July started off with considerable volatility. Some crypto tokens posted sharp gains, while others suffered losses. However, the weekend is expected to bring about a positive shift in some altcoins.
BeInCrypto has analyzed three altcoins for investors to watch this weekend, owing to their network development.
Jupiter (JUP)
JUP has had a positive week, rising by 12.4% in the last seven days, currently trading at $0.442. The altcoin is consolidating between $0.471 and $0.424, indicating that it may be preparing for a breakout.
The Parabolic SAR indicator is positioned below the candlesticks, signaling a potential uptrend for JUP. This technical pattern suggests that buying pressure may build, which could push the altcoin higher. Additionally, the launch of Jupiter Studio, allowing the community to create tokens, could further increase demand for JUP.
With the Parabolic SAR indicating an uptrend and the launch of Jupiter Studio, JUP has the potential to break the $0.471 resistance. If successful, it could target $0.517. However, without sustained bullish momentum, the altcoin may continue consolidating within its current range, limiting short-term gains.
Dog (Bitcoin) (DOG)
DOG, the meme coin built on Bitcoin, is expected to have an airdrop event over the weekend, with Kraken exchange marketing July 6 as the date. Airdrops typically generate excitement, potentially driving demand for the token.
DOG has gained significant investor attention due to its resilience in the market. Currently trading at $0.0041, the meme coin could move toward $0.0047 if the airdrop generates heightened demand. This potential price increase could make DOG a popular choice for traders looking to capitalize on short-term movements during the event.
However, if the airdrop hype fails to create significant price changes, DOG may experience sideways movement above the $0.0039 support level. A drop below this support would invalidate the bullish outlook, potentially sending the altcoin down to $0.0035.
Hosico Cat (HOSICO)
HOSICO has gained significant attention from investors, with a 172% rise in the past week. The meme coin is currently trading at $0.0514, showing strong momentum. This surge highlights HOSICO’s potential, but market dynamics could shift as the coin faces resistance and investor sentiment evolves in the short term.
The Relative Strength Index (RSI) indicates that HOSICO is overbought due to the recent surge. However, this may lead to a cooling-off period, allowing the altcoin to build momentum for further growth. If the bullish trend persists, HOSICO could break past the $0.0619 resistance, aiming for $0.0775 in the coming weeks.
If sharp selling pressure emerges, HOSICO could lose support at $0.0486. This would invalidate the current bullish outlook, potentially leading to a decline toward $0.0347.
Pi Coin (PI) is currently trading at $0.65, up slightly by more than 1% at the time of writing. While the broader crypto market is showing signs of strength, Pi Coin has remained relatively flat, trading within a narrow range of $0.60 to $0.68 in recent weeks.
Despite the limited price movement, there’s excitement in the Pi Network community with the launch of a new game app, Fruity $PI, now live on the Pi Network Mainnet Ecosystem. The app adds to the growing number of decentralized applications being built on the Pi platform, aimed at improving user engagement and ecosystem activity.
However, some investor frustration is mounting over the coin’s stagnant performance. This sentiment took a humorous turn when a user on social media claimed to have listed 3 PI coins on the OKX exchange for a total of $314,159, stating they were new to using exchanges.
The post quickly went viral, with crypto analyst Dr. Altcoin commenting, “This guy is selling 3 Pi on OKX each for a GCV value of $314,159! Some people have no clue how crypto works.”
This guy is selling 3 Pi on OKX each for a GCV value of $314159! Some people have no clue how crypto works. Dimas @2000Rocker do you care to clarify? https://t.co/uwE9SlhRHB
Another user, @2000Rocker, was tagged in the conversation for clarification, while others chimed in, with one commenter joking, “He’ll have to wait 40 to 50 years to take profit.”
While the post stirred laughs across the community, it also highlighted confusion among some newer users about the coin’s real value versus speculative pricing.
For now, Pi Coin continues to hold steady, with the ecosystem gradually expanding. Whether new apps like Fruity PI$PI can drive more meaningful price action remains to be seen.
The post Pi Network News: Here’s How a New User on OKX is Selling 3 Pi Coins for $314,159 Each appeared first on Coinpedia Fintech News
Pi Coin (PI) is currently trading at $0.65, up slightly by more than 1% at the time of writing. While the broader crypto market is showing signs of strength, Pi Coin has remained relatively flat, trading within a narrow range of $0.60 to $0.68 in recent weeks. Despite the limited price movement, there’s excitement in …
