'End of an era:' SEC approval of exchanges' listing standards marks turning point for crypto ETFs https://t.co/DNSSLg8cNR ...

Core Viewpoint - Grayscale's Digital Large Cap Fund (GDLC), which tracks major cryptocurrencies including XRP, Solana, and Cardano, has received SEC approval for listing on the New York Stock Exchange, marking a significant development in the crypto ETF landscape [1][2]. Group 1: Fund Details - GDLC is designed to track the five largest and most liquid digital assets, with Bitcoin comprising 72% of the fund's weighting, Ethereum at 17%, and XRP, Solana, and Cardano at 5.6%, 4%, and 1% respectively [3]. - The fund is set to begin trading on Friday following the SEC's approval [2]. Group 2: Regulatory Context - The SEC's approval comes after a period of regulatory uncertainty, including an indefinite pause in July, and indicates a shift towards more favorable conditions for crypto ETFs [2][6]. - The SEC has established new generic listing standards for commodity-based products, which could facilitate the launch of additional crypto ETFs in the future [2][6]. Group 3: Industry Impact - Grayscale's CEO expressed gratitude towards the SEC for their efforts in providing regulatory clarity, highlighting the importance of this approval for the crypto industry [4]. - The approval of GDLC follows a legal victory for Grayscale against the SEC, which previously rejected several applications for converting their Bitcoin fund into an ETF [6][7].

Group 1 - Bitcoin dominance is currently at 57.79% and is expected to decrease further, despite experts predicting a rise in Bitcoin prices to new highs this year [1][6] - Following a recent Federal Open Markets Committee meeting, Bitcoin's price increased by 1% and reached a peak just below $118,000, marking its highest price in over a month [2][3] - Analysts forecast Bitcoin prices could reach between $140,000 and $145,000 by year-end, driven by rate cuts and a shift of funds into Bitcoin as a safe haven amid expectations of USD devaluation [3] Group 2 - Short-term trends indicate a rotation of traders into altcoins, particularly ahead of anticipated SEC approvals for various crypto ETFs, which may temporarily affect Bitcoin dominance [4] - Notable altcoins like XRP and BNB have seen significant price increases, with XRP rising 3% to $3.12 and BNB climbing about 5% to $996, setting a new all-time high above $1,000 [4] - Solana has experienced a substantial increase of almost 6% in the past day, reaching $248, and has risen 35% over the last month, largely due to corporate treasury purchases [5] Group 3 - Users on the Myriad prediction market are bearish on Bitcoin dominance, with 53% believing it will drop to 53% before potentially recovering to 63% [6] - The last time Bitcoin dominance was at 63% was in mid-July, coinciding with Bitcoin's previous all-time high above $112,000 [6]

🇧🇷 LATEST: At Meridian by @StellarOrg, Brazil Crypto Report founder @AaronWStanley breaks down how Brazil is leading the way in crypto ETFs:👍 Approved its first ETF in 2021👍 Now has at least 15 trading👍 Home to the first SOL + XRP ETFs https://t.co/0k3UE8m7qt ...

Market Trends & Cryptocurrency Performance - Crypto majors mostly rallied post-FOMC [1] - Bitcoin increased by 1% to $117,300 [1] - Ethereum increased by 2% to $4,580 [1] - XRP increased by 3% to $3.11 [1] - Solana jumped 5% to $247 [1] - BNB crossed $1,000 for the first time [1] - Memecoin leaders are mostly green post-FOMC [2] ETF & Regulatory News - Bitcoin ETFs saw $51 million in net outflows [1] - SEC approved a generic listing standard which will greatly accelerate the approval process for crypto ETFs [1] - NYDFS told banks to adopt blockchain analytics for AML/sanctions controls [1] Partnerships & Integrations - Moneygram is embracing stablecoins in partnership with Crossmint [1] - Kraken and Circle are partnering to expand stablecoin access with USDC & EURC integration [1] Token & Protocol Developments - ASTER soared to $0.47 and a $750 million market cap ($3.75 billion FDV) [2] - Project X announced its Phase 2 allowing any coin from any chain to be trading directly on their platform with 0 aggregator fees [2] - Token Works and PNKSTR announced perpetual machine rollouts for 5 new NFT collections [1][2] - Bio Protocol raised $6.9 million in seed funding [3] NFT Market - ETH NFT leaders were mostly green after the TokenWorks news [3] - Punks floor price decreased by 1% to 48.3 ETH, Pudgy increased by 2% to 10.5 ETH, BAYC increased by 2% to 9.3 ETH [3]

Crypto ETFs are about to be approved en masse.Mania is coming. https://t.co/2BWyFR4kBlAndy (@ayyyeandy):Rumor mill says there will be at least 10 crypto asset ETFs passed sometime in early November.Final stages of their reviewal right now into end of October. Expect major news on this to hit the wire from the SEC. ...

Core Viewpoint - Grayscale has achieved a significant milestone with the SEC's approval of the Grayscale Digital Large Cap Fund (GDLC), which will soon be listed on the NYSE, potentially attracting institutional interest in cryptocurrency investments [1][2]. Group 1: Fund Details - The GDLC fund will include the top five digital assets by market capitalization: Bitcoin, Ethereum, XRP, Solana, and Cardano [1][2]. - Bitcoin constitutes over 72% of the fund's portfolio, followed by Ethereum at over 17%, with XRP, Solana, and Cardano making up 5.62%, 4.03%, and 1% respectively [2]. Group 2: Market Impact - The launch of the GDLC fund on Wall Street is expected to generate strong institutional interest in cryptocurrency [2]. - The approval of the GDLC fund may facilitate the introduction of multi-asset crypto ETFs from other asset managers, as noted by ETF specialist Nate Geraci [3]. Group 3: Regulatory Context - Earlier in July, the SEC had postponed its decision on Grayscale's proposal to convert the GDLC into an exchange-listed ETP, citing the need for further review [4]. - With the introduction of Generic Listing Standards, the process for launching additional crypto ETPs is anticipated to be more efficient [4]. Group 4: Future Initiatives - Grayscale is actively pursuing the establishment of various crypto ETFs, including a recent application to convert its Chainlink Trust into an exchange-traded fund [5].

SEC Clears Path for ‘Waves’ of Crypto ETFs With New Listing Standards► https://t.co/rzsaK0aaY7 https://t.co/rzsaK0aaY7 ...

BREAKING NEWS: SEC has approved generic listings standards, clearing the way for spot crypto ETFs to launch 🔥We are living through crypto history. https://t.co/2LSwIs1oTt ...

Group 1 - A significant number of crypto ETF applications have been submitted to the SEC, including five new filings that cover a range of assets from Avalanche infrastructure to Bonk meme coin [1][2] - The total number of pending crypto ETF applications has exceeded 92, with many facing deadlines in October and November [2] - REX-Osprey's XRP and Dogecoin ETFs are set to launch using the 40 Act structure, which allows for faster market entry [3] Group 2 - Bitcoin ETFs have seen net inflows of $292 million, while Ethereum products experienced outflows of $61.74 million as of September 16 [3] - Analysts believe that infrastructure tokens like Avalanche have the highest chances of SEC approval due to their established market cap and regulatory comfort [5][7] - Memecoins and basis trading products are expected to face more scrutiny from regulators due to concerns over their volatility and liquidity profiles [4][6] Group 3 - The basis trade approach is considered the "first of its kind" and is likely to encounter additional regulatory scrutiny due to its complexity [6] - Bitwise is pursuing institutional-grade exposure to Avalanche, joining other firms like VanEck and Grayscale [5] - The SEC clarified in February that memecoins are not classified as securities, but analysts still view infrastructure coins as more favorable for approval [7]