Core Viewpoint - BlackRock is in discussions with the U.S. Securities and Exchange Commission (SEC) regarding the tokenization of iShares ETFs, with potential developments expected within 90 days to 12 months, with a maximum timeframe of 12 months [1] Group 1 - BlackRock's CFO Martin Small indicated that progress on the tokenization discussions could emerge within a timeframe of 90 days to 12 months [1] - Bitwise's CIO Matt Hougan believes that this development could serve as a potential narrative to help the market emerge from a bear phase, positively impacting Layer 1 (L1) and decentralized finance (DeFi) sectors [1]

Group 1 - Majority of economists expect the Federal Reserve to cut interest rates by 25 basis points in September, with a total of three cuts anticipated for the year due to a weakening labor market overshadowing inflation risks [1] - Fidelity Solana ETF, Canary HBAR ETF, and Canary XRP ETF have been listed on the DTCC website as part of the standard process for launching new ETFs, though this does not indicate regulatory approval [1] - BlackRock is exploring the tokenization of ETFs, aiming to bring real-world assets onto blockchain platforms, having previously launched a $2 billion tokenized money market fund and participated in tokenization trading experiments [1] Group 2 - Ethena Labs has withdrawn from the bidding for the issuance of the Hyperliquid stablecoin USDH, citing community concerns regarding its identity and product focus, while continuing to develop other products [2] - UK industry associations have called for the inclusion of blockchain cooperation in the upcoming UK-US Tech Bridge agreement, emphasizing the strategic importance of stablecoins and tokenization for both economies [2]