EFTs Are Coming
Sec official acknowledges multiple new crypto EFTs. Litecoin (LTC), Solana (SOL) XRP seem to be on the way to Wallstreet. Comments for the SEC on these ETFs are open for 21 days. Prior to the new shift in government the SEC refused to entertain and acknowledge these fillings. Since Gary Gensler's departure a surge in crypto EFTs is expected to be filled and get favorable consideration.
This comes at the same time that VanEck, a predominant investment management firm, predicts that SOL could hit $520 by end of 2025. Also, Larry Fink the CEO of BlackRock states he believes the SOL ETF will be approved in February. Reports are surfacing the BlackRock is filling for an SOL ETF as well.
Truth.Fi the new financial arm of Trump's Media and Tech Company company plans to launch a "BTC Plus" ETF. Its not currently clear as to what "plus" means but Eric Trump has been posting about ETH and BTC being good buys on social media.
The SEC has also acknowledged an amendment for Nasdaq's 19b-4 filling. This amendment would allow investors to redeem their shares of iShare Bitcoin EFT for actual BTC instead of cash. This would be a positive shift to get more direct BTC ownership.
Quick Hits
- XRP CEO looks likely to join Trump's advisory council
- Blackrock disclosed it owns 5% of Strategy (aka MicroStrategy) shares. This is up almost 1% from the last quarter.
- Blackrock to launch BTC exchange traded product in Europe according to Bloomberg.
- Utah BTC billed passed in the House.
- Maryland Introduces Strategic Bitcoin Reserve Act.