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Clarity Act stumbles, Strategy trims again, and the fight nobody saw behind Mastercard’s $1.8 billion BVNK buy
The cryptocurrency industry is undergoing a significant stress test, with events like a major Bitcoin outflow due to a Coldcard wallet attack, the failure of the Digital Asset Market Clarity Act to pass the Senate, and multiple corporate treasury sales of Bitcoin. Despite these challenges, institutional interest remains, with Fidelity proposing staking rewards for its Ether ETF and Goldman Sachs acquiring NEOS. Meanwhile, Bybit has sued North Korea over a $1.5 billion hack, and over 100 crypto projects have shut down this year, indicating a market shakeout.
Cardano earned its ETF fast lane on Aug. 9 — its only sponsor had quit on Aug. 7
Grayscale withdrew its Cardano Trust ETF registration just days before Cardano met the SEC's six-month CME futures threshold, a requirement that would have expedited the ETF's review process. This withdrawal leaves a gap in the market for a dedicated spot Cardano ETF, with existing futures-based or basket ETFs holding minimal assets. The article analyzes whether another sponsor will step in or if this signifies a lack of institutional interest in Cardano.
Grayscale Seeks SEC Approval for America’s First Worldcoin ETF
Grayscale has submitted an S-1 registration statement to the SEC for the first US exchange-traded fund backed by Worldcoin's WLD token, aiming to trade on Nasdaq under the ticker GWLD. The proposed passive fund would directly hold WLD and track its price via the CoinDesk Worldcoin Benchmark Rate, minus expenses. While details like management fees are still to be determined, the filing marks a significant step in Grayscale's expansion into single-asset cryptocurrency funds.
