Fidelity Adds Staking To Ether ETF Application
USDM Hits Retail Market, Japanese Stablecoin Cross-Chain Transfers Enabled by TOKI
Welcome to Coinfeeds Daily Digest! Today we cover OKX delisting USDT pairs for EU users, and TOKI bringing cross-chain transfers to a Japanese stablecoin via the IBC protocol between chains Ethereum and BNB. Regarding ETFs, new predictions say spot Ethereum ETFs have an 85% approval chance in May, and that these new ETFs would attract up to $45 billion in inflows. Also, Fidelity has updated its Ethereum ETF application by adding a request for staking. Mehen Finance's USDM is to be offered in the retail market as opposed to just institutions, which would make USDM the first Cardano-based fiat-backed stablecoin.
Market Update
News
Fidelity Seeks Staking in Ethereum ETF
Fidelity Investments has updated its application for a spot Ethereum ETF to include staking capabilities. This update follows Ethereum's transition to a Proof of Stake (PoS) mechanism, a pivotal shift from the energy-intensive Proof of Work model previously employed by the network. | Read More
TOKI Enables Cross-Chain Japanese Stablecoin Transfers
TOKI, in collaboration with Progmat, has achieved a milestone in enabling cross-chain transfers of a Japanese stablecoin. This development allows for the seamless movement of digital assets between Ethereum and BNB Chain on public testnets, utilizing the Inter-Blockchain Communication (IBC) protocol. | Read More
USDM Stablecoin Hits Retail Market
Mehen Finance is preparing to offer the USDM stablecoin to the retail market. This move is set to take place as early as next month on the Cardano network, marking a significant step forward for both Mehen and the Cardano ecosystem. Until now, USDM has been exclusively available to institutional users since its launch on March 17. | Read More
Spot Ether ETFs Poised for US Approval
According to My Betting Edge, these pending applications have an 85% chance of getting the green light from the SEC in May. Standard Chartered Bank has projected that Spot Ethereum ETFs could attract up to $45 billion in inflows. This optimistic forecast is based on the assumption that the ETFs would be approved by their initial deadline of May 23, 2024. | Read More
OKX Delists USDT Pairs in Europe
The delisting of USDT trading pairs by OKX for EU and EEA users is not just a simple change in the exchange's offerings but a reflection of the broader regulatory landscape in Europe. With the upcoming Markets in Crypto-Assets (MiCA) regulations, the crypto industry is bracing for a wave of changes aimed at enhancing consumer protection and ensuring financial stability. | Read More