Coindesk

The Ether (ETH) price surged to $2,601 on July 2, capping a breakout that began after 16 hours of tight consolidation, according to CoinDesk Research's technical analysis model. The move coincided with growing institutional focus on Ethereum’s emerging role as a platform for tokenized financial products, as well as continued momentum in spot ETF inflows.On June 30, Robinhood confirmed via X that it is building “Robinhood Chain” on Arbitrum to “power the future of asset ownership.” While the company did not specify a timeline for launch, its decision to build on Ethereum’s leading Layer-2 solution reinforces the network’s position at the center of tokenized finance. The Ethereum Foundation amplified this narrative in a response that read: “Ethereum is for tokenized...

The U.S. Securities and Exchange Commission's leaders are reviewing the agency's recent approval of a Grayscale effort to convert a fund into an exchange-traded fund (ETF), a letter dated July 1 said. The SEC allowed Grayscale to uplist the Digital Large Cap Fund (GDLC), which holds $755 million in bitcoin BTC, Ethereum ETH, XRP XRP, Solana SOL and Cardano ADA, into an ETF through delegated authority — meaning the SEC's commissioners did not vote to approve the conversion, but rather agency staff gave the sign-off."This letter is to notify you that, pursuant to Rule 431 of the Commission’s Rules of Practice, 17 CFR 201.431, the Commission will review the delegated action," the letter said. "In accordance with Rule 431(e), the...

Global bank JPMorgan’s blockchain arm Kinexys is working with S&P Global Commodity Insights to explore tokenization for managing and issuing carbon credits, the firms said on Wednesday.The project, according to a press release, focuses on testing how tokenized carbon credits can be created and tracked using blockchain infrastructure. These credits, which represent greenhouse gas reductions from projects like reforestation or renewable energy, are often bought by companies aiming to offset their emissions.The firms will focus on how blockchain handles credit lifecycle management, data compatibility and registry access."Our shared aim is to establish standardized infrastructure that enhances information and price transparency, paving the way for financial innovation and increased market liquidity," said Keerthi Moudgal, head of product at Kinexys Digital Assets.The...

BlackRock’s iShares Bitcoin Trust (IBIT) is now generating more revenue than one of the asset manager’s most iconic products, the iShares Core S&P 500 ETF (IVV), according to Bloomberg data.Despite having just $52 billion in AUM — a fraction of IVV’s $624 billion in total assets — IBIT’s higher fee structure has turned it into a bigger moneymaker for the world’s largest asset manager. Bloomberg estimates that IBIT brings in roughly $187.2 million annually through its 0.25% management fee.By comparison, IVV, which tracks the S&P 500 and has been a staple in retail and institutional portfolios for years, charges just 0.03%. That means it generates around $187.1 million in annual fees, despite managing roughly nine times more in assets than...

Bitcoin BTC is bouncing hard towards $110,000 on Wednesday, shrugging off Tuesday's brief risk-off wave that dragged the price below $106,000.Recently, the largest crypto traded at its strongest price since June 11, around $109,500, up 3.5% over the past 24 hours.The action came as Donald Trump announced a trade deal with Vietnam, helping risk assets across the board. The Nasdaq at midday is ahead 0.8%.Under the deal, the U.S. will impose a 20% tariff on goods from Vietnam and a 40% levy on transshipped goods—products routed through Vietnam on their way to the U.S. U.S. exports, in turn, will face no tariffs when entering the Vietnamese market.Boosting crypto sentiment specifically could be the debut of the REX-Osprey Solana + Staking...