7/9/24: The Big Red Elephant 🇺🇸📜📈

Author

Valko
July 09, 2024

Top News

  1. Republicans unveil draft party platform defending crypto rights

  2. Spot Ethereum ETF applicants file updated S-1’s

  3. VanEck, 21Shares file for Solana ETFs with CBOE

Specs’ Breakdown

1. Republicans unveil party platform defending crypto rights

⌐◪-◪ → The Republican party just published its draft platform for the next legislative term, and it's very pro-crypto.

There are quite literally five bullet points and one of them is dedicated entirely to crypto and AI. The platform’s key points on crypto are:

  • Right to self-custody

  • Right to mine Bitcoin

  • Right to transact freely

  • No CBDCs

  • End crypto crackdown

I cannot stress how big of a deal this is.

It’s the first time an entire party has vocalized its support for crypto rights and freedoms — and sets a new standard for what a pro-tech agenda looks like. The e/acc movement is finally paying off.

Bottom line: Republicans are officially the pro-crypto party.

Come celebrate this historic moment with us in Specs.Chat!

2. Spot Ethereum ETF applicants file updated S-1’s

⌐◪-◪ → All of the spot Ethereum ETF applicants just filed updated S-1’s with the SEC, including minor changes to custody and fee structures. The applicants include:

  • Fidelity

  • VanEck

  • Franklin Templeton

  • 21Shares

  • Grayscale

  • BlackRock

This marks a significant step towards ETF approval, with a potential launch as early as next Monday, July 15th.

The development follows Ethereum breaking $3k for the first time since April 2022 — bullish.

Could this be the catalyst for Ethereum’s next bull run, or is this a “sell the news” sort of event? Let me know what you think in Specs.Chat!

3. VanEck, 21Shares file for Solana ETFs with CBOE

⌐◪-◪ → VanEck and 21Shares just filed their 19b-4 forms for their Solana ETFs with the Chicago Board Options Exchange.

The CBOE confirmed the filing, starting a 240-day window for approval or rejection, with the final deadline set for mid-March 2025.

Props to VanEck and 21Shares for running this process parallel to the spot Ethereum ETF race — sometimes it pays to be agile.

As a non-memecoiner, I still haven’t used Solana, but I’m happy for the SOL maxis and excited for the progress the crypto industry is making on Wall Street.

Any guesses on which crypto Wall Street will target for an ETF after Solana? Let me know in Specs.Chat!

Everything Else

⛓️ Crypto & DeFi

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

🌎 Rest of the World

  • Exchanges return $200M unsold Bitcoin back to German government

  • Australia gets second spot Bitcoin ETF on ASX

  • Nigeria to build ‘Nigerium’ blockchain to boost its ‘data sovereignty’

  • South Korea's largest exchange Upbit announces ENS market

🖼️ NFTs & Metaverse

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