Crypto Regulation Gains Momentum in the US Senate
Tim Scott, Chairman of the US Senate Banking Committee, announced that they aim to vote on the crypto market structure bill next month. Senators will also question CFTC nominee Michael Selig on his crypto regulation plans. If the CLARITY Act passes, the CFTC will take on a much more active role in regulating the crypto market. These developments indicate increasing pressure in Washington to clarify the regulatory framework for crypto.
Trump to Announce New Fed Chair Before Christmas
According to market reports, Trump will name the next Fed Chair before Christmas. Candidates include Fed Governors Waller and Bowman, as well as Warsh, Hassett, and BlackRock executive Reed.
Trump Tariffs May Be Permanent
Former Commerce Secretary Raimondo said tariffs imposed during the Trump era are likely to remain in place after his term due to political risks. The impact of artificial intelligence and outsourcing on workers increases the political importance of tariffs. Goldman Sachs President Waldron also noted that labor conditions will be more complex in 2025. This situation could make it difficult to relax trade policies.
Abu Dhabi Funds Increase Bitcoin ETF Purchases
ADIC tripled BlackRock’s IBIT ETF position in the third quarter, increasing it to approximately 8 million shares. The position’s quarter-end value was $518 million. The fund stated that it views Bitcoin as a long-term store of value similar to gold. Mubadala maintained its previous quarter’s 8.7 million IBIT position unchanged.
The Last 5% of Bitcoin Supply Will Take Over 100 Years
Due to Bitcoin’s halving mechanism, mining the final 5% of its supply will take over 100 years. As miner rewards decrease with each halving, the production process gradually slows down. This situation reinforces expectations of long-term supply scarcity for Bitcoin. Market analysts note that this structure makes BTC more deflationary.
Large BTC and ETH Transfer from BlackRock
According to on-chain data, BlackRock deposited 6,300 BTC ($576 million) and 64,706 ETH ($200 million) into a centralized exchange. This transfer is considered part of the routine rebalancing of ETF funds. It is particularly emphasized that the transfers do not imply a sale. The market remains sensitive to such movements.
Ondo Receives Approval for Tokenized Securities in the EU
Ondo Global Markets has received approval from the Liechtenstein FMA to offer tokenized US stocks and ETFs in 30 European countries. This approval provides access to approximately 500 million individual investors. It is seen as an important step toward the widespread adoption of tokenized securities across the European Economic Area. The company is bringing US financial products to Europe via blockchain.
Fidelity Fund Invests $7.42 Million in Metaplanet
Fidelity’s FIGRX fund invested a total of $7.42 million by acquiring 3 million Metaplanet shares in the third quarter. Metaplanet is known as a Japan-based Bitcoin treasury company. This purchase by the fund indicates that institutional interest is shifting towards BTC-focused companies. Metaplanet shares have been volatile throughout the year.
Hyperliquid Launches HIP-3 Model, Reducing Fees by 90%
Hyperliquid’s new HIP-3 Growth Mode model reduces order book fees by more than 90% for new markets. This system aims to increase liquidity by facilitating the opening of new markets without permission. Distributors must comply with specific fee rates and asset conditions. The model aims to increase competitiveness with centralized exchanges.
Taurus and Kaiko Digital Asset Infrastructure Partnership
Switzerland-based Taurus has partnered with Kaiko to provide banks with regulated market data. Taurus offers digital asset infrastructure to giants such as Deutsche Bank and State Street. Kaiko provides pricing, liquidity, and DeFi data to institutions. The partnership is seen as an integration that will accelerate banks’ entry into crypto.
The new CANTN ETP gives investors access to the Canton Network token. Canton Network is a blockchain ecosystem that provides privacy and interoperability for institutional finance. The ecosystem is supported by institutions such as J.P. Morgan, Goldman Sachs, and Nasdaq. The product is traded on Euronext Amsterdam and Paris.
UK Inflation Slowed in October
The UK’s annual CPI fell to 3.6%, in line with expectations. Core inflation fell slightly to 3.4% compared to the previous month. The data strengthens the likelihood of the Bank of England cutting interest rates in December. The loss of momentum in inflation gives policymakers room to maneuver.
21Shares is launching its spot Solana ETF, ticker TSOL, today with $100 million in initial AUM. The fund’s fee is set at 21 basis points. The ETF arrives amid a strong entry trend in the market and has attracted nearly $2 billion. This demonstrates institutional demand for SOL despite market conditions.
Texas Representative Brandon Gill Increases Bitcoin Investment
US Congressman Brandon Gill has increased his Bitcoin and Bitcoin ETF positions in his portfolio to approximately $300,000. Gill is known for his long-term pro-BTC stance. This increase is noteworthy during a period of growing interest in crypto among politicians. As crypto regulations intensify in the US, political interest continues to grow.
