Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Crypto News

SEC to Release Innovation Exemption for Tokenized Securities This Week

The US Securities and Exchange Commission (SEC) is expected to release its innovation exemption framework for tokenized securities this week. This regulatory sandbox will facilitate the trading of tokenized stocks, bonds, and treasuries, while reducing regulatory burdens.

The US SEC is preparing to unveil its landmark innovation exemption framework for tokenized stocks as early as this week, Bloomberg reported. The move represents a major regulatory shift that could accelerate the adoption of blockchain technology into traditional finance (tradFi).

Minnesota Gov. Signs Bill To Allow Digital Asset Custody

Minnesota-based banks and credit unions will soon be allowed to provide crypto custody services. This comes after Governor Tim Walz signed House File 3709 into law on Friday, which will play an important role in the field of crypto regulation.

For context, this legislation will allow financial institutions statewide to start providing virtual-currency custody services Aug. 1. The bill modernizes Minnesota banking law to allow banks and credit unions to retain digital assets in a customers account without being the custodian of the assets.

Tom Lee’s Bitmine Bags Another $154M in Ethereum

Tom Lee’s Bitmine has continued its aggressive bets on Ethereum, as evidenced by the recent accumulation of 71,672 ETH, worth $153.66 million. This hefty purchase highlights the sustained confidence of the Ethereum treasury firm in the second-largest crypto by market cap, despite the recent volatility.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Monday was $648.64 million. The total net asset value of Bitcoin spot ETFs is $100.49 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.52%.

The Bitcoin spot ETF with the highest net outflow on May 18 was iShares Bitcoin Trust with a net outflow of $448.36 million, according to SoSoValue.