Crypto Biz: Digital gold rush intensifies as Tether Gold surges, institutions double down on BTC
Main Idea
The article highlights the growing interest in digital assets like Tether Gold and Bitcoin, with institutional investments increasing and regulatory approvals facilitating crypto investment products.
Key Points
1. Tether Gold (XAUt) has seen its market cap surpass $800 million, backed by 7.66 tons of gold, reflecting strong demand for tokenized commodities.
2. Twenty One Capital expanded its Bitcoin holdings to 43,500 BTC, valued at over $5.1 billion, with support from Tether.
3. Avalanche secured a $250 million real-world asset (RWA) infusion, targeting US Treasurys and collateralized loan obligations (CLOs), signaling growth in tokenized finance.
4. The SEC approved in-kind redemptions for crypto ETFs, allowing direct exchanges of ETF shares for underlying crypto assets, which could reduce costs and improve efficiency.
5. BlackRock’s iShares Ethereum ETF surpassed $10 billion in assets, indicating increasing momentum for Ethereum-based investment products.
Description
As physical gold hits record highs, Tether Gold’s (XAUt) market cap surges past $800 million, while Bitcoin treasury firm Twenty One Capital expands holdings.
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