Market Analysis Report (06 Aug 2025)
Main Idea
The SEC clarified that liquid staking does not violate securities law, while former President Trump is preparing an order to penalize banks for dropping conservative and crypto clients, and the Michigan State Pension Fund significantly increased its Bitcoin ETF holdings.
Key Points
1. The SEC stated that liquid staking arrangements do not break securities law, providing clarity for protocols like Lido, Rocket Pool, and Jito.
2. Former President Trump is drafting an executive order to penalize banks that drop conservative and crypto clients, possibly signing it this week.
3. The Michigan State Retirement System tripled its holdings in the ARK 21Shares Bitcoin ETF (ARKB) from 100,000 to 300,000 shares.
4. The pension fund's increased investment in ARKB coincides with Michigan lawmakers advancing related legislative measures.
Description
SEC Says Liquid Staking Doesn’t Break Securities Law | Trump Prepares Order to Penalize Banks for Dropping Conservative, Crypto Clients | Michigan State Pension Fund Triples Bitcoin ETF Holdings
