Key Insights
- Crypto news: Circle mints 500 million USDC adding to the growing pile of minted stablecoins in the last 2 months.
- 21Shares launches new ETPs listed on Nasdaq Stockholm, expanding access to ADA, DOT, LINK and AAVE.
- Strike aims for broader share of the institutional dominance in Bitcoin investment with $60 billion injection.
While the crypto market has been attempting to find a directional footing, some interesting crypto news have popped up today. Here’s a look at some of the key headlines of the day.
Circle has reportedly minted 500 million USDC, adding to the growing stablecoin count. The stablecoin issuer previously minted 750 million USDC coins earlier in the week.
Both Circle and Tether have reportedly minted $15 billion worth of stablecoins in the last 2 months as the market experienced downside.
Analysts consider stablecoin minting as positive crypto news especially during a market downturn. This is because rising liquidity highlights the market’s preparedness to buy back once market conditions improve.
Stablecoin growth maintained an overall uptrend, in line with explosive demand earlier in the year. Coinmarketcap data revealed that stablecoins were up by almost 60% in the last 12 months.
Meanwhile, World App is reportedly conducting virtual bank account pilot tests in the U.S. It reportedly aims to facilitate direct salary deposits into the virtual accounts through USDC.
21Shares Expands Crypto Access in Sweden Through Newly Launched ETPs
21Shares made crypto news headlines today courtesy of its efforts towards crypto expansion. The company has reportedly rolled out 16 new exchange traded products (ETPs) through Sweden’s leading stock exchange, the Nasdaq Stockholm.
The report revealed that the newly launched ETPs will offer expanded access to some top cryptocurrencies such as ADA, DOT, LINK and AAVE.
The new listing highlighted yet another example of widening crypto integration with traditional markets.
Moreover, these new ETPs are expected to unlock deeper access to the underlying cryptocurrencies in the target market.
21Shares’ new crypto ETPs will help gauge the level of institutional interest in the market. This is because they provide a legal and compliance loopholes for institutions to secure exposure to the cryptocurrencies.
This expansion reflected 21Shares’ efforts towards expanding access to crypto products across different markets outside the U.S. This revelation also occurred just hours after the company launched its TSOL Solana ETF.
Crypto News: Strike CEO Reveals Plans for Major Bitcoin Purchase
In further crypto news, the Bitcoin treasuries space continues to experience heavy competition with more companies rushing to build up their holdings.
Strike is among the companies adopting an aggressive strategy to close the gap with the current cream of the crop which consists the likes of Strategy and BlackRock.
Strike CEO Jack Miller stated in a recent interview that his company is the third largest corporate holder of Bitcoin. He also noted that the company intends to aggressively buy more BTC once it secures approval.
Miller revealed that Strike plans to acquire about $60 billion worth of Bitcoin. Furthermore, he disclosed that the company will deploy a hybrid approach inspired by companies like Coinbase and Strategy, without necessarily tapping into leverage.
Although Strike is gunning for the top spot in the corporate Bitcoin treasury segment through a massive investment, Miller did not go into details regarding the timelines.
Nevertheless, his statement highlights the prevailing optimism around Bitcoin from crypto-focused institutions, especially those building up BTC treasuries.