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Standard Chartered Set to Approve Spot Ether ETF This Week

Standard Chartered is poised to approve a spot Ether (ETH) exchange-traded fund (ETF) this week, marking a significant development in the cryptocurrency investment landscape. This approval is expected to pave the way for greater institutional investment in Ethereum, the second-largest cryptocurrency by market capitalization.

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Standard Chartered is poised to approve a spot Ether (ETH) exchange-traded fund (ETF) this week, marking a significant development in the cryptocurrency investment landscape. This approval is expected to pave the way for greater institutional investment in Ethereum, the second-largest cryptocurrency by market capitalization.

The forthcoming approval of the spot Ether ETF signifies a notable milestone for Standard Chartered, reflecting the bank’s progressive stance towards integrating cryptocurrency products into traditional financial markets. The introduction of a spot Ether ETF will allow investors to gain direct exposure to Ethereum through a regulated and familiar investment vehicle, without the need to hold the underlying asset.

Market analysts suggest that this move could significantly boost the adoption of Ethereum among institutional investors. “The approval of a spot Ether ETF by a major financial institution like Standard Chartered is a strong indicator of the growing acceptance of digital assets in mainstream finance,” said a prominent cryptocurrency market analyst.

The anticipated ETF will enable investors to trade Ether on major stock exchanges, offering a convenient and secure way to participate in the cryptocurrency market. This development follows the recent approval of Ethereum futures ETFs, which have already started to gain traction among investors.

Standard Chartered’s decision aligns with the broader trend of increasing regulatory acceptance of cryptocurrency products. As more financial institutions explore crypto ETFs, the market is expected to witness enhanced liquidity and stability, benefiting both retail and institutional investors.

The approval of the spot Ether ETF is also likely to have a positive impact on the price of Ethereum. Historically, the introduction of ETFs has been associated with increased buying pressure and price appreciation for the underlying assets.

In summary, Standard Chartered is set to approve a spot Ether ETF this week, marking a significant advancement in the integration of cryptocurrencies into traditional financial markets. This move is expected to attract substantial institutional investment, further legitimizing Ethereum and potentially driving its market value higher.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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