Welcome to the CoinSmart crypto recap. Let’s look at the hottest stories that came up this past week. Here is an overview:
- BlackRock announces spot BTC ETF.
- Mastercard files new crypto trademark
- Deutsche Bank applies for a digital asset license.
As you can see, several institutions made major crypto plays this week. Let’s take a deeper look.
BlackRock announces spot BTC ETF
BlackRock, the world’s largest asset manager, has filed for a Bitcoin Spot ETF with the US Securities and Exchange Commission (SEC). This marks a significant step towards the company’s involvement in the digital asset industry. Despite previous failed attempts by other companies, BlackRock has a remarkable success rate with the SEC – with 575 ETF applications approved and only one rejected. The SEC has rejected numerous Spot ETF applications, citing concerns about market manipulation and fraud prevention. Following BlackRock’s application, the BTC price has jumped and already crossed $29,500 (as of writing).
Mastercard files new crypto trademark
MasterCard has filed a trademark application to extend its coverage to cryptocurrency and blockchain tools. The application aims to facilitate seamless crypto transactions and includes three international classes for categorizing goods and services. The company also plans to introduce API software for verifying blockchain interactions during trading activities. This filing is part of MasterCard’s efforts to re-engage with the cryptocurrency sector after previously pausing its crypto initiatives. It has been expanding collaborations with crypto platforms and acquiring crypto analytics companies, demonstrating its commitment to supporting crypto transactions and embracing cryptocurrencies.
Deutsche Bank applies for a digital asset license
Deutsche Bank has applied for regulatory permission to operate a custody service for digital assets, including cryptocurrencies. The bank aims to expand its fee income and increase its offerings linked to digital assets. The move aligns with the efforts of its investment arm, DWS Group, to capitalize on the growing market of digital assets. Deutsche Bank’s corporate bank division had previously indicated its intentions to introduce digital asset custody, with David Lynne now leading the division and spearheading the bank’s foray into this space.
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