ARK Investment Management is confident that it has secured frontrunner status for approval of a spot-Bitcoin ETF, amidst speculations that BlackRock Inc. may be leading the race. According to reports, BlackRock’s distinction lies in its unique exchange surveillance-sharing agreement, aimed at preventing market manipulation. However, other applicants can adapt their filings with similar agreements at minimal cost, says ARK Investment Management analyst Yassine Elmandjra.
Jeremy Allaire, co-founder and CEO of USDC stablecoin issuer Circle, believes that Bitcoin exchange-traded funds (ETFs) are likely to be approved as regulatory concerns are addressed, and progress is being made with more mature market structures. During an interview with Bloomberg, Allaire mentioned well-regulated custody infrastructures, mature spot markets, and effective market surveillance as factors supporting potential approval.
In blockchain news, RippleX announced on June 26 that the Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger is now accessible on a new version (v2) of Devnet for testing and development. The EVM sidechain employs a Proof of Authority (PoA) consensus mechanism. Developers are encouraged to explore the new functionality of Devnet v2 and the bridge using all supported token types.
US-based online trading platform Robinhood has announced plans to eliminate 7% of its full-time workforce, or approximately 150 employees, according to the Wall Street Journal. Chief Financial Officer Jason Warnick cited adjustments to volume and team structures as the primary reasons. A spokesperson added that Robinhood is committed to “ensuring operational excellence” in response to changes in volume, workload, and organizational design.
The Swiss-based Tangle Ecosystem Association (TEA), a supporter of builders utilizing IOTA’s technology, announced SwissOne Capital AG’s first fund dedicated to Shimmer and IOTA ecosystem projects. The SwissOne IOTA Shimmer Opportunities Fund (SISO) will invest in leading projects and essential infrastructure within both ecosystems. The fund will be registered as a Luxembourg-based, close-ended limited partnership, with a minimum starting investment of €10,000 (or the equivalent in MIOTA/SMR).
Mythical Games has raised $37 million in a Series C1 funding round backed by digital asset manager Scytale Digital, ARK Invest, Animoca Brands, PROOF, and several others. An additional $20-30 million is expected to be raised later this year, in collaboration with strategic partners and other investors.
Pixion Games raised $5.5 million in new funding during its seed round, supported by Avalanche Foundation’s Blizzard Fund, Shima Capital, Eldridge, Merit Circle, ReadyPlayerDAO, VGC, Zee Prime, and more. The funds will go toward building out the gaming studio’s flagship game, Fableborne.
Lastly, institutional-grade staking solutions provider RockX has appointed Paul Mischenko as Head of Americas, as part of its expansion efforts in the region. Mischenko, a veteran of financial markets, will be responsible for scaling the business, ensuring governance and control, and managing treasury risk.
Source: Cryptonews
