Connect with us

Uncategorized

BlackRock’s BUIDL, Superstate and Centrifuge Win Spark’s $1B Tokenized Asset Windfall

Published

on

Tokenized Treasury products of BlackRock-Securitize, Superstate and Centrifuge are poised to receive allocations from $1 billion investment plan initiated by Sky, formerly MakerDAO, an initiative designed to accelerate the adoption of real-world asset (RWA) tokenization on Sky-adjacent decentralized finance (DeFi) lending platform Spark.

BUIDL, issued by BlackRock and Securitize and backed by U.S. Treasury bills and repurchase agreements, is set to receive $500 million allocation. Superstate’s USTB will get a $300 million. Centrifuge’s JTRSY, a T-bill fund in partnership with asset managers Anemoy and Janus Henderson, set to receive $200 million.

The selection process saw 39 applicants evaluated by advisory firm Steakhouse Financial, a key player in Spark’s ecosystem specializing in RWAs. Winners were chosen based on criteria including liquidity and capital efficiency. The final allocations will be market-driven and capped at $1 billion, Spark said in a press release.

Pending governance approval, the selected tokenized assets could be used as collateral for Sky’s native stablecoin USDS and its yield-bearing counterpart, sUSDS.

The protocol’s move is part of a larger trend of blockchain-based protocols integrating tokenized versions of traditional financial assets, or real-world assets, like bonds, funds and credit. In 2024, Sky announced plans to invest $1 billion in tokenized U.S. Treasury bills, attracting interest from a wide range of issuers.

Read more: MakerDAO’s $1B Tokenized Treasury Investment Plan Draws Interest from BlackRock’s BUIDL, Ondo, Superstate

The allocation will also lend a significant boost for the already fast-growing tokenized U.S. Treasuries market, which currently stands at $4.6 billion, according to rwa.xyz data.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Continue Reading
Click to comment

Leave a Reply

Ваш адрес email не будет опубликован. Обязательные поля помечены *

Uncategorized

Multicoin’s Samani Explains Why SOL ETF Could Trounce ETH’s

Published

on

By

Solana doesn’t yet have an exchange-traded fund, but one of the asset’s biggest backers is betting the Wall Street-friendly vehicle could come in 2025 — and believes it’s well-positioned to trounce Ethereum’s various similar products.

Multicoin Capital’s Kyle Samani — a major investor in SOL and countless subordinate protocols — has been publicly pressing the Securities and Exchange Commission (SEC) to look favorably upon a SOL ETF. His bullish pronouncements therefore might come as little surprise.

But onstage Tuesday at Blockworks’ Digital Asset Summit in New York City, Samani explained his view why Solana is better placed to appeal to traditional investors than Ethereum did. It’s all about the money: the fees being generated on-chain, compared to the value of the asset’s totality.

«A lot of the reason why the ETH ETF didn’t have a super strong reception was a lot of investors looked at ETH and said ‘show me the fees,’ Samani said.

By his telling, they didn’t find much proof to justify investing at its high prices.

Stock traders often look at a company’s price to earnings ratio in deciding whether it’s over or undervalued; in other words, when to invest. Crypto doesn’t have such a clean metric, but blockchains still have revenue and tokens that can be mushed together for similar effect.

Samani believes Solana’s theoretical P/E ratio is much healthier from an investing standpoint than Ethereum’s. His onstage math placed Solana as trading at 30 to 50 times its P/E whereas Ethereum is trading closer to 1,000 times.

Solana’s P/E ratio is «much more in line with high-growth tech stocks,» Samani said.

If the logic plays out then traditional investors might be expected to believe Solana has more upside than Ethereum, and invest accordingly.

Continue Reading

Uncategorized

Crypto Regulatory Clarity Top Catalyst for Industry Growth: Coinbase & EYP Survey

Published

on

By

Crypto market regulatory clarity was cited as the top catalyst for growth in the digital asset industry, according to a survey by crypto exchange Coinbase (COIN) and consulting firm EY-Parthenon (EYP).

Coinbase and EY Parthenon surveyed 352 institutional investors between Jan. 13 and Jan. 24 this year.

86% of those surveyed said they had exposure to digital assets or planned to make allocations in 2025, and 84% said they had increased allocations to crypto and crypto-related products in 2024.

59% of respondents said they planned to allocate more than 5% of their assets under management (AUM) to cryptocurrencies in 2025.

An improving regulatory backdrop under Donald Trump’s new administration is viewed as a large tailwind for the digital asset industry. The President has promised to make the U.S. the «crypto capital of the world

Altcoins are also becoming increasingly popular amongst institutional investors, according to the survey. 73% of respondents said they held tokens other than bitcoin (BTC) and ether (ETH), led by hedge funds at 80%.

About half of those surveyed said they leverage stablecoins, with yield generation, transactions, and foreign exchange cited as the main use cases.

60% of investors said they preferred to gain exposure to crypto via registered vehicles such as exchange-traded products (ETPs).

The survey focused on decision makers in the U.S. and Europe, with some participation from investors worldwide.

Read more: U.S. Crypto Investors Are Still Piling Into Memecoins Despite the Huge Risks: Kraken

Continue Reading

Uncategorized

21Shares Polkadot ETF Plan Progresses With Nasdaq Filing for Listing Approval

Published

on

By

Nasdaq officially asked the U.S. Securities and Exchange Commission (SEC) to allow Swiss asset manager 21Shares list and trade shares of a polkadot (DOT) exchange-traded fund (ETF).

The exchange submitted a 19b-4 filing to the SEC, asking for permission to list the ETF if it is approved by the regulator.

The proposed fund would track the spot price of DOT, the native cryptocurrency of the Polkadot network. The filing follows an amended S-1 form submitted by 21Shares earlier this year, marking another step in the firm’s push to bring more crypto investment products to the market.

21Shares is also seeking regulatory approval for funds linked to XRP and solana’s SOL. The company recently announced it’s set to liquidate two actively managed crypto ETFs amid the market downturn.

Grayscale Investments, a crypto asset-management company, has also filed with the SEC to launch a Polkadot ETF, signaling broader interest in the asset.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.