This week one of the largest U.S. cryptocurrency exchanges, Coinbase, completed its initial public offering through a direct listing of its shares on Nasdaq. Separately, according to a press release, last week cryptocurrency platform Exodus opened its blockchain-based SEC-qualified public offering of common stock, with each share of common stock represented by a "Common Stock Token." The company, which offers a multi-asset cryptocurrency wallet, reportedly has received subscriptions for nearly $60 million from more than 4,000 accredited and non-accredited investors.
A well-known financial services company focused on digital assets and cryptocurrencies recently filed a bitcoin exchange traded fund (ETF) application with the Securities and Exchange Commission (SEC), according to a recent report. Another recent report noted that the SEC recently began review of a separate bitcoin ETF application by an ETF sponsor and index developer. The SEC has not yet approved any bitcoin ETFs, although multiple applications are currently pending at the agency.
Binance recently issued a press release announcing that it has launched no-commission, digital tradeable tokens that allow users to buy and trade fractional stocks. The release states that the tokens are backed by a depositary portfolio of underlying securities, and that holders of the tokens qualify for economic returns, including dividends, relating to the underlying securities. A press release notes that the first stock available for use with the tokens is a well-known electric car company pioneer, and Binance also reportedly intends to tokenize Coinbase stock. Prices for the new Binance products will reportedly be settled in Binance USD (BUSD).
For more information, please refer to the following links:
- Coinbase Direct Listing Gets $100B+ Valuation as Share Price Jumps in Nasdaq Debut
- Exodus Shatters Regulated Crypto Public Offering Record
- Galaxy Digital submits Bitcoin ETF application with SEC
- SEC Begins Review of WisdomTree Bitcoin ETF as Active Applications Hit 8
- Binance Launches Zero-Commission, Tradable Stock Tokens
- Binance Allows Users to Trade Tokenized Stock Tokens Starting With Tesla
- Binance Will List the Coinbase Stock Token
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
