Welcome to Crypto Insider, your go-to source for the latest news, trends, and market insights from the world of digital assets. As the crypto landscape evolves at lightning speed, we’re here to keep you informed with real-time updates, in-depth analysis, and expert perspectives. Let’s dive into today’s highlights in the fast-paced world of cryptocurrency.
Fidelity Adds Spot Solana ETF to Its Crypto Offerings
Fidelity Investments is aiming to launch an exchange-traded fund (ETF) that tracks the price of SOL, the native cryptocurrency of the Solana blockchain platform, according to a 19b-4 form filed by Cboe Exchange with the Securities and Exchange Commission (SEC).
However, the company has yet to file an S-1 registration, which the SEC must approve before the fund can be listed on a public exchange.
“A significant portion of our customers are interested in and own digital assets,” a Fidelity spokesperson told etf.com. “Fidelity is dedicated to offering customers a range of solutions, along with education and support, to help them leverage products that meet their financial goals and needs.”
Kadena Executive Says Bitcoin Mining is the Next Major Energy Industry
Bitcoin miners won’t merely mine Bitcoin — they will transform into full-scale energy companies. That’s the vision, according to Evan Owens, VP of Business Development at Kadena.
“Today, Bitcoin miners are focused on mining Bitcoin, but in 10 years, they’ll be energy companies, with Bitcoin mining becoming just a small part of the equation,” Owens shared with TheStreet Roundtable’s Jackson Hinkle. He argues that critics have misunderstood the future of mining, believing that the industry will ultimately play a key role in revitalizing America’s energy infrastructure and providing power to developing nations.
U.S. House Stablecoin Bill Set to Be Released, Says Lawmaker
A bill to regulate stablecoins is expected to be ready for debate in the U.S. House of Representatives on Wednesday, according to a key lawmaker behind the legislation. This move sets the stage for the House to potentially align with a similar effort in the Senate.
Rep. Bryan Steil, the Republican leading the crypto subcommittee within the House Financial Services Committee, stated at a Wednesday event in Washington that the bill would be released before the day ends. Meanwhile, the Senate has already advanced its version of stablecoin oversight legislation through the Senate Banking Committee.
GameStop to Secure $1.3 Billion Loan for Bitcoin Acquisition
GameStop Corp. is looking to sell $1.3 billion in convertible bonds with no coupon payments to fund Bitcoin acquisitions, adopting a strategy championed by cryptocurrency advocate Michael Saylor.
The video-game retailer saw a boost after announcing on Tuesday that its board had approved a plan to add Bitcoin to its treasury reserve. This was followed by a Wednesday filing revealing the planned bond sale, which will be used for general purposes, including Bitcoin purchases.
Based in Grapevine, Texas, GameStop is marketing the notes with a conversion premium of 35% to 40%, according to sources familiar with the deal, who requested anonymity due to the private nature of the information. The convertible notes, maturing in 2030, will partly fund Bitcoin acquisitions, the filing confirmed.
Trump’s SEC Pick Promises “Rational” Approach to Crypto Regulations
Paul Atkins, President Donald Trump’s nominee to lead the U.S. Securities and Exchange Commission, vowed on Wednesday that under his leadership, regulations would support the crypto sector and prevent politics from “stifling” capital formation, according to prepared testimony released by the Senate.
“One of my top priorities as chairman will be to collaborate with my fellow Commissioners and Congress to establish a solid regulatory framework for digital assets through a rational, coherent, and principled approach,” Atkins stated in his written remarks.
Atkins is scheduled to appear at a Senate confirmation hearing on Thursday.
