Crypto Market Digest: Grayscale Pulls Altcoin ETF Applications Amid Institutional Shift
The crypto market saw a mix of institutional progress and ecosystem adjustments as it opened the new week. Bitcoin held above $65,000, while altcoins displayed mixed performance.
Grayscale Investments withdrew ETF registration applications for Cardano (ADA), Hedera (HBAR), and Polkadot (DOT) with the SEC. This move reflects strategic adjustments in product offerings, prioritizing assets with stronger institutional demand and regulatory clarity.
The New York Stock Exchange is advancing its blockchain initiatives with plans to establish an onchain settlement platform for tokenized securities. President Lynn Martin announced this move, which follows NYSE's participation in a DTCC tokenization pilot. The platform aims to bridge traditional finance with decentralized finance through blockchain infrastructure development.