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Crypto Daily 2025-02-16 13:16:57

Crypto Weekly Roundup: CZ's Dog Sparks Memecoin Frenzy, DOGE ETFs On The Way, & More

Institutional interest in Bitcoin continues to grow, with Abu Dhabi’s Mubadala Investment holding $436 million in Bitcoin ETFs, while Cboe BZX seeks SEC approval to integrate staking into the 21Shares Ethereum ETF. On the other hand, CZ’s dog’s name has sparked a memecoin frenzy, and Ripple has expanded its blockchain payments to Portugal via Unicâmbio. Meanwhile, regulatory developments include the SEC reviewing Grayscale’s DOGE and XRP ETF proposals, New York proposing a crypto task force, and Hong Kong allowing Bitcoin and Ethereum in its residency investment scheme. Keep reading to find out more. Bitcoin In another sign of growing institutional interest in Bitcoin, Mubadala Investment, one of Abu Dhabi’s sovereign wealth funds, has disclosed it holds $436 million in Bitcoin ETF holdings, according to an SEC report. Ethereum Cboe BZX Exchange has submitted a rule change proposal to the SEC to incorporate staking into the 21Shares Core Ethereum (ETH) ETF. If approved, the 21Shares Core Ethereum ETF will allocate a portion of its Ethereum holdings for staking, allowing investors to earn staking rewards. Altcoins Changpeng “CZ” Zhao, the founder and former CEO of Binance, ignited a memecoin craze when he revealed his dog’s name— Broccoli , leading to a rapid proliferation of Broccoli-themed memecoins. A new blockchain platform that integrates artificial intelligence and blockchain - Ozak AI - is gaining popularity as a possible game changer in the crypto market. Business U.S.-based crypto custodian BitGo is considering an initial public offering (IPO) as early as the second half of 2025. The Palo Alto-based firm is currently in discussions with potential advisers regarding the listing. Ripple has partnered with Portuguese currency exchange provider Unicâmbio to introduce its blockchain-powered payments solution in Portugal, enabling faster and more cost-effective cross-border transactions with Brazil. Regulation The SEC has officially acknowledged Grayscale's proposals to convert its Dogecoin and XRP trusts into exchange-traded funds and is now seeking public comments on the potential approval of these spot ETFs. New York State Senator James Sanders Jr. has introduced a bill aimed at establishing a cryptocurrency task force to evaluate the impact of digital assets within the state. The proposed bill seeks to establish a cryptocurrency task force that will assess the industry's impact on the state's economy, regulations, and energy consumption, with a final report due by December 2027. Hong Kong has officially incorporated Bitcoin and Ethereum into its Capital Investment Entrant Scheme (CIES), allowing high-net-worth individuals to use these cryptocurrencies to demonstrate their wealth for residency applications. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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