Grayscale Files for Spinoff Mini-Trust, TradFi Institutions Complete Tokenization Pilot on Canton Network

Market Update The highly anticipated February CPI report was released this morning, showing slightly higher than expected readings. Core CPI came in at 3.8% YoY vs. 3.7% expected and 0.4% MoM vs. 0.3% expected. Over 60% of the total monthly increase can be attributed to shelter and energy prices. Investors were prepared for worse, as the odds of a June rate cut increased slightly following the data release, helping to spur a bounce back in equity indices, with the SPY and QQQ gaining approximately 1%. Crypto markets are declining today, with total market capitalization falling by 3.19%. $BTC has declined 3.36% to $69.6k and $ETH has decreased 4.03% to $3.9k. Despite the declines, there are still some altcoins outperforming including $INJ, $AVAX, and $TIA, which have gained 12.86%, 10.06%, and 4.14%, respectively. MapleStory, a large web2 gaming studio, announced yesterday their plans to launch an Avalanche Subnet to bring their creations to the Web3 world, helping $AVAX reach $53, its highest level since May 2022.Grayscale has filed an S-1 statement to register its new mini version of its Grayscale Bitcoin Trust. The mini trust would be a spinoff of GBTC, meaning that a portion of GBTC Bitcoin backing would be used to seed the Grayscale Bitcoin Mini Trust. The spinoff and fee