Hong Kong to Explore Tokenized Stocks, Chainlink CCIP Goes Live on Base

Sep 27, 2023
Market Update U.S. equities are sliding for the fifth day out of the last six trading sessions. The SPY and QQQ are both down about half a percent after paring early session gains. $BTC (+0.07%) is roughly flat despite the SEC delaying Ark Invest and Global X’s spot Bitcoin ETF applications well in advance of their deadlines. The decision to delay the applications early has likely lowered the chances of seeing an approval before the year ends. With that said, Valkyrie’s Bitcoin & Ether Strategy ETF (futures-based) is set to be approved next week barring any SEC action, and would mark the first ETF with any $ETH (+0.32%) exposure. That would set the stage for pure Ether futures ETFs to be approved in the following weeks.Hong Kong regulators have stated they plan to issue guidance on the tokenization of stocks in the near future. Christina Choi, an official at the Hong Kong Securities and Futures Commission (SFC), said in a speech on Tuesday that the SFC is working on detailed tokenization guidance for SFC-authorized products. Choi thinks that as a first step, activities pertaining to primary dealing would be appropriate for virtual asset trading platforms (VATP) and acknowledged the additional risks and surveillance that would come with secondary trading on VATPs. Tokenizin

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you haven't read

Bitcoin experienced yet another weekend rally, breaking above $42,000 for the first time since the Terra unwind in April 2022. BTC 2.28%  has since retraced slightly, stabilizing around the $41.5k mark. A major beneficiary of the rally was STX 7.12% , the Bitcoin layer 2 token we pinpointed as a buy in our recent strategy note. The token has rallied impressively, marking an approximate 25% increase today and a 50% bump since the...

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In