Cryptocurrency Daily Thefoxposts.com

Crypto asset manager Grayscale has received the greenlight from the US Securities and Exchange Commission (SEC) to convert its Digital Large-Cap Fund into an ETF (exchange-traded fund). The fund comprises the 5 largest cryptos by market cap featured in the CoinDesk Five Index. This includes market leaders Bitcoin (BTC), Ethereum (ETH), as well as altcoins Solana (SOL), Ripple (XRP), Cardano (ADA). The SEC approved the conversion a day before the deadline for the decision. In the past, the regulator has rejected Grayscale’s applications at the last minute. Grayscale Fund Conversion Expected Given Heavy BTC And ETH Weighting Around 80.2% of the converted fund’s weighting is BTC, while ETH, the largest altcoin by market cap, has a weighting of approximately 11.3%.  XRP has the next biggest weighting of 4.8%, while SOL and ADA have weightings of 2.7% and 0.81%, respectively. The SEC approving the conversion of Grayscale’s Digital Large Cap Fund was expected, a...

As the crypto market prepares to build on its Q2 momentum in Q3, smart money investors are now diversifying into new yet promising meme coins.  Among all new asset classes available, one that seems to be gaining heavy attention is TOKEN6900 (T6900) - an Ethereum-based meme coin powered by nothing but the sacred “6900” concept that transformed SPX6900 into a multi-billion dollar project.  SPX6900’s market performance since its debut in late 2023 has been nothing short of remarkable, especially when compared against other meme coins that also made their debuts at that time.  With a market cap well above $1.2 billion at press time, the project ranks fifth among the top meme coins worldwide, having successfully flipped the likes of Bonk, Fartcoin, Dogwifhat, and even Floki Inu.  According to on-chain data, early investors in SPX6900 bagged returns ranging from 100x to as high as 500x - making the “6900” narrative more than just a ...