ETH: The New Darling of Wall Street? You Won’t Believe What Happened Next! 😲

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What to know:

  • The U.S. Senate, in a rare moment of clarity, passed the GENIUS Act, sending Ethereum‘s value soaring above $2,500. Who knew they could do something right? 🤔
  • Vivek Raman of Etherealize is out there preaching the gospel of Ethereum, claiming it’s the new messiah of institutional finance. Amen! 🙌
  • Ether, the lifeblood of all on-chain actions, is on its way to being revered as a neutral, pristine asset, much like bitcoin. Or so they say! 😏

Good Morning, Asia. Here’s what’s making news in the markets:

As the sun rises over Asia, Ethereum is trading above $2,500, thanks to the Senate’s bipartisan love affair with the GENIUS Act. Who knew politics could be so profitable? 💰

While the Senate was busy patting itself on the back, Vivek Raman, the founder of Etherealize, was hustling on Wall Street, explaining why ETH is suddenly the belle of the ball in institutional finance. Talk about a busy day! 🏃‍♂️

Ethereum, nearly a decade old, is finally getting the attention it deserves. It’s like the awkward kid in school who suddenly becomes prom king. 🎉

“It’s an amazing job… running around from bank to bank, buy side to buy side, telling them what Ethereum tokenization means, how L2s work, and why it all flows through ether,” he told CoinDesk, probably while sipping overpriced coffee in the lobby of Wall Street’s Brookfield Place. ☕

As the founder of Etherealize, Raman is on a mission to enlighten Wall Street about ETH as neutral collateral, helping institutions tokenize assets and build on Ethereum. Sounds like a noble quest! 🏰

Raman insists that Ethereum’s core value proposition—its role as the settlement and collateral layer behind stablecoins and tokenized assets—is finally resonating with institutional investors. Better late than never, right? ⏳

“Every action is powered by ether,” he said. “Eventually, it’s going to be viewed as just as pristine as bitcoin. It’ll be the neutral asset for the whole ecosystem.” Well, that’s a bold claim! 💪

The turning point, according to Raman, was regulatory clarity. Who would have thought that clarity could be so revolutionary? 🤷‍♂️

“Ethereum’s potential hasn’t been allowed until now,” he said, pointing to the GENIUS Act and broader U.S. policy momentum. “For years we didn’t know if it was a security or a commodity.” Talk about an identity crisis! 😅

Despite the buzz around the ETH ETF, Raman argues that the real breakthrough for Ethereum came from regulatory clarity, not a ticker symbol. Who needs symbols when you have clarity? 🧐

“The ETH ETF cleared the way by signaling that ether is a commodity, but it still wasn’t explicit,” Raman said. “With clear market structure, the utility of Ethereum gets completely unleashed. Now ETH permeates everything: every tokenized asset transfer, every stablecoin transfer, every Layer 2, they all flow through ETH.” Sounds like a party! 🎊

And while Circle’s IPO and the rise of tokenized treasuries have brought new visibility to the sector, Raman believes savvy investors will want more than just equity exposure to stablecoin brands. Because why settle for less? 😏

“Circle may get the IPO, but Ethereum gets the flows,” he said. “ETH is what secures this whole ecosystem, and it’s the only neutral, non-censorable collateral that can route value between all these tokenized assets.” Wise words from a wise man! 🧙‍♂️

VanEck’s Solana ETF Comes Closer to Listing with DTCC Entry

VanEck’s proposed Solana Exchange Traded Fund (ETF) has been listed on the Depository Trust & Clearing Corporation (DTCC) website under the ticker symbol VSOL. This procedural step typically signals readiness for electronic clearing and settlement. How exciting! 🎉

VanEck’s DTCC listing comes amid growing institutional interest in Solana, following the blockbuster success of spot bitcoin and ether ETFs. Everyone wants a piece of the pie! 🥧

However, just like with those ETFs, Canada has beaten the U.S. in the race to get listed. Ouch! 😬

Four Canadian issuers, Purpose, Evolve, CI, and 3iQ, launched their Solana ETFs in April, following approval from the Ontario Securities Commission. Go Canada! 🍁

OKX Continues European Expansion with Regulated Launch in Germany and Poland

OKX has officially launched regulated crypto exchanges in Germany and Poland, marking a strategic expansion into two of Europe’s most active digital asset markets. Because why not? 🌍

The company now offers spot trading, staking, automated trading bots, and over 60 crypto-Euro pairs to users in both countries, supported by localized platforms with Euro onramps. Sounds fancy! 💼

“Germany and Poland are key growth markets in the EU, and our license allows us to tailor our products and services to meet the specific needs of users in each country, delivering greater value, enhanced security, and more efficient access to customers,” Erald Ghoos, CEO of OKX Europe, said in a release. Talk about customer service! 🙌

In the release, OKX emphasized its regulatory positioning, highlighting its Markets in Crypto-Assets (MiCA) compliance and ongoing transparency efforts, including 31 consecutive months of Proof of Reserves reports. Impressive! 📊

Market Movements:

  • BTC: Bitcoin briefly dipped to $103,396 amid Israel-Iran tensions before rebounding on continued institutional ETF buying, with low exchange reserves amplifying volatility in a tight trading channel between $103,405 and $107,780. What a rollercoaster! 🎢
  • ETH: Ethereum traded within a wide range over 24 hours amid Middle East tensions, showing resilience by rebounding from a $2,460 support zone with strong volume, though it continues to face stiff resistance near $2,800. Keep fighting, ETH! 💪
  • Gold: Gold remains rangebound below $3,400 as traders await Fed guidance, with geopolitical tensions, U.S. deficit concerns, and currency debasement risks supporting its long-term uptrend. The shiny stuff is still holding strong! ✨
  • Nikkei 225: Asia-Pacific markets slipped Wednesday, with Japan’s Nikkei 225 down 0.15%, as escalating Israel-Iran tensions and reports of Donald Trump weighing a military strike on Iran weighed on investor sentiment. Yikes! 😱
  • S&P 500: Stocks fell Tuesday as the Israel-Iran conflict entered its fifth day, with the S&P 500 closing down 0.84% at 5,982.72. Not the best news for investors! 📉

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2025-06-18 04:04