SEC Set to Examine Tokenization Rules With Coinbase, Blackrock, Galaxy, Robinhood Joining

BlackRock's Bitcoin ETF, the iShares Bitcoin Trust, is nearing a significant breakthrough as the SEC considers expanding options trading limits from 250,000 to 1 million contracts. This potential change reflects a growing confidence in the Bitcoin market and could enhance trading activity for the ETF.

Bitcoin has recently rebounded above the $90,000 mark after a period of intense selling pressure, yet the Coinbase Premium Index remains negative, indicating that US institutions are selling more aggressively than retail investors. This situation reflects ongoing market fears and uncertainty following a significant correction from the cryptocurrency's all-time high in October.

Bitwise has made a significant advancement in the cryptocurrency sector by becoming the first issuer to include staking in its Avalanche ETF, as indicated by its recent SEC filing. This move brings the ETF closer to market readiness and highlights the growing interest in staking as a viable investment strategy within the crypto landscape.

On November 21, Bitcoin experienced significant inflows to exchanges, exceeding 9,000 BTC, as prices fell to $80,600, marking the lowest level in seven months. Approximately 45% of these deposits were in large chunks of 100 BTC or more, indicating a trend of coins being moved for sale rather than casual rebalancing.

Hedera's HBAR token has been reinstated to the Coinbase 50 Index, marking its return to the KraneShares Coinbase 50 ETF and COIN50 perpetuals as trading volume and price show signs of recovery above resistance levels. This reinstatement follows a period of volatility and price fluctuations for HBAR.

Ark Invest has made a significant investment by purchasing $16.5 million worth of Coinbase stock, marking its largest acquisition of Coinbase shares since August 1. This purchase coincided with a positive trend in the cryptocurrency market, where Coinbase's stock closed at $264.97, reflecting a 4.27% increase, and Bitcoin regained over 3.3% to reach $90,000.

Miami International Holdings has announced the sale of a majority stake in LedgerX to Robinhood and Susquehanna International Group, marking a significant shift in the ownership of the cryptocurrency derivatives platform. This acquisition aligns with Robinhood's strategic expansion into the prediction markets sector, which has seen substantial growth recently.

A coalition representing major stock exchanges has urged the U.S. Securities and Exchange Commission (SEC) to reconsider its proposal to grant an 'innovation exemption' to brokers and crypto firms for offering tokenized stocks. This pushback highlights concerns over regulatory oversight and market integrity in the evolving landscape of digital assets.