By Suzanne McGee
(Reuters) – Digital assets investment management firm 21Shares filed Friday for permission from U.S. regulators to launch an exchange-traded fund tied to the spot price of crypto token Solana.

It was the second such filing in as many days, following a similar move Thursday by VanEck. The Securities & Exchange Commission approved spot bitcoin ETFs offered by both firms, among others, in January after a long battle. Both VanEck and 21Shares are among the asset managers awaiting SEC approval to launch spot ETFs tied to the price of ethereum, the second-largest cryptocurrency.

A third asset manager, Canada’s 3iQ, filed earlier in June for permission from Ontario regulators to list a similar Solana-based product on the Toronto Stock Exchange. Solana is the fifth-largest cryptocurrency measured by market capitalization, according to CoinGecko.

The three filings have combined to drive the price of Solana 9.4% higher in the last seven days, even as the prices of bitcoin and ether dropped 4.6% and 2.8% respectively, according to CoinGecko.

So far, however, no futures contracts on Solana trade on the CME, in contrast to the pattern with both bitcoin and ether. The SEC approved futures-based ETFs tied to both tokens before considering the spot products.

The existence of futures contracts, however, “should not be the sole criterion for ETF eligibility,” said Andrew Jacobson, head of legal at 21Shares.

(Reporting by Suzanne McGee; Editing by Cynthia Osterman)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

In the ever-evolving world of cryptocurrency, new tokens continually emerge, each vying for investor attention and market dominance. Among these, Mpeppe (MPEPE) has recently captured significant interest, with experts predicting it could surpass the established meme coin Bonk (BONK). This article delves into the unique features of Mpeppe (MPEPE), its potential for going viral, and what experts say about its future compared to Bonk (BONK).

The Rise of Mpeppe (MPEPE)

Mpeppe (MPEPE) has quickly gained traction in the crypto market, offering a unique combination of meme culture and practical applications. Built on the Ethereum network, Mpeppe (MPEPE) leverages advanced blockchain technology to provide secure and efficient transactions. Its applications in sports betting and fan engagement ensure ongoing demand, positioning Mpeppe (MPEPE) for long-term growth.

The token’s advanced technological foundation, including the use of smart contracts, appeals to a broad range of investors. Analysts predict substantial returns for Mpeppe (MPEPE) as it gains broader adoption, making it an attractive investment for those looking to capitalize on its potential. The smart contract address for acquiring Mpeppe (MPEPE) tokens is 0xd328a1C97e9b6b3Afd42eAf535bcB55A85cDcA7B.

Bonk (BONK): A Popular Meme Coin

Bonk (BONK) has been a significant player in the meme coin sector, known for its vibrant community and engaging narrative. The token has built a loyal following by leveraging the power of meme culture to create a compelling investment opportunity. Early investors in Bonk (BONK) have enjoyed substantial returns, making it a popular choice among crypto enthusiasts. However, with the rise of new tokens like Mpeppe (MPEPE), the competition is heating up.

Why Mpeppe (MPEPE) Is Poised to Go Viral

Several factors contribute to Mpeppe (MPEPE)’s potential for going viral and surpassing Bonk (BONK):

• Real-World Applications: Unlike many meme coins that rely purely on speculative trading, Mpeppe (MPEPE) offers tangible benefits through its applications in sports betting and fan engagement. These real-world utilities ensure ongoing demand for the token.

• Technological Sophistication: Mpeppe (MPEPE) leverages the Ethereum network’s advanced features, including support for smart contracts, enhancing its security and efficiency. This technological edge appeals to tech-savvy investors seeking innovative digital assets.

• Growth Potential: With a strong foundation and increasing adoption, Mpeppe (MPEPE) is poised for significant growth. Analysts predict substantial appreciation in value, making it an attractive option for those looking to maximize their returns.

• Community Engagement: A strong and engaged community is crucial for the success of any cryptocurrency. Mpeppe (MPEPE) has been building a dedicated user base, which helps drive adoption and maintain demand. This community support is a key factor in its growth trajectory.

Expert Opinions on Mpeppe (MPEPE) vs. Bonk (BONK)

Industry experts have weighed in on the potential of Mpeppe (MPEPE) to surpass Bonk (BONK). They highlight several key areas where Mpeppe (MPEPE) excels:

• Innovation: Experts point to Mpeppe’s (MPEPE) innovative use of blockchain technology and smart contracts as a major advantage. These features not only enhance the token’s security and efficiency but also provide a robust platform for future developments.

• Utility: The practical applications of Mpeppe (MPEPE) in sports betting and fan engagement set it apart from many other meme coins. This real-world utility ensures ongoing demand and adds a layer of stability to the investment.

• Market Sentiment: Positive market sentiment surrounding Mpeppe (MPEPE) is another factor contributing to its potential for substantial growth. As more investors recognize its unique value propositions, the demand for Mpeppe (MPEPE) is expected to increase, driving up its value.

• Community Support: The strong and engaged community backing Mpeppe (MPEPE) is crucial for its long-term success. This community support helps drive adoption and maintain demand, positioning the token for sustained growth.

The Future of Mpeppe (MPEPE) and Bonk (BONK)

As Mpeppe (MPEPE) continues to gain traction, its future prospects look promising. The token’s blend of meme culture and practical utility, backed by advanced technology, position it for long-term success. The excitement and increased market activity surrounding Mpeppe (MPEPE) provide a unique opportunity for investors to capitalize on its potential.

For Bonk (BONK), maintaining its relevance in the face of increasing competition will require continuous innovation and strategic partnerships. By enhancing its features and expanding its ecosystem, Bonk (BONK) can attract new investors and retain its loyal user base.

Conclusion

In conclusion, Mpeppe (MPEPE) presents a unique opportunity for investors looking to diversify their portfolios and achieve substantial returns. Its blend of meme culture and practical applications, backed by advanced technology and strong community engagement, makes it a compelling investment. While Bonk (BONK) remains a significant player in the meme coin market, the rise of Mpeppe (MPEPE) offers exciting opportunities for those ready to embrace its potential. The future looks bright for Mpeppe (MPEPE) as it continues to gain momentum and capture the interest of the cryptocurrency community.

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The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.

“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.

Crypto Exchanges Dropped Stablecoins

At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.

EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.

“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.

“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”

Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.

We are 10 days away from the new MiCA regulations going into effect and basically every major exchange has either started to pull stablecoin support off their exchanges – and USDC, which everyone assumed would have their EMI license by now, doesn’t. Today from @binance 👇

If the… pic.twitter.com/z1U9bkuTdr

— Rob Hadick ＞|＜ (@HadickM) June 20, 2024

Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.

Comply with MiCA from 30 June

Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.

With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.

Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.

The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.

The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.

“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.

Crypto Exchanges Dropped Stablecoins

At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.

EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.

“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.

“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”

Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.

We are 10 days away from the new MiCA regulations going into effect and basically every major exchange has either started to pull stablecoin support off their exchanges – and USDC, which everyone assumed would have their EMI license by now, doesn’t. Today from @binance 👇

If the… pic.twitter.com/z1U9bkuTdr

— Rob Hadick ＞|＜ (@HadickM) June 20, 2024

Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.

Comply with MiCA from 30 June

Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.

With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.

Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.

The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.