Cryptocurrency ETFs: SEC Wants to Facilitate Tokenized Products

The U.S. Securities and Exchange Commission (SEC) wants to facilitate tokenized exchange-traded funds (ETFs), according to chairman Jay Clayton. The agency is collaborating with other U.S. regulators to determine how to regulate different crypto products. SEC Open to Tokenization of ETFs SEC Chairman Jay Clayton talked about the commission’s approach to regulating crypto products during a panel discussion hosted by the Chamber of Digital Commerce earlier this month. The event, entitled “Two Sides of the American Coin: Innovation & Regulation of Digital Assets,” also features acting Comptroller of the Currency…

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Record $1B in tokenized Bitcoin shows BTC holders want a slice of DeFi

After failing to hold the $11K mark and exposing what some analysts have described as a general apathy to trade BTC at these levels, Bitcoin (BTC) price is once again flirting with $11,000.  As suggested by Cointelegraph contributors Marcel Pechman and Micheal van de Poppe, a move above $11K is not a deeply significant milestone as the confluence of multiple factors, including looming overhead resistance and low trading volume decrease the likelihood that the digital asset will breakout once above $11K. Cryptocurrency daily market performance snapshot. Source: Coin360 The supposed…

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More than $1B in Bitcoin has been tokenized for DeFi

More than $1 billion worth of Bitcoin (BTC) has now been tokenized to access decentralized finance protocols on the Ethereum network. That’s equivalent to the entire total value locked, or TVL, in DeFi less than four months ago. According to DeFi Pulse, roughly 98,300 BTC (worth $1.05 billion) has been tokenized using protocols other than Blockstream’s Lightning Network — equating to more than 12% of the DeFi’s sector’s $8.57 billion combined capitalization. Number of Bitcoins locked in DeFi protocols: Defi Pulse The milestone illustrates the increasing popularity of ETH-based protocols…

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Tokenized whiskey fund buys first 1,000 barrels of Kentucky bourbon

A fund launched in March with the aim of tokenizing up to $20 million worth of whiskey has announced its first successful investment round and the purchase of its first tranche of Kentucky bourbon. Wave Financial Group announced Sept. 11 that its Kentucky Whiskey 2020 Digital Fund had bought an initial 1,000 barrels from the Wilderness Trails distillery. Investors are expected to benefit from the spirit’s price appreciation during the aging process of around five to six years. As Cointelegraph previously reported, the value is expected to increase from around…

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$500M in BTC tokenized for DeFi is just the beginning

Crypto analytics firm Messari estimates that $500 million worth of Bitcoin (BTC) has been tokenized on the Ethereum network for use in decentralized finance (DeFi) protocols. The firm’s latest report points out however that this figure represents just 0.3% of Bitcoin’s $216 billion market cap, meaning there is ample opportunity for projects that facilitate the migration of Bitcoin onto Ethereum, to capture significant value. According to DeFi Pulse, popular Bitcoin tokenization protocols WrappedBTC (WBTC) and RenVM are the ninth and 10th largest DeFi projects by locked funds, with $453 million…

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Government-Backed Tokenized Gold With ‘Killer Features’

The Universal Protocol Alliance — a consortium of crypto firms comprising Bittrex Global, Ledger, CertiK, and Uphold —  has launched a token backed by the Western Australian government-owned Perth Mint. The tokens, dubbed ‘Universal Gold’ or UPXAU, can be purchased on Uphold and spent using the firm’s debit card. Investors can purchase UPXAU from $1 with no investment limits. Unlike mainstream gold products which often have 0.4% monthly custody fees, the token is free to hold. In a July 30 announcement, JP Thieriot, Uphold’s chief executive, said the token had…

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Review: ‘HOW ARE WE’ – Tokenized Performance Art Film

As Cointelegraph reported, earlier this week a quarantine-inspired performance art film called HOW ARE WE was hashed and minted into a non-fungible token on the Ethereum blockchain. The project also minted another group of fungible HOW tokens and distributed these amongst the film’s contributors. The rights to the work are now controlled by the main token holder, although mechanisms are in place to ensure that any change of ownership will also reward the holders of the HOW tokens. The entire value of the initial sale will be distributed between the…

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Performance Art Film Is Now Tokenized on the Ethereum Blockchain

HOW ARE WE, a performance art collaboration consisting of 15 short works filmed in COVID-19 quarantine, has been hashed and minted into a non-fungible token on the Ethereum blockchain. Additionally, a mechanism has been put in place to reward the project’s contributors whenever the asset is sold. Artists benefit from potentially appreciating assets A legally binding contract grants the rights to the film to the holder of the ERC-721 token in which the hash and metadata of the artwork is stored. This means that if, for instance, the Museum of…

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‘Risky’ Tokenized Real Estate Platform Hits New Heights After Paypal Ban

U.S. tokenized real estate platform RealT hit record highs in sales and new users after it turned to crypto-only transactions, following a ban by payments platform Paypal in April. The Ethereum-based startup tokenizes and sells U.S. property, allowing users around the world to share in property ownership for as little as $50. According to RealT’s Twitter account, 62% of purchases on their platform were made via Paypal prior to the ban. Over the course of a year, there were more than $800,000 Paypal transactions, with only four disputes raised by…

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Formula 1 Open Tokenized Crate Sale on Ethereum Blockchain

F1 Delta Time, the Ethereum-powered blockchain game has begun to sell in-game item crates.  Players are now able to purchase a collection of cars, parts, drivers and racing gear with the ERC-721 non-fungible tokens (NFT), according to F1 Delta Time official announcement from Feb. 25. The sale will run through March 9, with 6,500 total crates up for grabs with prices set to increase from the current levels after March 3. NFT’s are a form of a digital collectible that are not interchangeable since they carry unique qualities and vary…

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