Bitpush editor's daily selected Web3 news:
【US SEC Approves Physical Creation/Redemption for Spot Bitcoin and Ethereum ETFs】
The U.S. Securities and Exchange Commission (SEC) has officially approved the in-kind creation/redemption mode for all spot Bitcoin and spot Ethereum ETFs. Bloomberg analyst James Seyffart suggests that future approvals for other Altcoin ETFs will likely allow this physical creation/redemption mode from the start.
The in-kind creation/redemption mode means ETF issuers can directly accept or deliver underlying crypto assets (such as Bitcoin or Ethereum) instead of cash settlement, which is typically considered more efficient and more aligned with crypto market characteristics. This move signals a progression towards a more mature and accepted crypto ETF market in the United States.
【Strategy Acquires 21,021 BTC at Approximately $2.46 Billion】
According to an official announcement, Strategy has acquired 21,021 BTC at approximately $2.46 billion, with each Bitcoin priced around $117,256, and has achieved a 25.0% Bitcoin return in 2025 to date. As of July 29, 2025, the company holds 628,791 BTC, with an average cost of approximately $73,277 per Bitcoin, valued at around $46.08 billion.
【The Information: Crypto Exchange Kraken Seeks Approximately $500 Million in Funding, Valuing at $15 Billion】
The Information reports that crypto exchange Kraken is seeking approximately $500 million in funding, valuing the company at $15 billion.
【Phoenix: BTCS Inc Submits $2 Billion Shelf Registration, Potential Funds May Be Used to Purchase Ethereum】
According to Phoenix, blockchain technology company BTCS Inc. (NASDAQ: BTCS) has submitted a mixed shelf registration statement covering up to $2 billion in common stock, preferred stock, warrants, and units. The company states that the proceeds from this offering may be used to purchase Ethereum (ETH).
【Hong Kong Monetary Authority: 6-Month Transition Period for Stablecoin Regulation】
The Stablecoin Regulation will take effect this Friday, and the Hong Kong Monetary Authority states it will implement a 6-month transition period to handle existing stablecoin issuers in Hong Kong, including issuing temporary licenses to issuers capable of complying with regulatory requirements. If issuers fail to meet requirements within 3 months of the regulation's effectiveness, they must orderly cease operations in Hong Kong within 4 months. If the financial management commissioner is not satisfied with an issuer's ability to meet licensing criteria, the issuer must orderly cease Hong Kong operations within a month of receiving a rejection notice.
【SEC Evaluating BlackRock's Ethereum ETF Staking Feature, Grayscale Litecoin Proposal Delayed】
The SEC is reviewing BlackRock's application to include a "Staking" feature in its Ethereum ETF and has sought public comments. Previously, Nasdaq submitted this rule change on behalf of BlackRock, following similar moves by other asset management companies. Notably, the SEC's Corporate Finance Division has previously stated that certain staking activities do not involve securities issuance.
Simultaneously, the SEC has decided to postpone the approval of Grayscale's Litecoin ETF proposal until October 10. Nevertheless, the SEC also voted on Tuesday to approve the directive allowing crypto exchange-traded products to conduct physical creation and redemption, which is a positive development for the market.
Since the Trump administration, the regulatory environment has become more crypto-friendly, with the SEC weighing dozens of crypto ETF proposals. Previously, REX-Osprey had launched the first US crypto ETF with a staking feature through different channels.
【Federal Reserve Board Member Kugler Absent from This Week's Policy Meeting, Voting Members Reduced to 11】
According to foreign media, the Federal Reserve stated that Board Member Kugler is absent from this week's two-day July policy meeting due to personal matters. This may mean only 11 FOMC members will vote on this week's policy decisions, instead of the usual 12. Although Board Members Waller and Bowman are expected to be two dissenting voices supporting a rate cut this month, the committee is still likely to maintain rates unchanged with an overwhelming majority. According to Federal Reserve policy, if a regional Fed president is absent from voting, other presidents can serve as alternates. However, board member positions have no alternates.
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