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On May 4, the U.S. Securities and Exchange Commission (SEC) began the official review of Grayscale's application to list a multi-cryptocurrency investment product on the NYSE Arca. The SEC announced on the Federal Register website that it will have up to about 240 days to review the listing of Grayscale's "Grayscale Digital Large Cap Fund (GDLC)," which provides exposure to various cryptocurrencies such as , , , , and .
2. Michigan state pension fund invests $11 million in Ethereum physical ETF
The pension fund of the U.S. state of Michigan has made a $11 million (about 151 billion won) investment in an Ethereum (ETH) physical exchange-traded fund (ETF). According to the investment filing submitted by the Michigan state pension fund to the SEC on May 4, the fund invested 460,000 shares each in Grayscale's Ethereum ETF and Ethereum Trust.
3. Bitcoin open interest decreases by $2 billion
The open interest in the Bitcoin futures market has recently decreased by about $2 billion. According to data released by the on-chain analysis platform CoinGlass, investors in the Bitcoin futures market mostly closed their positions on May 4, leading to a significant decrease in open interest.
4. UK pension fund invests 3% of its budget in Bitcoin
A UK pension fund has invested 3% of its budget in Bitcoin. UK pension expert Cartwright announced that an anonymous UK pension fund allocated about 3% of its budget to Bitcoin at an average purchase price of around $65,800.
5. Monetary Authority of Singapore to expand asset tokenization project "Guardian" in collaboration with SBI
On May 4, the Monetary Authority of Singapore (MAS) announced that it will expand the experiments of its asset tokenization (RWA) project "Guardian," which it has been leading, through collaboration with SBI Digital Markets, a subsidiary of the SBI Group. MAS said it will explore further expansion of the Guardian project, which has successfully traded 7 currencies in 6 jurisdictions with the participation of more than 40 financial institutions. SBI Digital Markets will support various trading experiments of security tokens in the additional experiments of Guardian.
6. Bernstein: Bitcoin will reach $200,000 by the end of 2025, regardless of the U.S. presidential election results
In a report released on May 4, U.S. investment firm Bernstein predicted that Bitcoin will succeed in a price surge, regardless of the results of the U.S. presidential election scheduled for May 5. Bernstein forecasted that Bitcoin will reach $200,000 by the end of 2025, citing the U.S. government's poor budget planning, high debt, and increased demand for hedge assets.
