Author: The Daily Hodl

Crypto firms are now waiting to hear back on 72 active applications for new crypto-related exchange-traded funds (ETFs). James Seyffart, an ETF analyst at Bloomberg Intelligence, compiled the list of submissions to the U.S. Securities and Exchange Commission (SEC). ETFs awaiting approval include funds tied to Solana (SOL), XRP (XRP), Sui (SUI), Litecoin (LTC), Axelar (AXL) Hedera (HBAR), BNB, Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Polkadot (DOT), Aptos (APT), Chainlink (LINK), Pudgy Penguins (PENGU), Official Trump (TRUMP), Melania (MELANIA) and Bonk (BONK). Other potential new ETFs are tied to a basket of currencies, and a few are based on Bitcoin (BTC) and/or Ethereum (ETH), assets that have already…

Payments giant PayPal is reportedly going to start offering customers yield on its proprietary stablecoin product. According to a new report by Bloomberg, PayPay is planning on offering rewards to users of their stablecoin PayPal USD (PYUSD) as a means of increasing its usage. The report says that the program is expected to launch sometime during the summer, though no specific date was mentioned, and would allow users of both PayPal and Venmo to earn 3.7% annually on PYUSD holdings in their crypto wallets. The rewards – which accrue on a daily basis and get paid out monthly – will…

The new Chair of the U.S. Securities and Exchange Commission (SEC) says that creating clear regulatory guidelines for crypto assets is a top priority for the agency. During a speech at his swearing-in ceremony, SEC Chairman Paul Atkins, who previously served as one of the regulatory body’s Commissioners between 2002 and 2008, says that under his helm, the SEC plans to create “rational and coherent” rules for digital assets. “It’s time for the SEC to end its waywardness and return to its core mission that Congress set for it: investor protection, fair orderly and efficient markets, and capital formation. I…

A top Coinbase executive says that investors who missed out on gold’s massive rally may start flooding into Bitcoin (BTC). In a new interview on CNBC Squawk Box, John D’Agostino, Coinbase’s head of institutional strategy, says Bitcoin is an attractive asset for investors looking for a gold alternative as a hedge against inflation. “I spoke to a couple of traders who said if you believe these conditions, these de-dollarization conditions are going to persist, you’re looking at gold obviously first and foremost. But maybe you missed out on that trade. You’re looking at that rally and saying I missed the…

A closely followed analyst believes that gold’s bull market has entered a stage where the precious metal could go higher for longer. Pseudonymous analyst Dave the Wave tells his 149,500 followers on the social media platform X that gold is at a point in its parabolic rally where the precious metal could easily print 2x gains. The trader shares a chart suggesting that gold’s parabolic surge began in 2016 and could extend up to 2028 to hit a massive price target of $7,500. “Gold entering its parabolic blow-off stage…”  At time of writing, gold is worth $3,341. Turning to Bitcoin,…

The Commodity Futures Trading Commission (CFTC) is asking the public to comment on the idea of allowing round-the-clock trading in derivatives markets. In a statement, the federal agency, which regulates the derivatives markets, says it is exploring the possibility of 24/7 trading to keep up with shifting financial trends. Says Acting Chairman Caroline Pham, “As I have long said, the CFTC must take a forward-looking approach to shifts in market structure to ensure our markets remain vibrant and resilient while protecting all participants. One evolving trend is the move to 24/7, 24/6, or 24/5 trading hours. I look forward to…

BitMEX founder Arthur Hayes says the bottom is in for Bitcoin (BTC), and that more rallies are on the way due to several macro catalysts. In a new essay posted to his Substack, Hayes says President Trump has essentially already retreated in his tariff war after likely going too far beforehand. According to Hayes, the pivot from the White House likely means that the worst of market uncertainty has already passed, and that the BTC bottom was already printed in early April below the $75,000 level. The Maelstrom chief investment officer says that BTC will likely catch a strong bid…

Binance customers can now trade the brand new native altcoin of a permissionless interoperability protocol. The top global crypto exchange airdropped Hyperlane (HYPER) to qualified users this week and then listed the asset for trading on Tuesday. HYPER is the 15th project launched via Binance’s HODler Airdrops program, which rewards BNB holders with tokens based on historical snapshots of their balances. Hyperlane bills itself as an interoperability protocol for cross-chain communication across different blockchain environments. “Hyperlane is the first permissionless interoperability layer that allows smart contract developers to send arbitrary data between blockchains. Developers can use Hyperlane to move tokens, execute…

Crypto firm Galaxy Digital is executing an asset swap involving the native tokens of layer-1 blockchains Ethereum (ETH) and Solana (SOL), according to on-chain data. Data from blockchain tracking platform Lookonchain suggests that Galaxy Digital has, over the past two weeks, sold Ethereum worth tens of millions of dollars and purchased Solana. “In the past two weeks, Galaxy Digital deposited 65,600 ETH ($105.48 million) to Binance and withdrew 752,240 SOL ($98.37 million) from Binance.” Galaxy Digital’s portfolio reorganization is coming amid the firm’s head of research, Alex Thorn, predicting that the US will purchase Bitcoin (BTC) this year to add…

Former Goldman Sachs executive Raoul Pal believes that Bitcoin (BTC) will rally in the coming months on the back of a weakening US dollar. Pal tells his 1.1 million followers on the social media platform X that he thinks policymakers will methodically debase the US dollar to manage debt payments. According to Pal, the dollar debasement will trigger a surge in global money supply and benefit risk assets like Bitcoin and crypto. “Everyone needs and wants a weaker dollar to service their dollar debts. No one wants it to move too fast (it blows up value at risk), but they…