đToday's crypto news to know
Experts make ETF approval calls
Bloomberg exchange-traded fund (ETF) analysts Eric Balchunas and James Seyffart are calling for a "potential Alt Coin ETF Summer," according to a note released on Wednesday.
âGet ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs,â an X post from Balchunas states.
They predict that the US Securities and Exchange Commission (SEC) could approve exchange-traded funds (ETFs) tracking broad crypto indexes by July. The SEC could also âact early on spot Solana and staking ETF filingsâ after REX-Osprey filed for Solana and Ethereum ETFs with staking components using a C-Corp structure on May 30.
Seyffart and Balchunas now place the approval odds of SOL and Litecoin ETFs at 90 percent. Spot Solana ETF approval odds also jumped to 91 percent on Wednesday on Polymarket.
Stripe to acquire Privy
Stripe has announced plans to acquire Privy, a specialized cryptocurrency wallet infrastructure developer, for an undisclosed amount in a deal signaling Stripe's deepening involvement in the digital asset space.
Under the terms of the purchase, Privy will operate as a subsidiary within Stripe, focusing on providing infrastructure for developers engaged in building solutions on cryptocurrency rails. According to Privy's announcement, this transition to Stripe's umbrella will empower the company with âmore resources, flexibility, and firepower.â
Privy's core expertise lies in offering comprehensive infrastructure for companies involved in the development and management of digital asset wallets. Its tech enables millions of secure crypto wallets on a global scale.
This acquisition aligns with the broader trend of established financial institutions and tech giants integrating blockchain and cryptocurrency technologies into their portfolios.
