- SEC approves in-kind transactions for crypto ETPs, letting investors swap shares for Bitcoin or Ether, saving costs.
- Rakbank becomes first UAE bank to offer retail crypto trading via its app, using Bitpanda for secure trades.
- Ray Dalio suggests 15 percent portfolio in Bitcoin or gold to hedge against US debt crisis.
Crypto Gets a Boost from SEC Approval
Big news in crypto today as the US Securities and Exchange Commission (SEC) approved in-kind transactions for crypto exchange-traded products (ETPs). What this means is investors can now trade shares directly for Bitcoin or Ether directly, not cash, making it cheaper and more streamlined.
SEC Chairman Paul Atkins called it a “new day” for crypto, saying the rules will make ETPs more efficient. Jamie Selway from the SEC’s trading division said this cuts costs for everyone involved, from fund managers to investors. It’s a huge step for crypto, bringing it closer to mainstream finance.
This change builds on the SEC’s earlier approvals of spot Bitcoin and Ether ETFs, which let investors track crypto prices without owning the coins directly. In-kind redemptions mean authorized participants don’t have to sell assets on the market, saving on transaction fees.
With a clearer regulatory path, crypto markets could see more trust and growth, especially as the US works to catch up with global crypto hubs. Investors are excited about the flexibility this brings to crypto funds.
Crypto Trading and Investment Insights
In the UAE, Rakbank made history as the first traditional bank to let retail customers trade crypto right from its mobile app.
Partnering with Bitpanda, a regulated platform in Dubai, Rakbank lets users buy, sell, and swap crypto using UAE dirhams without extra exchange fees.
Group CEO Raheel Ahmed said this makes crypto trading simple and secure, opening the door for everyday folks in the UAE to join the crypto wave. It’s a big move for a region eager to embrace digital finance.
Meanwhile, hedge fund guru Ray Dalio suggested putting 15 percent of your portfolio into Bitcoin or gold to hedge against the US debt crisis.
On the Master Investor podcast, he said this mix offers the best balance of risk and reward, a jump from his earlier 1 to 2 percent Bitcoin advice in 2022.
While Dalio prefers gold, he owns some Bitcoin and sees both as smart bets against currency devaluation. His words are stirring up crypto investors, who see this as a nod to Bitcoin’s growing role in tough economic times.
Also Read: Michael Saylor Hints at More Bitcoin Buys as Part of Strategy
