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Author: Admin | 2025-04-28
Eberle says.“It is extremely coincidental that all of the proposals took place within a few weeks of the SEC lawsuits against Coinbase and Binance,” says Eberle. “Those entities, especially EDX and BlackRock, are proposing solutions that satisfy the concerns that the SEC has mentioned.”BlackRock Has Plenty of CompanyThose proposals, per a report by Eberle’s Castle Analytics, were:EDX Markets has launched an institutional execution-only trading venue with the backing of Citadel Group, Charles Schwab and Fidelity Digital Assets.EDX has also announced plans to launch a clearing firm, EDX Clearing.Deutsche Bank says it intends “to offer digital asset custody services to its institutional clients.”Those steps could avoid the market manipulation and the potential for fraud that the SEC has cited in its opposition to prior proposals for Bitcoin ETFs and for spot-price crypto exchanges.For example, EDX’s new exchange for institutional customers would separate broker-dealer activities from each other and from the exchange itself. “It would assure that the exchange is neutral and not pocketing customers’ money,” Eberle says, the way FTX is alleged to have done. “It would assure that broker-dealers hold client assets in segregated accounts. And it would assure that broker-dealers don’t collude with each other.”EDX’s proposed clearing firm, EDX Clearing, would segregate trading from settlement. “It would provide a mechanism for making sure that both sides of any trade really exist,” Eberle said. It would create a neutral third party that guarantees traders that money to buy assets such as Bitcoin and the assets themselves actually exist.Deutsche Bank’s proposal would serve the European cryptocurrency market, and that would help U.S. traders by enlarging the overall global market for crypto and enhancing liquidity and demand.BlackRock Is Avoiding Grayscale’s MistakesSerious Bitcoin traders will want to digest some of the fine print in fund sponsor filings before committing big bucks. Why, for
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