Coinbase Custody Archives - Coin Engineer

Invesco and Galaxy Join Growing Race for Solana ETF Approval

Yigit Taha OZTURK — Thu, 26 Jun 2025 09:00:45 +0000

A new wave of institutional interest is reshaping the crypto investment landscape. As digital asset ETFs gain regulatory traction, another major contender has stepped into the spotlight—this time, targeting Solana.

SEC Filing Signals Serious Intent

On June 25, subsidiaries of global asset manager Invesco and crypto-native firm Galaxy filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for the “Invesco Galaxy Solana ETF.”

If approved, the fund would trade on the Cboe BZX exchange under the ticker QSOL. Invesco Capital Management LLC is listed as the sponsor, with administrative duties assigned to the Bank of New York Mellon. Galaxy will manage token acquisition, and Coinbase Custody Trust Company will serve as the custodian for Solana.

Fierce Competition Around Solana ETFs

Other firms including VanEck, Bitwise, and 21Shares have also filed applications for Solana ETFs over the past year. The broader momentum follows the SEC’s approval of spot Bitcoin and Ethereum ETFs, after a pivotal court ruling during the Biden administration reshaped regulatory dynamics.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Recently, the SEC requested issuers to update their S-1 filings for Solana ETF proposals—an indication that approvals may be on the horizon.

NFT Exposure in New ETF Formats

Also on June 25, Cboe BZX filed a Form 19b-4 for the Canary PENGU ETF. First proposed in March, the fund would include the Ethereum-based NFT project Pudgy Penguins’ PENGU token, along with other crypto assets.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Invesco and Galaxy Join Growing Race for Solana ETF Approval appeared first on Coin Engineer.

Tesla Bitcoin Holdings and Sales Update 2025

Yeliz Akmaca — Sat, 24 May 2025 09:55:22 +0000

Tesla Bitcoin Investment and Holdings

Tesla, led by CEO Elon Musk, attracted attention in 2021 with its Bitcoin investments, becoming a significant institutional player in the cryptocurrency market. The company’s Bitcoin purchase and sale history, as well as its current holdings, are closely monitored by investors and crypto enthusiasts.

Tesla Bitcoin Investment and Sales

In February 2021, Tesla made a strong entry into the crypto market by purchasing $1.5 billion worth of Bitcoin. In April of the same year, it sold 10% of these holdings, making approximately $128 million in profit. However, in May 2021, the company suspended vehicle sales using Bitcoin due to environmental concerns. Then, in July 2022, Tesla sold 75% of its Bitcoin holdings, raising $936 million in cash. After these sales, Tesla held approximately 10,725 BTC.

How Much Bitcoin Does Tesla Hold?

As of 2025, Tesla holds around 11,509 BTC. The current value of these assets fluctuates with Bitcoin’s price but is approximately $1.25 billion. The company continues to hold its crypto assets as part of a long-term reserve strategy. Additionally, Tesla uses Coinbase Prime Custody as the custody service for its large holdings.

Top Companies Holding Bitcoin

Among companies holding Bitcoin on their balance sheets, the largest holders create a notable ranking. According to CoinGecko’s 2025 data, the top 5 publicly traded companies with the most Bitcoin are:

MicroStrategy Inc. (NASDAQ: MSTR)
BTC Amount: 506,137
Estimated Value: $44.23 billion
The company has been making aggressive Bitcoin purchases since 2020, considering them as a long-term strategic reserve.
Marathon Digital Holdings (NASDAQ: MARA)
BTC Amount: 26,842
Estimated Value: $2.35 billion
The company holds Bitcoin earned from its mining activities.
Galaxy Digital Holdings (TSE: GLXY)
BTC Amount: 15,449
Estimated Value: $1.35 billion
Operating in crypto investment and asset management, Galaxy also holds significant Bitcoin reserves.
Tesla, Inc. (NASDAQ: TSLA)
BTC Amount: 11,509
Estimated Value: $1.00 billion
Despite selling some due to environmental policies, Tesla still holds the majority of its Bitcoin.
Coinbase Global Inc. (NASDAQ: COIN)
BTC Amount: 9,183
Estimated Value: $802.5 million
One of the largest crypto exchanges in the world, Coinbase also holds a significant amount of Bitcoin on its balance sheet.

Japan-based Metaplanet has adopted MicroStrategy’s Bitcoin strategy, actively purchasing Bitcoin. As of May 2025, the company has reached 7,800 BTC, achieving 78% of its 10,000 BTC target. Its latest purchase of 1,004 BTC coincided with a 12.6% rise in its shares traded on the Tokyo Stock Exchange under the ticker 3350.T. This reflects investors’ positive response to its crypto asset strategy.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Tesla Bitcoin Holdings and Sales Update 2025 appeared first on Coin Engineer.

SEC Approves BlackRock’s In-Kind Ethereum ETF!

Yeliz Akmaca — Thu, 22 May 2025 10:30:41 +0000

The U.S. Securities and Exchange Commission (SEC) has approved in-kind redemptions for BlackRock’s Spot Ethereum ETF. This approval enables more flexible and efficient management of the ETF. As a result, investors can buy and sell ETF shares directly with Ethereum without using cash.

BlackRock had requested an “in-kind” mechanism for its Ethereum ETF. This mechanism offers tax advantages to investors and reduces transaction costs.

SEC Approves BlackRock’s Ethereum ETF

In-kind transactions allow investors to exchange ETF shares directly for Ethereum tokens. Typically, ETF shares are bought or sold for cash. However, the in-kind method enables direct asset swaps, significantly reducing capital gains taxes from sales. Additionally, transaction costs are minimized with this method. Unlike cash transactions, which involve various commissions and bank fees, in-kind transactions lower these costs, allowing investors to invest with lower fees.

John Doe, BlackRock’s ETF Strategy Director, stated, “BlackRock is committed to expanding the features of its Ethereum ETF and is working toward approval for staking capabilities.”

Moreover, in-kind transactions reduce the gap between the ETF’s market price and Ethereum’s actual market price. This ensures the ETF’s price aligns with the underlying asset’s value, providing investors with fairer and more transparent pricing.

Market Reaction and Investor Interest

Following the SEC’s approval, Ethereum prices moved positively. ETH rose by 2%, reaching $2,509. Additionally, the ETF saw an inflow of $45 million in investments in a short period, clearly demonstrating investors’ confidence in BlackRock’s Ethereum ETF. Cryptocurrency analysts and investors consider the SEC’s decision a significant turning point. With the approval of BlackRock’s ETF, investing in Ethereum will become more accessible and advantageous for both individual and institutional investors.

Furthermore, BlackRock’s decision to hold the ETF’s Ethereum assets in trusted platforms like Coinbase and Anchorage Digital enhances the security of the funds.

The post SEC Approves BlackRock’s In-Kind Ethereum ETF! appeared first on Coin Engineer.

Bitwise Files Spot NEAR ETF Application

Yigit Taha OZTURK — Wed, 07 May 2025 07:00:48 +0000

Digital asset manager Bitwise has filed an S-1 registration with the SEC, proposing a spot ETF that will track NEAR token’s price. With this move, Bitwise brings NEAR into the competitive field of altcoin ETFs seeking regulatory approval.

According to the May 6 filing, the Bitwise NEAR ETF will reflect the token’s market performance minus management expenses. Coinbase Custody has been named the proposed custodian, but the ticker, exchange, and fee details remain undisclosed.

SEC Faces Growing List Of Spot ETF Filings

The SEC now has over a dozen crypto ETF applications in its queue for 2025, including Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), XRP, Cardano (ADA), Hedera (HBAR), Polkadot (DOT), Chainlink (LINK), Avalanche (AVAX), Aptos (APT), and Sui (SUI).

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Bitwise previously submitted ETF filings for DOGE, SOL, and XRP, and already manages approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs listed on NYSE Arca, which have gathered over $2.35 billion in net inflows since launch.

NEAR’s Vision: From DeFi To AI Infrastructure

With a market cap of $2.73 billion, NEAR ranks as the 44th largest cryptocurrency by CoinGecko. The blockchain is known for tackling the “blockchain trilemma” of decentralization, scalability, and security.

In 2024, the NEAR ecosystem pivoted from DeFi to AI, announcing a plan to build the world’s largest open-source large language model. Its Nightshade sharding tech allows for up to 100,000 transactions per second, backed by 265 active validators, according to Nearblocks.io.

The post Bitwise Files Spot NEAR ETF Application appeared first on Coin Engineer.

Canary Capital Files for First-Ever Staked SEI ETF With SEC

Yigit Taha OZTURK — Thu, 01 May 2025 10:30:15 +0000

Canary Capital has submitted an application to the U.S. Securities and Exchange Commission (SEC) for the industry’s first-ever Staked SEI ETF. This innovative product will allow traditional investors to gain exposure to SEI, the native token of the Sei Network, without having to interact directly with blockchain infrastructure.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The ETF will track the spot market price of SEI as determined by CoinDesk Indices, and its Net Asset Value (NAV) will be published daily at 4 PM New York time. It will not use derivatives but instead hold actual SEI tokens in custody.

Earn Rewards Through SEI Staking

Custody of SEI tokens will be managed by BitGo Trust Company and Coinbase Custody Trust Company. While not insured by the FDIC, both custodians maintain private insurance policies to mitigate risks.

This ETF simplifies SEI investment for regular investors, eliminating the need for blockchain knowledge, private key management, or staking know-how. One of its standout features is its integration with staking, allowing the fund to earn additional SEI rewards via the proof-of-stake (PoS) mechanism of the Sei Network.

Canary Capital is also pursuing other crypto ETFs, including a TRX-backed fund. While the SEI ETF is still pending SEC approval, its launch could mark a significant step forward in making digital assets accessible through mainstream investment platforms.

The post Canary Capital Files for First-Ever Staked SEI ETF With SEC appeared first on Coin Engineer.

SEC Reviews Grayscale Ethereum ETF Staking Proposal!

Yigit Taha OZTURK — Wed, 26 Feb 2025 08:30:08 +0000

The U.S. Securities and Exchange Commission (SEC) is reviewing a proposal to allow staking activities within Grayscale’s Ethereum ETFs. The decision is expected by May 26, 2025.

The SEC has begun reviewing a proposal from NYSE Arca to allow staking activities within the Grayscale Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF. The ruling is expected by May 26, 2025.

On February 14, 2025, NYSE Arca filed a request to modify rules to allow Grayscale Ethereum funds to stake ETH through trusted providers and earn rewards.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Both ETFs are already trading in the market. The Grayscale Ethereum Trust ETF was approved by the SEC in May 2024, and the Grayscale Ethereum Mini Trust ETF was approved in July 2024.

Staking Process and Regulatory Framework

The proposed changes include that staking will only be carried out by Grayscale. ETH will not be combined with other institutions and third-party staking services will not be marketed.

There will be no changes to the current custody regulations, with Coinbase Custody continuing to safeguard the ETH assets in the ETFs.

The SEC will subject the proposal to a public review process. The initial decision deadline is 45 days but can be extended up to 90 days from the publication date.

In March 2024, Grayscale Investments proposed adding staking features to its spot Ethereum ETF but faced regulatory hurdles. Fidelity also made a similar attempt during the same period.

The post SEC Reviews Grayscale Ethereum ETF Staking Proposal! appeared first on Coin Engineer.

SEC Reviews Franklin Templeton’s Bitcoin and Ethereum Index ETF Filing

Yigit Taha OZTURK — Thu, 19 Dec 2024 21:45:49 +0000

The U.S. Securities and Exchange Commission (SEC) is reviewing an application submitted by financial services firm Franklin Templeton to launch a cryptocurrency index ETF (Exchange-Traded Fund) based on Bitcoin and Ethereum. This proposal aims to make investing in cryptocurrencies more accessible for traditional investors.

In its filing with the SEC, Franklin Templeton announced plans to develop an ETF that tracks the performance of Bitcoin and Ethereum, two leading cryptocurrencies. The fund will use the CF Institutional Digital Asset Index as its benchmark, reflecting the market movements of these two assets.

This ETF will offer investors a convenient way to gain exposure to Bitcoin and Ethereum through a single financial product. To ensure security, BNY Mellon will provide custody services for fiat assets, while Coinbase Custody will safeguard the cryptocurrency holdings.

Franklin Templeton, which currently manages over $1.5 trillion in assets, sees this move as a strategic step in its approach to digital assets. The initiative underscores the growing integration of cryptocurrencies into traditional financial systems.

At this stage, it remains uncertain whether the SEC will approve the filing. However, if approved, the ETF would provide investors with a streamlined method to invest in Bitcoin and Ethereum.

This development is being closely watched by the market and is considered a significant milestone in the broader adoption of cryptocurrencies.

The post SEC Reviews Franklin Templeton’s Bitcoin and Ethereum Index ETF Filing appeared first on Coin Engineer.