Digital asset manager CoinShares has officially started trading on the Nasdaq Nordic exchange after going public in an “oversubscribed” initial public offering (IPO).

New York-based asset manager WisdomTree has filed for a Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The ETF would trade on the Chicago Board Options Exchange’s bZx platform under the ticker BTCW.

Tether’s USDT stablecoin launched on the Solana (SOL) blockchain, six months after the move was first announced. The initial mint was only 1.5 USDT.

Top stories in the Crypto Roundup today:

• Crypto Asset Manager CoinShares Starts Trading on Nasdaq Nordic
• WisdomTree Submits Bitcoin ETF Filing to SEC
• Tether’s USDT Launches on Ethereum Competitor Solana

Crypto Asset Manager CoinShares Starts Trading on Nasdaq Nordic

Digital asset manager CoinShares has officially started trading on the Nasdaq Nordic exchange after going public in an “oversubscribed” initial public offering (IPO).

CoinShares is trading on the Nasdaq First North Growth Market, an alternative stock exchange for small and medium-sized growth companies in Europe. Its offering consisted of 3.364 million shares at 44.9 SEK ($about $5.29) each, totaling 151 million SEK (around $17.8 million).

The offering was oversubscribed by more than 440% as it garnered subscriptions for 675 million SEC (around $80 million) from 2,280 investors. CoinShares is trading under the ticker “CS.” The firm’s CEO, Jean-Marie Mognetti, said the listing is a “major and exciting milestone” and added:

“As investors look for new ways to gain exposure to the expanding digital asset class, their response to our IPO is an encouraging sign for our future on Nasdaq as well as further evidence of the increased interest in the wider digital asset industry.”

In January, CoinShares launched an Ethereum exchange-traded product (ETP) on the Swiss SIX exchange. The ETP already has over $75 million worth of assets under management.

WisdomTree Submits Bitcoin ETF Filing to SEC

New York-based asset manager WisdomTree has filed for a Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The ETF would trade on the Chicago Board Options Exchange’s bZx platform under the ticker BTCW.

WisdomTree’s filing details the WisdomTree Bitcoin Trust would aim to provide exposure to the price of bitcoin. Its share price is based on the CME CF Bitcoin US Settlement Price, which is calculated based on the prices on major bitcoin spot exchanges.

While a custodian is yet to be named, the Delaware Trust Company will be the trustee. The move sees WisdomTree join a number of firms seeking SEC approval for a Bitcoin ETF. Crypto-focused financial services firm NYDIG filed for such an ETF last month, for example, with Morgan Stanley among the proposed fund’s authorized participants.

Leading ETP issuer VanEck filed for its own Bitcoin ETF back in January. VanEck’s ETF would trade on the Cboe exchange, and its proposal is the only one that has an exchange attached.

Tether’s USDT Launches on Ethereum Competitor Solana

Tether’s USDT stablecoin launched on the Solana (SOL) blockchain, six months after the move was first announced. The initial mint was only 1.5 USDT.

Tether’s USDT is currently the leading stablecoin with a market capitalization above $38 billion. Solana is the seventh blockchain on which the stablecoin has been issued, after Bitcoin, Ethereum, EOS, TRON, Algorand, and the Binance Smart Chain.

Most USDT circulates on the Ethereum blockchain, which has recently been struggling with record-high transaction fees, keeping investors looking for alternatives. Solana’s network can reportedly scale up to 50,000 transactions per second, and has more than 300 validators.

While transaction fees on Ethereum are above $10 on average, Tether said that Solana-based USDT transactions could come with fees as low as $0.00001. USDT’s integration could increase liquidity on Solana and help boost the development of DeFi projects.

Bitcoin on Ethereum, Visualized

Nearly 1% of Bitcoin is locked up on Ethereum. WBTC, HBTC and renBTC are the most popular wrapped BTC tokens in circulation at the moment. Notice the decline in purchases of wrapped BTC while prices were booming followed by a complete recovery.

State of the Crypto by Top Tier Exchange Volume

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