Cango Closes $10.5 Million Investment, Secures $65 Million in New Equity Commitments

PANews reported on September 21st that Crypto.news reported that CryptoSlam data showed that NFT market transaction volume increased by 1.27% over the past week, reaching $108.6 million. Market participation has rebounded, with the number of NFT buyers increasing by 53.24% to 276,735 and the number of NFT sellers increasing by 67.19% to 206,669. However, the number of NFT transactions decreased by 6.65% to 1,630,579. Ethereum network transaction volume reached $46.7 million, a 42.85% surge from the previous week. Mythos Chain network transaction volume reached $12.15 million, down 21.91%. Bitcoin network transaction volume reached $9.82 million, down 2.17%. This week's high-value transactions include: BOOGLE sold for 1,380 SOL ($324,846 USD) CryptoPunks #8521 sold for 55.48 ETH ($255,288 USD) CryptoPunks #4420 sold for 56.388 ETH ($254,250) CryptoPunks #2642 sold for 52.1 ETH ($239,735) CryptoPunks #1180 sold for 49.89 ETH ($232,394)

Robert Mitchnick and Susan Athey’s 2018 study valued XRP up to $32 under adoption scenarios. Bitcoin is trading above the modeled fair value of $93,000 at $112,800, while XRP has remained stagnant around $3. A resurfaced research paper co-authored in 2018 by Robert Mitchnick, now Head of Digital Assets at BlackRock, has drawn fresh attention [...]]]>

The post Grayscale’s ‘first multi-crypto asset ETP’ in the works: Will BTC, ETH win? appeared on BitcoinEthereumNews.com. Key Takeaways What does this approval mean for investors? It allows traditional investors to access diversified exposure to major cryptocurrencies without buying tokens directly. Which cryptocurrencies are included in GDLC? Bitcoin, Ether, XRP, Solana, and Cardano. The U.S. Securities and Exchange Commission (SEC) has greenlit the Grayscale Digital Large Cap Fund (GDLC) for stock exchange trading.  The approval, coinciding with relaxed ETF listing standards, opens the door for traditional investors to access the crypto market more easily and signals growing institutional support. Grayscale CEO Peter Mintzberg weighs in Grayscale CEO Peter Mintzberg confirmed the development on X (formerly Twitter), praising the SEC’s Crypto Task Force for providing much-needed clarity to the sector. He said,  “The Grayscale team is working expeditiously to bring the FIRST multi #crypto asset ETP to market with Bitcoin, Ethereum, XRP, Solana, and Cardano.” He further added,  “Thank you to the SEC #Crypto Task Force for their continued, unmatched efforts in bringing the regulatory clarity our industry deserves.” The newly approved Grayscale Digital Large Cap Fund (GDLC) offers investors exposure to five of the world’s largest cryptocurrencies: Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Solana [SOL], and Cardano [ADA]. Impact on included tokens Following the announcement, markets reacted positively. BTC traded at $117,153.61 after a 0.69% rise in the past 24 hours, Ether climbed 2.02% to $4,579.73, XRP at $3.10 up by 3.07%, Solana at $245.94 up by 4.78%, and Cardano reached $0.9130 up by 4.85%, per CoinMarketCap. By packaging multiple cryptocurrencies into a single ETP, GDLC allows traditional investors to gain diversified crypto exposure without the need to open exchange accounts or purchase individual tokens. This green light comes just months after the SEC had delayed Grayscale’s plan to convert GDLC from an over-the-counter fund to an ETP listed on NYSE Arca. With approval now granted, the fund is…