INSIGHTS
Spot Ether ETFs are coming really soon

Here’s what happened!

Just four months after approving spot Bitcoin ETFs, the U.S. Securities and Exchange Commission (SEC) has now approved spot Ethereum ETFs. This approval followed issuers addressing the SEC's key concerns, including removing plans to allow staking of the Ether holdings in the ETFs.

BlackRock, Grayscale, Fidelity, and Ark Invest are among the issuers asked by the SEC to update certain documents, sparking optimism in the landscape and leading to successful event development.

However, the status is still pending as issuers need to submit the S-1 registration statement, which will then be reviewed and approved. This process can take days, weeks, or even months. The SEC might launch all at once or follow a first-come, first-served approach.

Could there be more than 2 digital asset products?

We'll have to wait and see. But for now, let's celebrate another major victory for the crypto world.

The staggering market cap of NVIDIA

SUBSTRATES
What else is going on?

• Ledger debuts Ledger Stax, the world’s first secure touchscreen device offering personalized features, designed by Tony Fadell, also known as the godfather of the iPod.

• Mastercard launches ‘Crypto Credential,’ a P2P service that simplifies cryptocurrency transactions in Europe and Latin America by enabling the use of Mastercard usernames instead of complex wallet addresses.

• PayPal’s PYUSD stablecoin is now live on Solana, aiming to offer cheaper and faster transactions with greater flexibility and control.

• Musk’s xAI secures $6 billion in Series B funding from key investors including Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, and others. The startup has reached a post-money valuation of $24 billion to drive product launches, infrastructure development, and continued AI research.

• Mistral debuts Codestral, its coding assistant trained in over 80 programming languages, including Python, Java, C++, JavaScript, and Bash, as well as less common ones like Swift and Fortran.

• OpenAI establishes a Safety and Security Committee, led by directors including CEO Sam Altman, to advise on critical decisions within 90 days, with experts like Aleksander Madry and Lilian Weng contributing, and consulting with external experts like Rob Joyce and John Carlin.

• TikTok unveils Symphony - a Creative AI suite enhancing content development and productivity for marketers, ushering in a new era of creativity and scalability.

• MoonPay introduces Web3 Tools, a comprehensive, enterprise-grade platform designed to create mainstream-ready digital experiences. It offers features to help brands build communities, foster loyalty, and generate new revenue streams with blockchain-backed technology.

• Canva releases several AI-powered features, allowing users to create ads, manipulate photos, generate prompt-to-video content, edit text, and access an AI Apps marketplace, all aimed at enhancing workflow.

• Cristiano Ronaldo launches 'Forever Worldwide: The Road to Saudi Arabia,' his latest NFT collection, on the Binance NFT marketplace.

• Truecaller's Max Protection setting uses AI to block all non-approved and potentially spam calls, providing high-level protection for Truecaller Premium users on Android, even offline.

• HUGO BOSS launches its new Web3 loyalty program, combining traditional features with blockchain elements like NFTs, exclusive offers, and personalized experiences.

• Microsoft’s Copilot is now available on Telegram, ready for instant use without leaving the app.

FROM THE REPOSITORY
5 tools to add to your maker’s arsenal

• Antispace is your digital brainstorming pal

• BlockSmith lets you launch and manage tokens on Solana

• Wisecut turns long videos into highlights

• The Holy Coins is a directory of promising early-stage web3 projects

• BeforeSunset is your daily personal AI assistant

*Shipping amazing products or services in AI or web3? Reach out and get featured for free to your community of over 1k readers.

SCOOPS OF THE WEEK

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