Metasphere Labs Inc., an innovator in tokenized assets and open metaverse environments, is excited to provide several significant developments within the industry that are expected to impact the digital and carbon asset landscape.
Potential for Ether ETFs
In a groundbreaking move, the U.S. Securities and Exchange Commission (SEC) has asked major exchanges, including Nasdaq, CBOE, and NYSE, to refine their applications for listing spot ether exchange-traded funds (ETFs). 1. This development could be a major shift, considering the SEC’s previous cautious stance, and is expected to have a profound impact on the market. The price of ether surged by 18% on Monday and continues to climb, highlighting the market’s positive reaction1 & 2.
BlackRock’s Tokenized Treasury Fund Takes the Lead
In another landmark development, BlackRock’s BUIDL fund became the largest tokenized treasury fund, reaching $375 million and capturing almost 30% of the $1.3 billion tokenized treasury market3. This rapid growth, achieved in just six weeks has captivated digital asset firms and traditional finance in tokenized Real World Assets (RWAs).
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1 – https://www.reuters.com/markets/us/us-sec-asks-exchanges-fine-tune-ether-etf-filings-positive-sign-approval-say-2024-05-21/
2 – Ether surges 18% amid new hope for spot Ether ETF approvals (cointelegraph.com)
3 – https://www.coindesk.com/markets/2024/04/30/blackrocks-buidl-becomes-largest-tokenized-treasury-fund-hitting-375m-toppling-franklin-templetons/
Metasphere Labs’ Ongoing Projects and Partnerships
Metasphere is developing tokenized assets, particularly within the carbon and natural capital economy. The company has a strategic partnership with Pure Sky Registry LLC to create a blockchain-integrated carbon credit registry. This initiative aims to make carbon credit transactions more transparent, secure, and efficient, revolutionizing carbon credit management. The MVP (minimum viable product) is set to be delivered by July 1, 2024.
Natasha Ingram, CEO of Metasphere, emphasizes the significance of these developments: “These industry advancements highlight the growing acceptance and integration of digital and carbon assets. As we continue to develop innovative solutions in these areas, we are poised to leverage these trends to create significant value for our stakeholders.”
About Metasphere Labs is based in Vancouver, British Columbia. The company develops solutions for the metaverse, DAOs, gamification, and Web3, addressing social challenges related to climate change and aiming for a positive planetary impact.
Photo by Mike Benna on Unsplash
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