COINDESK DAILY: ARK Sells Last of Its ProShares Bitcoin Futures ETF Shares; Consensys Files Lawsuit Against the SEC

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4.7 • 698 Ratings

🗓️ 26 April 2024

⏱️ 2 minutes

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Summary

Host Jennifer Sanasie breaks down the latest news in the crypto industry from ARK Invest selling the last of its BITO shares to Consensys filing a lawsuit against the SEC. To get the show every day, follow the podcast here. "CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today. Cathie Wood's ARK Invest offloaded the last of its shares in ProShares Bitcoin Strategy ETF (BITO). Plus, Consensys files a lawsuit against the SEC, and bitcoin-centric stablecoin company OpenDelta, raised $2.15 million in a pre-seed round. - Consensus is where experts convene to talk about the ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Register now at consensus.coindesk.com. - This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	ARC sold the last of its pro shares Bitcoin Futures ETF shares. The investment firm sold
0:06.9	237,983 biddo shares worth $6.7 million from its next generation internet ETF.
0:15.4	ARC bought more than 4 million biddo shares late last year as a short-term play in anticipation
0:20.5	of the approval
0:21.3	of a spot Bitcoin ETF in the United States. The plan was always to swap them once approval
0:26.8	came. Meanwhile, its own ARC21 shares Bitcoin ETF is now the fund's largest holding. Thursday's
0:33.6	closing price was $64.76.
0:41.9	Consensus, one of the main supporters of the Ethereum Network filed a lawsuit against the U.S.
0:53.7	SEC on Thursday. The development company said on X that the SEC should not be allowed to arbitrarily expand its jurisdiction to regulate the future of the Internet by wrongly labeling ETH as a security, and that the SEC's
0:55.4	reckless approach is bringing chaos to developers, market participants, and more. Consensus added
1:01.7	that through this lawsuit, it hopes to ensure that Ethereum remains a vibrant and indispensable
1:06.7	blockchain platform. And to Bitcoin linked stable coin firm Open Open Delta, has raised just over $2 million.
1:13.8	The startup is one of the first to build tokenized tech for Bitcoin's Roons era.
1:18.6	The CEO said, quote, we want to use Bitcoin to create stable value in a fiat-dominated currency.
1:25.9	And quote, Open Delta's flagship token, USDO will retain its dollar value by hedging Bitcoin
1:31.5	deposited by users as collateral.
1:34.2	The token won't go live until May, and even then, it will only be open to waitlisters
1:38.9	in a closed beta.
1:40.7	That's a wrap for CoinDesk Daily.
1:42.5	Get more updates on CoinDesk.com, and we'll see you next time.

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