Gemini is reportedly considering an initial public offering.
Bloomberg reports that the Winklevoss twins’ company is in talks with potential advisors.
Gemini, the cryptocurrency exchange backed by billionaire Winklevoss twins Tyler and Cameron, is reportedly considering an initial public offering in the US.
Per a Bloomberg report on Feb. 6, Gemini is looking to go the IPO way as soon as this year. The publication cited details shared by unnamed people reportedly familiar with the development.
Gemini, the cryptocurrency firm backed by the billionaire Winklevoss twins, is considering an IPO as soon as this year https://t.co/ddLeiC9FeS
Gemini, among the first cryptocurrency exchanges in the world, is currently in consultation with potential advisors concerning the potential IPO.
According to Bloomberg, the public listing is still a matter under discussion and no decision has been reached yet.
However, this report aligns with similar developments in the recent months, with several crypto companies said to eye potential IPOs. This includes stablecoin issuer Circle, trading platform eToro, crypto exchange Kraken and Bullish Global.
Many more could follow, with momentum likely to gather pace amid the notably pro-crypto Donald Trump administration.
Ondo Finance announced the new layer 1 Ondo Chain at its blockchain event in New York on February 6
The onchain finance platform says the L1 targets institutional adoption of tokenized real-world assets (RWAs)
Ondo Finance, a leading institutional-grade finance platform, has announced the launch of Ondo Chain, a new layer 1 blockchain network targeted for institutional adoption of tokenized real-world assets (RWAs).
This latest Ondo Finance news comes as the native token ONDO surged in recent months amid RWA market growth. Earlier on February 6, 2025, US President Donald Trump-backed World Liberty Financial scooped more ONDO to add to its crypto haul.
Lookonchain shared the World Liberty ONDO purchase on X.
Ondo Finance’s new L1 chain for tokenized assets onchain
Per an announcement, Ondo aims to accelerate adoption of institutional-grade financial markets with onchain offerings on Ondo Chain. The L1 is built to bring a platform that combines security and compliance to advance the tokenized RWA market.
“Ondo Chain is designed to meet the highest institutional standards while remaining open for developers and innovators,” said Nathan Allman, CEO of Ondo Finance. “It tightly couples onchain and offchain infrastructure, reducing cost, enhancing security, and ultimately enabling a better user experience. For these reasons, we anticipate Ondo Chain becoming the hub for the DeFi ecosystem centered on tokenized assets.”
1/ Today, we’re thrilled to announce Ondo Chain, our new Layer 1 blockchain purpose-built for institutional-grade RWAs.
Design advisors for the chain include new members of the Ondo Ecosystem: Franklin Templeton, Wellington Management, WisdomTree, Google Cloud, ABN Amro, Aon,… pic.twitter.com/a35GHB7OFW
As well as Ondo Chain, the summit saw the Ondo Finance team provide key updates to its other infrastructure product – the Ondo Global Markets. Ondo GM is a tokenization platform aimed at bringing publicly-traded securities onchain.
Ondo announced the new L1’s as part of its Wall Street 2.0 update at Ondo Summit 2025. The event, the first for the blockchain network, has attracted several major crypto and blockchain industry players.
Ripple, Chainlink, Blockdaemon, and Uniswap all have executives and representatives at the Ondo Summit event in New York City. The summit has also seen the involvement of asset managers Franklin Templeton, Wellington Management, and WisdomTree among others.
BlackRock is planning to launch a Bitcoin ETP in Switzerland.
This move follows the success of BlackRock’s US Bitcoin ETF.
The Bitcoin ETP could boost crypto adoption with the EU’s MiCA regulations.
BlackRock Inc., the world’s largest asset manager, is gearing up to launch a Bitcoin Exchange-Traded Product (ETP) in Europe, marking another significant step in the firm’s expansion into the cryptocurrency market. The new ETP product is set to be registered in Switzerland.
This move follows the resounding success of BlackRock’s $58 billion US Bitcoin ETF. The success of BlackRock’s US Bitcoin ETF, which by early February 2025 had gathered $57.5 billion in net assets, speaks volumes about the investor appetite for such products.
CEO Larry Fink’s remarks at the World Economic Forum in Davos highlighted Bitcoin’s potential as a hedge against currency debasement, suggesting a broader acceptance of cryptocurrencies as an alternative store of value.
This European venture is anticipated to attract both institutional and retail investors looking for exposure to Bitcoin without the complexities of direct cryptocurrency ownership.
Switzerland is becoming a digital asset innovation in Europe
The decision to domicile the ETP in Switzerland was strategic, leveraging the country’s reputation as a hub for digital asset innovation, particularly within its “Crypto Valley” in Zug.
Switzerland’s progressive regulatory framework for cryptocurrencies has made it an attractive location for BlackRock to extend its Bitcoin investment offerings beyond North American borders.
The choice of Switzerland not only aligns with BlackRock’s aim to capitalize on crypto-friendly regulations but also positions the firm to lead in the European market.
Notably, the plans to launch an ETP in Europe comes at a time when the European Union is navigating its own regulatory path through the Markets in Crypto-Assets (MiCA) regulation, which was established in 2023.
The MiCA framework aims to ensure consumer protection and market integrity, providing a stable environment for crypto investments.
Despite the European crypto market capitalizing at $17.3 billion — far less than the US’s $116.4 billion — BlackRock’s move could significantly boost the sector.
BlackRock’s entry into this market underscores the growing institutional acceptance of cryptocurrencies, a trend that has been further propelled by the US Securities and Exchange Commission’s approval of Bitcoin ETFs in January 2024.
Cboe has submitted a 19b-4 filing to be allowed to list and trade options on spot Ethereum ETFs.
The proposal follows high demand for Ethereum ETFs.
NYSE American has made a similar proposal though it is yet to receive SEC approval.
The Cboe BZX Exchange has officially submitted a 19b-4 filing to the US Securities and Exchange Commission (SEC), seeking approval to list and trade options on spot Ethereum exchange-traded funds (ETFs).
This move signifies a pivotal step for Cboe towards expanding investor access to Ethereum, mirroring the growing demand within the cryptocurrency market.
Cboe seeks to expand its investment tools
Cboe’s proposal aims to broaden the spectrum of investment tools available to market participants. By allowing options trading on Ethereum ETFs, investors would gain an accessible means to engage with Ethereum’s price movements.
The 19b-4 filing includes funds such as those managed by Bitwise and Grayscale, notably the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust, which hold Ethereum as their primary asset.
The exchange posits that these options will serve not only as another avenue for investors to gain exposure to Ethereum but also as a crucial hedging instrument against the inherent volatility of the cryptocurrency market.
Notably, Cboe’s filling follows on the heels of a similar proposal by NYSE American, which has yet to receive SEC approval, with the regulator citing concerns over market manipulation, investor protection, and ensuring a fair trading environment.
The SEC’s hesitance is rooted in Section 6(b)(5) of the Securities Exchange Act of 1934, which emphasizes the protection of investors and the maintenance of fair and orderly markets.
Despite these challenges, Cboe’s proposal is framed as a competitive response to NYSE’s initiative, suggesting a potential market eagerness to see these financial products come to fruition.
Cboe’s approach in the filing underscores that Ethereum ETF options would be governed by the same stringent rules as other fund share options on its platform, including listing requirements, margin rules, and trading halts. This regulatory alignment aims to reassure the SEC of the proposal’s adherence to existing frameworks, similar to those applied to Bitcoin ETF options, which were approved under similar regulatory scrutiny.
The surge in investor interest in Ethereum ETFs
The timing of the Cboe filing coincides with a surge in investor interest in Ethereum ETFs. Recently, these funds have seen unprecedented trading volumes and net inflows.
For instance, on February 4, 2025, Ethereum ETFs recorded net inflows of $307.77 million, the highest single-day inflow of the year, demonstrating robust investor confidence.
This performance not only supports the rationale behind introducing options trading but also highlights the market’s readiness for such financial innovations.
The introduction of options on Ethereum ETFs could potentially stabilize Ethereum’s price by enhancing market liquidity.
Options provide sophisticated risk management tools for institutional investors, allowing them to hedge against price fluctuations. Retail traders might leverage these options for speculative gains.
This could lead to a more mature and stable market environment for Ethereum, fostering greater institutional adoption and contributing to the cryptocurrency’s mainstream financial integration.
Industry experts, like Nate Geraci from The ETF Store, have indicated that the approval process might follow a timeline similar to that of spot Bitcoin ETFs, which took about 8-9 months from launch to options trading approval.
If this precedent holds, we might see options on Ethereum ETFs becoming a reality in the near future, potentially as soon as next month, assuming regulatory hurdles are cleared.
Stablecoin transaction value surpassed Mastercard and Visa by 200% and 119%
The number of monthly stablecoin transactions reached 100 million in 2024
Stablecoin transaction value roughly doubled year-on-year from $7 trillion in 2023
The transaction value of stablecoins hit $15.6 trillion in 2024 overtaking traditional payments made with Mastercard and Visa.
The data, published in Ark Invest Big Ideas Report 2024, showed that stablecoins surpassed Mastercard and Visa by 200% and 119%, respectively. Despite a two-year bear market that witnessed a more than 70% decline in market capitalization, stablecoin growth remained uninterrupted, reaching a five-year high.
The number of stablecoin transactions hit 100 million monthly, roughly 72% and 41% of which were processed by Mastercard and Visa.
Compared to previous years, the number of people using stablecoins to transfer funds has steadily increased. For instance, in 2023, the value of stablecoin transactions was roughly $7 trillion with Visa taking the lead at around $13 trillion.
Of the stablecoins on the market, Tether (USDT) continues to dominate the market followed by Circle (USDC). Together, they account for 90% of the total supply.
Tether also reported $5.2 billion in profits during the first half of 2024. Tether and Circle account for 60% of the revenue generated by the top five networks and applications.
“Collectively, stablecoins USDT, USDC, DAI/USDS, and USDE generated revenues of $3.35 billion, or $6.7 billion at an annual rate, during the second half of 2024,” said Ark Invest.
News of stablecoin growth comes as David Sacks, President Donald Trump’s AI and crypto czar, indicated that one of the priorities within the White House is creating stablecoin legislation.
Republican Senator Bill Hagerty introduced a bill yesterday to create a framework for stablecoins.
The bill is proposing to implement a “clear, regulatory framework” for their use. With stablecoin use gaining popularity overseas, the US is hoping that the bill will reinforce the dollar’s dominance while aiding Trump’s mission to make America the crypto capital of the world.
