Bitcoin Breaks Away from Gold: A Sign of Maturity?

• Fidelity, VanEck, and more have refiled spot Bitcoin ETF applications after reports of SEC rejections.
• South Korea has passed new crypto legislation focusing on investor protections.
• Bitcoin’s correlation with gold has recently dropped to a yearly low, suggesting a decoupling from other assets.

Fidelity and VanEck Refile Spot Bitcoin ETF Applications

Fidelity, VanEck, and other firms have refiled their spot Bitcoin ETF applications after initial reports of them being rejected by the SEC. The filings are still under review, but the SEC has highlighted technicalities that caused them to fall short of expectations.

South Korea Passes New Crypto Legislation

The South Korean government recently passed new legislation aimed at improving investor protection when it comes to cryptocurrency investments. The new rules focus on preventing market manipulation and fraud while encouraging responsible investing practices.

Bitcoin-Gold Correlation Plunges to Yearly Low

The correlation between Bitcoin’s price and gold prices recently dropped to its lowest level in over a year – suggesting that crypto may be maturing as an asset class separate from other traditional investment options like gold. This could signal that investors are beginning to view cryptocurrencies as legitimate long-term investments rather than just speculative instruments or safe havens.

BNY Mellon’s Crypto Custody Venture Falls Afoul of SEC Rules

BNY Mellon announced plans for a crypto custody venture earlier this month, but the proposed venture ran afoul of SEC rules due to its lack of provisions for protecting customer assets from theft or loss. This highlights the need for stricter regulations when it comes to digital asset custodianship in order for institutional investors to feel comfortable entering into the space.

Vodafone Confirms Rumors of Cardano NFT Plans

Vodafone recently confirmed rumors that they are planning to launch a series of non-fungible tokens (NFTs) based on Cardano’s blockchain technology. The telecom giant is hoping that these NFTs will open up new possibilities for businesses looking to tokenize their products or services on the blockchain in order to increase transparency and build trust with customers.