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Bitwise throws NEAR ETF in race for SEC approval with S-1 filing

Digital asset manager Bitwise has filed to list a spot Near exchange-traded fund with the US Securities and Exchange Commission, adding to a growing list of altcoins currently vying to win regulatory approval.

The Bitwise Near (NEAR) ETF will track the price movements of the NEAR token, minus expenses, through a traditional brokerage, Bitwise’s May 6 registration statement shows.

Bitwise named Coinbase Custody as the proposed custodian of the Bitwise NEAR ETF. The management fee, ticker and stock exchange it seeks to list on weren’t named yet.

Source: Cointelegraph

Bitwise must also file a 19b-4 filing with the SEC to kickstart the regulator’s approval process for the fund. The crypto native asset manager indicated it would make such a filing when it registered a trust linked to the NEAR ETF in Delaware on April

US regulator moves to drop appeal against Kalshi

The US Commodity Futures Trading Commission (CFTC) is seeking permission from the court to drop an appeal against prediction market Kalshi. The move could allow the platform to offer political event contracts to users without contest.

In a May 5 filing in the US Court of Appeals for the District of Columbia Circuit, lawyers for the CFTC filed an unopposed motion for voluntary dismissal, suggesting an agreement with Kalshi. The motion, subject to approval by the court, could end the CFTC’s appeal against a federal court ruling that the financial regulator could not bar Kalshi from listing political event contracts, i.e., bets on elections.

Motion to dismiss appeal filed by the CFTC on May 5. Source: Courtlistener

Kalshi stipulated in a joint filing that the company would “bear its own costs, court fees and attorney fees incurred” if the court granted the

Tether adds Chainalysis tokenization platform for compliance, monitoring

Tether, the issuer of the world’s largest stablecoin by market cap USDt (USDT), has announced a partnership with Chainalysis that will integrate the company’s compliance and monitoring tools onto Tether’s tokenization platform. The move comes amid expanding oversight across the crypto industry.

Launched in November 2024, the Hadron by Tether platform is designed for institutions, corporations and governments, entities that may be interested in tokenizing real-world assets ranging from financial instruments and real estate to debt and commodities.

The months following the launch have seen increased adoption of real-world asset (RWA) tokenization. According to RWA.xyz, the total RWA market amounts to $22.1 billion, up 10.5% in the past 30 days. There are a total of 100,115 holders of RWA tokens, up 5.6% in the same time frame.

“By integrating Chainalysis directly into the platform, we’re offering

FT report suggests advance knowledge of Melania Trump memecoin launch

A group of crypto traders reportedly purchased millions of dollars worth of Melania Trump’s memecoins minutes before she announced the launch on social media.

According to a May 6 Financial Times report, the crypto traders earned roughly $100 million from buying $2.6 million worth of MELANIA tokens before the public launch on Jan. 19. Shortly after Trump announced the memecoin launch on social media, the price surged from roughly $2.00 to $12.95 — a 550% increase. The traders reportedly sold their holdings within 12 hours.

“In total, the 24 accounts bought up 16.7mn of the 200mn total $MELANIA tokens scheduled for sale during the launch period,” the Financial Times reported. “[…] the run of sales that started pre-launch continued. About $900,000 worth of tokens bought by an additional 22 accounts in the 42 seconds after the launch.”

Price of MELANIA token from Jan. 19 to Jan. 28. Source:

Bitcoin could rally regardless of what the Federal Reserve FOMC decides this week: Here’s why

Key Takeaways:

The Fed may pause rates but inject liquidity. Crypto could rally as a recession hedge.

The weak US dollar and gold rally signal a shift to scarce assets.

The US Federal Reserve Open Market Committee (FOMC) interest rate decision on May 7 will be a defining moment for risk-on assets, including cryptocurrencies. While the consensus points to no change in interest rates, Bitcoin (BTC) and altcoins could see gains if the US Treasury is compelled to inject liquidity to stave off an economic recession.

A more accommodative monetary policy could stimulate activity, but the Federal Reserve (Fed) is also contending with a weakening US dollar. Some analysts argue that a US interest rate cut may fail to stimulate growth as recession risks persist, potentially creating an ideal environment for alternative hedge assets such as cryptocurrencies.

Source: Jim Paulsen

Economist and investor Jim Paulsen notes

21Shares launches ETP for Crypto.com's Cronos token

21Shares has launched an exchange traded product (ETP) in Europe, providing investors with exposure to Crypto.com’s Cronos token, the asset manager said.

The ETP is listed on Euronext’s Paris and Amsterdam exchanges, 21Shares said in a May 6 announcement.

Cronos (CRO) is a layer-1 blockchain network affiliated with Crypto.com, a centralized exchange.

The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support “decentralised finance (DeFi), NFTs, and Web3 applications,” 21Shares said.

The ETP aims to provide investors with a “straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges,” 21Shares said.

The CRO token’s historical performance. Source: CoinMarketCap

“By launching a Cronos ETP, we are offering investors […] regulated exposure to a blockchain ecosystem that is driving real-world adoption,” Mandy Chiu, 21Shares’

Bitcoin bulls rush into long positions ahead of May 7 Fed FOMC interest rate decision

Key Takeaways:

Data shows Bitcoin bulls opening margin long positions from $94,400.

A $189 million increase in Bitcoin futures open interest and a 15% increase in trading volume show sustained buying interest.

BTC momentum tends to slow before FOMC meetings and then turns volatile afterward. The same could happen following this week’s Federal Reserve statements.

Bitcoin (BTC) bulls are holding strong around the $94,500 level as the market awaits the Federal Open Market Committee (FOMC) meeting on May 7. Bitcoin analyst Axel Adler Jr. noted BTC’s price strength and pointed out a bullish cluster of long positions forming around $94,400 in the futures market. A similar cluster was observed at the end of April, which pushed BTC prices to $97,500.

Bitcoin futures position dominance data. Source: X.com

Similarly, Bitcoin futures open interest (OI) exhibited a swift increase of 2,000 BTC,

New Hampshire governor signs crypto reserve bill into law

Kelly Ayotte, the Governor of New Hampshire, signed a bill into law allowing the state’s treasurer to invest in cryptocurrencies, including Bitcoin (BTC).

In a May 6 notice, Ayotte announced on social media that New Hampshire would be permitted to “invest in cryptocurrency and precious metals” through a bill passed in the state Senate and House of Representatives. House Bill 302, introduced in New Hampshire in January, will allow the state’s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion, eliminating many tokens and memecoins.

Signing New Hampshire’s crypto reserve bill into law on May 6. Source: Governor Kelly Ayotte

With the signing of the bill into law, New Hampshire was the first of several US states considering passing legislation to establish a strategic Bitcoin reserve, including an initiative

Standard Chartered sees BNB more than doubling in 2025

Asset manager Standard Chartered predicts that Binance’s ecosystem token, BNB, could more than double in price this year, according to an analyst report reviewed by Cointelegraph.

The asset manager sees BNB’s price rising to approximately $1,275 per token by the end of 2025 and as high as $2,775 by the end of 2028, according to the research report.

As of May 6, BNB trades at nearly $600 per coin, for a fully diluted value (FDV) of approximately $84 billion, according to data from CoinMarketCap.

Price forecasts for BNB. Source: Standard Chartered

“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note.

“We expect this relationship to continue to hold, driving BNB’s price from around USD 600 currently to

Bitcoin price rallied 1,550% the last time the ‘BTC risk-off’ metric fell this low

Key Takeaways:

The Bitcoin Risk-Off signal dropped to 23.7, its lowest since March 2019, indicating low correction risk and a high likelihood of a bullish trend developing.

Despite the recent decline in network activity, bullish macro indicators like the Macro Chain Index (MCI) suggest Bitcoin could soon rally above $100,000.

On May 5, the Bitcoin Risk-Off signal, an indicator that uses onchain and exchange data to assess correction risk, dropped to its lowest level (23.7) for the first time since March 27, 2019, when Bitcoin (BTC) traded at $4,000. The signal is currently in the blue zone, which historically suggests low correction risk and a high probability of a bullish trend. When the oscillator rises above 60 or turns red, it implies a high risk of bearish movement.

Bitcoin Risk-Off signal indicator. Source: CryptoQuant

In 2019, the same signal preceded a staggering 1,550% rally that saw Bitcoin soar above $68,000