Curious about today’s developments in crypto? Stay up to date with the latest market-moving news, from Bitcoin price shifts to key trends shaping blockchain, DeFi, NFTs, Web3, and the evolving landscape of crypto regulation.
In today’s crypto headlines: Nasdaq has submitted a rule-change proposal to the U.S. Securities and Exchange Commission (SEC) that could open the door for regulated exchanges to trade tokenized stocks; fresh data reveals $5 billion in stablecoins flowed into the Ethereum network last week; and El Salvador marks the anniversary of its bold embrace of Bitcoin.
Nasdaq Seeks SEC Approval to Open Doors for Trading Tokenized Stocks
Nasdaq, the world’s second-largest stock exchange, is pushing for U.S. regulatory approval to list tokenized stocks, marking a bold step toward merging traditional finance with digital assets.
On Monday, Nasdaq submitted a formal request to the SEC seeking a rule change that would pave the way for the exchange to list tokenized stocks.
The exchange operator has formally petitioned regulators to revise key rules — including the very definition of a security — in order to enable the trading of tokenized stocks under the same framework that governs traditional equities, so long as the digital counterparts are recognized as equivalent.
Bloomberg reports that Nasdaq’s filing with the SEC is more than a mere technical adjustment — it strikes at the very foundations of how stocks are issued and settled.
Nasdaq is pushing for tokenized assets to be clearly identified, ensuring that all market participants — including clearing and settlement entities like the Depository Trust Company — can accurately process these trades.
“A security may be traded in the Nasdaq Market Center in either traditional form (a digital representation of ownership and rights, but without utilizing distributed ledger (‘blockchain’ technology)) or tokenized form (a digital representation of ownership and rights which utilizes blockchain technology,” the company stated in the filing.
An excerpt from Nasdaq’s proposal to amend the exchange’s rules to enable the trading of securities in tokenized form. Source: Nasdaq
Ethereum Sees $5 Billion Surge in Stablecoins in Just One Week
Ethereum saw a surge of approximately $5 billion in new stablecoins over the past week, driving the network’s total stablecoin supply to a record-breaking all-time high.
The supply of stablecoins on Ethereum has more than doubled since January 2024, soaring to a record $165 billion, according to Token Terminal’s report on Sunday.
While figures differ slightly across data sources, RWA.xyz reports Ethereum-based stablecoins at $158.5 billion—a new all-time high—granting the network a dominant 57% share of the market.
Ethereum continues to dominate as the preferred network for stablecoins, with Tron trailing at a 27% market share and Solana in third place with under 4%.
Stablecoin supply on Ethereum surges. Source: Token Terminal
El Salvador Marks Four Years of Bitcoin Adoption with National Celebrations
El Salvador’s Bitcoin Office, the nation’s official agency overseeing cryptocurrency initiatives, commemorated its four-year Bitcoin (BTC) anniversary on Sunday. The milestone marks four years since the Central American country made history by adopting Bitcoin as legal tender and implementing a suite of pro-Bitcoin regulations in September 2021.
The Bitcoin Office emphasized El Salvador’s pioneering role as the first country worldwide to establish a strategic Bitcoin reserve, now holding more than 6,313 BTC valued at over $702 million. The agency also spotlighted its ongoing public education initiatives, promoting both Bitcoin and artificial intelligence across the nation.
Total Bitcoin in El Salvador’s national Bitcoin reserve. Source: El Salvador Bitcoin Office
However, El Salvador has since repealed its Bitcoin legal tender law and reduced government involvement in the cryptocurrency sector, raising questions about the overall success and sustainability of the country’s ambitious Bitcoin experiment.
