Autor Cointelegraph by Nate Kostar

Anchorage Digital launched a settlement platform that allows institutions to trade on crypto venues while keeping assets in custody at its federally regulated bank, which it said will help manage counterparty and operational risks.According to Monday’s announcement from the company, Coordinated Multiparty Settlement (CMS) connects trading venues, prime brokers and institutional clients through a shared settlement layer while keeping assets at Anchorage Digital Bank throughout the trade lifecycle.Anchorage said CMS verifies funding obligations and coordinates settlement across participants, reducing the number of asset transfers needed to complete trades. The company said the system is designed to reduce the need for pre-funded exchange accounts, a common practice in crypto markets.In a Monday X post, Anchorage said much of crypto trading still takes place on offshore platforms where “a single platform acts as exchange, custodian, and settlement agent” and client assets are often commingled and titled to the exchange.Source: Anchorage Digital on X.comUnder the CMS model, prime brokers manage client balances and credit relationships, trading venues act as matching engines and Anchorage provides custody and settlement services.The rollout will begin with foreign exchange trading platform Spotex, which Anchorage said processes billions of dollars in daily volume, with additional venue integrations under development.Related: Anchorage Digital, Mexico’s Grupo Salinas partner on stablecoin cross-border settlementInstitutional trading infrastructure continues to evolveFinancial institutions and digital asset companies are fast expanding infrastructure for tokenized assets and institutional trading, with the Canton Network emerging as one focal point for those efforts as firms explore blockchain-based settlement.  In December, DTCC partnered with Digital Asset and the Canton Network to support the tokenization of DTC-custodied US Treasury securities, with plans to expand the initiative to additional asset classes. Two months later, Fireblocks integrated the network, enabling banks, custodians and asset managers to custody and settle assets on a blockchain built for regulated financial markets. Banks are also investing in digital asset custody and market infrastructure. In May, Standard Chartered agreed to acquire Zodia Custody while spinning out Zodia Solutions, a standalone platform serving institutional digital asset clients. The transaction consolidates the bank’s custody operations while creating a separate company focused on services for financial institutions.Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves

Coinbase Financial Markets has begun offering US institutional clients access to global crypto options and perpetual futures markets through a regulated futures commission merchant, including connectivity to Deribit’s crypto options platform.Coinbase said the launch follows guidance from the Commodity Futures Trading Commission (CFTC) that allows a regulated futures commission merchant to connect US clients with global crypto derivatives liquidity. The company said Coinbase Financial Markets is the first CFTC-regulated futures commission merchant to offer such access.Deribit, which Coinbase acquired in August 2025 as part of its expansion into crypto derivatives, is the largest crypto options exchange by open interest. CoinGlass data shows Deribit held roughly $31 billion in Bitcoin options open interest on May 27, compared with $2.7 billion on OKX, $1.8 billion on Binance and $1.2 billion on Bybit.Bitcoin options open interest. Source: CoinGlassAccording to Friday’s announcement, institutional clients can begin onboarding immediately, while broader access, including retail, is expected to follow later.Related: Coinbase CEO’s finance wishlist mirrors company’s product roadmapCrypto derivatives move deeper into regulated US markets The launch comes months after the US Securities and Exchange Commission and CFTC said they would explore ways to bring perpetual futures trading onshore. In a joint statement published in September 2025, the agencies said perpetual contracts had been largely confined to offshore crypto markets due to regulatory and jurisdictional constraints.The agencies added that they could consider steps to “onshore perpetual contracts” and bring activity “now flowing exclusively to foreign platforms” back to regulated US markets.Source: SEC/CFTCSince then, US derivatives venues have steadily expanded their crypto offerings. Earlier this month, CME Group announced plans to launch a crypto index futures contract tracking a basket of seven cryptocurrencies, including Bitcoin (BTC), Ether (ETG), Solana (SOL) and XRP (XRP).The announcement came days after Chicago-based CME unveiled Bitcoin Volatility futures, a regulated crypto derivatives product scheduled to launch on June 1. The futures will settle to a 30-day measure of expected Bitcoin volatility derived from CME options markets.Other US crypto exchanges have also been expanding their derivatives businesses. In May, Kraken parent Payward completed its acquisition of Bitnomial, a CFTC-regulated derivatives platform that earlier this year launched the first US-regulated futures contracts tied to Injective’s INJ (INJ) token, following a similar launch for Aptos (APT) in January.On Friday, CFTC staff issued guidance on 24/7 trading, clearing and settlement, saying crypto asset derivatives may be particularly well suited to round-the-clock markets.Magazine: HYPE chases $100 target, ETH could dump below $1800: Market Moves

Bit Digital purchased $20 million worth of Ether earlier this month, increasing its holdings to roughly 158,462 ETH. The Nasdaq-listed company said Thursday it acquired 8,568 ETH (ETH) on May 11 at an average price of $2,334.25 per token.CEO Sam Tabar said the purchase reduced Bit Digital’s average ETH acquisition cost and was part of the company’s strategy to grow net asset value per share through Ethereum accumulation, AI infrastructure and acquisitions.Bit Digital operates across Ethereum treasury management, AI and high-performance computing infrastructure and strategic acquisitions. Its WhiteFiber subsidiary trades on Nasdaq under the ticker WYFI.Top 5 Ethereum treasury companies. Source: CoinGeckoBased on CoinGecko data, Bit Digital’s previously reported holdings of roughly 140,008 ETH placed it behind Coinbase Global, which held about 151,175 ETH. The company’s newly announced purchase would move its treasury above Coinbase’s holdings, making Bit Digital the fourth-largest public corporate Ethereum holder.The company’s shares closed Wednesday at $2.03, while the stock was up roughly 35.5% over the past month, according to Yahoo Finance data.Source: Yahoo FinanceRelated: Ethereum under $2K: ETH whales sell as retail remains bullishEthereum fundamentals remain strong despite price weaknessThe purchase comes as some analysts argue Ethereum’s network activity remains significantly stronger than its market performance. In a Thursday report, Standard Chartered said Ethereum transaction activity and total value locked remain near record levels despite ETH trading more than 50% below its 2025 highs.StanChart’s global head of digital assets research, Geoff Kendrick, reiterated his ETH price targets of $4,000 by the end of 2026 and $40,000 by 2030, arguing the gap between Ethereum’s network usage and token price could narrow as stablecoin and tokenization activity continues expanding on the blockchain.The bullish outlook comes as some public companies continue expanding Ethereum treasury strategies. On Tuesday, Bitmine Immersion Technologies said it purchased another 111,942 Ether, its largest purchase of the year.Chairman Tom Lee said that Ethereum could benefit from a crypto “supercycle” driven by tokenization and AI-powered agents. According to CoinGecko data, BitMine Immersion currently ranks as the largest public Ethereum treasury holder, with more than 5.39 million ETH.The optimism contrasts with comments this week from Bankless co-founder David Hoffman, who said he sold the remainder of his ETH holdings after concluding the “ETH is Money” investment thesis had largely “played out. Hoffman said Ethereum’s network may continue growing through stablecoins, tokenization and layer-2 activity, but only a limited share of that growth ultimately accrues to ETH itself.ETH was trading around $2,013 at the time of writing, down roughly 32% year-to-date and nearly 60% below its August 2025 all-time high near $4,946, according to CoinGecko data.Source: CoinGeckoMagazine: Big Questions: Do we really only need 2–5 cryptocurrencies

VanEck launched the first US spot BNB exchange-traded fund on Thursday, giving investors regulated exposure to the Binance-linked cryptocurrency through traditional brokerage accounts.The ETF, trading under the ticker VBNB, is physically backed by BNB (BNB) held in cold storage with a qualified custodian, according to the announcement. BNB is the native token of BNB Chain and is used to pay transaction fees across the network.According to VanEck, the fund is designed to track the spot price of BNB and may later incorporate staking if the issuer determines it can do so without regulatory or legal complications.VanEck described BNB Chain as one of the largest blockchain networks by daily active users and transaction activity, citing more than $16 billion in stablecoin supply and roughly $3.6 billion in tokenized real-world assets on the network.Data from CoinGecko shows BNB has a market capitalization of roughly $85.5 billion, ranking it among the five largest cryptocurrencies globally. The token was last trading near $633, with daily trading volume approaching $874 million.Source: CoinGeckoRelated: BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75KCrypto ETF issuers push deeper into altcoins and complex strategiesThe introduction of VBNB comes as asset managers roll out crypto exchange-traded products tied to alternative blockchain networks, staking strategies and actively managed digital asset portfolios.VanEck in January launched the first US-listed spot Avalanche ETF under the ticker VAVX, offering exchange-traded exposure to the AVAX (AVAX) token and potential staking-based yield. In April, crypto exchange Bitnomial launched the first US-regulated futures contracts tied to Injective’s INJ (INJ) token.Source: 21SharesThe trend picked up pace this month with the launch of the first US Hyperliquid ETFs. On May 12, 21Shares debuted the THYP fund, followed two days later by Bitwise’s competing BHYP product.While the Hyperliquid ETFs initially posted modest inflows, trading activity later accelerated, with the two funds recording nearly $41 million in combined trading volume and a 50% jump in activity just days after launch, according to SoSoValue data.Beyond spot ETFs tied to altcoins, issuers have also increasingly moved into actively managed crypto funds. In recent months, firms including Goldman Sachs and Canada’s Hamilton ETFs have listed or filed applications tied to active Bitcoin (BTC) income strategies, crypto derivatives and yield-focused digital asset portfolios.Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies?

Tokenized commodities platform Streamex said it is launching a Solana-based marketplace for trading tokenized assets in partnership with Orca, a decentralized exchange built on Solana.According to a Tuesday announcement, the trading infrastructure will allow verified accredited investors to buy and sell Streamex’s yield-bearing, gold-backed GLDY token through regulated onchain trading pools operating around the clock. The system uses identity and compliance checks tied to Streamex’s KYC and accreditation process to restrict trading access to approved investors while enabling secondary market liquidity for regulated digital assets.The companies said neither Streamex nor Orca will act as brokers or intermediaries for investors seeking to resell the GLDY token.Trading takes place through permissioned liquidity pools built on Orca, where investor wallets remain frozen until users complete identity verification and accreditation checks. Investor eligibility data is also updated onchain in real time to ensure only approved participants can access the market.Orca said its automated market maker infrastructure has processed more than $500 billion in cumulative trading volume since launch. The companies said the GLDY trading pool could serve as a model for other tokenized assets tied to stocks, bonds, real estate and commodities.Related: Tokenized RWA market grows 420% since 2025 on regulatory clarity, accessExchanges race to build tokenized trading railsThe launch comes amid a broader push to build regulated trading infrastructure for tokenized stocks, funds and other traditional financial assets.Earlier this month, the US Securities and Exchange Commission approved Nasdaq’s pilot proposal to allow tokenized stocks and exchange-traded funds to trade alongside their traditional counterparts on the same exchange.Under the proposal, tokenized securities would share the same order books, ticker symbols and shareholder rights as conventional shares. Participation in the pilot is initially limited to eligible participants and securities tied to the Russell 1000 index and some of the biggest exchange-traded funds.Other exchanges and tokenization companies are also expanding blockchain-based market infrastructure. In March, the New York Stock Exchange signed an agreement with Securitize to develop infrastructure for tokenized stocks and ETFs tied to Intercontinental Exchange’s planned digital trading platform.Centrifuge, a tokenization platform focused on real-world assets, recently said it plans to bring tokenized Treasurys, private credit and AAA-rated collateralized loan obligation products to the Monad blockchain for use in lending, collateral and secondary market activity.Data from RWA.xyz shows the tokenized real-world asset market has grown to roughly $34 billion, with Treasury and commodity-backed products representing some of the largest segments.Source: RWA.xyz Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves