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BlackRock files for approval to create the iShares Bitcoin Trust.
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Deutsche Bank has applied for a new crypto custody license in Germany.
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AltSignals raised more than $1 million through its token sale
Major financial firms are moving into cryptocurrencies even as the Securities and Exchange Commission (SEC) and other regulators pursue enforcement actions against leading industry players. That regulatory pressure helps explain why many cryptocurrencies have staged a strong recovery in recent days. Bitcoin is approaching $29,000 while Ethereum has climbed to around $1,830. Meanwhile, AltSignals has raised over $1 million from investors.
BlackRock and Deutsche Bank Pursue Crypto Ambitions
The biggest crypto story this month was the SEC’s decision to sue Coinbase and Binance, the two largest exchanges in the market. The agency brought multiple allegations, including offering unregistered securities and commingling customer funds.
Those lawsuits could have far-reaching consequences. If the SEC prevails against Coinbase, for example, the company might be forced to stop offering staking products. Developers of staking services could then be required to obtain a license from the regulator before providing those products.
At the same time, signs are growing that major institutional players are doubling down on crypto. BlackRock, for instance, has filed for the iShares Bitcoin Trust. If approved, this would become the first spot Bitcoin ETF issued by a major asset manager in the U.S.
A spot Bitcoin ETF would let investors gain exposure to Bitcoin without owning the coin directly. It would also provide a route to hold Bitcoin through regulated financial products rather than relying on centralized exchanges like Coinbase or Binance.
It remains uncertain whether the SEC will approve a spot ETF; the agency has rejected similar proposals in the past. BlackRock’s application, however, includes measures intended to reduce the risk of price manipulation, which could influence the regulator’s decision.
Another notable development was the launch of EDX Markets, a non-custodial exchange backed by Wall Street firms such as Schwab, Fidelity and Citadel Securities. That backing is significant: these firms play major roles in U.S. markets, with Citadel among the largest market makers.
Separately, Deutsche Bank confirmed it has applied to BaFin for a crypto custody license. The bank aims to offer crypto banking services to high-net-worth clients in Germany. Approval would represent a positive signal for institutional adoption and for the broader market.
AltSignals Token Sale Raises Over $1 Million
Fintech firm AltSignals, which provides trading signals, has raised more than $1 million through a token sale. The ASI token is being sold in the first phase at $0.015 per token, and the team expects to increase the price by about 25% in the next phase.
AltSignals intends to use artificial intelligence (AI) techniques to deliver improved trading signals to its users. The funds raised will support further development of the project and help advance its technical roadmap.
The company plans to become fully decentralized over time, enabling ASI token holders to participate in governance and vote on key platform decisions.
There are three reasons AltSignals appeals to some investors. First, the token’s low initial price makes it an affordable speculative option. Second, the company reports profitability even before wide-scale AI integration. Third, the platform targets a market worth billions of dollars and aims to introduce technology-driven efficiencies to trading signals and market insights.