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SEC chair outlines main directions of regulatory work ahead
NFT Gaming

SEC chair outlines main directions of regulatory work ahead

by admin September 28, 2025



U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins recently told Fox Business that the agency will pursue crypto rulemaking and seek an innovation exemption to maintain the U.S.’s leadership in digital finance.

Summary

  • In an interview with Maria Bartiromo, Paul Atkins clarified that the SEC is preparing an innovation exemption for the end of 2025.
  • The exemption is designed to allow crypto companies to launch their products without fear of restrictive securities laws being applied to them.
  • Atkins noted that the SEC and the CFTC are working closely together to provide the marketplace with a stable platform for introducing new products.

Atkins told anchor Maria Bartiromo on Sept. 23 that the SEC is working closely with the Commodity Futures Trading Commission to determine the distribution of responsibility between the agencies and bring certainty to the market structure. 

Some projects (like single stock futures) were “torpedoed” only because of the uncertainty in whether they should have been supervised by the SEC or the CFTC.

He stated that both agencies will focus on rulemaking in the coming months and aim to establish an innovation exemption by year-end. The SEC chair said that it is not an ad hoc approach:

“We’re trying to give the marketplace some kind of stable platform upon which they can introduce their products,” he said.

The exemption aims to enable crypto businesses to launch their products immediately, thereby avoiding the early bureaucratic and regulatory burdens that typically hinder projects.

Atkins compared to Gensler

During the DeFi and American Spirit roundtable in June, Atkins explained the need for the conditional exemption relief framework in order to encourage developers.

Meanwhile, the SEC is working on new rules that Atkins argues will replace outdated securities laws applied to the crypto space.

The previous SEC chairman, Gary Gensler, treated various cryptocurrencies as unregistered securities. Still, many of the sector’s U.S.-based brands thrived, including Coinbase, Strategy, Robinhood, Ripple, and Circle. 

However, many crypto pros insist that Gensler’s cautious approach to the emerging industry left the U.S. behind Europe and the UK in terms of access to cryptocurrency markets and services. For example, Coinbase’s staking service is not available in five states. 

For years, Americans have faced challenges in participating in airdrops, buying spot ETFs, perpetual futures, and tokenized securities, as well as accessing the largest crypto exchanges, among other issues. That’s not the scenario in the UK and Europe. Estonia, one of the countries that pioneered nation-level blockchain adoption, offered tokenized securities back in 2019.

‘Make IPOs great again’

As for the plans not directly associated with crypto, Atkins said that he wants to “make IPOs great again.” He stressed that ordinary investors need to diversify their portfolios, but it’s not an easy task in the current circumstances.

According to the SEC chair, the number of public companies has shrunk by 50% in the last 30 years. He explained that going public became too burdensome in terms of regulation, compliance, reporting, and other requirements. That’s why not many companies are seeking to become public.

The fact that the top public corporations are all tech companies increases risks. So, Atkins sees the solution in streamlining and safeguarding ordinary investors’ access to private funds.

In general, Atkins’s appearance on Bartiromo’s “Mornings with Maria” indicated the SEC chair’s effort to allow U.S. crypto companies to self-regulate and provide retail investors with a broader set of investment options. 



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September 28, 2025 0 comments
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A whale leaps out of the sea.
NFT Gaming

The Main Driver Behind BTC’s Break From Global M2, According to Raoul Pal

by admin September 25, 2025



Raoul Pal, founder of Global Macro Investor, has drawn attention to a widely circulated chart that compares bitcoin’s (BTC) movements with global M2 money supply.

The chart shows that since early 2023, bitcoin has tended to track global M2 money supply with a consistent 12-week lag, implying that changes in liquidity conditions filter through to crypto markets with a three-month delay.

Based on that model, bitcoin would still be on track to approach $200,000 by the end of 2025 if the correlation were to hold.

However, since July 16, this relationship has broken down. While global M2 has continued to trend higher, reflecting ongoing monetary expansion globally, bitcoin has stalled, moving sideways through the summer despite its historically tight connection to liquidity.

TGA refill plays spoilsport

Pal argues that the break is not a failure of the model but rather the result of actions by the U.S. Treasury through its Treasury General Account (TGA). The TGA is the government’s operating account at the Federal Reserve, used to receive taxes, bond sale proceeds, and other inflows while also funding federal expenditures.

When the Treasury seeks to rebuild this account by issuing more bonds than needed to cover immediate obligations, it effectively drains liquidity from the system, reducing the pool of capital available to risk assets. According to Pal, since July, the Treasury has issued about $500 billion in bonds to replenish the TGA, pushing its balance near $800 billion, a multi-year high.

This large-scale withdrawal of cash has hit liquidity-sensitive assets like crypto the hardest, explaining bitcoin’s sideways action despite rising M2.

Importantly, Pal believes the TGA is now sufficiently replenished, meaning the liquidity drain is likely over and should fade completely by the end of the month. If that happens, liquidity conditions will normalize, and bitcoin’s braoder rally could resume following its M2-driven trajectory upward.

However, to counter Pal’s argument, it is worth noting that tech stocks and gold have continued to set new all-time highs, suggesting that broader risk appetite remains intact.

While the TGA replenishment may have weighed heavily on crypto, the sharper impact could also reflect heavy selling pressure from long-held coins, which helps explain the deviation between bitcoin and global M2.



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September 25, 2025 0 comments
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A phone on a green and purple background showing the Spotify Lossless mode
Gaming Gear

Spotify Lossless is officially on the way: these are the 5 main things you need to know

by admin September 13, 2025



Now that Spotify Lossless is coming, us loyal subscribers can sit back and relax after what feels like an eternity since it was first announced. The announcement has raised a number of questions about Spotify’s biggest upgrade yet, and we’re here to answer them for you.

It’s exciting to finally be able to listen to music on Spotify without it sounding like it’s being played through a cloth, but there are some key things to note before you enable lossless audio. From when it will be available to the nitty gritty technical details, here are five points to bear in mind when it comes to Spotify Lossless.

1. It’s rolling out now, but not everywhere

(Image credit: Spotify)

In classic Spotify style, Lossless has already started rolling out to Premium users in a handful of regions and will gradually continue to spread to more than 50 countries throughout October, as per Spotify’s initial announcement.


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Premium users in Australia, Austria, Czechia, Denmark, Germany, Japan, New Zealand, the Netherlands, Portugal, Sweden, the US, and the UK have already started to get access. As for its availability outside of these countries, Spotify hasn’t revealed its full list of other regions that will have access to Lossless yet.

2. It’s slightly better than Hi-Res, but doesn’t match competitors

(Image credit: Spotify)

Spotify Lossless allows you to stream songs up to 24-bit/44.1 kHz FLAC, which our audio editor Becky Scarrott says is “actually better than CD-quality” – which is specified as 16-bit/44.1kHz. Spotify has stated that Lossless is available “across nearly every song” in its library.

However, its streaming competitors offer slightly better audio quality. For comparison’s sake, Apple Music (via AAC and ALAC) and Tidal (via AAC, ALAC and FLAC) both offer a maximum bitrate of 24-bit/192KHz lossless audio quality. Both platforms offer this across their entire song catalog.

3. Spotify Lossless works with Spotify Connect

(Image credit: Future)

As well as being available on mobile, tablet and desktop (with the right gear), Spotify Lossless can be used when playing music on devices that support Spotify Connect, such as Sony, Bose, Sennheiser, Samsung, and more. Support for Amazon and Sonos devices will also land next month.

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However, it’s going to take a little more time before Bluetooth devices will be able to support Lossless as many don’t yet support the new generation of codecs that can transmit CD-quality audio, such as aptX Lossless. Spotify shared the following on the matter: “Currently, Bluetooth doesn’t provide enough bandwidth to transmit lossless audio, so the signal has to be compressed before being sent.”

4. You have to enable it yourself

(Image credit: Spotify)

Unlike Apple Music where lossless and hi-res audio is the default, you’ll have to enable Lossless in Spotify’s settings manually. To do this, tap your profile icon in the top left of the Spotify app, and head to Settings and Privacy. From there, select Media Quality, and the Lossless option will appear with other audio streaming options for WiFi, cellular, and downloads.

Instead of setting Lossless as the default, Spotify has kept its other custom Low, Normal, High, and Very High audio quality settings, acknowledging that everyone listens differently.

5. Be weary with how you use it

(Image credit: Future)

It’s great to finally be able to listen with lossless audio in Spotify, but you should note that listening to music with Lossless enabled means it comes with a larger streaming and download size. Listening with Spotify Lossless will use roughly 1GB an hour.

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September 13, 2025 0 comments
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Indiana Jones and the Great Circle: The Order of Giants DLC feels like a brief, cut down version of the main game, but an enjoyable story carries you through
Game Reviews

Indiana Jones and the Great Circle: The Order of Giants DLC feels like a brief, cut down version of the main game, but an enjoyable story carries you through

by admin September 10, 2025


After about ten minutes of running around the Vatican brandishing a biscotti like it was my own holy grail and ultimately angering a fair few fascists in the process (which in turn lead to me heroically fleeing the scene in order to find some kind of weapon – in this case, a crutch – to fight them off) I finally rediscovered my Indiana Jones and the Great Circle sea legs. Several months after finishing the main game, I was now ready to go back for a second helping thanks to its newly-released Order of Giants DLC.

Indiana Jones and the Great Circle: The Order of Giants

The Order of Giants kicks off when Indy opens the ‘A Mystery Begins’ Fieldwork quest and locates Father Ricci in the Great Circle’s Vatican area. The priest, along with his rather endearing parrot companion Pio, speaks of a “Nameless Crusader” believed to be a “giant” of a man who never removed his helmet. This legendary chap appears to have some connection with a secret chamber beneath the Vatican’s Casina and with Indy never being one to shy away from unravelling a good story rooted in history, he agrees to investigate for the duo (because, yes, the parrot is absolutely a team member, and I will not hear otherwise).

Looking further into this nameless and larger-than-life crusader takes Indy under the streets of Rome, as he uncovers a mystery which expands upon the lore of the Great Circle’s Nephilim order. Along with simply discovering more of the order’s story, though, Indy also takes on a number of puzzles and platforming-based excursions in the process. Oh, and of course there are also some skirmishes with yet more fascists as well as a smattering of red-robed cultists. Ooh.


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Before I go too much further, let me say this right off the mark. Order of Giants doesn’t really add much new beyond story and some extra collectables. It feels more like a condensed, Vatican-flavoured microcosm of the full Great Circle game, but with an infusion of Sukhothai’s boat exploration. This DLC really should be considered a general extension to the Great Circle’s core mechanics, rather than something that will suddenly revolutionise what developer MachineGames has done previously. There are two new adventure books, for example (at least that I found), but rather than adding new skills, these books are more about buffs. Of course these are a nice boon – especially I imagine if you have not yet completed the main game – but as said, they don’t hold anything revolutionary that will mix up your Order of Giants experience.

Image credit: Bethesda

Ok, back to it. Now while I really did enjoy the story being told in Order of Giants, in terms of gameplay progress I found it a tad predictable. The platforming sections only really relied on a few small mechanics such as whipping to ledges and pulling on chains to make your way through a predetermined route. Meanwhile, the puzzles themselves were more straightforward than I would have expected from an expansion released several months after the main game, with the likes of directing water through a specific channel, or pulling levers in the order they appeared on nearby images. They lacked a certain amount of creativity.

Then at one moment, probably about halfway through the DLC, I thought I was going to be presented with a mini boss battle. One bit in particular gave me flashbacks to one of my favourite fights against the Great Circle’s blind giant, which was so tense it had me holding my breath (along with Indy). While I wasn’t expecting a carbon copy of that exact moment, I just did not get that same sense of thrill in Order of Giants. Instead, I was soon interrupted by a cutscene that quite literally cut things short. The rest of the DLC then followed a similar formula until the final confrontation (which I will not spoil here, but in terms of story and cinematics, I will say this final showdown did make me gasp with an ‘oh daaaang!’).

Image credit: Bethesda/Eurogamer

Setting aside that disappointment with the action, the storytelling here is still a treat, and is really Order of Giants’ greatest strength. There were several moments during the DLC where I found myself genuinely laughing at the situation Indy had put himself in, with more than just an appreciative titter. I mean, who else could find themself stuck under a car like that and at that exact moment? As an extra optional chapter to the Great Circle’s main game, it was all certainly an enjoyable narrative experience.

I just wish there had been more gameplay variety, and more to explore above ground in Rome itself. Visually, the majority of the Order of Giants grabbed hold of a 50 shades of grey colour card and ran with it, save for some splashes of the labyrinthine underground’s murky greens and browns. Little beams of sunlight from the city above would periodically penetrate through Indy’s subdued surroundings, but when this happened I found myself looking up with a desire to see the fresh blue sky, rather than looking for clues or similar in the immediate and now more illuminated area. I spent a lot of my time during the Order of Giants feeling rather claustrophobic due to being underground and in relative darkness for such an extended period of time.

Speaking of the largely underground setting limitations, while I had so much fun picking up all sorts of makeshift weapons during my playthrough of the Great Circle, there wasn’t the same variety to be found beneath the streets of Rome. Other than a few scepter-like melee items, I mostly made my way through the DLC’s combat sections using just Indy’s whip and fists. This was fine, and at the end of the day an effective enough method, but it didn’t give me the same giddy, silly joy as whopping a baddy over the head with a fly swat. At one point during the Order of Giants, I actually used my gun. I don’t think I ever did that during my playthrough of the main game, because I was having so much fun launching mandolins and mops at my enemies at every opportunity.

Image credit: Bethesda/Eurogamer

As for how long the Order of Giants took me to complete, I would say I was playing for around four and a bit hours in total. I know I didn’t uncover every new artefact there was to find, but I did uncover the majority. In short, the DLC is short. It is certainly not as long as I was expecting, and felt more like an extended and quite straightforward sidequest rather than a full fat standalone expansion with new mechanics and ideas.

It all boils down to this: Indiana Jones and the Great Circle: The Order of Giants is more of Indy doing Indy things. For me as a huge Indiana Jones fan – both of the Great Circle and the franchise more generally – I had a perfectly enjoyable time back with Indy, and appreciated where the story took me. But I wouldn’t go so far as to say Order of Giants is unmissable. Alas, it just didn’t really add anything to my overall experience of the main game – and given that the Great Circle was overflowing with creativity, characters, grand set pieces and so much more, that just feels like a little bit of a shame.



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September 10, 2025 0 comments
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Imavov calls 'next' for Chimaev after routing UFC main event
Esports

Imavov calls ‘next’ for Chimaev after routing UFC main event

by admin September 7, 2025


  • Brett OkamotoSep 6, 2025, 07:04 PM ET

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      Brett Okamoto has reported on mixed martial arts and boxing at ESPN since 2010. He has covered all of the biggest events in combat sports during that time, including in-depth interviews and features with names such as Dana White, Khabib Nurmagomedov, Conor McGregor, Nate Diaz, Floyd Mayweather, Manny Pacquiao and Georges St-Pierre. He was also a producer on the 30 for 30 film: “Chuck and Tito,” which looked back at the careers and rivalry of Chuck Liddell and Tito Ortiz. He lives in Las Vegas, and is an avid, below-average golfer in his spare time.

The UFC’s middleweight division came into sharper focus Saturday when Nassourdine Imavov further cemented himself as a potential title challenger with an impressive five-round decision win over Caio Borralho in Paris.

Fighting in front of his home crowd, Imavov (17-4) earned his fifth consecutive win, with all three judges scoring the 185-pound bout for him via scores of 50-45, 49-46 and 49-46.

The victory could propel Imavov into a championship bid against Khamzat Chimaev. The UFC has another high-profile middleweight matchup scheduled in October between Anthony Hernandez (15-2) and Reinier de Ridder (22-2). That fight could decide Chimaev’s next opponent. Immediately following his win, Imavov said that he had hoped to finish Borralho (17-2) early in the bout Saturday, but adamantly pleaded his case for the next title shot.

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“Considering the circumstances, I’m really happy with my performance,” Imavov said. “On my right foot, a tendon or something like that let go. It was really painful. I would have liked to get the finish, but it is what it is.

“I am next. [Borralho] was unbeaten for 10 years. I just beat him, and beat him with style, as well. I need to be the next one.”

According to UFC Stats, Imavov narrowly outlanded Borralho 100-90 in total strikes, but Imavov’s offense was much cleaner than Borralho’s blows and far more damaging. Imavov beautifully slipped Borralho’s punches and landed counters all evening. Imavov maintained a strong presence in the center of the Octagon, as he cut off Borralho’s exits. Imavov also defended all five of Borralho’s takedown attempts.

It’s the first time Borralho has lost in the UFC, and it marked his first loss overall since 2015.

Nassourdine Imavov, left, handed Caio Borralho his first MMA loss since 2015 and could be the next challenger for middleweight champ Khamzat Chimaev. Photo by Jeff Bottari/Zuffa LLC

“Nassourdine was just the better man today,” Borralho said. “He was very fast, as I was expecting. I couldn’t attack that much. I wanted to make it entertaining for the fans and the UFC, so I tried to strike with one of the best strikers in the world. I think I need to find my adrenaline back. I need some, not motivation, but I was without adrenaline and couldn’t pick it up in this fight.”

It was a disappointing night for The Fighting Nerds, the Brazilian MMA team that has erupted in recent years with viral knockouts and a string of performance bonuses. In addition to Borralho’s loss, lightweight Mauricio Ruffy (12-2) also suffered his first defeat in the UFC. Ruffy, 29, was on the wrong end of a lopsided contest against France’s Benoit Saint Denis, who dominated him on the floor before submitting him with a rear-naked choke in the second round.

French fighters went 5-0 on Saturday’s card.

Veteran light heavyweight Paul Craig (17-10-1), of Scotland, announced his retirement after a TKO loss to Modestas Bukauskas.



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September 7, 2025 0 comments
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mrbeast smiling
Esports

MrBeast’s YouTube Shorts overtake his main videos in total viewership

by admin September 2, 2025



MrBeast’s YouTube Shorts have officially overtaken his long-form videos in total viewership, marking a major shift for the platform’s biggest creator.

Since launching in 2021 to rival TikTok and Instagram Reels, YouTube Shorts have been controversial among fans who prefer longer content and wish that Shorts had just been their own app. But the numbers show just how powerful the format has become.

Creators who haven’t been embracing Shorts may want to sit down for this one, because the content has pulled away on MrBeast’s main channel, generating more views overall than his long-form content.

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MrBeast YouTube Shorts explode and surpass his main uploads

According to MrBeast Statistics, the Shorts uploaded to Jimmy Donaldson’s channel now total 47.3 billion views, slightly more than the 46.6 billion accumulated by his traditional videos as of August 22. That means Shorts now account for more than half of the channel’s overall watch count.

MrBeast’s Main Channel now has more views on it from shorts than it does from longforms!

Totaling up all of the shorts’ views, you get a total of 47.3B – around 50.3% of the main channel’s total view count. pic.twitter.com/YfDQxYXZna

— MrBeast Statistics (@MrBeast_Stats) August 22, 2025

Four of MrBeast’s Shorts have each surpassed one billion views, outpacing his most popular long-form upload: the real-life Squid Game recreation from 2021, which has 871M views.

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📢 📊 MrBeast’s “1 Subscriber = 1 Penny Donated” short has beaten the record for most views on a short in 24 hours, gaining 68,047,973 views.

The short has also gotten him ~1m new subscribers so far! pic.twitter.com/myaiiGj2wN

— MrBeast Insights (@MrBeastInsights) August 30, 2025

Meanwhile, another tracker, MrBeast Insights, reports that his 1 Subscriber = 1 Penny Donated Short set a record for the most views on a YouTube Short in 24 hours, pulling in over 68 million.

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The rise underscores how Shorts are reshaping YouTube. Some creators are even claiming they earn over $9,000 a month from AI-generated Shorts that take less than two hours to make.

For the platform’s top star, the pivot speaks volumes: Shorts aren’t just an experiment anymore, they’re leading the way.





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September 2, 2025 0 comments
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CoinDesk News Image
Crypto Trends

The Three Main Approaches and Their Pros and Cons

by admin August 24, 2025



Ether (ETH) is trading near record highs and bullish forecasts like Tom Lee’s $15,000 year-end target have put a spotlight on how investors can best gain exposure to ETH.

Market Context

According to CoinDesk Data, ether, the second-largest cryptocurrency, is trading at about $4,783 at the time of writing, near its all-time highs, reflecting strong investor demand amid growing institutional adoption.

Tom Lee, head of research at Fundstrat, CIO of Fundstrat Capital and chairman of BitMine Immersion Technologies (BMNR), told CoinDesk last month that ETH could reach $15,000 by the end of 2025. His comments highlight renewed optimism around Ethereum’s growing importance for stablecoins, decentralized finance (DeFi) and real-world asset (RWA) tokenization.

Direct ETH ownership: the purest play

Owning ETH outright is the most straightforward way to participate. Holders gain full control of the asset and direct access to Ethereum’s decentralized finance (DeFi), NFT and staking ecosystems. ETH trades 24/7 across global markets, but investors must manage custody and security — whether through self custody wallets or third party custodians — and contend with evolving regulations. Costs are generally limited to exchange fees and gas.

Spot ETH ETFs: regulated simplicity, with staking proposals pending

Spot ether ETFs have made it possible for traditional investors to gain regulated ETH exposure through brokerage accounts. Some issuers are now seeking permission from the U.S. Securities and Exchange Commission (SEC) to add staking to their products.

If approved, staking would allow funds to earn additional yield by securing Ethereum’s proof-of-stake network and pass that income to shareholders. That would represent a first for U.S. crypto ETFs.

Prominent ETF analyst Nate Geraci said on July 30 that staking-enabled ether ETFs are likely to be “the SEC’s next hit list” before it takes up applications for other spot crypto products.

His point reflects a broader expectation that regulators will scrutinize staking first, since it blends DeFi-native mechanics with traditional fund structures. For investors, that means staking-enabled ETFs could reshape exposure by adding income streams beyond price appreciation — but only if regulators are satisfied that custody, transparency and market manipulation concerns are addressed.

For now, the SEC has acknowledged amendments to allow staking but has not yet granted approval, leaving timing uncertain.

Corporate treasuries: equity exposure with added volatility

Another path is investing in shares of publicly-traded companies that hold ether in their treasuries. BitMine Immersion Technologies, for example, disclosed on Aug. 18 holdings over 1.5 million ETH currently worth around $7.3 billion.

This approach ties shareholder value to ETH price movements and, potentially, corporate staking income. But equity exposure adds new risks:

  • Capital raising risk: Companies need strong share prices to issue new equity for ETH purchases. A weak stock price directly limits their ability to grow treasuries.
  • Double volatility: Even if ETH rises, the company’s stock might fall due to unrelated factors (earnings, sentiment, governance), meaning investors face risks beyond ETH’s price swings.

Comparing the options

Direct ETH

  • Pros: Full control, access to DeFi/NFTs, 24/7 liquidity
  • Cons: Custody and security risks, regulatory uncertainty
  • Best for: Hands on investors comfortable with wallets

Spot ETH ETFs

  • Pros: Regulated, simple brokerage access, potential staking yield (if approved)
  • Cons: Fees, SEC hurdles, no DeFi access
  • Best for: Traditional investors seeking simplicity

Corporate Treasuries

  • Pros: Exposure to ETH plus potential corporate growth/staking returns
  • Cons: Double volatility, dilution risk, governance exposure
  • Best for: Equity investors looking for a hybrid play

Choosing a path

With ETH near record highs and bold forecasts fueling investor interest, the question for 2025 is less about whether to own ether and more about which vehicle best fits each investor’s risk appetite.



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August 24, 2025 0 comments
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