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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Happy 21st crypto ETF filed for 2021 with Kryptoin’s ‘Ethereum ETF Trust’

The Kryptoin Ethereum ETF Trust plans to issue its common shares on the Chicago Board Options Exchange’s (Cboe) BZX, and will value them based on the CF Ether-Dollar U.S. settlement price.

Delaware-based Kryptoin Investment Advisors has joined a score of other crypto ETF hopefuls by filing for an Ethereum exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).

The crypto investment firm previously tried and failed to get a Bitcoin ETF greenlit back in 2019. The firm came back with another attempt this April, filing for a Bitcoin ETF that was set for a verdict by July 27 but is still under review by the SEC.

According to an Aug. 12 filing, the “Kryptoin Ethereum ETF Trust” plans to issue its common shares on the Chicago Board Options Exchange’s (Cboe) BZX Exchange under a ticker that will be announced before the commencement of trading.

The ETF will hold Ethereum (ETH) via custodian Gemini Trust Company, LLC and will value its shares daily as determined by the CF Ether-Dollar U.S. settlement price, which is an “independently calculated value based on an aggregation of executed trade flow of major ETH spot exchanges.”

“The Trust’s investment objective is to provide exposure to Ethereum at a price that is reflective of the actual Ethereum market where investors can purchase and sell Ethereum, less the expenses of the Trust’s operations,” the filing read.

The ETF will not buy or sell ETH directly. When it sells or redeems its shares, it will do so in baskets of 100,000 shares at the Trust’s net asset value (NAV).

Kryptoin joins asset manager VanEck and New York-based Wisdom Tree investments in filing for an ETF that offers ETH exposure in 2021. According to Bloomberg ETF Research Analyst James Seyffart, there have been a total of 21 crypto ETF applications this year.

Related: VanEck takes a new approach with SEC, files for Bitcoin Strategy ETF

Eric Balchunas, senior ETF analyst at Bloomberg noted on Twitter that as Kryptoin filed for a spot Ether ETF under the 1933 securities act, it may be a while before a verdict is delivered.

SEC Chairman Gary Gensler suggested earlier this month that he may be open to approving ETFs exposed to regulated futures contracts under the Investment Company Act of 1940.

“When combined with the other federal securities laws, the ’40 Act provides significant investor protections,” he said.

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