updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131The Securities and Exchange Commission (SEC) delayed decisions on nine crypto exchange-traded fund (ETF) applications on Aug. 18.
The delays extended review periods for products related to digital assets, spanning Bitcoin, XRP, Litecoin, and Dogecoin. The reason is likely the agency’s work to establish a comprehensive digital asset framework.
The postponements affect Truth’s spot Bitcoin and Ethereum ETF, CoinShares’ spot Litecoin ETF, and multiple XRP ETF applications from 21Shares, CoinShares, Bitwise, Canary, and Grayscale.
The SEC also delayed 21Shares’ staking proposal for its spot Ethereum ETF and Grayscale’s spot Dogecoin ETF application.
Except for Truth’s filing, the delayed products all have final deadlines for October.
Bloomberg ETF analysts Eric Balchunas and James Seyffart suggested in July that the delays reflect the SEC’s strategy to establish approval criteria before greenlighting individual applications.
Seyffart stated that this “might be the SEC’s way of stalling these things from becoming ETFs before they develop a digital assets ETF framework.”
He added that the framework would create “some sort of generic listing standard for what digital assets are allowed in an ETF wrapper and what criteria they’ll use.”
The approach mentioned aims to replace the current case-by-case review process, which requires each crypto ETF to secure a Commission order before listing.
The SEC has been reportedly collaborating with US exchanges since July on generic listing standards for token-based ETFs that would eliminate individual rule-change requests.
The proposed system would allow ETF sponsors to bypass the customary Form 19b-4 process when underlying tokens meet predetermined criteria.
Under the proposed framework, sponsors would submit registration statements on Form S-1, observe standard 75-day review periods, and list products once waiting periods conclude.
Market capitalization, on-exchange trading volume, and daily liquidity rank among the metrics under discussion.
Seyffart called the generic standard approach “very good news for the crypto ETF space,” arguing it would offer “clear rules of the road.”
Balchunas described the concept as “what everyone wants, what makes sense, and what we think will happen.”
As a result, the first altcoin-related ETF approvals might likely start only in October.
Tesla is likely to decide on a breakthrough method of die casting multiple sections of its EVs to reduce cost and improve production.
Tesla Inc (NASDAQ: TSLA) has reportedly figured out a technological breakthrough that will transform the process of making electric vehicles. Fine-tuning the process will help Tesla cut production costs considerably. Tesla stock closed 1.75% higher at $276.04 on the news.
Five people familiar with the matter spoke with Reuters anonymously. According to these persons, Tesla is working on this innovation, a way to die cast almost all of the underbody of its vehicles, instead of nearly 400 individual parts. This “gigacasting” process is part of an “unboxed” model CEO Chief Engineer Lars Moravy announced in March, where Tesla factories snap sub-assemblies together. This means that the manufacturing or assembly process of the average Tesla would be considerably less complex, take way less time, and be cheaper. However, many doubt that the model of making sub-assemblies and snapping them together would be difficult for cars of all sizes.
According to some analysts, making and fusing these blocks do not allow for enough manufacturing variables. Nonetheless, most consider the process revolutionary if it works. According to the president of engineering firm Caresoft Global, Terry Woychowski, the Tesla breakthrough would disrupt the automobile design and manufacturing industry if successful. It may then allow Tesla to price an EV under $30,000, much cheaper than the cheapest Model 3 – a little over $40,000. Woychowski said:
“It is an enabler on steroids. It has a huge implication for the industry, but it’s a very challenging task. Castings are very hard to do, especially the bigger and the more complicated.”
According to the people who spoke to Reuters, Tesla could use a single frame in its small EVs by combining the front, middle, and rear sections. If this is functional, Tesla could begin selling cars for $25,000 sometime after 2025. Some of the sources added that Tesla is likely to make a decision on die-casting its cars as one piece before the end of September. However, they noted that the design validation process could change the end product’s design.
Last month, Tesla introduced cheaper variants of its EVs to maintain sales levels as demand fell. The company now has new versions of its Model S sedan and the Model X SUV, however, with shorter driving ranges. The new S model has a maximum of 320 miles, lower than the two existing versions at 395 miles and 405 miles. Furthermore, the new X SUV has a maximum of 269 miles, compared to the existing one with 348 miles.
According to a Morgan Stanley prediction, Tesla is poised for a significant increase in valuation thanks to its Dojo supercomputer. Analysts at Morgan Stanley believe that Dojo, used to train the company’s Full Self-Driving (FSD) System, could add $600 billion to Tesla’s market cap over the next 18 months. Morgan Stanley also increased its TSLA price target to $400, a 60% jump. In response to the upgrade and Morgan Stanley’s prediction that Tesla will sell AI tech to several other auto manufacturers, Tesla’s share price rose by more than 10%. TSLA has climbed more than 11% in the last 5 days and over 28% in one month.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
