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Stepn x Adidas Genesis Sneakers: A New Era in Fitness

The Stepn x Adidas Genesis Sneakers Collection: A Revolutionary Partnership The fusion of the digital and physical worlds is more than a trend; it is a burgeoning reality. The recent collaboration between Stepn and Adidas exemplifies this transformative shift. With the launch of the Genesis Sneakers collection, both companies are poised to redefine the boundaries of fitness, fashion, and technology in lifestyle rewards. This partnership is not only groundbreaking but also sets the stage for future innovations in the ever-evolving landscape of fitness applications and digital assets. A New Era of Phygital Experiences Stepn, a pioneering move-to-earn FitTech app, has taken a bold leap by teaming up with a global powerhouse like Adidas. This collaboration signifies a pivotal moment in the fitness and lifestyle sector, as highlighted by Stepn CEO Shiti Manghani: Phygital Partnership : The merging of physical and digital assets marks a new direction for lifestyle rewards. Enhanced...
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Produced by Daniel Aharonoff & Mogul Media AI

Bitcoin ETF Contenders Race to Clear Final Hurdle for Approval

Bitcoin ETF contenders are facing a crucial deadline today as they have the opportunity to file any last-minute changes to their applications. This step is seen as the final hurdle for approval, and it involves the inclusion of authorized participant agreements. The authorized participant plays a crucial role in the creation and redemption of shares in an ETF, allowing investors to cash out. After months of negotiations between asset fund managers and the SEC, this stage is anticipated to be the final part of the application process.

According to Reuters, the SEC set a deadline of December 29 for Bitcoin ETF contenders to submit any amendments to their applications. In recent weeks, top contenders such as BlackRock and ARK Invest, led by Cathie Wood, have filed various amendments. Two key details have emerged from these filings. Firstly, the SEC appears to be requiring that Bitcoin ETFs follow a cash model, meaning that new funds must be created with cash instead of Bitcoin. Secondly, the SEC is insisting on authorized participant agreements being in place.

Failure to include both of these provisions in the amendment by today may result in the exclusion of the applicant from the Bitcoin ETF race, as explained by Bloomberg Senior ETF analyst Eric Balchunas. In a post on X (formerly Twitter) on Friday, Balchunas mentioned that he expects some authorized participants to be named today, although it is more likely that this will occur just days before the launch of a Bitcoin ETF. Notably, ARK Invest and 21 Shares submitted an amendment yesterday that included mention of authorized participant agreements, but the authorized participant was not named.

Experts in the field anticipate the approval of a spot Bitcoin ETF in the new year. Bloomberg Intelligence analysts have stated that there is a 90% chance that a Bitcoin ETF will begin trading by January 10. An ETF is an investment vehicle that tracks the value of an underlying asset, such as gold, foreign currencies, or Bitcoin. In the case of a spot Bitcoin ETF, it allows individuals to gain exposure to the digital coin by purchasing shares that mirror its price.

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