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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

Unveiling the Potential Impact of SEC Approval on Spot Bitcoin ETF Applications

Today marks the pivotal day when the U.S. Securities and Exchange Commission (SEC) is set to make a decision on at least one of the 11 pending spot Bitcoin ETF applications within its own deadline. Bloomberg Intelligence analyst Eric Balchunas anticipates formal approvals to potentially occur around 4-6pm today, coinciding with the upcoming Derby on Thursday. If funds are indeed approved today, they could become available as early as market opening on Thursday, January 11. This event has been aptly named the "Cointucky Derby" by ETF analysts, highlighting the industry's decade-long anticipation for a spot Bitcoin ETF approval in the U.S. while such products have been tradable in other parts of the world. Noteworthy contenders in the race include BlackRock, Fidelity, WisdomTree, and Grayscale, all of whom have been actively amending their S-1 registrations this week to address SEC feedback.

Amendments and Fee Adjustments:

  • BlackRock and ARK Invest have recently revised their fees for their funds, with BlackRock now charging a 0.25% fee on its fund and an introductory fee of 0.12% on the first $5 billion of assets under management for a year.
  • ARK 21Shares has adjusted its fee to 0.21% and has committed to waiving ETF fees until the fund amasses $1 billion in assets or for the initial six months, whichever milestone is reached first.

SEC Decision and Market Dynamics:

  • SEC regulations permit the agency to delay decisions for up to 240 days post-application receipt. However, for the ARK 21Shares Bitcoin ETF, the SEC is now compelled to either approve or deny the application, having exhausted its delay period.
  • Notably, the market experienced a significant fake-out movement yesterday, underscoring the volatility and anticipation surrounding the pending SEC decision.

As the industry eagerly awaits the SEC's verdict on the spot Bitcoin ETF applications, market participants are poised for potential shifts in market dynamics and investment opportunities that could arise from the approval of these long-awaited financial products.

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