Here’s a quick recap of the crypto landscape for Monday (July 7) as of 9:00 am UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin and Ethereum price update
Bitcoin (BTC) is priced at US$108,960, trading flat in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$108,077 and a high of US$109,574.
Ethereum (ETH) is priced at US$2,581.84, up by 1.8 percent over the past 24 hours. Its lowest valuation as of Monday was US$2,513.50 and its highest was US$2,598.09.
Altcoin price update
SEC’s crypto ETF guidance signals mainstream shift
The US Securities and Exchange Commission took a major step toward regulating crypto exchange-traded products with its first formal guidance on crypto ETP disclosures, according to a Reuters analysis.
Issued last week, the 12-page document clarifies how issuers should describe risks and custody arrangements in “plain English,” which could speed up approval of dozens of new crypto ETFs tied to Solana, XRP, and even Trump’s meme coin.
The SEC is also developing a more standardized listing rule to replace the case-by-case exemptions that currently delay launches. That change could shrink approval timelines from 240 days to as little as 75.
Insiders expect the next round of SEC guidance, potentially out by autumn, to fully reshape how crypto funds come to market.
Musk’s America Party goes all-in on Bitcoin, calls fiat ‘hopeless’
Elon Musk confirmed that his newly formed America Party will officially embrace Bitcoin after declaring that “fiat is hopeless” in a post on X.
The move follows Musk’s earlier hints at increasing his own Bitcoin exposure and praising Bitcoin as a hedge against traditional currency.
Musk previously supported Donald Trump’s reelection campaign and even headed the Department of Government Efficiency before splitting with Trump over his budget bill, leading to the creation of the America Party.
The shift could inject more digital asset discussions into US politics as Musk tries to build a third-party movement.
Despite hype from Dogecoin supporters, no plans for DOGE adoption were announced.
Metaplanet boosts Bitcoin stash past 15,500 BTC in aggressive buying spree
Japan’s Metaplanet disclosed this week that it purchased another 2,205 BTC at an average price of 15.64 million yen per coin, spending around US$213 million.
This purchase brings the firm’s total bitcoin holdings to 15,555 BTC, making Metaplanet one of the world’s largest corporate holders of the asset.
The company tracks a proprietary metric called BTC Yield, measuring the effect of share dilution on per-share bitcoin value.
For the second quarter, Metaplanet reported a BTC Yield of 95.6 percent, down from 309.8 percent the previous quarter, but still strong enough to highlight aggressive growth.
Metaplanet’s total BTC investment now tops US$1.38 billion.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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