**Market Highlights**
The Securities and Exchange Commission (SEC) announced changes to streamline the approval process for crypto ETFs, aiming to slash timelines down to a mere 75 days. This move includes eliminating the need for form 19b-4 in certain cases.
The SEC also made progress on spot crypto ETF approvals, granting Grayscale’s Large Cap Fund and Cboe Bitcoin ETF options. Meanwhile, Michigan’s HB 4087, a bill allowing up to 10% of state treasury reserves in bitcoin, is advancing towards its second reading.
**Market Developments**
**Funding:** Grvt secured $19 million in funding from ZKsync and other investors to further develop a privacy-focused decentralized exchange (DEX) utilizing zero-knowledge proofs.
**Investment & Growth:** Brera Holdings, now Solmate, raised $300 million to establish its own Solana treasury. This investment was supported by ARK Invest and others, leading to a 14% surge in Solmate’s stock price.
**Strategic Investment:** Nvidia announced a significant investment of $5 billion in Intel, with the aim of developing AI-driven data centers and PCs. The deal boosted Intel’s share price by 24%, positively impacting companies like NEAR, TAO, and FET which focus on AI-powered crypto technologies.
**Stay tuned for more updates.**