Ripple has navigated a challenging path following its long-standing dispute with the U.S. Securities and Exchange Commission (SEC), making significant strides to attract attention on Wall Street. Recently, Ripple secured a landmark $40 billion valuation, showcasing its ability to garner trust from major investors despite past legal struggles.
This week’s Crypto Biz discusses how Ripple’s valuation was achieved, alongside valuable insights for XRP investors. Furthermore, notable developments in the market include WisdomTree’s introduction of a new tokenized options-income strategy fund, Bitwise’s crypto index fund listing on NYSE Arca, and the public launch of Twenty One Capital, led by CEO Jack Mallers.
Ripple’s Valuation Strategy
In November, Ripple raised $500 million while securing a $40 billion valuation. Key investors included Citadel Securities, Fortress Investment Group, and other renowned firms such as Brevan Howard and Pantera Capital. According to reports from Bloomberg, Ripple attracted these investments by providing buyers with considerable downside protection, allowing them to sell back shares at a guaranteed annualized return.
WisdomTree’s New Fund Initiative
Asset management firm WisdomTree is taking steps to innovate the options market by launching a tokenized fund identified as the WisdomTree Equity Premium Income Digital Fund. This initiative, aimed at leveraging blockchain technology, offers investors a cutting-edge method of engaging with options trading.
Bitwise Launches on Major Exchange
On December 10, Bitwise’s 10 Crypto Index Fund began its transition to NYSE Arca, expanding its reach and possibly attracting more institutional investors.
Twenty One Capital’s Strong Market Entry
Twenty One Capital, a company focused on Bitcoin treasuries, has successfully initiated trading on NYSE after merging with Cantor Equity Partners. The company holds over 43,000 BTC valued at approximately $4 billion. As CEO Jack Mallers stated, “Bitcoin is honest money, which resonates with investors.”
Crypto Biz serves as your weekly digest, detailing developments in blockchain and cryptocurrency, delivered each Thursday.
