Crypto firms launch Wall Street-style funds: Finance Redefined
Cryptocurrency firms and centralized exchanges are increasingly offering traditional investment products, merging traditional finance (TradFi) with digital assets. Gracy Chen, CEO of Bitget, noted a growing synergy between the two sectors as investors seek flexible offerings. Securitize and Mantle launched an institutional fund, the Mantle Index Four (MI4) Fund, to generate yield on a diverse cryptocurrency basket, akin to traditional index funds. Investor sentiment in crypto improved from "fear" to "neutral," influenced by US tariff discussions. Mantra's CEO initiated the process to burn 150 million OM tokens to restore value and build community trust. Symbiotic raised $29 million for a staking-based economic coordination layer to enhance blockchain security. The SEC delayed its decision on a Polkadot ETF until June 11, amid numerous pending ETF proposals. Most top cryptocurrencies saw gains, with the Official Trump token rising over 73% following a special event announcement.
