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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

Fidelity's Bitcoin Fund Approval: A Step Closer to Bitcoin ETF Listing

The Fidelity Wise Origin Bitcoin Fund has received approval to be listed on the CBOE exchange, as per a recent SEC filing. While this is not an approval from the Securities and Exchange Commission (SEC) for a Bitcoin ETF, it does indicate progress in the space. The SEC still has a week to decide whether to approve, reject, or delay the decision on Fidelity's spot Bitcoin ETF offering.

The concept of a Bitcoin ETF has been eagerly awaited by the crypto market for the past decade. Such an ETF would allow traditional investors to gain exposure to Bitcoin without the need to directly purchase and store the digital asset. This would eliminate the complexities of navigating cryptocurrency exchanges and wallets. Consequently, analysts predict a potential influx of Wall Street capital into the crypto market if an ETF is approved.

However, the SEC has historically been hesitant to approve Bitcoin ETF applications, citing concerns about market manipulation in the crypto space. Numerous applicants have faced rejections from the SEC over the past 10 years. The entry of traditional financial heavyweights like Fidelity and BlackRock into the Bitcoin ETF space has influenced the regulatory landscape.

With the SEC's deadline for decision-making set for January 10, experts at Bloomberg Intelligence anticipate that an announcement will be made between January 8 and January 10. In the meantime, the news of Fidelity's listing approval is seen as a positive sign. On the day of the announcement, the market experienced a brief downturn in response to speculation of potential rejections, but Bitcoin has since recovered slightly. At the time of writing, Bitcoin is trading at $42,595.05, representing a 5.7% decrease from the previous day.

The listing details of the Fidelity Wise Origin Bitcoin Fund were disclosed in the asset manager's Form 8-A12B, which pertains to the registration for listing a security on a national exchange. While this development does not guarantee the approval of a Bitcoin ETF, it does signify progress in the regulatory landscape and hints at potential future opportunities for investors.

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