Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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Today in crypto: $11 trillion asset manager Vanguard from Tuesday will allow its clients to start trading crypto exchange-traded funds and mutual funds, Republicans press for action on a market-structure bill amid debanking allegations. Michael Saylor’s Strategy set up a new reserve from stock sales to cover at least 12 months of dividends and expanded its Bitcoin holdings to 650,000 BTC.
Vanguard’s 50M+ clients will have access to crypto ETFs from Tuesday
Vanguard, the second-largest asset manager in the world, is and mutual funds on its platform starting Tuesday, reversing its previous stance on digital asset ETFs.
Spurred by persistent retail and institutional demand, Vanguard will permit and mutual funds similar to how the firm treats gold, a Vanguard spokesperson confirmed to Cointelegraph in a statement.
The investment manager also said it has ruled out memecoins and creating its own crypto ETFs and mutual funds.
“We serve millions of investors who have diverse needs and risk profiles, and we aim to provide a brokerage trading platform that gives our brokerage clients the ability to invest in products they choose,” the Vanguard spokesperson said.
Republicans urge action on market structure bill over debanking claims
Republican lawmakers on the US House Financial Services Committee and House Oversight Subcommittee on what they called “debanking of digital assets,” claiming that the previous administration was responsible for cutting off access to financial services for some crypto companies and individuals.
In a Monday notice, House Financial Services Chair French Hill and Oversight Subcommittee Chair Dan Meuser that regulators under the administration of former US President Joe Biden “used vague rules, excessive discretion, informal guidance, and aggressive enforcement actions to pressure banks away from serving digital asset clients” — actions many Republicans have referred to as “Operation Choke Point 2.0.”
The report concluded that legislative action, among other measures, was necessary to provide clarity for the cryptocurrency industry. Hill and Meuser said, “Congress must enact digital asset market structure legislation,” known as the CLARITY Act, and other bills targeting the cryptocurrency industry.
“Overall, the CLARITY Act heads off a future Operation Choke Point 3.0 by reversing the SEC’s regulation by enforcement approach, enabling market participants to lawfully operate in the US under clear rules of the road, and making clear that banks may engage in the digital asset ecosystem,” said the report.
The Digital Asset Market Structure bill, which was passed by lawmakers in the House of Representatives in July, is under consideration in the Republican-led Senate Agriculture Committee and the Senate Banking Committee, both of which have of draft legislation.
Senate Banking Chair Tim Scott that the committee planned to have the bill ready for signing into law by early 2026.
Strategy sets up $1.4 billion cash reserve, lifts Bitcoin stash to 650,000 BTC
Strategy, the world’s largest public Bitcoin holder, is to support dividend payments on its preferred stock and interest on its outstanding debt.
Strategy on Monday the establishment of a US dollar reserve funded through proceeds from the sale of Class A common stock under its at-the-market offering program.
“Strategy’s current intention is to maintain a USD Reserve in an amount sufficient to fund at least twelve months of its dividends, and Strategy intends to strengthen the USD Reserve over time, with the goal of ultimately covering 24 months or more of its dividends,” the company said.
Alongside the launch of the reserve, Strategy disclosed an additional purchase of 130 Bitcoin () for $11.7 million, bringing its total holdings to a symbolic value of 650,000 BTC, acquired for $48.38 billion.
According to the Strategy’s company update on Monday, its US dollar reserve will be the primary source of funding dividends paid to holders of its preferred stocks, debt and common equity.
The update details that the $1.44 billion reserve is 2.2% of Strategy’s enterprise value, 2.8% of equity value and 2.4% of Bitcoin value.
“We believe this improves the quality and attractiveness of our preferreds, debt and common equity,” Strategy said, adding that it raised $1.44 billion in less than nine trading days by selling its common A stock MSTR.
