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The US Securities and Exchange Commission (SEC) has started an official review of WisdomTree's proposal to create a spot ETF on XRP. If approved, the fund will be the first legal way for US investors to access XRP through traditional brokerage accounts.
Bloomberg says that the Bank of Japan’s unrealized losses on government bonds hit a record high. Losses from government debt holdings tripled from a year earlier and totalled 28.6 trillion yen ($198 billion) at the end of fiscal 2024, according to the regulator’s report.
Chilean copper mining company Antofagasta is offering Chinese smelters negative processing fees of -$15 per ton amid a global decline in ore supplies. This information was reported by Bloomberg, citing individuals familiar with the negotiations.
The Confederation of British Industry (CBI) reports that business confidence in the country's service sector has dropped to its lowest level in 2.5 years. The business sentiment index fell to -43% in May, down from -28% in February.
Motivated by regulatory changes, major US banks are cautiously exploring the possibility of entering the cryptocurrency market, Reuters reports. However, many remain hesitant to take proactive steps.