A movement on chain is accelerating.
BlackRock is planning to tokenize ETS following its successful Bitcoin ETF.
At the same time, HSBC and BNP Pariba have joined the Canton Foundation.
Joining the Foundation enables cross-platform digital asset trading, settlement, as well as liquidity, and these.
Could be just the start of big banks adoption of blockchain, and separately out coins such as Dogecoin and Solana are seeing momentum.
Solana has seen a double digit gain over the past month, while the first US Dogecoin ETF has now launched.
Joining me on this Friday morning is Gareth Jenkinson, head of multimedia for Coin Telegraph.
Gareth, thank you so much for joining us on this Friday.
So BlackRock is planning to tokenize ETFs following the success of its Bitcoin ETF and this does come as HSBC and also BNP Pariba have joined the Canton Foundation.
So take us through Tradvi's embrace of blockchain right now.
Yeah, I think, um, uh, tokenization of real world assets has been a big narrative this year and definitely something we've covered at length at Coin Telegraph.
It's something I've spoken a lot about, uh, on stages at various conferences this year, um, you know, Paris Blockchain Week and the likes, and, and really it comes down to, uh, the future being on blockchains and blockchains, uh, running 24/7.
I think, you know, you guys are at the New York Stock Exchange.
Uh, they only trade Monday to Friday, uh, you know, 8 a.m. to 5 p.m.
And, uh, blockchains give you the ability to give markets 24 7 functionality.
And I think that's really what, uh, institutions in general are looking at.
Of course, there's a lot of, um, sort of regulatory barriers that they'll need to consider as they move forward with this.
But if you look at the success of BlackRock's, Bitcoin ET.
And it's Biddle fund, which obviously gives uh um investors access to a sort of basket of, of the top crypto majors.
Um, it's very clear to see that these are really, um, you know, popular products and, uh, the markets in general want them.
So it's, it's hardly surprising to see that BlackRock has come out and said that, hey, we're, we're exploring.
Um, you know, uh, these, these, uh, new ETFs.
And, um, again, in the same breath, uh, BNP Paribas, and HSBC, um, you know, uh, jumping into the Canton Foundation, which is, of course, its own layer one blockchain, uh, aimed at tokenizing real-world assets.
So it's, it's another.
The similar play and to see two financial heavyweights, um, globally, uh, climbing into that foundation really is just indicative of, of how much interest there is, um, in doing, you know, finance on blockchain rail.
So, yeah, really bullish week for RWA tokenization in general.
Yeah, a lot of headlines this week, as you mentioned regarding tokenization here stateside as well as across the Atlantic.
But while I have you here, Gareth, I do want to ask you about Dogecoin since we're talking about funds.
So what about the first US Dogecoin ETF launching?
What's the retail interest here and what does this say about crypto?
Well, I mean, Dogecoin is, is hugely, uh, divisive.
Uh, it's, it's pretty much the oldest, uh, meme coin out there and, and it was created as a, as a play on Bitcoin and, and, you know, borrowed a lot from the actual, uh, you know, Bitcoin script itself, you know, the, the code behind coin.
Um, but it's, it's a meme coin that's been around for a long time.
It's got a huge community and it has traded actively, uh, for many, many years.
To be honest with you, I, I don't see the, the appeal, but, uh, I'm a bit of a Bitcoin maxi, so that is why.
But, um, you know, it's, it's really interesting to see that, you know, the ETF launches and, and there is a huge appetite for people to trade the.
ETF, um, and you know, that's based on the underlying, uh, token itself.
And, um, yeah, uh, there's, there's clearly enough interest in these kinds of speculative assets that, that people are willing to set them up.
Um, I think it takes away a little bit from, from Bitcoin, uh, and Ethereum in particular, which of course are the two biggest sort of Bitcoin, uh, or ETFs out there.
So, um, it's very funny to see that this has happened, but hey, there's a lot of upside for Dogecoin as a result, and, uh, I think people will be looking to, to actively trade uh Dogecoin for quite a few months from here considering that there's now, you know, a publicly traded ETF that, that, um, you know, institutions can get involved in as well.
But wonderful, uh, stories of the, the crypto space, uh, it's just happening in real time.
Yeah, and finally, Gareth, I do want to get your take on Solana.
So on Friday morning trade we're looking at Bitcoin recovering some key levels as well as Eth holding up about that 4500 level.
But when we're talking about Solana, we saw a double digit gain some momentum shifts from Eth into Seoul.
So take us through the rotation that we're seeing.
Yeah, so, uh, it, it's really interesting to see Solana up and obviously I'm, I'm following a lot of, uh, you know, different influences in the space or, and, and, you know, Solana ecosystem participants who have been very sort of bullish on the future of Solana.
Uh, it's got a huge retail base.
There's a lot of different things happening institutional interests, you know, um, there are a few, um, big financial.
ETFs and I think it could be indicative of, uh, you know, some people loading up on these tokens if and when, uh, sort of lining ETF does come to fruition, um, so.
But our markets reporting, uh, some of the technicals are suggesting, you know, resistance between $210 and $250.
And if we, if we break part of that, uh, it could go a lot higher.
Um, and there's a lot of open, uh, interest at rally to a high of $13 billion.
So there's a lot of speculative, uh, interest here.
I think a lot of that based on institutional interest in Solana once again.
And that's why we're seeing, um, you know, a little breakout there for Solana, which is, is really interesting, uh, especially if you're holding soul.
OK, Gareth, well, thank you so much for joining us and have a great weekend.
Thanks for having me.
