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Crypto

Morgan Stanley spot bitcoin ETF MSBT posts zero net outflows in first month

Morgan Stanley\'s spot bitcoin exchange-traded fund MSBT attracted $194 million in its first month and did not post net outflows on any day. The Block Crypto reported that no rival spot bitcoin ETF maintained the same streak over the period. MSBT logged $30.6 million of net inflows on its first day of trading on April 8. Its pace of inflows later slowed but remained positive, even as the broader market showed volatility.

Crypto

Ethereum-based tokenised U.S. Treasury market tops $8 billion

The market for tokenised U.S. Treasuries issued on Ethereum has grown to $8 billion in about six months, accelerating the convergence of mainstream finance and blockchain. Large financial firms including BlackRock, Franklin Templeton, Fidelity and WisdomTree have entered. Tokenised Treasuries split ownership into blockchain tokens, enabling 24-hour settlement and faster clearing. The products can also integrate with DeFi through programmable features such as collateral use and automated interest distribution.

Crypto

Sonic Labs launches native stablecoin USSD using Frax infrastructure

Sonic Labs has launched USSD, a native stablecoin using Frax infrastructure, The Block reported on March 9 local time. The Block said USSD is backed by tokenised U.S. Treasuries from BlackRock, WisdomTree and Superstate and will provide liquidity within the Sonic network. Built on Frax Finance’s modular backend, USSD can be issued directly on more than 10 chains via cross-chain LayerZero and can be converted with Circle’s USDC.