Market Watch | Bitcoin | $9,603 | +0.3% | | Ethereum | $285.07 | +4.2% | | Tether | $1.00 | +0.01% | | XRP | $0.205 | -1.1% | | Top 100 Winner: Swipe | $1.88 | +19.8% | | Top 100 Loser: Bancor | $1.35 | -9.8% | Prices are as of 5:00 p.m. ET.
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 Grayscale Investments LLC has added $400M in AUM in Q2 and now exceeds $4B AUM. Grayscale is the largest portfolio company of Barry Silbert's NYC-based Digital Currency Group. More: - Grayscale has created 10 investment products, of which four are listed on U.S. stock markets via OTC Market's QX tier exchange: Grayscale Bitcoin Trust (OTCQX: GBTC), Grayscale Ethereum Trust (OTCQX: ETH), Grayscale Ethereum Classic Trust (OTCQX: ETC), and Grayscale Digital Large Cap Fund (OTCQX: GDLC).
- On July 21, Grayscale announced that its Grayscale Bitcoin Cash Trust (OTC: BCHG) and Grayscale Litecoin Trust (OTC: LTCN) received FINRA approval. Both trusts still await Depository Trust Company (DTC) eligibility and are listed Stop by OTC Markets.
- Trusts are distinct from and less robust than ETFs. Trusts allow institutional investors to acquire underlying assets on secondary exchanges, often at discounted prices, and then apply for periodic private placement of shares which creates new trust units. Following customary lock-up periods, those new trust units can then be sold in the public markets, often at a premium to their underlying value.
- "The Grayscale arb is a pretty common trade," reiterated Multicoin Capital's Kyle Samani today.
Bloomberg 
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 The Polish Financial Supervision Authority seeks final public comments by June 30 before it begins drafting the nation's cryptocurrency legislation. The 32-page document is titled, when translated into English from Polish, Positions of the Polish Financial Supervision Authority Regarding the Issuance and Trading of Crypto Assets. More: - On July 16, the Government of Poland's Komisji Nadzoru Finansowego (KNF) opened up a two-week window for public comments on cryptocurrency legislation.
- Final submissions are due by June 30.
- With the exception of a few actions against individual companies like BitMarket and BitBay, or individuals like Sylwester Suszek, KNF has not introduced broad crypto legislation in the past two years.
- Today, the regulator's official Twitter account retweeted an article by Parkiet, which diagrams possible cryptocurrencies involved in the regulator's deliberations: BTC, ETH, XRP, BCH, BSV, ADA, LINK, LTC, BNB, and EOS.
- In 2018, KNF published a circular to clarify that it would not outright ban the trading of cryptocurrencies.
Poland Financial Supervision Authority
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 A message from LOHIKA Join us for Lohika Rethink, a thought-provoking live webinar series with breakout rooms for fellow founders, executives, and developers. On July 30, our host Raman Frey welcomes guest Jordan Burton, advisor to Bay Area VCs and tech companies including Matrix, Sequoia and Twilio. Request an invite for an in-depth conversation about how we move forward as tech leaders to build the Next Big Thing. REQUEST AN INVITE
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 Coinbase has opened 5M retail and institutional accounts this year, up from 30M on Jan. 1. According to its report on the first half of 2020, Coinbase "continued to add leading university endowments, traditional multi-strategy hedge funds, VCs, and large family offices to our roster of clients." More: - Coinbase announced its acquisition of crypto "prime broker" Tagomi on May 27.
- The Block Crypto speculates that Coinbase has enjoyed growth from sheltering-in-place retail investors, similar to Robinhood.
- Coinbase reprinted Paul Tudor Jones' announcement regarding his purchase of bitcoin: "the best profit-maximizing strategy is to own the fastest horse...my bet is it will be bitcoin."
Coinbase
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 A screengrab from "ESPN Global" A Poland-based company sharing the same name and acryonym as a major U.S. sports TV network (ESPN) is attempting an IEO. Ambiguously named token projects have plagued the cryptocurrency markets for years, including Alibabacoin (ABBC) Foundation, which was issued a cease-and-desist order from Alibaba Corporation. - The so-called E-Sports Programming Network (ESPN Global) is attempting to attract attention for its upcoming ERC-20 "Esport Token."
- The project's website contains numerous errors and claims press mentions which do not exist.
- ESPN is owned and operated by Disney in the U.S.
- Caveat emptor
Pressat Newswire
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A federal judge in Washington D.C. has ruled that bitcoin is covered by the Money Transmitters Act, making it a form of "money." The full ruling can be viewed here. More: - In the case United States v. Harmon, Chief Judge Beryl A. Howell writes "Bitcoin is these things" regarding the properties of money which "commonly means a medium of exchange, method of payment, or store of value."
- According to Coin Center's Neeraj Agrawal, the comments indicate that bitcoin "is treated as money in the context of money transmission licensing in D.C., nothing more."
Coindesk
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 |  | Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. |  | | Editor | Jonathan Harris is a writer for Inside.com. Previously, he wrote for The Huffington Post, TakePart.com, and the YouTube channel What’s Trending. | |
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