The U.S. Securities and Exchange Commission (SEC) has postponed its decision on two key features that crypto asset managers are seeking for their spot crypto exchange-traded funds (ETFs).

Cryptocurrency exchange Kraken has started rolling out commission-free stock and ETF trading in the U.S., marking a major shift for the firm as it moves beyond crypto.

Leading stablecoin issuer Tether is shifting its Bitcoin mining operations to Ocean’s pool in a move aimed at boosting the network’s decentralization.

Top stories in the Crypto Roundup today:

• SEC Pushes Back Rulings on Ether ETF Staking and In-Kind Redemptions
• Kraken Launches Commission-Free Stock and ETF Trading in U.S.
• Tether to Shift Bitcoin Hashrate to Ocean Pool in Bid to Decentralize Mining

SEC Pushes Back Rulings on Ether ETF Staking and In-Kind Redemptions to June

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on two key features that crypto asset managers are seeking for their spot crypto exchange-traded funds (ETFs).

On Monday, the agency delayed rulings on whether to permit in-kind redemptions—a process that allows ETF shares to be exchanged for actual crypto rather than cash—for several bitcoin and ether ETFs, including those from WisdomTree, Bitwise and VanEck. 

The regulator also held off on Grayscale’s proposal to introduce staking into its Ethereum Trust and Mini Ethereum Trust, a move that would let those funds earn rewards by locking up ether to help secure the network.

The SEC now has a deadline until June to decide on in-kind redemptions and on Grayscale’s proposal.

Kraken Launches Commission-Free Stock and ETF Trading in U.S.

Cryptocurrency exchange Kraken has started rolling out commission-free stock and ETF trading in the U.S., marking a major shift for the firm as it moves beyond crypto.

The new service is being launched in select states including New Jersey, Connecticut, Wyoming and Oklahoma. Kraken plans to expand to more U.S. states and then internationally, targeting markets like the UK, Europe and Australia.

The initiative comes as crypto-native companies increasingly blur the lines with traditional finance. Kraken co-CEO Arjun Sethi described the equities launch as a “natural step,” aimed at creating a platform where traditional and digital assets coexist. “The future of trading is borderless, always on and built on crypto rails,” he said in a statement.

The move follows Kraken’s recent $1.5 billion acquisition of retail futures platform NinjaTrader. 

Tether to Shift Bitcoin Hashrate to Ocean Pool in Bid to Decentralize Mining

Leading stablecoin issuer Tether is shifting its Bitcoin mining operations to Ocean’s pool in a move aimed at boosting the network’s decentralization.

The company said that it will allocate its current and future hashrate to Ocean’s infrastructure, using the mining pool’s open-source Datum protocol to generate block templates independently. 

Right now, while Bitcoin’s hashrate is globally dispersed, the process of organizing transactions into blocks—block-building—is mostly handled by a few large pools like Foundry USA and AntPool. That has raised centralization concerns.

“Deploying hashrate to OCEAN aligns with both our mining investments and our broader mission to fortify Bitcoin against centralizing forces,” Tether CEO Paolo Ardoino said in a statement.

Tether’s BTC mining operations span several countries, including Uruguay, Paraguay and El Salvador, where the company is also headquartered. The firm said it plans to use Ocean’s software at all of its mining sites, including in remote areas of Africa. 

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