Tether, the issuer of the world’s largest stablecoin USDT ($140B market cap), is expanding its reach to Bitcoin and the Lightning Network in a move designed to bolster adoption within the Bitcoin ecosystem.

The U.S. Securities and Exchange Commission (SEC) has granted initial approval to Bitwise’s Bitcoin and Ethereum ETF, marking another step toward mainstream investment access to crypto.

Coinbase Derivatives Exchange has filed regulatory documents to introduce new futures contracts for Solana (SOL) and Hedera (HBAR), signaling growing institutional demand for crypto derivatives products.

Top stories in the Crypto Roundup today:

• Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks
• Bitwise Bitcoin & Ethereum ETF Clears First SEC Hurdle
  
• Coinbase Files to List Solana and Hedera Futures
  

Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks

Tether, the issuer of the world’s largest stablecoin USDT ($140B market cap), is expanding its reach to Bitcoin and the Lightning Network in a move designed to bolster adoption within the Bitcoin ecosystem.

The integration, announced at the Plan B Conference in El Salvador, leverages Lightning Labs’ Taproot Assets protocol, which enables USDT issuance on Bitcoin’s base layer and seamless transactions via the Lightning Network—Bitcoin’s scaling solution for faster and cheaper payments.

Tether’s CEO, Paolo Ardoino, framed the expansion as a significant milestone, stating that it would enable “practical solutions for remittances, payments, and other financial applications that demand both speed and reliability.” While stablecoins have traditionally thrived on smart contract platforms like Ethereum, Tron, and Solana, this move shifts the focus toward Bitcoin’s more secure and decentralized infrastructure.

Lightning Labs CEO Elizabeth Stark emphasized the potential impact, saying that “millions of people will now be able to use the most open, secure blockchain to send dollars globally.”

Bitwise Bitcoin & Ethereum ETF Clears First SEC Hurdle

The U.S. Securities and Exchange Commission (SEC) has granted initial approval to Bitwise’s Bitcoin and Ethereum ETF, marking another step toward mainstream investment access to crypto.

The approval of Bitwise’s 19b-4 filing allows the fund to track both Bitcoin and Ether spot prices, weighted by their relative market capitalizations—currently 83% BTC and 17% ETH. The final step before trading can begin is SEC approval of its pending Form S-1, which will clear the way for the ETF’s official launch.

This approval follows similar dual BTC/ETH ETFs from Hashdex and Franklin Templeton, both greenlit by the SEC in December 2024. The move also comes just weeks after a new crypto-friendly SEC acting chair was appointed, reflecting a potential regulatory shift toward greater acceptance of digital asset funds.

Bitwise’s ETF will be custodied by Coinbase, with BNY Mellon handling cash custody and administration. The firm has also been actively expanding its crypto product lineup, recently filing for a Dogecoin ETF and a range of other altcoin-focused investment vehicles.

Coinbase Files to List Solana and Hedera Futures

Coinbase Derivatives Exchange has filed regulatory documents to introduce new futures contracts for Solana (SOL) and Hedera (HBAR) amidst growing institutional demand for crypto derivatives products.

The proposed futures contracts will be cash-settled and traded on a monthly basis, with initial availability expected on or after February 18, 2025.

Coinbase’s move comes amid a broader surge in regulatory filings for crypto ETFs and derivatives, particularly as market sentiment improves under the Trump administration. CME Group is also preparing to launch SOL and XRP futures, while asset managers like VanEck and ProShares have recently filed ETF applications for Litecoin, XRP, and Solana.

If approved, Solana futures will have a contract size of 100 SOL (approximately $24,000 per contract), with a smaller “nano” contract size of 5 SOL. Hedera futures will track 5,000 HBAR per contract.

Coinbase Derivatives, launched in 2021 and regulated by the CFTC, continues to expand its offerings as institutional demand for regulated crypto trading instruments accelerates - with Bitcoin and Ethereum futures already well-established on the platform. 

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