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Ark Investment Management founder and CEO Cathie Wood says cryptocurrency exchange-traded funds (ETFs) are here to stay as the growth of crypto wallets continues to expand. Speaking at the Solana Accelerate event in New York, Wood highlighted that while crypto wallets offer added protection and independence, the ease and convenience of ETFs will keep them popular among traditional investors . She commented: I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button. – Cathie Wood Wood argued that ETFs will remain attractive to those using them for convenience, though these crypto products may ultimately act as a bridge to wallet-based solutions. She added that investors are still drawn to the offer of decentralization wallets, saying they are “insurance policies” against failures in traditional financial systems . So far, there are roughly 200 million active Bitcoin wallets globally, per Bitbo’s data. Meanwhile, U.S.-based spot Bitcoin ETFs saw around $2.75 billion in inflows during the trading week ending May 23, as Bitcoin surged to a record high of $111,970 on May 22. Spot Bitcoin ETFs have received over $44 billion in inflows, while spot Ether ETFs have only recorded $2.77 billion since launch. Wood explained that Ether ETFs saw less success because the US Securities and Exchanges Commission did not permit staking . Nonetheless, she believes Ether could be the gateway for new investors to understand smart contracts before moving on to assets like Solana. Eric Balchunas, interviewing Wood, also claimed that several investors are hoping for a Solana ETF more than Ether or XRP ETFs. Wood, however, claimed that President Trump’s decision to introduce his memecoin, TRUMP, on the Solana network may have altered some investors’ perception of the SOL token and network, making them more cautious and skeptical. Nonetheless, she said she would share her Solana price projection once she’s done with her analysis. VanEck recently aimed at the SEC for what it termed as delays on several Bitcoin ETF-related applications. The firm’s head of research, Matthew Sigel, argued that the commission’s postponements affect its options trading application tied to its spot Bitcoin ETF. The investment management company criticized the company for poor communication and unclear reasoning behind the delays. Sigel cited the delay of CBOE’s 19b-4 filing on the HODL options listing, claiming the regulatory agency postponed its decision without a proper explanation. While the commission put off its approval for several filings, it is still accepting new submissions. The SEC also delayed its decision on the firm’s in-kind creation and redemption for its spot Bitcoin ETF. Similarly, Fidelity’s filing on in-kind redemptions on its spot Bitcoin and Ethereum ETFs was postponed, and no decision timeline was provided. Additionally, on May 22, the agency put off its ruling on CoinShares spot XRP ETF application. However, it did provide a timeline, pushing its deadline from May 26 to August 24. The agency also asked for public input on the firm’s filing, which added more uncertainty. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

Masayoshi Son, the billionaire behind SoftBank, is working with the Trump administration on a plan to create a massive US-Japan sovereign wealth fund that would pump hundreds of billions of dollars into tech and infrastructure across the United States, according to The Financial Times. The idea is being discussed at the highest levels of government in both countries, and it’s already been brought up directly with US Treasury Secretary Scott Bessent and Japanese Prime Minister Shigeru Ishiba. Talks are still in early stages, but both sides have raised the proposal repeatedly in recent weeks as part of wider trade negotiations. The US Treasury and Japan’s Ministry of Finance would act as co-owners of the fund, each holding a large stake. It would also allow for additional limited partners to invest and might even give ordinary citizens from both countries the chance to buy in. One official familiar with the conversation allegedly said the fund would need to be “enormous,” estimating an initial capital pool of $300 billion, and that it would likely be heavily leveraged to increase its reach. The fund would directly invest in profitable projects, delivering returns to the governments rather than relying on indirect benefits like tax revenue from private builders. Scott Bessent is reportedly pushing for new streams of government revenue that don’t involve raising taxes. “The theory is that Bessent is looking for revenue streams for the Treasury that do not involve raising taxes, and however far out this joint fund may sound, it would in theory provide that,” one person briefed on the talks said. The goal is to design a new kind of sovereign financial partnership, where Japan would be protected from political volatility in the US while still profiting from shared ventures. Shigeru Ishiba, who leads Japan’s government, has shown strong interest in this structure. On Friday, he spoke with Donald Trump for 45 minutes by phone to talk about security, tariffs, and diplomacy. Afterward, Ishiba told reporters he expects their upcoming face-to-face meeting at the G7 summit in Canada this June to be a major moment for both the investment fund talks and the stalled tariff negotiations. Japan has made clear it wants zero tariffs, while Trump’s team has drawn a line at a 10% minimum rate. Ishiba, speaking Sunday in Kyoto, said there had been “progress” on a range of issues including non-tariff measures and economic security. Japan’s top trade negotiator, Ryosei Akazawa, had been in Washington that same Friday for the third round of official tariff talks with US officials. Masayoshi Son has been actively involved in shaping the proposal. He’s been a frequent visitor to Mar-a-Lago, where he’s met directly with Trump. The SoftBank founder was also one of the key figures standing beside Trump in January, during the announcement of the $500 billion Stargate project . The plan includes building AI infrastructure and data centers across the US, with Oracle and OpenAI named as major players. That project, according to people who’ve spoken with Son, is exactly the kind of initiative this US-Japan wealth fund could back. If the fund becomes reality, it would replace the old playbook where governments gave tax incentives to attract factory builds or private construction. Instead, this one would cut the middleman and give direct investment returns based on the share owned by each government. Bessent wants it to be the model for future deals with allies, while Japan wants protections baked in to avoid dealing with random White House policy swings. Shigeru Ishiba also brought up military shipbuilding cooperation during his Sunday briefing. He said Trump’s administration had shown interest in letting US warships be repaired in Japan, and Tokyo is open to it. He mentioned icebreaker technology, a Japanese specialty, as a potential link — especially for Arctic trade routes, which are becoming more important. “We will continue to further refine our discussions with the G7 summit in mind,” Ishiba said. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Weekly Recap / Market Summary 👇 🔹 #Bitcoin hit a new all-time high, nearing $112K! 🚀 🔸 This week, major #altcoins mostly surged: Ethereum +3.2% | Binance Coin +2.5% | Cardano +4.1% | Solana +3.8% | XRP +2.9% 💥 🔹 U.S. Senate passed the GENIUS Act to regulate #stablecoins. ⚖️ 🔸 Major U.S. banks (JPMorgan, Bank of America, Citigroup, Wells Fargo) are exploring a joint stablecoin. ⚡️ 🔹 JPMorgan CEO Jamie Dimon reversed stance, now allowing clients to buy $BTC. 🔄

Tether says it will continue to focus on markets outside the United States and plans to launch compliant stablecoins to attract institutional funds Although the U.S. Congress is promoting stablecoin regulatory bills such as the Genius Act, Tether, the world's largest stablecoin issuer, said its main business focus will still be on markets outside the United States. Tether CEO Paolo Ardoino said the company is concerned about how the bill distinguishes between domestic and foreign issuers, and hopes to maintain global business expansion under the premise of compliance. Currently, Tether's USDT accounts for more than 60% of the global stablecoin market, and users are mainly distributed in emerging markets. Ardoino pointed out that compared with the diverse payment systems in the United States (such as Zelle, PayPal, etc.), Tether's service focuses on the 3 billion unaccounted users in the world who have not yet fully accessed the traditional financial system. Although it does not currently directly serve U.S. customers, most of Tether's reserve assets have met the requirements of the proposed regulations, and some assets such as Bitcoin and mortgages are still beyond the scope of compliance. Ardoino said the company is considering issuing a new stablecoin that fully complies with regulatory standards to attract institutional investors, and is promoting the audit of reserve assets by the Big Four accounting firms. He added: "Full audit is our top priority." (Bloomberg)

According to Bloomberg, Tether CEO Paolo Ardoino said the company will keep its focus on overseas markets despite U.S. stablecoin legislation and is closely watching how the Genius Act treats foreign issuers. He noted Tether may launch a compliant stablecoin to attract