# Bài viết Liên quan SEC Regulation

Trung tâm Tin tức HTX cung cấp những bài viết mới nhất và phân tích chuyên sâu về "SEC Regulation", bao gồm xu hướng thị trường, cập nhật dự án, phát triển công nghệ và chính sách quản lý trong ngành tiền kỹ thuật số.

The Robinhood Stock Tokens You Bought Are Just Debts from Jersey Island

The Robinhood stock tokens you buy are essentially debt securities issued by a shell company in Jersey, not real equity. These tokens merely track stock prices like NVIDIA or Apple but grant no shareholder rights like voting or dividends. If the underlying company fails, you have no claim on its assets. Instead, you hold a debt instrument from Robinhood Assets (Jersey) Limited, which promises returns based on stock performance. If this Jersey entity goes bankrupt, you become an unsecured creditor. This complex structure stems from Robinhood's past crisis during the 2021 GameStop short squeeze, where T+2 settlement caused liquidity issues. The blockchain-based tokens enable instant settlement, theoretically preventing such trading halts. The product is classified by the SEC as a "linked security" or structured note, carrying counterparty risk not borne by actual shareholders. It is available globally but excluded from the US, UK, and other major markets, while Robinhood offers a fully compliant, asset-backed token model in Europe under MiFID II. The system relies on oracles for pricing, which poses risks like manipulation and faulty liquidations seen in DeFi exploits. Robinhood profits from spreads and aims to become a full-chain settlement layer. Meanwhile, competitors like Ondo have launched SEC-registered, fully compliant equity tokens in the US with actual voting rights and dividends. Robinhood’s Jersey debt model appears as a transitional, regulatory-arbitrage product, aiming to capture market share ahead of future regulatory clarity.

Foresight News07/07 03:20

The Robinhood Stock Tokens You Bought Are Just Debts from Jersey Island

Foresight News07/07 03:20

When Regulation Gives the Green Light: The Starting Point of Crypto ETFs and Multi-Asset Era in 2025

The U.S. SEC’s regulatory shift in 2024, particularly under the new Trump administration, has accelerated the approval and adoption of cryptocurrency ETFs, marking the beginning of a multi-asset era in 2025. Spot Bitcoin ETFs saw $577 billion in net inflows by mid-December, a 59% increase since January, though flows fluctuating with market conditions. Ethereum ETFs also attracted $12.6 billion in net inflows after their July launch. A key development was the SEC’s September approval of generic listing standards for commodity-based trust shares, simplifying the process for ETFs tracking a range of digital assets—from established tokens to newer meme coins. This opens the door for dozens of new crypto ETFs. Following Bitcoin and Ethereum, spot ETFs for XRP and Solana were launched, attracting significant investor interest—$883 million and $92 million in net inflows, respectively—despite a challenging macroeconomic environment. These ETFs also introduced features like staking rewards, supported by new regulatory guidelines. Institutional adoption is growing, with firms like Vanguard and Bank of America enabling client access to crypto ETFs. Multi-asset and index-based ETFs are gaining traction among professional investors seeking diversified exposure without deep asset-specific knowledge. Major institutional players, including sovereign wealth funds and university endowments, have begun allocating to Bitcoin ETFs, signaling a shift toward long-term institutional participation that may reduce volatility and support sustainable growth.

比推12/29 09:29

When Regulation Gives the Green Light: The Starting Point of Crypto ETFs and Multi-Asset Era in 2025

比推12/29 09:29

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