🆕 Leveraged Ethereum ETFs Debut Before Spot Funds

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Despite the highly anticipated spot Ether ETFs not yet trading, asset issuers are moving to offer leveraged funds. The first 2x leveraged Ethereum ETF went live on June 4, while the first 2x short fund will debut on June 7.

Tokenization continues to garner adoption from major financial institutions, with Galaxy Digital launching a multi-million loan against an NFT representing a rare violin worth $9 million.

Misyon Bank, a pioneering Turkish neobank, also launched a tokenization platform. Misyon Bank hopes to facilitate the tokenization of corporate and government bonds, company shares, and real estate.

And Hyperliquid, a top perpetuals DEX, has surpassed half a billion dollars in TVL.

✍️ In today’s newsletter:

• 2x leveraged Ether ETFs debut this week
• Galaxy Digital issues loan against NFT backed by rare violin
• Turkey’s Misyon Bank launches RWA Tokenization Platform
• Hyperliquid overtakes dYdX by TVL

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📈 Markets in the last 24 hrs:

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💥Leveraged Ether ETFs Enter The Market

Leveraged Ether ETFs are entering the market, with Volatility Shares’ 2x leveraged Ethereum fund hosting $5 million in volume during its debut on June 4. ProShares also announced they will launch the first U.S.-based 2x short Ethereum ETF on Friday. The funds come as analysts tip that spot Ether ETFs will launch in the coming months.

🎻Galaxy Digital Issues Multimillion Dollar Loan Against Tokenized Stradivarius Violin

Galaxy Digital has issued a seven-figure loan backed by a rare Stradivarius violin and an NFT representing the instrument. The loan was issued to Yat Sui, the co-founder of Animoca Brands, who previously purchased the violin at auction for more than $9 million.

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⛷️Misyon Bank Launches Tokenization Solution On Avalanche

Miyson Bank, a Turkish investment bank, launched a tokenization platform on Avalanche. Miyson has already issued Eurobonds for retail investors via the platform and hopes to facilitate the tokenization of other bonds, company shares, and even real estate.

📈️Hyperliquid TVL Hits All-time High, Surpassing dYdX

The TVL of Hyperliquid, a top perpetuals DEX on Arbitrum, surpassed $500 million amid the success of a prolonged points campaign. The protocol is now beating out dYdX, the veteran derivatives DEX, by TVL.

🌍 ELSEWHERE

• FTX Settles $24 Billion Tax Claim With IRS in Bankruptcy Court (Bloomberg)
• Tether CEO warns email newsletter vendor used by crypto firms may be compromised (The Block)
• Crypto Exchange DMM Bitcoin to Raise $320M to Pay Back Hack Victims (CoinDesk)
• Coinbase Launches its Smart Wallets, Dubbing It Crypto’s ‘IPhone Moment’ (Unchained)

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