Here’s what happened in crypto today

Today in crypto, Kraken reportedly raised $500 million at a $15 billion valuation ahead of a potential public offering. This funding aligns with industry expectations of an IPO. In the UK, UK Finance launched a pilot for tokenized sterling deposits with six major banks, including Barclays and HSBC, aiming to explore benefits such as improved payment control and fraud prevention. The pilot will test online marketplace payments, remortgaging, and wholesale bond settlement until mid-2026. Meanwhile, BlackRock is making moves to broaden its Bitcoin offerings by filing for a Bitcoin Premium Income ETF that would generate yield through covered call options on Bitcoin futures. This new product aims to complement BlackRock's existing iShares Bitcoin ETF, which has already seen significant inflows since its launch. These developments highlight the ongoing evolution and institutional adoption within the cryptocurrency landscape.

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