PANews reported on July 19 that according to Hong Kong media Wen Wei Po, after the Bitcoin ETF was listed in Hong Kong, Ren Junfei, founder and CEO of licensed virtual asset management company Pandu, announced that it plans to launch a pledged spot Ethereum ETF product in Hong Kong in the second half of this year. This product is not only a spot holding product, but will also add additional income. It is currently communicating with Hong Kong regulators on how to protect the interests of investors, as well as operational matters such as subscription and redemption.



Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more