"Traditional finance giants navigate uncertain waters in crypto competition"

Wall Street firms are doubling down on crypto after the SEC sued Binance and Coinbase. BlackRock, WisdomTree, and Invesco have filed applications for spot bitcoin ETFs, while a new crypto exchange called EDX Markets, backed by Wall Street heavyweights, has started operations. Some speculate that regulators may be favoring established Wall Street firms over crypto-native companies, but Bitwise Asset Management's CIO believes that specialized players in the asset management space may still do well in their niches. Bitcoin and Ether have seen gains in the past week, and the biggest gainers in the crypto market include Pepe, Radix, and Kaspa.