BlackRock and Citadel Securities Back New Texas Stock Exchange, Offering Alternative for Crypto Companies
- BlackRock and Citadel Securities back new Texas Stock Exchange (TXSE) launch.
- TXSE secures $120 million funding, plans to file with SEC by end of 2024.
- TXSE aims to attract crypto companies for public listings, focusing on ETFs.
- SEC approves spot Ether ETFs, potential launch by end of June.
- Competition from TXSE may lower fees for companies, benefitting crypto firms.
- Bitcoin mining stocks surge on positive industry news, like ETF approvals.
Summary :
BlackRock and Citadel Securities have reportedly supported the launch of a new national stock exchange in Texas called the Texas Stock Exchange (TXSE). The exchange has already secured $120 million in funding and plans to file registration statements with the SEC by the end of 2024. This new stock exchange could provide an alternative for crypto companies looking to go public, as there are currently only a few crypto firms listed on the Nasdaq. The TXSE is focused on securing listings for ETFs, which could lead to increased competition and potentially lower fees for companies. This news comes after the recent approval of spot Ether ETFs by the SEC, with analysts predicting their launch by the end of June. The introduction of a new stock exchange in Texas could also benefit Bitcoin mining stocks, as they tend to surge in response to positive news in the crypto industry.
Sources :
- CoinTelegraph
