Cryptocurrency firms and centralized exchanges are launching more traditional investment offerings

With investors seeking more flexible product offerings under one platform, the “line is blurring” between traditional finance (TradFi) and the cryptocurrency space

Cryptocurrency firms and centralized exchanges are increasingly moving into Wall Street territory, launching more traditional investment offerings and showcasing the increasing connection between crypto and traditional finance (TradFi).

There’s a growing synergy between traditional financial investments and the emerging crypto space, according to Gracy Chen, the CEO of Bitget, the world’s sixth-largest crypto exchange.

Crypto players are now checking out traditional finance as they see the opportunity to bridge it, Chen told Cointelegraph.

The lines are blurring. Investors want flexibility, and products that can straddle both worlds are naturally attractive, Chen said. Some players see TradFi as a safety net; others, like Bitget, see it as a launchpad for broader adoption.

In the wider crypto space, tokenization platform Securitize partnered with Mantle to launch an institutional fund that will generate yield on a basket of diverse cryptocurrencies, similar to how traditional index funds track a mix of stocks.

The MI4 Fund aims to offer investors exposure to cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Solana (SOL), as well as stablecoins tracking the US dollar, Securitize said.

The fund also integrates liquid staking tokens — including Mantle’s mETH, Bybit’s bbSOL, and Ethena’s USDe — in a bid to enhance returns with onchain yield.

The launch comes as retail and institutions alike increase exposure to cryptocurrencies, particularly Bitcoin, as a hedge amid escalating macroeconomic uncertainty.

Mantra founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens in preparation for sending them to a burn address in an attempt to restore the token’s value by tightening supply.

Mantra announced that the unstaking process had begun and would be completed by April 29, at which point Mullin’s Mantra (OM) tokens will be sent to the burn address and permanently removed from circulating supply.

It was a first step in rebuilding trust with the community, but far from the last, Mullin said.

Mantra said it was also in talks with key ecosystem partners about burning a further 150 million OM to bring the total burn amount to 300 million.

With 150 million fewer OM, Mantra’s total supply will decline to 1.67 billion, and its number of staked tokens will drop by over 26% to 421.8 million OM from 571.8 million OM.

Cryptocurrency staking protocol Symbiotic closed a $29 million Series A funding round to support the launch of a new economic coordination layer for blockchain security.

The round was led by Web3-focused investment firms, including Pantera Capital and Coinbase Ventures, and included more than 100 angel investors, with participation by major industry players Aave, Polygon and StarkWare, the company announced on Monday.

The closing of the funding round also marks the launch of Symbiotic’s Universal Staking Framework, which aims to be an economic coordination layer that bolsters blockchain security via staking.

The new staking layer enables the use of any combination of cryptocurrencies to secure networks, including monolithic and modular layer-1 and layer-2 blockchains.

The US Securities and Exchange Commission (SEC) has delayed a decision on whether to approve a proposed exchange-traded fund (ETF) holding Polkadot’s native token, regulatory filings show.

The regulator has extended its deadline for a final ruling until June 11, nearly four months after the Nasdaq requested permission to list Grayscale Polkadot Trust on February 24.

Grayscale’s ETF filing adds to a roster of about 70 proposed ETFs awaiting SEC approval, including funds holding altcoins, memecoins and crypto-related financial derivatives, according to Bloomberg Intelligence.

Asset managers are pitching ETFs for “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform. Asset manager 21Shares is also awaiting permission to list its own Polkadot ETF.

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

The Official Trump (TRUMP) token rose over 73% as the week’s biggest gainer, after the president announced an exclusive in-person dinner for the top token holders. The Sui (SUI) token rose over 69% as the week’s second-best performing token.