A Republican National Committee panel has approved a draft of its 2024 party platform, which includes strong support for Bitcoin. On page nine, the draft explicitly states, “We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their digital assets, and transact free from Government Surveillance and Control.” Additionally, it promises to end what it describes as the Democrats’ “unlawful and unAmerican Crypto crackdown” and opposes the creation of a Central Bank Digital Currency (CBDC). The Hill reports that the platform committee overwhelmingly approved the new draft, which will face a final vote on Tuesday.

This decision signifies the Republican party’s clear stance in favor of Bitcoin and cryptocurrency innovation, positioning itself against the current approach by the Biden Administration and Democrats. The draft highlights the growing interest and advocacy for Bitcoin protection and support within the party, aligning with broader trends of Bitcoin adoption among various Republican politicians. In May, Donald Trump stated his commitment to ensuring that “the future of crypto and Bitcoin will be made in the USA.”

VanEck has taken a significant step towards introducing the first spot Ethereum ETF in the U.S. by filing an S-1 registration form with the SEC. Set to be listed on the Cboe BZX Exchange under the ticker “ETHV,” the ETF aims to mirror the price of Ethereum, less expenses. Bloomberg’s Erich Balchunas noted that this filing is expected to spark similar moves from other firms, setting the stage for a possible series of crypto ETF launches.

The ETF will directly hold Ethereum, basing its share values on the MarketVector Ethereum Benchmark Rate derived from leading Ethereum trading platforms. Unlike other funds, this ETF will not partake in staking or yield activities, focusing solely on cash transactions for authorized participants. This approach could pave the way for purer exposure to Ethereum’s market dynamics.

This move arrives at a pivotal moment for the crypto sector, as anticipation builds around the SEC’s decision. Approval could lead to a new era of crypto-based ETFs offering direct market access, although the SEC has historically expressed concerns over potential market manipulation. The coming weeks will be crucial as the SEC reviews VanEck’s groundbreaking proposal.

SEC filing

The debate of 2024 has been about scaling bitcoin self-custody versus ossification, with the presupposition that an ossified bitcoin protocol as it is today is imperfect – but its sound monetary properties alone are enough to change the world for the better, so changes would introduce unacceptable risk. This article will discuss why in fact NOT scaling bitcoin also puts those same monetary properties at direct risk.

Trying to give a neutral overview, the pro-change arguments are about increasing transaction throughput in a way that doesn’t burden nodes (unlike a block size increase). Various proposals exist for tactical extensions to Script, the toolkit all wallets employ to lock up…

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