Metasphere Labs Shares Industry Developments Signaling Major Advancements in Tokenized Real World Assets

VANCOUVER, British Columbia, May 22, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N), a leading innovator in tokenized assets and open metaverse environments, is excited to provide several significant developments within the industry that are expected to impact the digital and carbon asset landscape.

Potential for Ether ETFs

In a groundbreaking move, the U.S. Securities and Exchange Commission (SEC) has asked major exchanges, including Nasdaq, CBOE, and NYSE, to refine their applications for listing spot ether exchange-traded funds (ETFs). ¹. This development could be a major shift, considering the SEC's previous cautious stance, and is expected to have a profound impact on the market. The price of ether surged by 18% on Monday and continues to climb, highlighting the market's positive reaction^{1 & 2}.

BlackRock's Tokenized Treasury Fund Takes the Lead

In another landmark development, BlackRock's BUIDL fund became the largest tokenized treasury fund, reaching $375 million and capturing almost 30% of the $1.3 billion tokenized treasury market³. This rapid growth, achieved in just six weeks has captivated digital asset firms and traditional finance in tokenized Real World Assets (RWAs).
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1 - https://www.reuters.com/markets/us/us-sec-asks-exchanges-fine-tune-eth ...
2 - Ether surges 18% amid new hope for spot Ether ETF approvals (cointelegraph.com)
3 - https://www.coindesk.com/markets/2024/04/30/blackrocks-buidl-becomes-l ...

Metasphere Labs' Ongoing Projects and Partnerships

Metasphere is at the forefront of developing tokenized assets, particularly within the carbon and natural capital economy. Our strategic partnership with Pure Sky Registry LLC to create a blockchain-integrated carbon credit registry is progressing well. This initiative aims to make carbon credit transactions more transparent, secure, and efficient, revolutionizing carbon credit management. The MVP (minimum viable product) is set to be delivered by July 1, 2024.