According to @ReutersBiz, Tesla TSLA shares rose as much as 7.5% after a regulatory filing showed CEO Elon Musk purchased nearly $1 billion of the company’s stock, with the intraday spike attributed to the disclosure in the filing reut.rs/3VS0t9K. According to @ReutersBiz, the report did not cite any cryptocurrency-market impact or exposure related to the purchase reut.rs/3VS0t9K.

According to @EricBalchunas, the SEC sent a letter to REX expressing concerns that the company may have improperly filed its application. REX's legal team remains confident a resolution is possible, echoing the situation previously seen with $PRIV. Issuers are aggressively pushing regulatory boundaries in a bid to launch the first crypto ETF, which could significantly impact market sentiment and trading volumes as regulatory clarity emerges (source: @EricBalchunas, @isabelletanlee, Twitter, May 31, 2025).