Main topic: An investment firm is attempting to turn equities into crypto tokens that comply with securities laws, with the backing of a well-known trading firm.
Key points:
1. Susquehanna International Group is supporting a project called Dinari, which aims to tokenize stocks in a compliant manner.
2. Dinari has acquired a broker-dealer and registered with the Securities and Exchange Commission, allowing it to distribute dividends and maintain records of securities ownership.
3. The company's flagship product, dShares, enables investors outside the US to use cryptocurrencies to purchase shares of major US companies and exchange-traded funds.
Asset management firm Empowered Funds has filed to list three Bitcoin Futures Exchange Traded Fund (ETF) products, with the primary advisor being Empowered Funds and sub-advisors being 21Shares and Ark Invest, aiming to attract institutional investors into the crypto market with regulatory oversight.
Data suggests asset managers are following BlackRock into the cryptocurrency market, as European crypto ETPs experienced significant inflows in June, marking their best performance since March 2022.
BlackRock, the world's largest asset manager, has filed a proposal to establish a Bitcoin exchange-traded fund (ETF), which could increase mainstream acceptance of Bitcoin investing and open up new investment opportunities if approved by the U.S. Securities and Exchange Commission (SEC).
Brazilian crypto asset management firm, Hashdex, has submitted an application to the SEC for approval to operate a Bitcoin exchange-traded fund (ETF) using spot Bitcoin acquired within the regulated CME market, in contrast to other firms' strategies of surveillance-sharing agreements with Coinbase, which it claims may not address the SEC's concerns.
A series of Bitcoin Exchange Traded Fund (ETF) applications have been submitted to the SEC, potentially offering investors a more accessible way to invest in cryptocurrency and bridging the gap between traditional finance and digital assets.
Crypto-related stocks soar as the chances of fund companies offering Bitcoin ETFs increase, though Coinbase Global faces obstacles.
Digital assets financial services firm HashKey Capital's Hong Kong-regulated fund will allocate a significant portion of its assets to altcoins, diversifying from bitcoin and ether, in order to attract investment from high-net-worth individuals and investment firms serving wealthy Asian families.
Asset managers ARK Invest and 21Shares have applied for regulatory approval for an exchange-traded fund (ETF) that would directly hold ether (ETH), the second largest cryptocurrency, with custody provided by Coinbase Custody Trust Company.
Wealth managers are facing increasing client interest in investing in cryptocurrencies, but many are unaware of the available investment vehicles; however, separately managed accounts (SMAs) are emerging as the preferred choice due to advantages such as tax optimization, direct ownership, professional management, and reporting integration.
The Tokenized Asset Coalition, consisting of industry leaders such as Coinbase and Circle, aims to promote the tokenization of traditional financial assets on a blockchain to bring the "next trillion dollars of assets" on-chain through education, advocacy, and fostering adoption of public blockchains and decentralized finance.
Crypto exchange Coinbase plans to focus on non-U.S. markets, including the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia, due to their clearer crypto laws, as it seeks to expand its operations and establish partnerships with global and local banks and payment providers while ensuring compliance with governance systems. The company also aims to intensify its lobbying and visibility efforts ahead of the EU elections and engage with the G20 to create global crypto standards.
Mirae Asset Securities, South Korea's largest financial group, is partnering with Ethereum scaling platform Polygon Labs to promote tokenization in finance and drive the adoption of Web3 technologies. Through the collaboration, Mirae aims to establish itself as a global leader in tokenized securities, bringing real-world assets onto the blockchain. Tokenization projects have already been initiated by other financial giants, and the industry is projected to grow significantly, reaching $16.1 trillion by 2030. The partnership is expected to accelerate the adoption of Web3 technologies in the financial sector and enhance interoperability with foreign financial systems.
Crypto projects are actively seeking funds from private investors, according to Chris Burniske, the founder of Placeholder Capital, who believes that private investors will enter the space once the crypto markets show signs of strength.
Arca, a crypto fund, has achieved a significant milestone by managing outside capital in its liquid hedge fund for five years, highlighting the challenges and lessons learned in the industry.
Crypto is poised to create a new investable asset class globally and will revolutionize the internet, requiring new business models, metrics, and research structures, as well as a framework to analyze value flows within the tech stack, particularly in relation to Ethereum's layer 2 solutions.
Coinbase, the U.S. cryptocurrency exchange operator, may invest more elsewhere if the U.S. cannot get crypto regulation right, raising questions about whether the U.S. is still the primary hub for crypto innovation and development.
Valkyrie Investments has become the first asset manager to win approval from the Securities and Exchange Commission to offer an exchange-traded fund (ETF) featuring Ethereum futures, paving the way for retail investors to bet on the future price of the cryptocurrency.
Investors are expected to shift from traditional bond investments to Bitcoin as a hedge against US dollar debasement, according to Bloomberg Intelligence crypto market analyst Jamie Coutts.
Crypto investment firm CoinShares is optimistic about cryptocurrency regulation in the United States as it enters the market and believes that the US is a global leader in digital asset development.
The recent filing for a spot Ethereum exchange-traded fund (ETF) in the United States by ARK Invest marks a turning point in the integration of digital assets into traditional finance, signaling the dawn of institutional liquid staking and the need for regulatory approval for mainstream adoption.
Swiss tokenization firm Backed Finance has launched the first real-world asset token on Coinbase's Base blockchain, offering a blockchain-based version of BlackRock's short-term US Treasuries ETF, with a 5.25% annual yield, to qualified investors and licensed distributors.
Coinbase's chief legal officer is optimistic that bitcoin spot exchange-traded fund (ETF) applications will be approved by the U.S. Securities and Exchange Commission, potentially boosting the price of bitcoin and benefiting crypto-linked stocks.
