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President of Madeira made the announcement during a chat with Prince Filip of Serbia at Bitcoin Amsterdam, pledging an emphasis on collaboration and technology development. President Miguel Albuquerque of Madeira has announced plans for the creation of a Bitcoin business hub, aiming to drive innovation in the region. The statement was made during a fireside chat with Prince Filip of Serbia on the second day of Bitcoin Amsterdam 2023. Prince Filip expressed interest in the new Bitcoin business hub, emphasizing its role in technology development and partnerships. President Albuquerque noted the hub's origins in Madeira and its inclusive collaboration opportunities. According to President Albuquerque, the idea for the Bitcoin business hub started with a group of hard-working professionals and is open to everyone who wants to collaborate. Madeira is an autonomous region of Portugal that has embraced Bitcoin by implementing policies that exempt Bitcoin investors from paying person...

The Bitcoin Adoption Fund will have long-only exposure to Bitcoin and be available to institutional investors. Japan’s largest investment bank, Nomura’s digital asset subsidiary Laser Digital Asset Management, has launched a Bitcoin Adoption Fund for institutional investors. The official announcement noted that the Bitcoin (BTC)-based fund will be the first in a range of digital adoption investment solutions that the firm plans to introduce. Nomura is a Japanese financial giant with over $500 billion worth of assets and offers brokerage services to leading institutional investors. The Bitcoin fund launched by its digital asset arm will now offer investors direct exposure to Bitcoin. The Laser Digital Bitcoin Adoption Fund offers long-only exposure to Bitcoin. The financial giant has chosen Komainu as its regulated custody partner. The Bitcoin Fund is a portion of Laser Digital Funds Segregated Portfolio Company that has been registered as a mutual fund in accordance with the Cayman...

The Swiss crypto ETP issuer wants to make it easier for investors to get exposure to Bitcoin amid extreme fear on the market. 21Shares, a global issuer of crypto exchange-traded products (ETP), is taking action to respond to the current bear market by launching crypto winter-focused investment tools. The company has rolled out the 21Shares Bitcoin Core ETP (CBTC), an ETP specifically designed to offer low-cost exposure to Bitcoin (BTC) am to the ongoing market sell-off. The physically-backed Bitcoin ETP started trading on the SIX Swiss Exchange on June 29, with a total expense ratio of 21 basis points, selected to reflect the 21 million cap on Bitcoin. According to the firm, CBTC’s ratio is 44 basis points below the next lowest product on the market. CBTC is part of 21Shares wider bear market-focused series of products referred to as the Crypto Winter Suite. The offering aims to provide investors with more options to enter the crypto ecosystem during challenging markets by providing l...

A look at some of the questions that friends, family and acquaintances may have about crypto and some appropriate responses. Interest in crypto has been growing since the 2017 bull market and has increased even further since 2021, which saw the nonfungible token (NFT) boom and Bitcoin (BTC) hitting its highest price so far.  So, what can a crypto investor tell family and friends who are interested in cryptocurrency? Here are some common and important questions that one can come across regarding crypto and some appropriate responses with opinions from experts in the industry. What is cryptocurrency? One of the most common questions a crypto investor might get asked is what cryptocurrency is in the first place. Cryptocurrency is a digital currency that is designed to be used as a medium of exchange. This exchange can come in the form of peer-to-peer (P2P) payments and retail purchases.  Lucaz Lee, CEO of Affyn — a mobile-based metaverse platform — told Cointelegraph, “A cryptocurrency...

Analysts say the best-case scenario is the SEC approves the batch of spot Bitcoin ETFs but it may also exercise its right to an appeal. The United States Securities and Exchange Commission is facing its first deadlines to decide on seven new Bitcoin (BTC) spot exchange-traded fund applications with the latest being Sept. 4 amid its defeat to Grayscale Investments in a U.S. federal appeals court. Investment firm Bitwise will learn if its ETF will win the SEC’s approval on Sept. 1 while BlackRock, VanEck, Fidelity, Invesco and Wisdomtree will all be awaiting the SEC’s decision for their funds by Sept. 2, according to several SEC filings. Meanwhile, Valkyrie is set to hear back from the SEC on Sept. 4. List of recent Bitcoin spot ETF applicant filing dates and deadlines. Source: Bloomberg The U.S. Court of Appeals ruled on Aug. 29 that the SEC’s rejection of Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF was “arbitrary and capricious” — but...

Christine Okike, a lawyer representing BlockFi at its bankruptcy hearing claimed that BlockFi is not in immediate danger and has sufficient funds to continue operating normally. According to a lawyer representing the bankrupt crypto lender BlockFi Inc.,the company is in a stable financial position with access to ample cash reserves, despite having over $200 million in exposure to Silicon Valley Bank, Bloomberg reported. According to the report, BlockFi had $227 million invested in a money market mutual fund that Silicon Valley Bank marketed; nevertheless, the risk is probably related to the performance of the fund, not the bank's financials. https://t.co/xsgWgQRsLy — Cointelegraph (@Cointelegraph) March 11, 2023 During a bankruptcy hearing on Monday, Christine Okike of Kirkland & Ellis claimed that BlockFi is not in immediate danger and has sufficient funds to continue operating normally, including paying employees and vendors. Okike reportedly shared; BlockFi is fine ...

A crypto index fund is a type of investment fund that holds a basket of cryptocurrencies, similar to a traditional stock index fund. While the COVID-19 pandemic’s long-term socioeconomic effects are yet to be known, most economies are still dealing with the effects of the global financial crisis. Moreover, millions of households are under or unbanked, and there are additional obstacles faced by people, including slow wage growth, skyrocketing property costs and government debt as more and more individuals are living hand to mouth. After the global financial crisis of 2008, financial advancements like blockchain-based assets such as Bitcoin (BTC), Ether (ETH) and more cryptocurrencies emerged. However, they have been through roller coaster rides due to extreme volatility and mismanagement of businesses. In light of this, tokenized securities backed by real-world assets such as real estate, commodities or company shares came into existence. Tokenized securities use blockchain for the is...