Schlagwort: crypto business

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BlackRock launches new blockchain ETF for European customers

  • The iShares Blockchain Technology UCITS ETF (BLKC). track NYSE’s FactSet Global Blockchain Technologies Capped Index.
  • BLKC has an expense ratio of 0.5% and comprises 35 global companies within the crypto and blockchain space.

BlackRock has announced a new exchange traded fund (ETF) for the European market, targeting customers across the region with a blockchain technology fund dubbed the iShares Blockchain Technology UCITS ETF (BLKC).

The company’s latest ETF offering is a product that will allow customers exposure to companies whose activities involve the development, innovation, and deployment of crypto and blockchain technologies.

BLKC, which has a total expense ratio of 0.5% and will track NYSE’s FactSet Global Blockchain Technologies Capped Index, encompasses 35 global companies, BlackRock noted on Thursday.

Specifically, the ETF’s composition is of companies from both developed and emerging markets, and will see 75% of the exposure linked to companies primarily focused within the blockchain space – such as cryptocurrency miners and exchanges.

The other 25% exposure will be to companies that offer support services within the blockchain ecosystem, including payments platforms and semiconductor firms. The exposure will not involve direct investment into crypto.

BLKC is listed on Euronext.

Blockchain becomes ‘increasingly relevant’

Omar Moufti, the asset manager’s product strategist for thematic and sector ETFs, commented on the launch by noting that blockchain continues to gain momentum as more use cases develop. 

The trend has led to increased attention and demand from institutional clients keen to have an opportunity to invest in global companies in the industry. 

“We believe digital assets and blockchain technologies are going to become increasingly relevant for our clients as use cases develop in scope, scale and complexity,” said Moufti.

BlackRock recently partnered with Coinbase to offer Bitcoin trading to its clients, and also launched a private trust targeting institutional clients.

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Chainlink unveils SCALE to help fast-track Web3 innovation

  • Chainlink has unveiled SCALE, an economics program designed to to fast-track smart contract innovation in the blockchain industry.
  • The platform also launched BUILD, another of the Chainlink Economics 2.0 initiatives set to boost Web3 growth.

Chainlink Labs, the platform helping develop Chainlink’s oracle network, is looking to support further innovation across the blockchain ecosystem via its new feature SCALE.

As per an announcement from the platform this Wednesday, Chainlink SCALE represents a program designed to advance the Sustainable Chainlink Access for Layer 1 and 2 Enablement.

“We’re excited to introduce Chainlink SCALE as a way to help rapidly accelerate the growth of blockchain ecosystems while putting in place a holistic economic model that is viable for the long-term success of blockchains, dApps, and the Chainlink ecosystem,” Chainlink co-founder Sergey Nazarov said in a press release.

Some of the leading blockchain ecosystems to join the program include Avalanche, Metis, Moonbeam, and Moonriver. Chainlink expects to integrate more networks as they look to turbocharge Web3 growth.

Chainlink Economics 2.0

SCALE is one of the programs in the Chainlink Economics 2.0 initiative that intends to boost blockchain and Layer-2s while increasing Chainlink’s own economic sustainability.

Chainlink SCALE will help fast-track smart contract innovation within these blockchain ecosystems. The program will cover such operating costs as transaction gas fees for Chainlink oracles, opening key oracles services to developers.

This Economics 2.0 initiative, like BUILD that the platform also announced on Thursday at SmartCon 2022, aims at accelerating Web3 growth.

“In BUILD, projects commit to provide network fees & other incentives to Chainlink service providers in exchange for enhanced support from the Chainlink ecosystem,” Chainlink tweeted.

SCALE (previously blockchain gas grants) is similarly targeted at generating additional economic value for Web3 participants, including blockchains, dApps, and oracle service providers. 

The project also looks to bring more service providers, like stakers, into the Chainlink ecosystem.

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Circle expands USDC support Polkadot, Cosmos and NEAR

  • Circle’s USDC will be available natively on Cosmos, Polkadot, Optimism, Arbitrum and NEAR networks.
  • The integration brings to thirteen the number of blockchains with native USDC support.

Circle Internet Financial, a leading digital financial technology firm that issues the USD Coin (USDC) and Euro Coin (EUROC) stablecoins, has announced expansion of its flagship product to five major blockchain networks.

Circle announced USDC expansion to top blockchains

At the Converge22 on 28 September, Circle revealed its plans to have USDC available on Polkadot, Arbitrum, Cosmos, NEAR, and Optimism, with the stablecoin going live on four of the blockchains by the end of 2022.

USDC is expected to be natively available on Cosmos in early 2023, the company noted in a press release.

The rollout will increase USDC’s availability on blockchain ecosystems – native as opposed to abridged availability – from the current eight to thirteen. Circle already offers native USDC integration for Ethereum, Solana, TRON, Algorand, Avalanche, Flow, Hedera, and Stellar.

Native USDC support for these platforms brings more liquidity and improves interoperability across the crypto industry for both developers and users, Joao Reginatto, VP of Product at Circle said in a statement.

“Extending multi-chain support for USDC opens the door for institutions, exchanges, developers and more to innovate and have easier access to a trusted and stable digital dollar,” he added. 

Circle also announced a new Cross-Chain Transfer Protocol for USDC.

According to the company, the upcoming release is an empowering tool set to allow for USDC interoperability, improved liquidity across the crypto spectrum and reduced fragmentation of bridged assets.

Avalanche, BitGo, LayerZero Labs, and Wormhole will be among the first crypto platforms to integrate the Cross-Chain Transfer Protocol.

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Bitcoin slips below $19k once again, but can it recover its $20k resistance level soon?

Bitcoin recovered its $20k resistance level yesterday but couldn’t maintain it as the broader market embarked on a bearish run.

Bitcoin, the world’s leading cryptocurrency, has been underperforming over the last few hours. It has lost more than 7% of its value in the last 24 hours despite starting the week positively.

The poor performance coincides with that of the broader cryptocurrency market. The total crypto market it currently stands below $920 billion, down by more than 5% in the last 24 hours.

Bitcoin reached the $20k mark earlier this week after performing well. However, the bears regained control of the market, and BTC is now trading at around $18,700 per coin. 

Ether, the second-largest cryptocurrency by market cap, briefly surged past the $1,300 resistance mark earlier this week. However, it is now down by more than 7% in the last 24 hours and is trading around $1,280 per coin.

Key levels to watch

The BTC/USD 4-hour chart is turning bearish as Bitcoin is relinquishing some of the gains it accumulated earlier this year. The technical indicators show that Bitcoin is currently underperforming against the broader market.

BTC/USD Chart By TradingView

The MACD line remains above the neutral zone but could soon fall into the negative region if the bearish trend continues.

Furthermore, the 14-day relative strength index of 41 shows that Bitcoin could enter the oversold region if the bears remain in charge.

At press time, BTC is trading at $18,717 per coin. If the bearish trend continues, Bitcoin could dip below the first major support level at $18,298 over the next few hours.

Bitcoin has managed to stay above $18k in recent weeks, and the bulls could defend their position above that price in the near term.

The bulls could also regain control of the market before the end of the week and push Bitcoin towards the $20k psychological level once again. 

However, unless there is an extended bullish run, Bitcoin should steer clear of the $20,819 resistance level over the next few days. 

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Gemini partners Betterment to offer curated crypto portfolios

  • Gemini partnership with Betterment will allow the company to provide crypto custody services to the digital investment advisor.
  • Betterment has over 730,000 customers across its business who could gain exposure to the crypto asset class.
  • Institutional interest in crypto remains despite crypto winter.

Gemini, one of the leading crypto exchange and custody providers in the industry, has struck a partnership with digital investment advisor Betterment in a deal that is set to bring diversified crypto investment portfolios to investors.

A press release by Gemini on Tuesday stated that the new offering will be available to Betterment’s retail investors as well as Betterment for Advisors customers. 

The partnership means Betterment’s upcoming crypto product will offer customers an investment opportunity in crypto portfolios designed around digital assets on Gemini. The exchange, on the other hand, will act as a crypto custodian for Betterment, opening crypto adoption to more thousands of investors across the financial advisor’s market.

Notably, the partnership is likely to open up the crypto investing space for over 730,000 of Betterment’s customers. As noted in Gemini’s blog announcement, these customers now have a chance to diversify their long term investments via exposure to the increasingly popular crypto asset class.

Betterment will begin to offer expert-built digital assets portfolios next month, which its customers will be able to access via their accounts.

Additionally, partners of Betterment for Advisors will have an opportunity to leverage the crypto product to provide exposure to crypto to their own clients.

Institutional investors continue to warm up to crypto

Gemini’s partnership with Betterment comes amid increased interest from leading Wall Street companies in offering crypto products to their clients.

In April this year, Fidelity Investments announced its clients in the US would add Bitcoin to their 401(k) accounts. A few months later, (in August) BlackRock partnered Coinbase to offer crypto trading to its customers.

Fidelity, Charles Schwab and Citadel Securities also recently joined up with other top Wall Street firms to launch a crypto exchange dubbed EDX Markets.  

These developments have continued despite the crypto winter, highlighting the growing interest in the crypto asset class.

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