Canadian cryptocurrency fund management company 3iQ Corp launched the first ETF for Ethereum on the Toronto Stock Exchange. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
📍 3iQ Corp, Canada's leading bitcoin and crypto asset fund manager, announced the launch of an ETF (exchange-traded fund) to Ethereum on the Toronto Stock Exchange (TSX), under the name QETH.U.
The Ether Fund is the first ETF created for Ethereum (ETH) in the world, which will allow traders and investors to benefit from the potential of the second most important cryptocurrency in the market, having exposure to daily price movements and the opportunity for long-term revaluation.
📍 A group of analysts from the renowned American financial multinational, Morgan Stanley, suggest that the dollar, the world's main reserve currency, may lose close to 10% of its value in 2021, a fact that will be very beneficial for the price of Bitcoin (BTC) continue to grow.
According to reportage from Exame, Mark Wilson, chief investment officer and equity strategist at Morgan Stanley, noted that the measures taken by the Federal Reserve Bank (FED) and the United States government have been the most aggressive with “structural deficits” in the midst of the current pandemic. of COVID-19, so expect an additional 10% drop for the dollar in the next 12 months. «A weaker dollar is useful for the world. “A stronger dollar is another constraint on global growth.”, stated the expert.
📍 On the other hand, an expert revealed that investor interest in cryptocurrencies, It does not focus only on Bitcoin, the queen of cryptocurrencies on the market. During a interview at Bloomberg, the CEO of Grayscale, Michael Sonnenshein, assured that the number of investors focused on Ethereum (ETH), the second most important cryptocurrency in the markets, grew significantly during 2020.
Sonnenshein noted that ETH is transcending beyond software and application developers, and that interest is being sparked by retail and institutional investors as an asset.
“Over the course of 2020, we are seeing a new group of investors who are Ethereum first and, in some cases, Ethereum only. There is growing conviction around Ethereum as an asset class », noted the expert during the interview.
📍 During a interview on CNBC, Brian brooks, the director of the Office of the Comptroller of the Currency (OCC) of the United States, assured that the objective of regulators is to design rules and regulations that allow cryptocurrencies and digital assets to be integrated and adapted to the financial system, so that guarantee the rights and protection of consumers and users.
Brooks assured that at no time has the objective been to ban cryptocurrencies like Bitcoin. On the contrary, he revealed that he expects “clarity” for this cryptocurrency in the coming weeks. In his statements, Brooks also stated that the past Bitcoin was seen as a bubble, but that with its constant evolution and current maturity it is proving to be “a real thing”, which people and institutions are beginning to adopt on a larger scale.
📍 Crypto Plaza announced the winners of the Hackathon DeFi Madrid 2020. RealFund, the startup for the tokenization of real estate projects on blockchain, won first place. According to the statement, RealFund presented a proposal that integrates the protocol DeFi Balancer, to solve the problems associated with liquidity in real estate products for investors.
Bitptions was the second winning startup with its project DLC (Discreet Log Contracts) on the Bitcoin network. Crypto Plaza explained what it is “really interesting to understand how Bitcoin offers the possibility of programming options in this technology”, allowing the volatility of the cryptocurrency to be managed to develop new financial products in the derivatives market.
📍 In Pakistan, the government is preparing to study the possibility of legalizing the use of cryptocurrencies and the activities of mining is. and extraction of these assets in the country, after analyzing the economic situation facing the nation, which has reduced the quality of life of its more than 200 million inhabitants.
Zia Ullah Bangash, advisor to the Chief Minister for Science and Information Technology in Khyber Pakhtunkhwa province, noted that the Assembly passed a resolution to demand the government adopt and legalize the use of cryptocurrencies and digital assets in the country.
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