Jersey City Mayor Steven Fulop has revealed his interest in investing in Bitcoin spot ETFs through the pension fund. This ‌ ‌and‌ ‌more‌ ‌news‌ in‌ ‌this‌ ‌practical‌ ‌summary‌ ‌daily‌ ‌so that‌ ‌you are always‌ ‌informed‌with‌ ‌events ‌ ‌most‌ ‌recent‌ ‌that‌ ‌occur‌ ‌within‌ ‌the‌ ‌crypto‌ ‌world.‌ ‌
Jersey City to invest in Bitcoin ETFs
📍‌The city's mayor, Steven Fulop, recently announced his intention to allocate part of Jersey City's pension fund to Bitcoin through spot ETFs. According to their statements, which were shared through the Internet.
Fulop shared a message on the social platform on July 25, in which he revealed that the city's pension fund paperwork is being updated to reflect an investment in Bitcoin spot ETFs. According to the disclosure, the fund will allocate a similar percentage to the Wisconsin state pension fund, whose allocation to cryptocurrency has been 2%, about $ 140 million dollars. The operation, according to Fulop, will be completed this summer.
The mayor of Jersey City also took advantage of his post to express his belief and support for the innovation of Bitcoin and cryptocurrencies. He stated that these innovations are here to stay and that the allocation of more government funds to Bitcoin through ETFs will become more common over time.
In this way, the city of Jersey City thus becomes the second US jurisdiction to explore Bitcoin through exchange-traded funds approved in January.
Franklin Templeton and SBI Holdings Partner to Launch Digital Asset Company
📍‌Prominent American asset manager Franklin Templeton has partnered with SBI Holdings to create a joint venture focused on digital assets. According to the Japanese newspaper Nikkei, SBI Holdings will own the majority of the shares in the new company, 51% compared to Franklin Templeton's 49%.
Through this new venture, both companies seek to offer access to digital assets in Japan through ETFs, following the launch of Franklin Templeton's Bitcoin and Ethereum exchange-traded funds in the United States.
SBI, which is one of Japan's largest financial services companies, has been at the forefront of several digital asset-related initiatives, such as the introduction of the regulated stablecoin USDC to the country's markets, through a strategic partnership with Circle. Among other initiatives, SBI operates a subsidiary dedicated to Bitcoin mining, called SBI Crypto.
Nomura and Libre Capital expand fund tokenization to Solana
📍‌Libre Capital, a fund tokenization protocol backed by Nomura, has launched three new funds based on Solana. The protocol's new tokenized funds represent the expansion of its services on the public blockchain.
As reported by Solana, the new funds from BlackRock, Hamilton Lane and Brevan Howard in Solana offer the crypto community the possibility of investing in private funds from the world's leading asset managers. Likewise, fund holders will be able to access the network's decentralized finance (DeFi) ecosystem, while operating with greater flexibility and liquidity.
“Bringing real-world assets to the blockchain is another step in making investments more accessible and improving global financial inclusion”, they said the developers of the blockchain network.
Since its initial launch on the Polygon network in March, which included the Brevan Howard Master Fund and a US dollar money market fund, Libre has sought to be a multichain protocol. Now, your tokenized funds are also available on Solana, taking advantage of its high processing power and low latency.
Chainlink will help Bancolombia secure its COPW stablecoin
📍‌Blockchain oracle network, Chainlink, has partnered with Colombian bank, Bancolombia, to secure the Colombian peso-backed stablecoin, COPW. Chainlink will integrate the Proof of Reserve (PoR) protocol into the stablecoin, ensuring that each COPW issued is backed by real reserves, thereby improving transaction security and transparency.
The partnership was announced via Bancolombia’s digital asset subsidiary, Wenia. The company’s CEO, Pablo Arboleda, stated that the strategic partnership with Chainlink also includes the integration of the Price Feeds data source and the Cross-Chain Interoperability Protocol, CCIP, with the aim of further encouraging the adoption of cryptocurrencies in the country.
Marathon Digital adopts a Bitcoin “HODL” strategy
📍‌Bitcoin miner Marathon Digital Holdings recently announced investing $100 million in Bitcoin. With this purchase, the company has not only increased its holdings of the leading cryptocurrency, but is also strengthening the narrative of Bitcoin as a strategic store of value asset.
Marathon Digital CEO Fred Thiel called Bitcoin “the best reserve asset in the world,” after raising his company's benchmarks to 20.000 BTC. Thiel expressed his strong conviction towards Bitcoin amid growing institutional trust and investment in this and other cryptocurrencies.
Through the HODL strategy adopted, Marathon Digital plans to keep the bitcoin mined with its operations, breaking with the trend of other BTC miners of selling the mined cryptocurrencies to finance their operations. In addition, the company assured that it will continue to make recurring purchases of BTC to continue increasing its reserves in the cryptocurrency.
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