Bitcoin ETFs One Step Closer: Grayscale's SEC Win

Dear Readers,

Welcome to the latest instalment of XEROF’s weekly newsletter. This week's edition features a report from our European research desk on the most important developments in the digital currency and high-end real estate markets over the past week.

Here are our featured cryptoasset news pieces this week:

• Grayscale Triumphs in SEC Suit for Bitcoin ETF Review
• Turkey Sees Soaring Cryptoasset Adoption Amidst Inflation Woes
• Litecoin Soars Following Grayscale's Legal Victory

In addition, we highlight cutting-edge luxury lifestyle innovations such as:

• Luxury Real Estate Surges: Connecticut Breaks Records with High-End Home Sales
• India's Real Estate market is set to Soar to $5.8 Trillion by 2047, Driven by HNWIs
• Aspen Breaks $100 Million Barrier with $105 Million Estate Listing

Cryptoasset News

Grayscale Triumphs in SEC Suit for Bitcoin ETF Review

Grayscale Investments has won a significant battle against the SEC to convert its Grayscale Bitcoin Trust (GBTC) into a publicly traded Bitcoin ETF; the SEC had previously rejected the application due to concerns about fraud prevention. On August 29, US Court of Appeals Circuit Judge Neomi Rao overturned the decision in response to a legal challenge. While this is certainly encouraging news, XEROF notes that it does not necessarily mean that a Grayscale spot Bitcoin ETF will be listed in the future.

Turkey Sees Soaring Cryptoasset Adoption Amidst Inflation Woes

A recent report indicates that cryptoasset adoption is surging in Turkey. There has been a significant increase in adoption in the country from 40% to 52% over the past eighteen months despite the country's struggle with rampant inflation. XEROF remarks that the rise in cryptoasset investors underscores a growing interest in and acceptance of digital currencies as a hedge against inflation, particularly as the Turkish lira has depreciated by over 50% against the U.S. dollar.

Litecoin Soars Following Grayscale's Legal Victory

The price of Litecoin (LTC) has experienced significant gains following Grayscale's recent legal triumph against the SEC. Since the announcement, LTC has surged by over 6%, marking its most substantial increase since the network halving event. Litecoin is trading at €62.62, and market analysts maintain an optimistic outlook for this cryptoasset. According to XEROF, the bullish sentiment surrounding Litecoin is primarily due to the growing community of long-term LTC holders. 

Luxury Real Estate News

Luxury Real Estate Surges: Connecticut Breaks Records with High-End Home Sales

In 2023, luxury homebuyers across Connecticut will shatter records. Over 30 municipalities in the state have already witnessed unprecedented sales during the first eight months of the year. This surge builds on the 55 milestone sales recorded in 2022, over 30 in 2021, and a dozen in 2020. This year's sales pinnacle is the anonymous $138.8 million acquisition of Copper Beech Farm.

India's Real Estate market is set to Soar to $5.8 Trillion by 2047, Driven by HNWIs

A recent Knight Frank India and NAREDCO survey predicts India's real estate sector will grow to $5.8 trillion by 2047, fuelled by the influx of high-net-worth individuals (HNWIs). “India Real Estate: Vision 2047” reveals that the proportion of HNWIs and ultra-HNWIs in India will surge from 3% to 9% by 2047, driving demand for upscale housing. By India's 2047 centennial mark, the economy could range between $33 trillion and $40 trillion. 

Aspen Breaks $100 Million Barrier with $105 Million Estate Listing

Aspen, Colorado, traditionally known for its exclusive mountain properties, is poised to achieve its first triple-digit home sale. Once uncommon, $100 million+ transactions have become more frequent in cities like New York City, Los Angeles, and Palm Beach. However, Aspen has remained an exception until now. An 8.4-acre estate in the area is listed for a staggering $105 million, marking a significant milestone. Due to inventory shortages, Aspen's trophy homes command top-dollar prices.

Company News

XEROF is a Festival Partner for Web Fest 2023

XEROF is pleased to announce that we will be the Festival Partner at Swiss Web Fest 2023. This event emerged following successful ecosystem evenings hosted by Crypto Oasis in Dubai and aims to mirror the lavish, exclusive gathering and deliver an unparalleled experience during the 5-day gathering. The festival offers various attractions, from music and lifestyle to curated roundtables.

Come and join us from September 12-17th in Zurich and Zug, Switzerland. You can also enjoy a FIVE hotel discount using the code CVCO23. Please click here for more information.

We look forward to meeting you at the event.