SEC to Approve Ethereum Futures ETFs

Dear Readers,

Welcome to the latest instalment of XEROF’s weekly newsletter. In this edition, our European research desk reports on the week’s biggest updates in the digital currency and luxury real estate sectors.

Our cryptoasset news stories this week are as follows:

• SEC Likely to Greenlight Ethereum Futures ETFs by October
• Ripple and ConsenSys Join Mastercard CBDC Program 
• Asia Enhances Cryptoasset Transparency Amid US Regulatory Ambiguity

We also feature the latest developments in luxury real estate, including:

• Australia’s Luxury Real Estate Market Sees Growth in 2023
• Omaha's Upscale Housing Sector on the Rise
• Rising Popularity of Ultra Luxury Homes in India

Cryptoasset News

The SEC is Likely to Greenlight Ethereum Futures ETFs by October

The US Securities and Exchange Commission (SEC) is reportedly set to greenlight Ethereum futures exchange-traded funds (ETFs) in the coming months. According to Bloomberg, the regulator is unlikely to block the applications of twelve companies seeking to launch Ethereum futures ETFs. While it is unclear which ETF applications will be approved, officials have reportedly indicated that some filings could receive approval as early as October. XEROF notes that although the SEC may approve Ethererum Future ETFs, it still has not approved any spot cryptoasset ETFs.

Ripple and ConsenSys Join Mastercard CBDC Program 

According to Cointelegraph, Mastercard is establishing a program for central bank digital currencies (CBDCs) together with Ripple and Consensys. In a recent announcement, Mastercard revealed its intention to bring together a consortium of blockchain and payment service providers to engage in this program and to encourage cooperation among stakeholders within the CBDC landscape. XEROF highlights Ripple's growing CBDC involvement recently, aiding central banks' goals in this emerging field.

Asia Enhances Cryptoasset Transparency Amid US Regulatory Ambiguity 

Amid US regulatory uncertainty, Asia advances cryptoasset transparency, attracting more investors. The Asian region has notably outpaced the US in swiftly establishing digital currency regulations with greater transparency, solidifying its status as a fintech innovation leader. In addition, Hong Kong has expanded cryptoasset trading for retail investors, enhancing its pro-cryptoasset stance. XEROF foresees increased investor confidence, positioning Hong Kong as a global digital asset hub.

Luxury Real Estate News

Australia’s Luxury Real Estate Market Sees Growth in 2023

Australia has seen a growth in demand for luxury real estate this year, with cities such as Melbourne and Brisbane and suburbs such as Kew and Hawthorn driving sales upward. According to Knight Frank’s “Australian Industrial Review Report” for Q2 2023, industrial vacancies in Australia’s eastern seaboard cities are much lower than a year prior, with only 526,806 sqm of vacancy left. Melbourne and Brisbane experienced a 19.5% increase in available real estate and industrial space during the quarter.

Omaha's Upscale Housing Sector on the Rise

The luxury housing market in Omaha is experiencing a significant boom, with demand for high-end properties rising. According to a recent report, 18 homes valued at seven figures each went under contract within Douglas County last month. Additionally, during July 2023, Omaha's home prices rose by 3.8% from the previous year. On average, homes in Omaha now sell after eight days on the market, slightly extended from last year's seven-day average.

Rising Popularity of Ultra Luxury Homes in India

India's high-end real estate sector has witnessed an impressive revival, with an astonishing 130% surge in luxury property sales during the first half of 2023 compared to the previous year. Recent data from CBRE South Asia reveals that 6,900 luxury residences were effectively transacted between January and June, marking a substantial rise from the 3,000 units sold in 2022.