Dear Readers,
The latest edition of XEROF's weekly newsletter focuses solely on the biggest news stories in cryptoassets and offers exclusive insights from XEROF’s research team.
Our top crypto news stories this week are as follows:
👉iShares Ethereum Trust: BlackRock Goes All In On Cryptoasset Investments - - read here
👉Cryptoasset Resurgence: Bitcoin's Rally Spurs Shift Toward Options Trading - read here
👉Cardano and Solana Lead Cryptoasset Growth Despite Short-Term Divergences - read here
👉VALR and Luno Partner to Enable Bitcoin Payments at Pick n Pay in South Africa - read here
👉Milei's Victory: Argentine Peso Plummets Over 140%, Bitcoin Praise Amidst Presidency - read here
👉Next Phase: HKMA's Vision for Digital Hong Kong Dollar Applications - read here
iShares Ethereum Trust: BlackRock Goes All In On Cryptoasset Investments
BlackRock recently filed for a spot Ethereum exchange-traded fund (ETF), reinforcing its cryptoasset investments amid positive investor sentiment for ETF approval. The iShares Ethereum Trust, registered last week and pending listing on the stock market, allows investors direct access to ETH without owning it. XEROF adds that BlackRock aims to convert the trust into a "spot" ETF, making it possible to own ETH instead of futures tied to the cryptoasset token. Learn more here: https://reut.rs/3QKUZe9
Cryptoasset Resurgence: Bitcoin's Rally Spurs Shift Toward Options Trading
On Wednesday, BTC options reached $17.5 billion globally in notional open interest, surpassing futures at $15.84 billion. The cryptoasset market's resurgence, driven by Bitcoin doubling in value and spot ETF excitement, has shifted focus to options trading. XEROF remarks that, currently, BTC options' open interest exceeds that of futures, indicating a growing preference for this cost-effective way to speculate on price movements. Want to know more? Read here: https://bit.ly/3QIh0dw
Cardano and Solana Lead Cryptoasset Growth Despite Short-Term Divergences
Wednesday saw a 4.6% surge in the cryptoasset market, reaching $1.44 trillion, hitting highs not seen since May 2022. Bitcoin and various altcoins regained last week's peak levels; Cardano and Solana led the growth. XEROF comments that despite short-term market divergences, the cryptoasset and equity markets have steadily risen since October. Furthermore, in Q3, the cryptoasset market remained resilient with consistent investment volume, as reported by Binance Research; in addition, gaming projects, payment systems, and trading platforms attracted the most venture capital funds. Read more: https://bit.ly/46qTO9B
VALR and Luno Partner to Enable Bitcoin Payments at Pick n Pay in South Africa
VALR and Luno have teamed up with CryptoConvert, enabling Bitcoin payments through their apps at all Pick n Pay tills in South Africa with a single QR code scan. The CryptoQR platform is now active at over 1,500 Pick n Pay stores, allowing users to purchase airtime, electricity, and tickets and pay bills with Bitcoin. XEROF notes that the Financial Sector Conduct Authority's recognition of cryptoassets as financial products is a significant step toward increased adoption in South Africa. See here: https://bit.ly/47yEEQy
Milei's Victory: Argentine Peso Plummets Over 140%, Bitcoin Praise Amidst Presidency
Javier Milei secured the Argentine presidency with 55% of votes in the national runoff. He takes office on December 10th amidst soaring inflation, eroding citizens' purchasing power. Despite not proposing Bitcoin as a legal tender, Milei praises it for returning money creation to the private sector; XEROF adds that the Argentine peso experienced a loss of over 140% against the U.S. dollar in the last year. See more here: https://yhoo.it/3SSv2Mw
Next Phase: HKMA's Vision for Digital Hong Kong Dollar Applications
The Hong Kong Monetary Authority (HKMA) plans to advance the second phase of its digital Hong Kong Dollar project in 2024. The upcoming phase will explore innovative applications, assess the digital currency's impact on everyday transactions, and foster collaborations with banks and fintech firms. XEROF expects the e-HKD to enhance the retail payment ecosystem with features like programmability and tokenisation. Learn more https://bit.ly/3SOLH3i
Sincere Regards,
Marc Taverner
CEO and co-founder of XEROF
About XEROF
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