Last week’s crypto market prices rose by +3.27%. Volume increased by +14.75% while volatility fell by -82.34%.
Chart of the Week
Digital asset investment products saw inflows of US$326M, the largest single week of inflows since July 2022. By asset type, Bitcoin saw most of the inflows at US$296M, followed by Short Bitcoin, and Solana.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) rose by +1.3% and +5.2%, respectively, in the past seven days. Other selected top-cap tokens also mostly gained in price.
Selected key categories all increased in terms of market cap, in the past seven days.
News Highlights
The ticker for Invesco and Galaxy’s spot Bitcoin exchange-traded fund (ETF) — BTCO — has appeared on the Depository Trust and Clearing Corporation’s (DTCC) website, interpreted by some as a step forward in the application process. This follows the recent appearance of BlackRock’s spot Bitcoin ETF on the same website.
ProShares, a major issuer of exchange-traded funds (ETF), announced the launch of the world’s first short Ether-linked ETF. It will seek to obtain exposure through Ether futures contracts.
The Swiss National Bank (SNB) is working on a wholesale central bank digital currency (CBDC) pilot alongside the SIX Digital Exchange (SDX) and six commercial banks. The pilot, named Helvetia Phase III, will create a tokenised version of the Swiss franc as a settlement instrument between financial institutions for digital securities transactions on the SDX.
The UK governmentpublished its final proposals for the crypto ecosystem, saying it plans a phased introduction of regulation, with legislation for fiat-backed stablecoins being introduced early next year.
Switzerland’s St.Galler Kantonalbank (SGKB), one of the largest banks in the country, is moving into cryptocurrency by introducing Bitcoin and Ether trading to its customers.
The Securities and Futures Commission (SFC) of Hong Kong has issued two circulars to regulate digital asset tokenisation. The SFC considers tokenised securities as traditional securities with a tokenisation layer.
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Research Roundup Newsletter [September 2023]: We present to you our latest issue of Research Roundup, featuring trending market insights in September, charts of the month, and our insights on the Ethereum Dencun upgrade.
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What Are Bitcoin and Ethereum ETFs and How Do They Work?: Bitcoin and Ethereum ETFs are investment vehicles that track the price of BTC and ETH — and could bring increased liquidity, stability, and mainstream adoption to the cryptocurrency market.
Real-World Assets — Bringing Real-World Value to DeFi: Real-world assets (RWAs) utilise blockchain technology to track assets, with performance and valuation derived from sources outside the blockchain. Here’s how they work.
Catalyst Calendar
Author
Research and Insights Team
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Invesco and Galaxy’s spot BTC ETF appears on the DTCC website. ProShares launches the world’s first short ETH ETF. Swiss National Bank working on a wholesale CBDC pilot.
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