TradFi Giant Direxion Joins Crypto ETF Race by Filing for Combined Bitcoin and Ether Futures Fund
The move comes the same week that six other companies filed to launch ether futures ETFs. Source
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TradFi
Chainlink launches cross-chain protocol bridging blockchain to TradFi
The development firm behind the Chainlink protocol and its native LINK token has gone live with its cross-chain protocol, aimed at providing interoperability between traditional financial firms and both public and private blockchains.In a July 17 post on the Chainlink blog, Chainlink Labs' Chief Product Officer Kemal El Moujahid announced that
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Tokenized U.S. Treasurys Surpass $600M as Crypto Investors Capture TradFi Yield
Crypto investors now effectively lend $614 million to the U.S. government via different tokenized Treasury products, according to real-world asset data firm RWA.xyz. Source
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GBTC Bitcoin Trust Volume Increases 79% in June Amid TradFi ETF Applications
Compared with Grayscale’s ETHE trust, GBTC’s volume significantly outperformed in trading volume. Since September, GBTC's trading volume rose from $35.6 million to $45 million in June 2023, capturing 74% of the total trading volume for trust products, compared to 50.9% in September. ETHE's volumes declined from $31 million in September
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A Wealthy Mideast Capital Creating a Bridge From TradFi to Crypto
The United Arab Emirates’ hubs of Abu Dhabi and Dubai had identical scores for crypto regulatory structure and crypto adoption, two of the most heavily weighted criteria in the ranking overall. But while the UAE’s regulatory structure is top tier – and accounts for 35% of its total score –
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Banking is ‘slowly dying’ — Former TradFi execs on reasons for joining crypto
Despite plenty of regulatory action in the United States and an ongoing crypto winter, former TradFi executives, now in crypto, said there’s no desire to return to their old banking livesInstead, former traditional bankers who’ve pivoted to crypto remain bullish about the industry's future and love the fact they can
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Bitcoin (BTC) Breaks $30,000 Amid TradFi Push Into Crypto
The cryptocurrency's rally comes as several TradFi giants including BlackRock, Invesco and WisdomTree filed for spot bitcoin ETF applications. Meanwhile, EDX crypto exchange, which is backed by major TradFi players, also launched on Tuesday. The exchange is backed by Fidelity Digital Assets, Charles Schwab and Citadel Securities and will offer
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BTC Price Rallies as TradFi Players Jump Into Crypto
Bitcoin, the world’s largest cryptocurrency by market value, rallied over the past 24 hours after various traditional finance firms announced moves into the crypto market, indicating bullish sentiment. Bitcoin jumped 8% on the day, pushing it to $28,800, after trading flat for the last few days at around $26,800. Altcoins
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Deutsche Bank Applies for Digital Asset License in Germany as TradFi Pushes Further Into Crypto
The digital asset custody platform, which Deutsche Bank said at the time would be launched in stages, would eventually allow users to buy and sell digital assets through prime brokers and even provide services such as taxation, valuation services and fund administration, lending, staking and voting, and more. Original Source
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Investors want crypto, but not without TradFi backing: Nomura survey
Professional investors are still keen on crypto but want to see backing from large traditional financial institutions before taking the plunge themselves, a survey from Nomura’s digital asset arm has revealed. Institutional investor interest in crypto has stalled in recent weeks due to increasing regulatory uncertainty in the United States
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