20 Oct 2021 · 4 min read
New Options For Bitcoin Traders, Cboe Buys Crypto Exchange + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- The new bitcoin (BTC) exchange-traded fund (ETF) creates more options for crypto leverage, as options on the ProShares Bitcoin Strategy ETF begin trading on the NYSE Arca Options and NYSE American Options exchanges on Wednesday, per Bloomberg. Investors will now be able to hedge or lever up underlying positions in the first US-listed fund tracking futures on BTC. Traders -- whether or not they hold the fund -- can bet on or against BITO by buying and selling bullish call contracts or bearish puts, per the report.
- Market infrastructure provider Cboe Markets announced it has entered into a definitive agreement to acquire crypto exchange Eris Digital Holdings (ErisX). The ownership of ErisX presents an opportunity for them to enter the digital asset spot and derivatives marketplaces through a digital-first platform, they said.
- Financial services group Nomura Holdings has announced that it has agreed to a third party allocation of shares from blockchain services provider Crypto Garage Inc. As part of its investment, Nomura will work with the company to support the development of the Crypto Garage platform for institutional investors.
- Crypto-focused hedge fund Multicoin Capital is planning to raise USD 250m for its third venture fund to back crypto startups, The Information reported. The fundraiser should be completed by the end of this year.
- Digital Currency Group (DCG), the parent company of Grayscale Investments, said it has authorized the purchase by DCG of up to a total of USD 1bn worth of shares of Grayscale Bitcoin Trust (GBTC). This increases DCG’s prior authorization to purchase up to USD 750m worth of shares of GBTC by USD 250m.
- Animoca Brands has announced that it has closed a capital raise for USD 65m conducted at a pre-money valuation of USD 2.2bn. The new capital will be used to fund strategic investments and acquisitions, product development, and licenses for popular intellectual properties, they said.
- Decentralized finance (DeFi) protocol Element Finance announced a Series A funding round worth USD 32m at a USD 320m valuation. The funding round will help them scale the team and continue their work, the team added.
- Enterprise crypto asset data provider Lukka has announced that it has acquired crypto accounting, tracking and management software firm Blox Finance. The deal expands Lukka’s footprint of data management software and increases the firm’s coverage in addition to and adding more redundancy to existing data sets enabling more advanced risk processes that will support Lukka’s already established institutional customer base.
- Asset management company Purpose Investments announced the filing of a preliminary simplified prospectus and annual information form with the Canadian securities regulators in connection with the proposed launch of their actively managed cryptocurrency ETFs. The new crypto ETFs include Purpose Crypto Opportunities ETF, Purpose Bitcoin Yield ETF, and Purpose Ether Yield ETF.
- Crypto index fund manager Bitwise has announced the launch of their Bitwise Polygon (MATIC) Fund, offering investors exposure to the asset through a professionally managed investment product. The new fund is currently available to accredited investors for private placement subscriptions with a USD 10,000 minimum investment and weekly redemptions.
- Digital asset trading platform OSL has announced that it has enabled access to its exchange to professional and institutional customers in Latin America, with "zero trading fees" until the end of the year.
- Gemini has announced Gemini Earn for their Hong Kong users, which, according to the company, lets clients earn up to 8.05% annual percentage yield (APY) while being able to move or redeem their crypto at any time, with no minimums and no fees for redeeming.
- Coinbase and the US National Basketball Association (NBA) have announced a multiyear partnership that makes Coinbase the exclusive crypto platform partner of the NBA, Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League and USA Basketball.
- Crypto lending platform Celsius (CEL) said that they have not received a cease-and-desist order from New York state regulators and that they’re working closely with them. They have received a request for information instead, and expect other US states to reach out as well, adding that “increased regulatory interest is not unique to Celsius.”
- David Pike, a 61-year-old from Florida, has admitted to conspiring to defraud a bank as part of a USD 4bn Ponzi scheme based on the fraudulent cryptocurrency OneCoin, according to Bloomberg. He is facing as long as five years in prison when he’s sentenced in January.
- Formula 1 McLaren Racing has announced the launch of McLaren Racing Collective, a platform where fans and collectors can purchase McLaren Racing digital collectibles or non-fungible tokens (NFTs). The first drop will allow fans and blockchain enthusiasts alike to purchase different components of the MCL35M 2021 Formula 1 race car built from official McLaren Racing CAD, and the first digital component will be gifted for free for the first 5,000 fans who join the collective platform.