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DigitalX Weekly Crypto Update: Market Trends and Analysis
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DigitalX Weekly Crypto Update: Market Trends and Analysis
Market Commentary
After briefly surpassing US$64,000, Bitcoin’s price has continued to decline throughout the week amid escalating geopolitical tensions and a more hawkish stance from the Fed, driven by stronger-than-expected economic data. As a result, digital asset investment products saw global net outflows of US$147 million last week, ending a three-week inflow streak, according to CoinShares. Additionally, the US-based Ethereum ETFs reported zero flows on Monday, only the second time this has occurred since their launch in late July.
The National Bank of Bahrain rolled out its first Bitcoin investment fund. In partnership with digital asset firm ARP Digital, this product is designed for institutional investors to gain exposure to Bitcoin – with 100% loss protection on the downside – based out of the Middle East’s Gulf Cooperation Council, including but not limited to: Bahrain, Qatar, Saudi Arabia and the UAE. According to Crypto.com’s COO Eric Anziani, Bahrain has created an “innovation-friendly crypto and fintech ecosystem… putting in place clear regulation that balances customer protection with commercialisation.”
State Street is developing tokenised bond and money market fund products but is not planning to launch a stablecoin in the near future. This decision is driven by the continued uncertainty surrounding digital asset regulation and intense competition from groups such as Circle. Instead, the focus is on creating tokenised collateral, enabling traders to use these assets as margin without needing to liquidate their holdings to post cash.
CRYPTO TOP 20 7 DAY PRICE CHANGE
*All figures throughout are in USD unless otherwise specified
Market Updates
The Shift List
Tinkering with Tokenisation
Macro and Regulatory Environment
About DigitalX
DigitalX Ltd (ASX:DCC) is a leading ASX-Listed Bitcoin and digital asset funds management business. The Company has a 9 year track record mining Bitcoin, blockchain and smart contract development. DigitalX Asset Management is the investment manager of digital asset investment products that provide qualified investors with highly secure and streamlined access to digital asset exposure. To learn more contact the team at [email protected] or visit our website https://digitalx.fund/.
Disclaimer:
The information in this document is prepared by DigitalX Asset Management Pty Ltd (ACN 629 653 121) (DigitalX).
DigitalX is a corporate authorised representative (CAR) (CAR No. 1270748) of Boutique Capital Pty Ltd (AFSL 508011) and True Oak Investments Ltd (AFSL 238184). Boutique Capital is the Trustee of the DigitalX Fund and the DigitalX Bitcoin Fund. True Oak Investments is the Trustee of the DigitalX Asset Reference Token Fund (DxART). All three funds are open to wholesale investors only.
DigitalX is also a corporate authorised representative (CAR) of K2 Asset Management Ltd (ABN 95 085 445 094 AFSL 244 393) (K2), a wholly owned subsidiary of K2 Asset Management Holdings Ltd (ABN 59 124 636 782). K2 is the Responsible Entity and Issuer of the DigitalX Bitcoin ETF (ASX: BTXX) (ARSN 650 945 216) which is open to retail investors. Offers to invest in the DigitalX Bitcoin ETF (BTXX) will only be made in the product disclosure statement (PDS) and this material is not intended to substitute the PDS which outlines the risks involved and other relevant information. You should also consider the Target Market Determination (TMD) issued when ascertaining if the product is appropriate for your needs. A PDS & TMD for BTXX can be obtained at https://www.digitalx.com/funds/bitcoin-etf/. You should consider the PDS & TMD before making a decision to acquire an interest in BTXX.
The information herein is presented in summary form and is therefore subject to qualification and further explanation. The information in this document is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking into account personal investment objectives, financial circumstances or particular needs. Recipients of this document are advised to consult their own professional advisers about legal, tax, financial or other matters relevant to the suitability of this information. Past performance is not indicative of future performance.
