Blockchain
Advisors ‘wary’ of bitcoin ETFs are on a slow adoption journey, says BlackRock exec
The highly anticipated launch of bitcoin exchange traded funds (ETFs) finally occurred in January, with financial advisors gradually beginning to incorporate them into their strategies, according to Samara Cohen from BlackRock.
Currently, approximately 80% of bitcoin ETF purchases are believed to originate from “self-directed investors who independently allocate funds, often through online brokerage accounts,” Cohen noted during her speech at the Coinbase State of Crypto Summit in New York City. One of the funds introduced earlier this year was the iShares Bitcoin Trust (IBIT).
Cohen, who serves as BlackRock’s chief investment officer for ETF and index investments, highlighted that while hedge funds and brokerages have also shown interest, registered investment advisors have approached the new products with more caution.
Recently, CNBC surveyed its Advisor Council to understand their reservations about these new products. Reasons for caution ranged from bitcoin’s well-known price volatility to its status as a relatively new asset class lacking an established track record. Concerns also included regulatory compliance and the cryptocurrency’s history of fraud and scandals.
“It’s fair to say they are cautious – it’s their responsibility,” Cohen commented on the advisors’ skepticism. “Investment advisors are fiduciaries to their clients,” she added. “With bitcoin’s history of extreme price volatility, advisors are currently engaged in portfolio construction, rigorous risk analysis, and due diligence.”
Cohen sees bitcoin ETFs as a pivotal link between cryptocurrency and traditional finance, especially appealing to investors looking to allocate funds to bitcoin without navigating separate financial ecosystems. She noted that prior to ETFs, existing avenues into crypto were inadequate for many investors’ needs.
Alesia Haas, CFO of Coinbase, described bitcoin’s adoption as a gradual process, a sentiment echoed throughout the conference sessions. Blue Macellari, head of digital assets strategy at T. Rowe Price, highlighted the cautious yet evolving approach to integrating bitcoin into portfolios, noting that for many, adopting cryptocurrencies represents a significant shift in investment strategy that requires time and careful consideration.
Source: cnbc.com
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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