• Cryptocurrency investment products have seen significant gains in fund inflows over the past year
CoinShares, a European asset management company, has announced record inflows into its cryptocurrency investment products since July 2022. Last week alone, $199 million dollars was invested in these funds.
Bitcoin received the largest portion of these gains thanks to firms CoinShares and Grayscale, which brought in $188 million last week. Ethereum also saw inflows of $7.8 million.
According to CoinShares, total assets managed by the funds now stand at $37 billion, the highest since the collapse of 3 Arrows Capital.
• HSBC, Hong Kong's largest bank, will allow customers to trade bitcoin and ether-based ETFs HSBC
The Hong Kong branch of the British banking group and the largest bank in China's Special Administrative Region, has announced that its customers will now be able to trade exchange-traded funds (ETFs) based on Bitcoin and Ether. Local journalist Colin Wu reported the news on his Twitter page on June 26.
According to the announcement, HSBC's offer will only apply to cryptocurrency ETFs listed on the Hong Kong Stock Exchange. At the time of writing, there are three cryptocurrency ETFs listed on the exchange, including the CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF and Samsung Bitcoin Futures Active ETF.
• The level of "bitcoin-kits" has decreased by 23% since the beginning of 2021
Since the beginning of this year there has been a decline in the number of large holders of Bitcoin, known as "bitcoin-kits" with balances over 1,000 BTC. The decline has amounted to 23% of the historical peak reached at the beginning of the year. This indicates changes in the distribution of significant bitcoin holdings and possible shifts in the positions of cryptocurrency owners. Such a trend could indicate sales by large holders or a redistribution of assets between different market participants. These changes in the structure of "bitcoin whales" may have an impact on market liquidity and investor perception.
• South Korea passed the first bill to regulate cryptocurrencies
South Korea has passed a bill aimed at regulating cryptocurrencies in the country. The bill brings together 19 separate bills covering various aspects related to cryptocurrencies. It includes measures aimed at regulating taxation, penalizing market manipulation, combating unfair trading and other violations related to cryptocurrency transactions.
The main goal of this bill is to create a transparent and stable environment for the development of the cryptocurrency market in South Korea. It aims to protect the interests of investors, prevent fraud and unfair practices, and enforce cryptocurrency laws and regulations. The passage of this bill is an important step for the South Korean government in developing its cryptocurrency industry. It shows that it takes the challenges associated with cryptocurrencies seriously and seeks to ensure stability and sustainability in this area.
• The development team at fintech company Ripple has unveiled a new Crossmark wallet for XRP cryptocurrency as part of the XRP Ledger network ecosystem.
This innovative browser-based wallet, similar to MetaMask, is the first of its kind for XRP Ledger and supports a wide range of features and transaction types. The Crossmark extension is expected to be available for use in popular browsers such as Chrome, Opera and Firefox and its interface will resemble ConsenSys' MetaMask application.
One of the features of Crossmark is its integration with the XUMM mobile wallet, which is also designed to store XRP. In the future, the developers plan to expand integration with other solutions such as Gem Wallet and Ledger. However, it should be noted that there are currently no tools for interoperability between different wallets on XRP Ledger, according to a statement from the programmers.
Crossmark is currently in an early testing phase with limited users and some features are not yet enabled. The development team plans to release the final version of the wallet in the "coming months", after finalizing and adding the planned features. This is an important development for the XRP Ledger community and could attract new users to the Ripple ecosystem.