Category: Capital Markets

What the heck are tokenized stocks? And are they securities?

What the heck are tokenized stocks? And are they securities?

Quick Take Tokenized versions of shares in publicly listed companies have become popular products on a few crypto exchanges. How do they work? And why are regulators concerned about them? This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block. Get free Bitcoin Bitcoin […]

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Crypto stocks not coins: Bitwise kicks off trading in new crypto innovators ETF

Crypto stocks not coins: Bitwise kicks off trading in new crypto innovators ETF

An exchange-traded fund tracking 30 companies in the crypto market kicked off trading Wednesday on the New York Stock Exchange.  Per an announcement by asset management firm Bitwise, the so-called Bitwise Crypto Industry Innovators ETF (ticket: BITQ) tracks the performance of firms including Coinbase, MicroStrategy, and Galaxy Digital. The index is weighted by market cap, […]

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A closer look at the European Investment Bank’s first Ethereum-based bond

Quick Take The lending arm of the European Union recently issued a €100 million bond using the Ethereum public blockchain. The transactions were settled with the help of a short-lived supply of digital euros issued by France’s central bank. Two officials from the EIB spoke with The Block about how they designed the bond — […]

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Why Galaxy Digital bought BitGo

Quick Take Mike Novogratz, CEO of Galaxy Digital, sees custody as crucial to the “full stack” of crypto financial services. Acquiring BitGo also gives Galaxy the technical talent it needs to build its own blockchain applications, he says. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily […]

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Tiger Global and Coatue back Bitso in $250 million Series C

Crypto exchange Bitso has wrapped up a $250 million Series C fundraising round, joining the roster of newly minted crypto unicorns. Investment legends Tiger Global and Coatue Management co-led the round, which finished just a few months after Bitso announced its Series B. Bitso joins a fast-growing list of new crypto unicorns—including Paxos, BlockFi, and […]

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Swedish crypto broker Safello’s IPO oversubscribed by 1,240%

Swedish crypto broker Safello announced Wednesday that its initial public offering (IPO) has been oversubscribed by 1,240%. Safello had 40.5 million Swedish kronor (around $4.8 million) worth of new shares on the offer through the IPO, but it received bids for 502 million kronor ($59 million) worth of shares. The oversubscription means there was a […]

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Genesis quarterly report shows ‘relentless’ demand for dollars in crypto credit market

Since Genesis Global Trading launched a lending business in 2018, it has originated more than $40 billion loans — and that growth doesn’t appear to be slowing down.  The firm, which releases a breakdown of its business across trading, lending, and derivatives every quarter, saw active loans outstanding on its platform increase 136% relative to […]

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S&P’s new bitcoin, ether indexes could help banks move into the crypto market

S&P Dow Jones Indices, the firm behind the ubiquitous S&P 500, announced Tuesday the launch of three new crypto indexes. The launches lay the foundation of a business that can touch a wide range of financial services companies, according to S&P DJI global head of innovation Peter Roffman. The firm, formed by S&P Global in […]

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Coinbase set to acquire data and analytics platform Skew for undisclosed sum

Coinbase—the cryptocurrency exchange—announced Friday its first acquisition deal following its blockbuster direct listing earlier this month, revealing that it is set to scoop up data and analytics provider Skew for an undisclosed sum.  Coinbase, which began trading publicly on April 14, will plug Skew’s data, which spans derivatives and spot trading information, into its institutional […]

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