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Brazil’s Blockchain ID, UBS on Ethereum, and ether futures ETFs slow start

The Hash Insider

Uptober” remains on a positive note as the NCI closes the first week up 1.1%, driven by bitcoin (BTC), which was also up 1.1%. Ether (ETH) fell 2.4%.



Brazil develops blockchain network to support ID rollout

Brazilian authorities unveiled plans to introduce a digital identification system for their citizens, leveraging blockchain technology. The initial rollout will feature three states (including Rio) issuing digital ID documents using a specialized private blockchain created by Serpro, Brazil's national data processing service. The intention is for the entire nation to adopt this innovative system by November 6th, solidifying Brazil's position as a global leader in crypto adoption.


UBS taps Ethereum to pilot tokenized money market fund

UBS has launched a live pilot of a tokenized money market fund on Ethereum as part of Project Guardian, a collaborative effort led by Singapore's Monetary Authority. This initiative represents UBS's foray into the world of tokenized funds and will serve as a testing ground for conducting fund-related activities on the blockchain. 


Ether futures ETFs have a quiet first week 

The launch of several ether futures ETFs last week drew much excitement, but relatively limited new assets. The slow start could be a result of the anticipation of a spot ether ETF in the not-too-distant future, given that most investors prefer spot products. 


From Hashdex: Crypto dodges the September effect

The “September effect” of declining equity market performance did not carry over to crypto, as the Nasdaq Crypto Index rose 2.4% during the month. Read more about what October may bring in our monthly letter.



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