Although the week started on a negative tone due to news that FTX received approval from a US bankruptcy court to sell its crypto holdings, markets recovered to end the week on the positive side with the Nasdaq Crypto Index (NCI) increasing 2.3%, Bitcoin (BTC) leading the way with a 3.1% increase and Ether up 0.9%. 

Franklin Templeton joins spot bitcoin ETF race

Franklin Templeton, one of the world’s largest asset managers, is following other leading institutions aiming to attract substantial institutional investment and potentially inject trillions into the crypto market. This news reassures our view that institutional adoption continues at full steam.

 

Deutsche Bank gets into crypto custody, tokenization

German giant Deutsche Bank has announced a strategic collaboration with Taurus, a Swiss digital asset infrastructure provider, to create a solution for crypto custody and tokenization. Deutsche joins other traditional financial institutions like Standard Chartered, BNY Mellon, and Société Générale, all of which have already ventured into offering crypto custody.

 

Telegram adds self-custodial crypto wallet worldwide, excluding the US

Telegram unveiled a self-custodial crypto wallet designed to work seamlessly with The Open Network (TON) blockchain and was developed by Open Platform, a company associated with the TON ecosystem. Notably, this new wallet release follows Telegram's earlier custodial wallet, which boasted three million users, and steps forward in bringing crypto access to the broader public through well-established Web2 applications.

 

CFTC charges DeFi protocols with violating AML rules, operating without licenses

Last week, the CFTC charged three decentralized platforms – ZeroEx, Opyn and Deridex – with offering illegal derivatives trading. These actions will hopefully encourage deeper discussion around to what extent decentralized applications can be regulated.

 

From Hashdex: Bitcoin’s link between low volatility and outsized returns

Our research team draws very interesting conclusions about bitcoin’s periods of low volatility, including the one we are in right now. Although rare, these low volatility periods have led to above-average returns. And in some cases, significantly outsized returns.

_____________________________________________________________

_{This material expresses Hashdex Asset Management Ltd. and its subsidiaries and affiliates (“Hashdex”)'s opinion for informational purposes only and does not consider the investment objectives, financial situation or individual needs of one or a particular group of investors. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing their funds. The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction. No part of this material may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Hashdex. By receiving or reviewing this material, you agree that this material is confidential intellectual property of Hashdex and that you will not directly or indirectly copy, modify, recast, publish or redistribute this material and the information therein, in whole or in part, or otherwise make any commercial use of this material without Hashdex’s prior written consent.} 

_{Investment in any investment vehicle and cryptoassets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicles will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Hashdex s investment methodology or that investing any of the protocols or tokens listed in the Information may be considered “conservative,” “safe,” “risk free,” or “risk averse.”}

_{Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex, and Hashdex does not assume responsibility for the accuracy of such information. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue”  “believe” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or digital tokens may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward- looking statements in making their investment decisions. None of the information contained herein has been filed with the U.S. Securities and Exchange Commission or any other governmental or self-regulatory authority. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein.}