BlackRock’s ETF application, which is different from the past, crypto assets aim for Ethereum[Weekly Review: 6/17-6/23]| CoinDesk JAPAN

Just when I thought the market would continue to be in a tough situation for the time being due to the tightening of regulations in the United States, suddenly the news that BlackRock, the world’s largest asset management company, has applied for a “Bitcoin ETF”. My initial impression was “Why now?”, but the market took it positively and the Bitcoin price moved significantly.

BlackRock Bitcoin ETF Filing: Why Now?

“Why now?” was the first word that came to my mind, but when I calmed down and thought about it, Bitcoin was not mentioned in the SEC’s two major exchange lawsuits, and the lawsuit was against Bitcoin. The idea of ​​“plus” was getting stronger.

If you think about it, it’s the best timing. You must have been making preparations for a long time, but did you carefully assess the timing of your application? The world’s largest asset management company, for sure.

In addition, news of major financial institutions’ entry into crypto assets continued.

Bitcoin hits $26,300 after BlackRock ETF filing hits one-week high

Less than 24 hours after BlackRock, the world’s largest asset manager, applied for a Bitcoin exchange-traded fund (ETF), bitcoin (BTC) surpassed $26,000 on the 16th for the first time in a week. soared to a high value.

Professional Investor Interest in Crypto Assets Still High: Survey Report

Professional investor interest in crypto assets has not been affected by a crypto bear market or opaque regulatory regulations, according to Nomura Holdings’ digital asset subsidiary Laser Digital. A survey revealed.

BlackRock’s Bitcoin ETF Application Is Different

On the 15th, BlackRock, a major asset management company, filed an application with the U.S. Securities and Exchange Commission (SEC) for the Bitcoin ETF (Exchange Traded Fund) “iShares Bitcoin Trust”, which is a “surveillance-sharing agreement” between exchanges. The mechanism of “sharing agreement” may be more advantageous than the application of other management companies.

GBTC discount rate shrinks ──BlackRock Bitcoin ETF application the day before

The discount rate for Grayscale Bitcoin Trust (GBTC), the world’s largest listed bitcoin fund, shrunk on June 16 to its lowest level in nearly a month. On the 15th of the previous day, BlackRock, a major asset management company, applied to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin ETF (Exchange Traded Fund).

Deutsche Bank applies for crypto custody license

Deutsche Bank, a major German bank, announced on June 20 that it had applied to develop a crypto asset (virtual currency) custody business in Germany.

“BlackRock Pivot” Continues: Bitcoin Prices and Trading Volume Rise

Bitcoin (BTC) has a bullish signal in multiple technical indicators. The “BlackRock Pivot” (Bitcoin price reversal due to BlackRock’s bitcoin ETF filing) extended to Day 7.

GBTC Soars, Discount Rate Shrinks to Multi-Month Level: Optimism on BlackRock ETF

The price of Grayscale Bitcoin Trust (GBTC), the world’s largest listed Bitcoin fund, continued to rise on the morning of June 20. The discount rate shrunk to 33%, the lowest since September last year, and below the 34% recorded in early March.

Bitcoin: From below $25,000 to above $30,000

Weekly Review did not publish many articles on price movements, but Bitcoin has made a big move this week. Look back at your movements.

Bitcoin’s Liquidity Drops – Evidence of Accumulation by Long-Term Investors

Glassnode’s illiquidity supply volatility indicator measures the number of coins held by illiquidity wallets compared to the same day of the previous month. 3.9 billion dollars, about 552 billion yen), the highest since December 19. The total number of Bitcoins held by illiquid entities jumped to a record high of 15,207,843 BTC, an increase of 215,000 BTC over the past four weeks.

Bitcoin soars to $28,000 in biggest short squeeze of the month

Bitcoin (BTC) rose above $28,000 on June 20 afternoon, triggering the biggest short squeeze of the month.

Bitcoin Led Cardano And Ethereum Soar; Short Traders Lose $125 Million

Coinciding with the rise of Bitcoin (BTC), major crypto assets (virtual currencies) such as Cardano (ADA) and Ethereum (ETH) surged 7%, one of the biggest one-day gains this month.

Bitcoin Moves Suggest Continued Rise to $30,400: Analyst

Bitcoin (BTC) is up nearly 10% this week, breaking through the trendline and 50-day simple moving average that characterize the two-month downtrend.

Bitcoin surpasses $30,000 for the second time this year ── TradFi entry boosts

Bitcoin (BTC) surpassed $30,000 for the second time this year on the 21st. Bullish sentiment has spread in the market as many TradFi (traditional finance) players are making inroads into crypto assets (virtual currencies).

Short traders suffer biggest losses since April as bitcoin surges

CoinGlass data shows $178 million worth of cryptocurrency bets were liquidated in 24 hours, the biggest single-day loss for short traders since April. rice field.

Bitcoin surges above $30,100 and takes a short break as investors focus on ETF outlook and macroeconomic data

Bitcoin (BTC) rose for a second straight day after asset management giant BlackRock filed for a Bitcoin exchange-traded fund (ETF), but is now taking a break.

Ethereum: Separate from Altcoins?

“Altcoin” means cryptographic assets other than Bitcoin, but Ethereum is completely different. The US article also uses the expression “Bitcoin, Ethereum, Altcoin”.

Major Cryptocurrency Aims for Ethereum: JP Morgan

The release of the “Hinman documents” in the US Securities and Exchange Commission (SEC) lawsuit against Ripple could boost Ethereum (ETH) and trigger a move to become more diversified in the cryptocurrency market. is high. JPMorgan Chase said in a June 15 research report.

Ethereum Developers Propose Raising Validator Requirements – From 32 ETH to 2048 ETH, a 64-fold Increase

With growing interest in becoming validators on the Ethereum blockchain and longer waiting times to set up, developers are considering raising the current requirements significantly.

Regulation: Opportunity for Japan

If regulations in the United States are strengthened and stablecoins are the next target, there will be more opportunities for Japan, where the revised Payment Services Act came into effect this month. Bloomberg reports that Mitsubishi UFJ Financial Group (MUFG) is working with multiple domestic and foreign companies. Is that stablecoin the “outside” of Japan and overseas?

‘Regulation by Enforcement’ Is an Overused Boiler: SEC Enforcement Director

“Regulation by enforcement” is “a catchy but overused cliché used effectively by cryptocurrency market participants and lobbyists,” said the head of the U.S. Securities and Exchange Commission’s (SEC) Enforcement Division. said on June 16.

Stablecoins and DeFi are SEC’s next targets, according to German investment bank

Stablecoins and decentralized finance (DeFi) are likely to be the next targets in the U.S. Securities and Exchange Commission (SEC) crackdown on the cryptocurrency industry, according to German investment bank Berenberg. said in a survey report dated June 20.

Ripple Receives Basic Approval for Payment Institution License in Singapore

Ripple announced today that it has obtained basic approval for the Major Payments Institution License from the Monetary Authority of Singapore (MAS).

CBDC, RWA Tokenization, Web3

Overshadowed by the big news, CBDC, RWA Tokenization and Web3 also had some interesting news. In particular, how will the alliance between Mitsui & Co. and Animoka develop?

Successfully tested 30+ CBDC use cases including offline payments – BIS and Bank of England

In the experiment, the London Innovation Hub of the Bank for International Settlements (BIS), which bundles the world’s central banks, and the Bank of England, used 33 developed an application programming interface (API) for

Partnership with Mitsui & Co., Animoka Brands

Mitsui & Co. announced on June 19 that it has signed a memorandum of understanding on a capital and business alliance and a strategic partnership with Animoca Brands, a major web3 company.

Tokenization of Real Assets Offers $5 Trillion Opportunity: Bernstein

The benefits of tokenization are simple, the process will result in operational efficiencies, increased liquidity and accessibility, investment firm Bernstein said in a research report dated June 20.

Nike collaborates with popular game “Fortnite” to develop “Airphoria”

Nike’s Web3 platform ‘.SWOOSH’ has partnered with popular online game ‘Fortnite’ to launch ‘Airphoria’, a new virtual experience that rewards players with digital sneakers. With over 240 million users logged into Fortnite in the last 30 days, .SWOOSH will see a huge number of users.

Two last ones for this week…

Two articles that caught my attention this week. After all, I am concerned about the movement in Asia. It will be interesting to see how the super app “Grab” commits to crypto assets.

Gemini plans to expand in Asia-Pacific – seizing ‘the next wave of growth’

Cryptocurrency exchange Gemini plans to expand in Asia Pacific (APAC), a region that will drive the “next wave of crypto growth.”

Singapore Financial Regulatory Authority Proposes Common Protocol for Digital Money – Amazon, Grab and Others Collaborate

The Monetary Authority of Singapore (MAS) has proposed standards for using digital money such as central bank digital currencies (CBDC) and tokenized bank deposits on distributed ledgers.

Until recently, it was said that “this winter will be prolonged.” It’s still winter, but there’s no shortage of news. The long article on “XRP Army” that I told you last week, I was pushed out by the sudden news…

｜Text and editing: Takayuki Masuda
｜Image: Shutterstock