Cryptocurrency hedge fund Arca has filed with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin trust product.

JPMorgan has become the latest Wall Street firm supporting bitcoin as part of a multi-asset portfolio.

Cryptocurrency custodian and banking firm Anchorage has announced that it raised $80 million in a Series C funding round led by Singaporean sovereign wealth fund GIC. The round also included a16z, Blockchain Capital, and Indico.

Sponsored: Hashbon, established in 2016, is a B2B/B2C payment service provider, compliant with the European KYC policies. The platform supports over 30 cryptocurrencies and charges 0% commissions on all crypto payments. Buyers and sellers receive exactly the same amount of transferred funds, minus the compulsory mining fees, with no additional taxes or surcharges. 

Top stories in the Crypto Roundup today:

• Arca to Launch Bitcoin Trust to compete with Grayscale
• Bitcoin Could Make 1% of Investors’ Portfolios, JPMorgan Says
• Crypto Custodian Anchorage Raises $80 Million to Expand Digital Banking Services
• Sponsored: Hashbit`s HASH Token Listed On Coinsbit Today

Arca to Launch Bitcoin Trust to compete with Grayscale

Cryptocurrency hedge fund Arca has filed with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin trust product.

The product, which launches with $100,000 already sold, appears to be Arca’s first foray into bitcoin offerings. The firm’s previous products banked on small- to mid-cap cryptocurrencies and a U.S. Treasuries token called ArCoins, which served as a proof-of-concept for Ethereum-based securities.

The move will see Arca join a crowded field of asset managers looking for investors who want to gain exposure to the flagship cryptocurrency, without directly owning it or managing any private keys. BlockFi, Bitwise, CrossTower, and others have all made bitcoin investment vehicles this year.

Arca is taking investments of at least $25,000, while the minimum to invest in Grayscale’s Bitcoin trust is $50,000. Other details about Arca’s fund, including the annual fee, are not yet available.

Bitcoin Could Make 1% of Investors’ Portfolios, JPMorgan Says

JPMorgan has become the latest Wall Street firm agreeing with the idea that bitcoin could be used by investors to diversify their portfolios.

Strategists at the firm have touted the cryptocurrency as a way to hedge against significant fluctuations in traditional asset classes like stocks, bonds and commodities. JPMorgan recommended a small allocation that would not take too much of a hit even if BTC’s price drops suddenly.

The strategists including Joyce Chang and Amy Ho, wrote:

“In a multi-asset portfolio, investors can likely add up to 1% of their allocation to cryptocurrencies in order to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio.”

Roberto Perli and Benson Durham, former Federal Reserve economists, have run calculations and found that the volatility of equity portfolios can usually be reduced with some exposure to cryptoassets.

Crypto Custodian Anchorage Raises $80 Million to Expand Digital Banking Services

Cryptocurrency custodian and banking firm Anchorage has announced that it raised $80 million in a Series C funding round led by Singaporean sovereign wealth fund GIC. The round included a16z, Blockchain Capital, and Indico.

Anchorage is set to expand its custody and banking services among institutional customers with the cash. The company’s founders Diogo Mónica and Nathan McCauley wrote:

“This new round of funding will help us help institutions participate in new ways — by bringing crypto to their users, by diversifying their corporate treasuries, and by enabling a wide range of emerging use cases.”

Anchorage has recently become the first federally chartered digital asset bank, and will also be looking to scale its lending product and support new DeFi protocols. To date, it has raised $137 million.

Interactive Representation of Uniswap Liquidity Pools

Using data from Flipside Crypto's API, 0xdef1 created this UNI-VERSE to represent the size and activity of Uniswap liquidity pools. Pools that are closer together on the map have more transactions in common. Check it out: https://dyor.fi/uni-verse

Hashbit`s HASH Token Listed On Coinsbit Today

Hashbon, established in 2016, is a B2B/B2C payment service provider, compliant with the European KYC policies. The platform supports over 30 cryptocurrencies and charges 0% commissions on all crypto payments. Buyers and sellers receive exactly the same amount of transferred funds, minus the compulsory mining fees, with no additional taxes or surcharges. 

Integration of Hashbon`s payment solution is very simple which differentiates the platform even from the industry`s giants. Only one line of code is needed for the integration, which provides enhanced security features and transparency on transactions. Crypto-to-fiat conversions (EUR, GBP, CZK, PLN, CHF, HUF and etc.) or fiat-to-crypto takes seconds.

Аn additional benefit of Hashbon is the generation of electronic bills which can be sent via email or WhatsApp. Traditional payment systems such as SEPA, PayPal, Payoneer, Visa/MasterCard, Sofort, iDeal and others, can be used for transaction processing. For more details you can message us on our Telegram group.

The HASH Token

On the 4th of February, Hashbon released their utility token, the HASH token. It is compiled under the BEP-20 and ERC-20 standards. This means that the token will be available on both the Ethereum and Binance Smart Chain networks. As a utility token, HASH grants lower exchange rates to token holders on all transactions. 80% of the entire one billion supply will be available to the community for purchasing.

Coinsbit Listing

Hashbon`s utility token is planned for listing on Coinsbit this Friday, 26th February. Two available pairs will be available on the Coinsbit exchange for trading:

• Hash-USDT
• Hash-BTC

Coinsbit listing will be followed by a trading competition in March 2021, with very tempting rewards for the traders. To stay up to date with the announcements, please join Hashbon`s Telegram channel.

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