Goldman Sachs has restarted its cryptocurrency trading desk and is set to start trading bitcoin futures and non-deliverable forwards for clients next week.

CBOE global markets, the global equities and derivatives exchange, is seeking approval from the U.S. Securities and Exchange Commission (SEC) to list and trade VanEck’s bitcoin exchange-traded fund (ETF), according to a filing.

The assets under management (AUM) of digital asset investment products have increased to a record high of nearly $44 billion, even as trading volumes for these products dropped when compared to last month.

Sponsored: Crypto.com is pleased to announce that Dogecoin (DOGE) has been listed on Supercharger, a one-click liquidity mining platform on the Crypto.com Exchange. Crypto.com Exchange users will receive DOGE as rewards for depositing CRO tokens into the Supercharger pool. 

Top stories in the Crypto Roundup today:

• Goldman Sachs Restarts Cryptocurrency Trading Desk
• CBOE Seeks Approval to List and Trade VanEck’s Bitcoin ETF
• Crypto ETP Assets Under Management Increase to Over $43 Billion
• Sponsored: Crypto.com Exchange’s One-Click Liquidity Mining Platform is featuring DOGE

Goldman Sachs Restarts Cryptocurrency Trading Desk

Goldman Sachs has restarted its cryptocurrency trading desk and is set to start trading bitcoin futures and non-deliverable forwards for clients next week.

The cryptocurrency trading desk is part of Goldman’s activities within the cryptocurrency space, which also include projects related to blockchain technology and central bank digital currencies. The bank is also reportedly exploring the potential of a bitcoin exchange-traded fund.

Goldman Sachs first set up a cryptocurrency trading desk in 2018, when the price of bitcoin was entering a bear market that would see its price drop from nearly $20,000 to just over $3,000 a year later. Since then, digital asset market infrastructure has matured, with established financial institutions like CME, the Intercontinental Exchange, and Fidelity offering products and services.

These developments have helped attract investments from several mainstream companies, including Tesla, which bought $1.5 billion worth of bitcoin, and Bank of New York Mellon, which formed a new unit to help clients hold and transfer digital assets.

CBOE Seeks Approval to List and Trade VanEck’s Bitcoin ETF

CBOE global markets, the global equities and derivatives exchange, is seeking approval from the U.S. Securities and Exchange Commission (SEC) to list and trade VanEck’s bitcoin exchange-traded fund (ETF), according to a filing.

The filing is the latest attempt to launch a bitcoin ETF in the U.S., and comes shortly after Citi analysts said the cryptocurrency was at a “tipping point” and could become the preferred currency for international trades.

The SEC has previously rejected several attempts to list bitcoin ETFs. The CBOE’s filing defended such a product saying it would offer retail investors advantages, such as access to better custody.

Last month, Canada’s Purpose Bitcoin ETF was launched and its assets under management have since been surging. Other assets managers in the country have been rushing to launch their own bitcoin ETFs

Crypto ETP Assets Under Management Increase to Over $43 Billion

The assets under management (AUM) of cryptocurrency digital asset investment products have increased to a record high of $44 billion, even as trading volumes for these products dropped when compared to last month.

CryptoCompare’s Digital Asset Management Review reveals the assets under management across all cryptocurrency investment products surged by 50% to $43.9 billion, despite the trading volume of these products dropping 37.8% to $936 million.

Despite bitcoin’s new all-time high exceeding $58,000 last month, exchange-traded products (ETP) volumes decreased, with the average daily trading volume increasing from $1.51 billion to $936 million. The best performing bitcoin ETP was Bitwise’s Listed Trust Product (BITW) with 15% 30-day returns, outperforming CryptoCompare’s CCCAGG BTC/USD index, which increased 64%.

BITW also outperformed the MVDA index, a market cap-weighted index that tracks the performance of a basket of the 100 largest cryptoassets by market capitalization, which moved up 48.9% over the same period. The most liquid exchange-traded products by trading volume included Grayscale’s Ethereum Classic Trust (ETCG), with 105.5% returns.

DeFi Continues Blistering Growth in February: Flipside Crypto

Though decentralized finance (DeFi) is by no means a new phenomenon, February witnessed impressive activity in the DeFi space. A number of DeFi protocols witnessed record monthly revenues, as did the overall DeFi space — to the tune of $171.5 million.

FCAS scores reflect the recent DeFi activity and are sensitive to accelerated developer activity in a number of major projects. While token price and liquidity garner the majority of headlines, active developer contributions are one of the strongest signals of healthy DeFi projects.

Balancer, for example, broke into the top 25, after a spike in developer activity that likely stems from its collaboration with Aave (AAVE) on the Aave-Balancer Asset Manager.

Balancer recently made crypto news when its CEO, Fernando Martinelli, announced a collaboration^[1] with Aave, known as the Balancer V2 Asset Manager. This partnership will enable assets in Balancer pools to earn yield in Aave.

Members of the Fundamental Asset Score (FCAS) 25 are reevaluated each month and must be ranked within the top 25 for at least 40 days to qualify. The FCAS is a comparative metric that evaluates the fundamental health of a crypto project, and the FCAS 25 is a weighted moving average of the top 25 projects that aims to show the overall health of the crypto industry.

Crypto.com Exchange’s One-Click Liquidity Mining Platform is featuring DOGE

Crypto.com is pleased to announce that Dogecoin (DOGE) has been listed on Supercharger, a one-click liquidity mining platform on the Crypto.com Exchange. 

Crypto.com Exchange users will receive DOGE as rewards for depositing CRO tokens into the Supercharger pool. 

Event Timeline:

• 27 Feb 3:00pm UTC: Charging Period Begins 
• 29 Mar 3:00pm UTC: Charging Period Ends 
• 30 Mar 1:00pm UTC: Acceptance Period Begins 
• 31 Mar 1:00pm UTC: Reward Distribution Period Begins 
• 30 April 1:00pm UTC: Reward Distribution Period Ends

Charging Duration (First 30 days)

Users can deposit and withdraw from the Supercharger pool (with no gas fees) at any time during the Charging Period. Price of the reward token is determined at the end of this period.

Reward Distribution Period (Next 30 days)

Users will receive their reward tokens during the Reward Distribution Period based on their share of the liquidity provided during the Charging Period. Their eligible reward tokens will be distributed daily during this 30 day period after accepting the reward terms. Users will forfeit a portion of their reward if they do not accept the terms before the Reward Distribution Period begins.

Allocation:

The total allocation amount is USD 250,000 in DOGE.

Rewards Calculation 

Find out how to calculate your rewards here.

NOTE: 

• Participants may withdraw their CRO deposits from the pool at any time.
• Participants can make multiple deposits throughout the duration of the event.
• If the participant fails to accept their reward allocation before Rewards Distribution Period begins, they will lose the portion of the reward that was scheduled to be distributed. They are still entitled to the remaining portion of their reward, and can redeem it by logging in to the Exchange and accepting their allocation.
• Crypto.com reserves the right to cancel or amend the Supercharger campaign rules at its sole discretion.

Sign up for the Crypto.com Exchange, deposit CRO and prepare to earn DOGE!

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