Trillion-dollar asset manager Invesco has launched a spot bitcoin exchange-traded product (ETP) in Europe shortly after withdrawing a futures-based offering in the U.S. Its new offering is “physically” backed by actual BTC.

A former Citigroup executive is launching a $1.5 billion cryptocurrency fund and is bringing on former Goldman Sachs banker Sam Peurifoy, who quit his job at the financial institution to make money in Axie Infinity.

Denver-based investment firm Kelly Intelligence has filed to launch an exchange-traded fund offering investors exposure to Ethereum (ETH) futures contracts. The move comes months after the first ETH futures ETF applications were suddenly withdrawn.

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Top stories in the Crypto Roundup today:

• Invesco Launches ‘Physical’ Bitcoin ETP
• Former Citi and Goldman Sachs Bankers Launch $1.5 Billion Crypto Fund
• Kelly Intelligence to Launch Ethereum Futures ETF
• History of the First Bitcoin Transactions
• Sponsored: Score Up to $200 in Rewards with Bybit

Invesco Launches ‘Physical’ Bitcoin ETP

Trillion-dollar asset manager Invesco has launched a spot bitcoin exchange-traded product (ETP) in Europe shortly after withdrawing a futures-based offering in the U.S. Its new offering is “physically” backed by actual BTC.

The ETP aims to offer investors the performance of BTC minus its fees. Gary Buxton, head of EMEA ETFs and indexed strategies at Invesco, was quoted saying:

“In the last two to three years, we have been trying to structure a product that looked, from an institutional point of view, as close as possible to a traditional ETF like our gold structure, and that has been the driver of BTIC’s timeline.”

The exchange-traded product is listed on the Deutsche Boerse under the ticker symbol BTIC and has a total expense ratio of 0.99%. The product is targeted at institutional investors.

Former Citi and Goldman Sachs Bankers Launch $1.5 Billion Crypto Fund

A former Citigroup executive is launching a $1.5 billion cryptocurrency fund and is bringing on former Goldman Sachs banker Sam Peurifoy, who quit his job at the financial institution to make money in Axie Infinity.

The former Citigroup executive Matt Zhang, who was most recently a global co-head of structured products trading at Citigroup, is launching an investment firm called Hivemind Capital Partners and has already attracted institutional interest.

Peurifoy is set to run the fund’s play-to-earn segment. The investor makes money playing Axie Infinity, where he’s known as “Das Kapistalist” and lends tokens to new players to then split eventual winnings.

Hivemind is set to focus on making venture investments in cryptocurrency companies, trading digital assets, and setting up a dedicated “play-to-earn” strategy.

Kelly Intelligence to Launch Ethereum Futures ETF

Denver-based investment firm Kelly Intelligence has filed to launch an exchange-traded fund offering investors exposure to Ethereum (ETH) futures contracts. The move comes months after the first ETH futures ETF applications were suddenly withdrawn.

In a filing with the U.S. Securities and Exchange Commission (SEC), the firm detailed the Kelly Ethereum Ether Strategy ETF will invest in cash-settled ether futures contracts traded on the Chicago Mercantile Exchange.

Bloomberg’s Senior ETF analyst Eric Balchunas has estimated that the ETF has a 20% chance of being approved by the SEC, as he believes SEC chairman Gary Gensler is “not mentally ready” to approve anything other than a bitcoin futures ETF at this stage.

History of the First Bitcoin Transactions

The first Bitcoin transaction occurred days after the cryptocurrency was created to test how the blockchain worked. From that point on, BTC evolved to see its first commercial transaction months later: a now-famous pizza purchase.

The first Bitcoin block – called the genesis block – was mined on January 3, 2009, by the cryptocurrency’s pseudonymous creator Satoshi Nakamoto. On January 12, the first Bitcoin transaction was made, involving Nakamoto and Hal Finney, a cypherpunk that worked with the PGP Corporation developing a leading encryption product.

This article will dig into the history behind both the first-ever BTC transaction and the first commercial transaction made using the cryptocurrency. Hopefully, by the end of it, you’ll have a better understanding of how Bitcoin picked up steam.

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