Fidelity Investments Canada, the country’s first regulated institutional bitcoin custodian, has added a BTC allocation to two of its All-in-One exchange-traded funds (ETFs) in a bid to improve their risk-adjusted returns in the future.

Former Twitter CEO Jack Dorsey is helping launch a new fund that is set to defend Bitcoin developers against legal action, with its first move being defending the developers being sued by Craig Wright’s Tulip Trading Limited over an alleged “breach of fiduciary duty.”

A solo Bitcoin miner with 126 terahashes per second (TH/s) of computing power has managed to mine block 718,124 on the flagship cryptocurrency’s network to secure a 6.25 BTC reward, along with 0.1 BTC from fees. The miner’s chances of success were 1 in 1.36 million.

Who was the most successful NFT artist of 2021 and which artworks and collections achieved the largest sales? Join us as we take a look back at the NFTs that made the headlines in 2021, from Beeple’s record-breaking $69m sale to the first NFT auction at Christie’s - brought to you in partnership with NFT data and discovery platform Masterpiece.

Top stories in the Crypto Roundup today:

• Fidelity to Add Bitcoin Exposure to Two ETFs
• Jack Dorsey Helps Launch Fund to Defend Bitcoin Developers Against Legal Action
• Solo Bitcoin Miner Beats 1.3 Million Odds to Mine BTC Block
• NFT Spotlight: The Largest NFT Sales of 2021

Fidelity to Add Bitcoin Exposure to Two ETFs

Fidelity Investments Canada, the country’s first regulated institutional bitcoin custodian, has added a BTC allocation to two of its All-in-One exchange-traded funds (ETFs) in a bid to improve their risk-adjusted returns in the future.

The All-in-One ETFs seek to provide investors exposure to different regions, assets, market capitalizations and investment styles. The addition of BTC will change the funds’ risk ratings to “medium.”

The Fidelity All-in-One Balanced ETF provides investors with diversified exposure to different regions of the world with a neutral mix of 60% equity factors and 40% systematic and actively managed fixed-income ETFs. The Fidelity All-in-One Growth ETF has a greater risk appetite with 85% in equities and 15% in fixed-income ETFs.

The Bitcoin allocation is made through Fidelity’s spot bitcoin ETF, the Fidelity Advantage Bitcoin ETF, which was launched in November 2021.

Jack Dorsey Helps Launch Fund to Defend Bitcoin Developers Against Legal Action

Former Twitter CEO Jack Dorsey is helping launch a new fund that is set to defend Bitcoin developers against legal action, with its first move being defending the developers being sued by Craig Wright’s Tulip Trading Limited over an alleged “breach of fiduciary duty.”

In an email addressed to developers, Dorsey described the open-source community as “especially susceptible to legal pressure,” and that in response “we propose a coordinated and formalized response to help defend developers.”

The Bitcoin Legal Defense Fund, a non-profit organization, is set to assist developers with legal disputes that may interrupt their work. It will do this by helping appoint defence counsels, devising defence strategies, and footing legal bills.

The fund will initially be staffed by volunteers and part-time lawyers, with a board responsible for allocating its resources.

Solo Bitcoin Miner Beats 1.3 Million Odds to Mine BTC Block

A solo Bitcoin miner with 126 terahashes per second (TH/s) of computing power has managed to mine block 718,124 on the flagship cryptocurrency’s network to secure a 6.25 BTC reward, along with 0.1 BTC from fees. The miner’s chances of success were 1 in 1.36 million.

The miner currently controls around 0.000073% of the network’s over 170  exhashes per second (EH/s) of hashrate, with one EH/s being equal to one million TH/s. While it isn’t clear how long the miner was trying to find a block on the network, in theory, it should take around 9,500 days for it to find a block by itself.

The miner was using solo mining pool ckpool, which charges a 2% fee on found block rewards. The pool allows miners to run solo operations with their own equipment while providing them with services that offer functions such as running the Bitcoin blockchain on their behalf.

Miners often band together in mining pools to collectively use their resources to mine new BTC blocks. The rewards from these blocks are then shared among all contributing miners.

NFT Spotlight: The Largest NFT Sales of 2021

NFTs took the crypto industry by storm in 2021. From record-breaking volumes, Christie’s and Sotheby’s auctions, the acquisition of a CryptoPunk by VISA and the general advancement of the metaverse and Web 3.0 - join us as we explore the 50 largest NFT sales of 2021.

It’s no surprise that the collection with the largest number of sales in the top 50 was CryptoPunks - with 14 sales totalling $75 million. CryptoPunks achieved mainstream coverage following a sale during an auction of $11.8 million at Sotheby's.

The Punk (#2 pictured below) was included as part of Sotheby's online auction "Natively Digital: A Curated NFT Sale", which saw $17.1 million of sales across works by 27 digital artists.

Yuga Labs, the studio behind the Bored Ape Yacht Club ecosystem, had the second-largest number of items featuring in the top 50, with seven Bored Apes making the cut.

The individual artists who feature most often include; Dmitri Cherniak (5 items), Beeple (4 items) and XCOPY (4 items). Beeple, AKA Mike Winkelmann, holds the record for the largest NFT sale of 2021, and all-time - excluding the notorious $500m Punk ‘sale’ - selling his now-famous EVERYDAYS: THE FIRST 5000 DAYS piece for $69m at auction.

State of the Crypto by Top Tier Exchange Volume

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