26 February

The world’s first Ethereum exchange-traded fund (ETF) may be on the way, after CI Global Asset Management filed a preliminary prospectus in Canada on Thursday. If approved, the ETF would trade on the Toronto Stock Exchange (TSX) under the ticker “ETHX.”

Ethereum is the leading candidate to be the base layer of Web 3.0, and ether is a growth asset that provides investors exposure to the explosion of decentralized applications.

Galaxy Digital Capital Management LP will act as the ether sub-adviser and execute trading on behalf of the ETF. ETHX will invest directly in ether with its holdings priced using the Bloomberg Galaxy Ethereum Index.”

See Also: Arca Is Latest Crypto Fund to Launch a Bitcoin Trust
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“Ethereum usage is surging this year, with the value of transactions settled on the network skyrocketing during 2021. If Messari’s $1.6 trillion forecast is accurate, Ethereum’s quarterly settlement value will have increased 1,280% compared to Q1 2020, and more than 5,000% compared to Q1 2019.

Messari researcher Ryan Watkins noted the data counters the prevailing narrative that Ethereum is seeing an exodus of users amid its high gas fees, exclaiming:

Incredible scale for a technology that critics claimed couldn’t scale.

Cryptofees.info is currently reporting an average daily fee generation of $32 million for ETH over the past seven days. Comparatively, Bitcoin has generated just $8 million daily on average over the past week. The massive demand on the network has caused gas prices to surge to all-time highs. With many retail traders increasingly getting priced out of using the Ethereum mainnet for smaller transactions.”


“Leading U.S. cryptocurrency exchange Coinbase identified some unique business risks in its prospectus released Thursday, including competition from decentralized finance (DeFi) and the potential discovery of the real identity of Bitcoin’s pseudonymous creator, Satoshi Nakamoto.

We compete against a growing number of decentralized and noncustodial platforms and our business may be adversely affected if we fail to compete effectively against them.

Other identified risks are more standard, including the company’s revenue being “substantially dependent” on the categorically volatile prices of digital assets, and the potential for platform security breaches.”

See Also: Coinbase’s Financials Are Now Public Ahead of Stock Market Listing
See Also: Coinbase Has Held Crypto Assets Like Bitcoin on Its Balance Sheet Since 2012
See Also: Coinbase Institutional, Retail Trading Volume Grew at Equal Rates in 2020


IBC Group wants to spend 100,000 Bitcoin to help Mayor Francis Suarez’s dreams of a Miami crypto capital come true. IBC Group is creating the Miami 2.0 Blockchain Strategy Foundation to support other projects.

Making the largest Bitcoin investment in history is proof of our commitment to assisting cities adopt Blockchain, which we see as the key to enabling widespread adoption.”

See Also: State of Wyoming Introduces Bill for Blockchain Filing System


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“U.K. personal finance tool Money Dashboard is allowing its 600,000 users to view their crypto holdings alongside their bank accounts and other financial products within its app. Users will be to use the Money Dashboard app to access their balances and transactions on exchanges such as Coinbase, Binance and Bitstamp.

The U.K. company is providing this service in partnership with Zabo, a Dallas-based crypto software firm that aims to connect crypto wallets to bank accounts.

See Also: 177-Year-Old Swiss Bank Adds Bitcoin, Ethereum Trading
See Also: Germany’s Solarisbank Launches Licensed Crypto Brokerage


It depicts what appears to be a monumental Donald Trump lying face down in the grass and covered in graffiti. Foster said he believed Beeple’s artwork sold for such a substantial amount because it was the artist’s “first-ever 1/1,” meaning the artwork is the only one in existence.

History has just been made.

Beeple is quickly becoming, or arguably already is, the most important crypto artist in the world.

The sale was brokered by Nifty’s art buying services, according to the platform, which said the buyer wishes to remain anonymous. Nifty was acquired by the Winklevoss brothers’ cryptocurrency exchange Gemini in 2019.”

See Also: Crypto Art on Sale at Christie’s Hits $1 Million Within 10 Minutes
See Also: 11 Projects Building a Strong Foundation Beneath the Marriage of DeFi and NFTs


Individual parachain teams may be hesitant to commit funds for an auction, knowing that their competitors would benefit just as much from it without having invested any of their resources. This is referred to as the “free-rider problem” in economics.

The Polkadot team thus proposed on Thursday to allocate some parachain slots to public-good features, bypassing the auction process. Instead, the inclusion of the parachain will depend on DOT stakeholders passing a governance proposal. For now, the candidates for public-good parachains are primarily “system-level chains” and “public utility chains.”

Public utility chains can be considered as a Polkadot-native implementation of individual project parachains. This includes features such as bridges to other blockchains, or general smart contract environments based on WebAssembly. Such a parachain could allow developers to deploy their project on a neutral Polkadot environment, where fees are paid with DOT.”


“Cryptocurrency derivatives exchange FTX has created a new specialized futures contract for traders to bet on the likelihood of the Olympic Games occurring in Tokyo in 2021.

In addition to the OLY2021 contract, FTX is continuing its line of products for speculation on the future likelihood of a Trump presidency in 2024. Notably, neither of these contracts is available to residents of barred jurisdictions, which include the United States, Canada, mainland China and Hong Kong, Singapore, Turkey, the United Kingdom and others.”