🔔 We are very proud to highlight the insightful article by our trusted advisor, Hadley Stern, featured in Blockworks: Wall Street isn’t ready to manage crypto ETFs. In his piece, Hadley articulates crucial points on the security challenges facing crypto ETFs: 1. Concentration of Custodians: Many ETF issuers rely on a few custodians like Coinbase, creating centralization and counterparty risk. 2. Need for Robust Security Solutions: Stronger security measures are necessary to handle the large inflows and complexities of crypto ETFs. 3. Key Management Practices: Proper cryptographic key management is critical to prevent irreparable loss from cyber-attacks. 4. Adaptation of Traditional Finance: Wall Street institutions must adapt to the unique challenges of managing crypto assets to ensure security and trust. At MPCH, we fully support Hadley's perspective on the need for advanced security measures and the vital role of mature infrastructure providers. His expertise underscores the importance of creating resilient and secure frameworks to safeguard investments and ensure long-term stability in the crypto space. As we continue to innovate and strengthen our offerings, we're committed to integrating these principles and leading the way in secure infrastructure solutions. Thank you, Hadley, for your valuable insights and ongoing contributions to the industry. #Bitcoin #Crypto #ETFs #Security #Infrastructure #Innovation #MPCH https://lnkd.in/dBHEJrk5
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Read my latest piece on digital assets and security.
🔔 We are very proud to highlight the insightful article by our trusted advisor, Hadley Stern, featured in Blockworks: Wall Street isn’t ready to manage crypto ETFs. In his piece, Hadley articulates crucial points on the security challenges facing crypto ETFs: 1. Concentration of Custodians: Many ETF issuers rely on a few custodians like Coinbase, creating centralization and counterparty risk. 2. Need for Robust Security Solutions: Stronger security measures are necessary to handle the large inflows and complexities of crypto ETFs. 3. Key Management Practices: Proper cryptographic key management is critical to prevent irreparable loss from cyber-attacks. 4. Adaptation of Traditional Finance: Wall Street institutions must adapt to the unique challenges of managing crypto assets to ensure security and trust. At MPCH, we fully support Hadley's perspective on the need for advanced security measures and the vital role of mature infrastructure providers. His expertise underscores the importance of creating resilient and secure frameworks to safeguard investments and ensure long-term stability in the crypto space. As we continue to innovate and strengthen our offerings, we're committed to integrating these principles and leading the way in secure infrastructure solutions. Thank you, Hadley, for your valuable insights and ongoing contributions to the industry. #Bitcoin #Crypto #ETFs #Security #Infrastructure #Innovation #MPCH https://lnkd.in/dBHEJrk5
Wall Street isn’t ready to manage crypto ETFs
blockworks.co
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NEW ARTICLE OUT: "Digital Asset Custody SEC Rulings: A Positive Outlook" The recent failures of Celsius and FTX exposed vulnerabilities within the digital asset space, prompting regulatory action from the SEC. While this tightening custody rules for cryptocurrencies, a recent legal decision could have broader implications. A US appeals court challenged the SEC's past denials of Bitcoin ETF applications, demanding a reassessment due to inconsistencies with approved futures-based funds. This legal setback opens the door for a potential US Bitcoin ETF, which could significantly accelerate institutional adoption. However, Nasdaq's withdrawal from crypto custody plans highlights uncertainty surrounding regulations. Despite this setback, proposals like Blackrock's spot Bitcoin, if approved, could still potentially list on the platform. ☝ Find out more at: https://lnkd.in/dFThs_RV 📰 Read other news and other articles at our blog: https://lnkd.in/dymiVaNX #SECruling #digitalassetcustody #digitalasset #digitalcustody #cryptoETF
Digital Asset Custody SEC Rulings: A Positive Outlook - EDSX - European Digital Assets Exchange
https://www.edsx.ch
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Fintech Leader | CEO & Founder at Agora more than Baas | Driving Innovation in Banking
This time is for good, U.S. Securities and Exchange Commission approves rule changes that pave the way for bitcoin ETFs. Funds could start trading as soon as Thursday after months of anticipation and pushback. SEC Chair Gary Gensler brought some "joy" on this announcement “While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin,” he said, telling investors to “remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto”. A price war has already broken out among the new ETF providers. BlackRock, Fidelity Investments and others updated their paperwork earlier this week to announce fees less than 0.5 per cent, with several promising to waive charges altogether in the early months of trading. Grayscale Investments had dropped its fee from 2 per cent to 1.5 per cent but did not plan further cuts. Ark’s Cathie Wood will not impose its 0.21 per cent fee until six months after launch or until its ETF reaches $1bn.
SEC approves rule changes that pave the way for bitcoin ETFs
cnbc.com
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Vice President at AlixPartners | Aerospace, Defense & Airlines Practice | Michigan Ross MBA
The approval of the first Bitcoin spot exchange-traded funds (ETFs) by the SEC marks a significant milestone, offering investors a direct exposure to Bitcoin without the complexities of self-custody. This decision is poised to attract mainstream and institutional investors, potentially normalizing and legitimizing digital assets within traditional investment portfolios. The move reflects broader trends in digital finance and poses both opportunities and challenges for the industry, including cybersecurity and regulatory compliance. For a deeper dive into the implications of this approval and its impact on the financial services industry, visit AlixPartners Insights at the link below.
SEC's Bitcoin ETF approval: A catalyst for stability, investment, and challenges in crypto
insights.alixpartners.com
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Our Daily Market Report is out! Today, we cover: #BTC Trading Volume (24hr): $84.6B / +18% #DigitalAssets: BlackRock, ARK Investment Management LLC Follow Rivals in Cutting Bitcoin #ETF Fees #TradFi: U.S. #CPI and #PPI reports are scheduled for Thursday and Friday, respectively, coinciding with the intensification of earnings season. Notably, Friday's reports will unveil results from major financial heavyweights like JPMorgan Chase & Co. and Bank of America Every day, the SDM research team summarizes what is happening in crypto. Make sure to follow our page to get tomorrow's market breakdown! More insights: https://lnkd.in/eZtfQPd3
The future of digital asset trading
sdm.co
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The SEC has approved bitcoin ETFs to trade in the United States, ending a regulatory battle that has gone on for years. The first funds are expected to begin trading Thursday. The fund issuers range from Wall Street stalwarts like BlackRock and Fidelity to crypto-focused companies like Grayscale and Valkyrie. The range of issuers is emblematic of what this could mean for crypto in the United States, as bitcoin now has a vehicle to becoming part of the regular investor's portfolio. The next question -- how will the funds perform operationally? And will financial advisors and other institutional investors embrace these ETFs?
SEC approves rule changes that pave the way for bitcoin ETFs
cnbc.com
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I help people learn to protect and grow their finances in order to achieve their dream retirement early.
Amidst the SEC giving most US-based crypto platforms the shakedown (putting it far too lightly), we see them give Bitcoin the wink and nod… Like it or not blockchain technology and crypto currency is the future of finance and especially if you would like some freedom from corrupt, failing banks oversight you should jump on board! https://lnkd.in/gXqx3sKY https://lnkd.in/giaRipeK https://lnkd.in/gtmBUw98 #future #blockchain #freedom #crypto
The SEC has approved bitcoin ETFs to trade in the United States, ending a regulatory battle that has gone on for years. The first funds are expected to begin trading Thursday. The fund issuers range from Wall Street stalwarts like BlackRock and Fidelity to crypto-focused companies like Grayscale and Valkyrie. The range of issuers is emblematic of what this could mean for crypto in the United States, as bitcoin now has a vehicle to becoming part of the regular investor's portfolio. The next question -- how will the funds perform operationally? And will financial advisors and other institutional investors embrace these ETFs?
SEC approves rule changes that pave the way for bitcoin ETFs
cnbc.com
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As expected, the #SEC is pushing back it's decision on spot #ETFs for #Ethereum, while staying the course on what appears to be approval of the first #Bitcoin #ETF in early January. Institutional support of both of these #crypto assets will transform the landscape of #banking in real-time, giving local #FIs a narrowing window to evolve into the future of #digitalassets and #streaming #money. Will 2024 be a year of prosperity for your institution, your members, and your community, or will it be the year you fade into a memory of what was once relevant? The choice is yours. https://lnkd.in/ghJBhqrW
Ethereum ETFs pushed to May, Bitcoin ETFs approval in January: Law Decoded, Dec. 18–25
cointelegraph.com
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When it comes to crypto, Australia is at risk of getting left behind. Which is a shame because Australia could be a crypto powerhouse, excellent university tuition, tier-1 financial hub, safe, trustworthy, transparent and extremely talented. Australia punches above its weight in crypto and globally across professional services. Crypto is now becoming a portfolio asset for some of the largest institutions in the US, but in Australia still considered a 'fad', 'scam' or 'risky'. Proactive regulation, transparent treatment and clear rules could spur the next group of successful crypto businesses to call Australia home. An easy quick win is banking, give businesses bank accounts from trusted Australian banks instead of forcing them to expensive service providers or overseas vendors. InvestorDaily wrote a great update on the pace the ETH ETF is moving. https://lnkd.in/gqqwTp4u
Crypto enthusiasts cheer as SEC clears path for Ethereum ETFs
investordaily.com.au
Director, Risk Solutions at Crisis24 🚀 Enabling business leaders to operate with confidence anywhere in the world.
1moGreat insights from Hadley Stern and I totally agree that the need for stronger security practices are necessary for the crypto ETFs to continue to grow. Much can be learned from enterprise software organizations that have developed strong physical security programs over the past 30 years to protect the cryptographic operations processes.