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Bitcoin's hashrate reached an all-time high of over 1,000 EH/s on January 3, nearly double from a year prior, reflecting increased miner investment in network security despite reduced rewards from the April halving. Mining firms are expanding operations and accumulating BTC, with significant institutional inflows into Bitcoin ETFs pushing net assets over $100 billion. Analysts predict that improving regulatory clarity could lead to accelerated institutional participation in crypto assets by 2025.
Surging institutional inflows are expected to create "demand shocks" for Bitcoin in 2025, potentially driving its price significantly higher, according to Sygnum Bank. Each $1 billion in net inflows into spot ETFs could increase Bitcoin's price by 3-6%. The report highlights that regulatory clarity in the US could further accelerate institutional participation, while altcoins may struggle unless supportive laws are enacted. Bitcoin ETFs have seen substantial growth, surpassing $100 billion in net assets, fueled by increased adoption and investor interest.
Sygnum, a Swiss bank specializing in digital assets, has opened an office in Lugano to enhance local services and support the city's Bitcoin initiative, Plan B. This move aims to foster collaboration within Lugano's growing digital ecosystem and includes the launch of Bitcoin@Sygnum to promote partnerships and research in the Bitcoin space. Mayor Michele Foletti emphasized the importance of this development for Lugano's economic growth and innovation in blockchain technology.
Sygnum has secured a digital asset services license in Liechtenstein, enabling it to expand its offerings in the European Economic Area. This move aligns with the forthcoming MiCA regulations and follows a strong H1 2024 financial report, showcasing significant growth in trading volumes and client assets. The bank aims to enhance its presence in Asia, particularly in Hong Kong, while continuing partnerships with major banking institutions.
Sygnum, a Swiss digital asset banking group, has registered its subsidiary with the Liechtenstein financial regulator, enabling it to offer regulated services in the EU under the upcoming MiCA framework. This strategic move allows Sygnum to expand its digital asset services, including brokerage and custody, across the European Economic Area, with full access to 30 markets anticipated by early 2025. Additionally, the company is pursuing growth in Asia, focusing on Hong Kong and Singapore.
Digital asset bank Sygnum has secured regulatory approval to operate in Liechtenstein, positioning itself for expansion into the EU as the Markets in Crypto-Assets Regulation (MiCA) takes effect. Originally established in Switzerland in 2019, Sygnum is now licensed as a crypto asset service provider, offering brokerage, custody, and B2B banking services. With a network of over 20 partner banks and recent funding of $40 million, Sygnum aims to leverage its experience in the competitive European market.
Martin Burgherr
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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