Crypto Strategy

🌐 Arthur Hayes: Japanese Banks in Crisis Over Dollar-Yen Carry Trade Failures

📉 Japanese Banks Grapple with Bond Rout Amidst Aggressive Fed Rate Hikes

The U.S. Federal Reserve's rate hikes have hit Japanese banks hard, as they face the consequences of their dollar-yen carry trades gone awry. This has led to the worst bond rout since the 1800s, leaving them with a situation best described by the Japanese phrase "Shikata Ga Nai" – it cannot be helped.

💀 Japanese Banking System Takes the Hardest Hit

According to Arthur Hayes, it's no surprise that the Japanese banking system is feeling the brunt of this crisis. The rapid response of the Federal Reserve to inflation has caused a domino effect, depressing U.S. Treasury bond prices and deepening losses for banks worldwide.

📉 Norinchukin Bank's $63 Billion Bond Dump Signals Wider Troubles

Norinchukin Bank, Japan's fifth-largest by deposits, is planning to offload a staggering $63 billion worth of foreign bonds, mainly U.S. Treasuries. This move reflects a growing trend among Japanese financial institutions, who are seeking to divest from these low-yield, high-cost investments.

🌍 Global Economy and Crypto Market Implications

Hayes doesn't stop at analyzing the impact on traditional markets; he also delves into how this crisis could inadvertently boost markets like bitcoin. With increased liquidity from actions like those taken by the Bank of Japan, there may be unexpected ripple effects that savvy investors should consider amidst the turmoil.

💸 Origami Cranes and Crypto Bulls: A Dollar Supply Dilemma

As Hayes concludes his blog post, he paints a vivid picture of the current financial landscape. The need for more dollars to stabilize bond markets could inadvertently bolster the crypto market, creating yet another pillar for the ongoing crypto bull market.

In a world where even Origami cranes rain down dollars, it's clear that the global financial system is in for some interesting twists and turns.

🍺 Beercoin Price Sinking but Expert Says This Sealana Meme Coin Could Explode Next

📉 BEER Plunges Over 30% as Crypto Prices Tumble

It's been a rollercoaster ride for Beercoin holders as the crypto market takes a hit. While the overall market cap is down, Beercoin's drop has been steeper, with a 36% decline today and a whopping 77% this week.

💔 Will Beercoin's Selloff Continue?

The community is divided, with concerns about token sales and centralized exchanges. But there's hope in the air as some experts, like Sjuul and Man of Bitcoin, believe in a recovery.

🚀 Sealana: The Next SOL Meme Coin to 10X?

As traders look for alternatives, all eyes are on Sealana. This Solana-based meme coin is making waves with its unique theme—a chubby seal who loves junk food and degen trades.

📈 Sealana's Presale Success Sparks Excitement

With its presale raising $4 million, just like Beercoin did, Sealana is poised for an explosive exchange launch. Analysts are taking notice, even without a whitepaper or roadmap.

⏳ Time Is Running Out for Prospective Buyers

If you want to get in on the Sealana action, you better act fast—the presale ends in just seven days. Will this edgy meme coin live up to the hype? Only time will tell.

🚀 Innovative Block Size Upgrade Takes Spotlight at Bitcoin Cash Bliss Conference

🎥 Captivating Conference: Jonathan Silverblood, co-founder of General Protocols, released a Youtube video capturing the BCH Bliss 2024 conference. Supported by BCH Bull, The Bitcoin Cash Podcast, Ravish, and Commercial Kitchen Stop, it was a star-studded affair.

🌟 Expert Insights: Renowned speakers like Calin Culianu and Kilian De Roovere shared their wisdom on various Bitcoin Cash topics. A panel discussion focused on driving adoption among the next billion users.

💼 Networking Success: Silverblood emphasized that beyond the presentations, the event fostered valuable connections. He anticipates fruitful collaborations and projects emerging from this unmissable gathering.

🏗 Innovation Showcase: Builders and projects had a platform to shine, with exclusive events for VIPs. The conference coincided with the successful implementation of adaptive block size limits (ABLA), enhancing scalability.

📈 Unprecedented Growth: With the recent "Jessica" upgrade fortifying the network, the Bitcoin Cash community is poised for an era of remarkable innovation. Scaling efforts are in full swing, setting the stage for widespread adoption and exciting developments.

🚀 Hong Kong's ETFs Make Waves: $1.96B in Bitcoin, $26M in Ether!

🏦 In just 44 days, Hong Kong's spot bitcoin and ether ETFs have made a splash. With AMC China, Bosera & Hashkey, and Harvest leading the charge, these funds are the only game in town for investors in the region. AMC takes the crown with a whopping $1.07 billion in bitcoin and $18.17 million in ethereum under its belt.

💼 According to sosovalue, these Hong Kong ETFs currently hold around 2,900 BTC, valued at an impressive $1.96 billion. That's about 3.26% of what their U.S. counterparts are holding – a significant chunk! And let's not forget, Hong Kong is already trading spot ether ETFs, leaving the U.S. playing catch-up.

💰 While the U.S. awaits approval for its own spot ether ETFs, Hong Kong's pioneers have secured a cool $26.74 million in ethereum. Since their launch, they've amassed around 7,640 ETH – not too shabby for a market that's still finding its feet.

🌏 Despite hopes of mainland Chinese investors flocking to these Hong Kong offerings, the reality has been more measured. While they've certainly made waves, it's clear that their scale is still a far cry from their American counterparts' towering figures.

In the world of crypto investments, Hong Kong is carving out its own niche – one bold step at a time.

📉 Davido's Meme Coin Crashes Amidst Controversy: Nigerian Artist Accused of Yet Another Pump-and-Dump

🚀 A Wild Ride: Nigerian musician and social media sensation, Davido, finds himself in hot water once again as his latest crypto venture takes a nosedive. The DAVIDO token soared by 200% only to plummet 56% within an hour, leaving investors scratching their heads.

💰 Big Gains, Big Questions: Reports reveal that Davido snapped up a hefty 20.3% of the token's supply, making a tidy profit of $474,000 when he sold a portion. But was this just another calculated move in his repertoire of pump-and-dump schemes?

🎤 From Beats to Blockchain: Known for his massive online following, Davido launched the meme coin on May 29 with much fanfare. However, some are now questioning the legitimacy of his endorsements and whether his influence is being used responsibly.

🔍 A Pattern Emerges: This isn't the first time Davido's crypto escapades have raised eyebrows. Previous ventures like rapdoge and racksterli have also left investors disappointed, leading to accusations of foul play.

⚖️ Regulatory Ripples: As cries of "scammer" grow louder in Nigeria's crypto community, experts warn that if U.S. investors were involved, regulators might take notice. The fallout from Davido's actions could extend beyond his own reputation.

🌍 Cape Town Getaway: Amidst the storm, Davido finds solace in South Africa's scenic beauty. While controversy swirls around him, snapshots of his Cape Town vacation surface online, offering a glimpse into his life beyond the digital realm.

In the volatile world of cryptocurrencies, it seems even the stars aren't immune to scrutiny. Davido's latest crypto rollercoaster ride leaves investors and fans alike wondering: is it all just a game or something more sinister?

🌟 Gold Rush in Vietnam: Investors Queue Up for Bullion Bargains

🏦 Vietnamese banks are witnessing a remarkable sight as long queues form outside their branches. The reason? A growing fascination with gold bullion among local investors. State banks like SJC, Agribank, Vietcombank, BIDV, and Vietinbank have become hotspots for those seeking to capitalize on the central bank's latest move.

💰 With the central bank now directly selling gold to these financial institutions, it's no wonder that excitement is in the air. The aim? To bring down soaring domestic gold prices that have been hitting record highs lately. From $3,620 per tael (37.5g) last month, prices have already dipped to $3,107 – a tempting 1.2% discount for eager buyers.

🔍 While officials are investigating potential irregularities, some attribute this gold rush to a different cause: the weakening Vietnamese dong. As faith in the local currency wavers, many see gold as a safer bet for preserving their wealth.

⏳ Patience is a virtue for these investors, who believe that gold's value will remain steady over time. And they're not alone in their optimism – internationally, geopolitical tensions and central banks' hunger for diversification have been pushing up global gold prices too.

📈 Experts like Jim Rickards are even more bullish on gold's future, revising their predictions upwards. Forget $17,000 – now they're eyeing a staggering $27,000 per ounce by 2026. It seems that in Vietnam's gold rush, the stakes just keep getting higher.

📉 US Banking Sector Teeters: $517B Unrealized Losses, 63 Troubled Institutions Flagged

🚨 Despite the claimed ‘resilience’ in the banking sector, the US Federal Reserve and Biden administration face a daunting reality. Unrealized losses have skyrocketed by $39 billion, largely due to mortgage rate hikes impacting residential mortgage-backed securities.

📊 The latest FDIC report reveals a troubling trend: nine consecutive quarters of substantial unrealized losses since early 2022's interest rate hikes. Moreover, the Problem Bank List has grown from 52 to 63 institutions in just one quarter.

🏦 These banks, with a CAMELS rating of “4” or “5,” exhibit significant financial weaknesses, raising concerns about the broader banking ecosystem. The ongoing banking crisis that began in 2023 shows no signs of abating.

💥 Philadelphia’s Republic First Bank's collapse adds to last year's catastrophic failures. A recent study even suggests that hundreds of US banks are at risk of failure.

⚠️ The FDIC data serves as a stark reminder: despite assurances, the US banking sector faces mounting challenges. With rising unrealized losses and an expanding list of vulnerable institutions, questions about 'economic resilience' loom large. The stability of the US banking system remains uncertain.

🚀 Semler Scientific Dives into Bitcoin with 581 BTC Acquisition

🔬 Semler Scientific, a renowned medical technology firm specializing in early disease detection, is making waves in the financial world. Following in the footsteps of Microstrategy, Semler has made a bold move by investing in bitcoin.

👨‍⚕️ Co-founded by Dr. Herbert J. Semler, the company's chairman Eric Semler believes that bitcoin is not just a passing trend but a reliable store of value and an enticing investment opportunity.

💰 With over $1 trillion in market value, bitcoin has caught Semler's attention as a unique asset class. Its scarcity and resilience make it an attractive hedge against inflation and global uncertainties, even surpassing the allure of traditional safe haven gold.

🏦 After careful consideration, Semler Scientific decided that holding bitcoin was the best use of their excess funds. This strategic move paid off handsomely as the company's stock soared by more than 20% during Tuesday's trading sessions.

📈 While some companies have faced criticism for using such announcements to manipulate their stock prices, Semler's move seems to be backed by genuine conviction. Even Michael Saylor, the man behind Microstrategy's successful bitcoin venture, couldn't help but share the news on social media.

In this era of digital transformation, it seems that even the medical world is embracing the potential of cryptocurrencies like bitcoin. Semler Scientific's foray into this new asset class could pave the way for other innovative companies to follow suit.

📉 Despite Ethereum ETF Approvals, 'Altcoin Season' Remains Far Off

🚀 Ethereum (ETH) and other altcoins like DOGE, UNI, PEPE, and ETC are enjoying double-digit gains against the USD. However, the Altcoin Season Index tells a different story.

⏰ On April 26, 2024, the index was higher than today's score of 35. To declare an 'altcoin season,' 75% of the top 50 coins must outperform Bitcoin (BTC). Last month's score was 39.

📈 Four months ago, the index stood at 59, indicating a widening gap. While some coins like PEPE and WIF have soared over 800%, BTC's dominance remains at 52.74%.

📣 Social media buzzes with optimism as ether ETFs get approved, but Cryptonomy suggests a declining BTC dominance could hint at altcoin season. Still, it seems we're not there yet.

🔮 The much-anticipated altcoin season may be on the horizon, but for now, it remains a distant possibility. Let's see if hopes and speculations turn into reality.

📈 Bitcoin Difficulty Bounces Back! Mining Profitability on the Rise!

💹 After a recent 5.62% decrease in Bitcoin's mining difficulty, there's finally some good news for miners! At block 844,704 on May 23, 2024, the difficulty surged by 1.48%, reaching an impressive 84.38 trillion.

⛏ The dip in difficulty earlier this month was accompanied by a drop in the hashprice, falling below $45 per petahash. But fear not, as BTC's value has been climbing, so has the hashprice, now standing at around $54.85.

⚡️ With Bitcoin's price soaring over $9,000 since the hashrate hit a low of 582 EH/s, miners are back in business! The overall hashrate has rebounded to over 600 EH/s, indicating a positive trend for the mining ecosystem.

🔄 This bounce-back in difficulty and hashrate suggests a recovering network, with mining profitability showing signs of improvement. So, miners, keep those rigs running and your eyes on the prize – the future of Bitcoin mining is looking brighter than ever!

🚀 Blackrock's IBIT Shatters Records with 414 Institutional Holders, Analysts in Awe

🏦 The numbers are in, and they're staggering! Blackrock's spot bitcoin ETF, the Ishares Bitcoin Trust (IBIT), has attracted a whopping 414 institutional holders, according to recent filings with the SEC. This is not your average launch; it's a mind-boggling achievement!

📈 Bloomberg's senior ETF analyst, Eric Balchunas, can't help but be impressed. He says this blows away records, as even 20 holders for a new ETF is considered rare. Other January launches like Bitwise Bitcoin ETF and Fidelity Wise Origin Bitcoin Fund pale in comparison.

💼 Leading the pack is Millennium Management LLC, with a staggering 20 million+ shares of IBIT worth around $844 million. Schonfeld Strategic Advisors LLC and the State of Wisconsin Investment Board also hold significant stakes.

🤝 While Fidelity and Bitwise have their fair share of institutional backers, with 235 and 98 respectively, they still fall short of Blackrock's ETF juggernaut. Even Grayscale's GBTC-turned-ETF can't match IBIT's institutional appeal.

💰 The numbers don't lie: IBIT holds over $18 billion worth of bitcoin (276,190 BTC). And the inflows keep coming! While Grayscale saw a slight dip, IBIT recorded an impressive $131.8 million influx. Fidelity and Ark aren't far behind either.

👔 Blackrock CEO Larry Fink's bullish stance on bitcoin seems justified. He proudly declares that IBIT is the fastest-growing ETF ever, leaving other contenders in the dust. It's clear that when it comes to institutional interest in bitcoin, Blackrock is leading the charge.

With such overwhelming support from institutions and a soaring bitcoin stash, Blackrock's IBIT is making waves in the ETF world. The future looks bright for this bitcoin behemoth!

⭐️ India's SEBI Embraces Crypto Oversight, RBI Eyes Stablecoin Ban

🤝 In a surprising move, the Securities and Exchange Board of India (SEBI) has proposed a collaborative approach to regulating cryptocurrency trading. This signals a significant shift in India's stance on private virtual assets.

🤩 On the other hand, the Reserve Bank of India (RBI) remains cautious, seeking a ban on stablecoins due to concerns about their impact on the macroeconomy.

📌 SEBI's plan suggests a multi-regulator framework, with each regulatory body overseeing specific aspects of the crypto market. This decentralized approach mirrors the US model, where the SEC regulates both securities and crypto exchanges.

➡️ The proposal recommends that virtual assets related to insurance and pensions be overseen by the Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA), respectively.

▶️ Meanwhile, the RBI's reservations stem from worries about policy sovereignty and risks associated with stablecoins tied to major economies like the US and Europe.

💼 With no official timeline, experts predict that the government panel responsible for formulating policy may submit its report by June, potentially shaping India's crypto landscape for years to come

🔈Institutional Bitcoin Adoption Is Just Getting Started, Says Anthony Scaramucci

🗣Anthony Scaramucci On Institutional Bitcoin Investment
During an interview with CNBC on Thursday, the investor said that institutional adoption is “happening now,” and that he expects more pension funds to reveal soon that they have allocations to BTC.

🔥“Bitcoin now has the regulatory approval – that was the rate-limiting step for a lot of these large-scale institutions,” Scaramucci explained. “Just remember, if you’re not long Bitcoin, then you’re possibly short Bitcoin.”

💰Leading up to May 15, nearly 1000 large investors with over $100 million in assets disclosed owning at least one of the U.S. Bitcoin spot ETFs in their securities portfolios. One of those investors included the State of Wisconsin Investment Board (SWIB), which disclosed a $162 million allocation to the ETFs this week.

🖥According to Scaramucci, institutions are dipping their toes into BTC before it becomes part of a “total tactical asset allocation index.”

📊Bitwise CIO Matt Hougan backed this view on Tuesday, predicting that institutions could begin to devote between 1% and 5% of their portfolios to BTC as they tentatively expose client funds to the asset.

📈 Cheelee Soars as Pendle Plummets: A Week of Crypto Ups and Downs

🚀 Cheelee's Rise: Amidst a mixed market, cheelee (CHEEL) emerged as the shining star, surging by an impressive 21.6% against the mighty U.S. dollar. Not far behind, Pepe (PEPE) hopped up by 13.8%, while render (RNDR) rendered a solid 13.7% climb.

📉 Pendle's Fall: Unfortunately, not all coins had a sunny week. The pendulum swung against pendle (PENDLE), which experienced a steep drop of 20.5%. Joining the downtrend, bittensor (TAU) slipped by 19.6%, and zebec protocol (ZBC) sailed down by 15.7%.

💹 Trading Buzz: Beyond the big names like BTC and ETH, other tokens made waves in trading volumes. SOL, BNB, DOGE, and PEPE took the spotlight, while XRP, TON, SHIB, WIF, and WLD also danced with considerable activity.

📊 Mixed Bag: Bitcoin dipped by 1.44%, and ethereum stumbled with a roughly 4% drop this week. Yet, not all hope was lost as Aioz network (AIOZ) powered up by 13.2%, safe (SAFE) sailed up by 13%, and thorchain (RUNE) ran ahead with a healthy boost of 10.4%.

🔻 Downside Dips: Around two dozen cryptos saw declines of at least 10%, with pendle leading the pack. Ribbon finance (RBN) tied itself in knots with a 15.5% fall, while wormhole (W) wiggled down by 14.3%. TIA, CORE, and HNT also faced notable reductions.

In the ever-changing world of crypto, it's a rollercoaster ride of gains and losses. Keep an eye on these movers and shakers as the digital landscape continues to evolve.

🚀 Trump's Crypto Endorsement Sends TRUMP Coin Soaring, BODEN Follows Suit

💼 Former President Donald Trump is making waves in the crypto world once again, and this time it's with his endorsement of digital currencies. At a glitzy NFT event, Trump didn't hold back, criticizing Joe Biden's grasp on all things crypto and urging supporters to rally behind him. The result? A market frenzy!

📈 TRUMP coin, the emblematic token of Trump's online presence, has skyrocketed by an impressive 35.6% in just 24 hours. With each coin now valued at $5.75, it's no wonder Trump's crypto wallet is bulging with a staggering $3.33 million worth of TRUMP tokens.

🌐 But the action doesn't stop there! BODEN, the digital currency associated with Biden, has also experienced a boost, albeit a more modest one. Despite Trump's disapproval, BODEN has managed to climb by a respectable 16.6%, reaching a current price of $0.357 per coin.

Whether you're a fan of Trump or Biden, it seems that their foray into the world of cryptocurrencies is causing quite the stir. As these meme coins continue to make headlines and investors scramble to get in on the action, one thing is clear: politics and digital assets are now firmly intertwined in this brave new financial landscape.

🚀 ETH Bulls Stand Strong Amidst Fluctuations and Uncertainty

💰 Ethereum's price at $3,135, with a range of $3,116 to $3,221, indicates a temporary balance between buyers and sellers. Market cap is at $378 billion, backed by a trade volume of $10.27 billion.

📉 The daily chart shows a recent dip from $3,730 to $2,801. However, consolidation around $3,000 suggests a potential recovery. Resistance near $3,300 could be an exit point.

📈 On the four-hour chart, an upswing to $3,223 signals strong buying interest. Look for entries around $3,100 or $3,150. Watch out for resistance at $3,223 as a profit-taking opportunity.

⏰ Short-term analysis (1-hour) reveals rapid changes with resistance at play. Stability around higher lows like $3,140 indicates short-term bullishness. Breaking through $3,223 is crucial.

🔄 Oscillators show neutrality overall but with some buy signals like momentum and MACD. Moving averages present mixed views; shorter-term ones lean bullish while longer-term ones suggest caution.

🐂 Bull Verdict: Cautiously optimistic! Bullish patterns and short-term indicators hint at buying interest. Holding support at $3,000 and breaching resistance at $3,223 could lead to further gains.

🐻 Bear Verdict: Bearish risks loom! Long-term moving averages signal selling pressure. Repeated failure to break key resistance levels and sharp pullbacks raise concerns about a downturn.

🚀 Marathon Shatters Records: Mining Bitcoin's Largest Block Unveils Logos' Manifesto

💎 In a dazzling display of mining prowess, Marathon has etched its name in the annals of blockchain history once more. Block 841,886 stands tall as the largest block ever to grace the Bitcoin network, and it carries with it a message – the manifesto of Logos, a champion of decentralized technology.

💰 The rewards reaped by Marathon's mining pool are nothing short of impressive. A hefty 3.16977148 BTC fills their digital coffers, with transaction fees alone amounting to a cool 0.04477148 BTC or roughly $2,654.55.

🏛 This monumental achievement surpasses the previous record held by block 832,849, which bore the mark of the Runestone Ordinal project and its enigmatic figurehead, Leonidas. While that block boasted 7 transactions, Logos' grand statement was made with just four.

📈 The trend of colossal blocks has been gaining momentum since Taproot Wizards conjured up a 3.96 MB behemoth back in February 2023. With Logos' latest feat clocking in at 3.993 MB, it seems there's no limit to the ambitions of these blockchain artists.

🎨 But let's not forget Marathon's artistic flair! Block 836,361 showcased an elegant letter "M," crafted from a mosaic of transaction types. Though smaller in size at 1.72 MB, this masterpiece managed to squeeze in an impressive 8,320 transactions.

From manifestos to mosaics, Marathon continues to push boundaries and make headlines in the world of Bitcoin mining. With each new milestone, they remind us that innovation knows no bounds on this decentralized frontier.

🚫 Russia Cracks Down on Crypto Exchanges: Domestic Operations to Face Ban

🏦 Anatoly Aksakov, Chairman of the Russian Duma for the Financial Market, Drops the Hammer

Starting September 1, Russia is set to tighten its grip on the crypto industry by banning domestic operations of cryptocurrency exchanges. This move comes as part of a broader bill aimed at regulating cryptocurrency mining in the country.

🛠 Mining Gets a Pass, but Exchanges Are Out

While mining activities and pools will enjoy certain exceptions, Aksakov's bill leaves no room for crypto exchanges. The goal? To protect the Russian ruble, which he believes is the only true monetary unit.

💱 Digital Rubles Get a Green Light

But it's not all doom and gloom for digital assets in Russia. Aksakov emphasizes that homegrown digital financial assets, such as the proposed digital ruble, will still be able to roam freely within national borders.

🌍 A Gateway to Global Markets?

Aksakov sees these digital assets as a potential game-changer for Russia's financial landscape, especially in light of economic sanctions. He even hints at their role in future international transactions, calling them a "serious channel" to replace traditional fiat currencies.

❌ Circulation Not Prohibited, Just Organized

Dispelling rumors of a total crypto ban, co-sponsor Anton Gorelkin clarifies that while exchanges are off-limits, the circulation of cryptocurrencies itself won't face restrictions. It's all about keeping things within an experimental legal framework.

🏦 Bank of Russia's Projects Get a Pass Too

Not to be left out, the Bank of Russia's own crypto endeavors will also be exempt from this regulatory crackdown. Governor Elvira Nabiullina had previously stressed the need for a controlled approach to digital currencies in international payments.

As Russia tightens its grip on the crypto landscape, it remains to be seen how this move will impact the country's position in the global digital economy.

💎Marathon Digital Chooses StanChart-Backed Zodia Custody as Crypto Custodian

📣Marathon Digital has selected Standard Chartered-backed digital asset custodian Zodia Custody to safeguard its crypto holdings.

⚡️Zodia Custody will offer secure, institutional-grade custody solutions for Marathon’s crypto holdings located outside the United States, Monday’s announcement said.

➡️The need for secure and reliable storage of digital assets is driving crypto companies to seek out crypto custodians. These specialized institutions offer a comprehensive solution, safeguarding assets from theft, loss, or misuse.

🛡Crypto custodians wield advanced security measures to achieve this protection. These safeguards include multi-signature wallets, requiring multiple approvals for any transaction. They also offer cold storage, which keeps the majority of assets offline and out of reach of online hackers.

📈 Crypto Goes Mainstream: Over Half of Canadian Institutional Investors Embrace Digital Assets in 2023

🏦 In a groundbreaking shift, a recent survey reveals that 50% of Canadian institutional investors are now actively offering crypto asset products to their clients. This marks a significant 9% increase from just two years ago.

📊 The biannual study, conducted by KPMG Canada and CAASA, highlights that nearly 40% of institutional investors now have some form of exposure to digital currencies, up from around 30% in 2021.

📈 Among the preferred investment vehicles, ETFs and regulated products take the lead, with half of the surveyed investors opting for these options. Additionally, crypto-related public equities have gained traction, attracting 58% of respondents compared to a modest 36% in the previous year.

💼 While venture capital and hedge funds saw a slight dip in interest, with only a quarter investing as limited partners, Kunal Bhasin from KPMG suggests that the industry's resilience after the FTX collapse and the allure of crypto as an inflation hedge played key roles in this evolving landscape.

🌱 Kareem Sadek, also from KPMG, emphasizes that Canada's progressive approach to approving bitcoin and ethereum ETFs and enabling advanced strategies like Ethereum staking has been instrumental in attracting institutional players.

💼 As for portfolio allocation, an impressive third of those surveyed have committed 10% or more to digital assets. This is a substantial leap from a mere 5% in 2021. The growing maturity of the market and improved custody solutions are cited as major factors driving this increased confidence.

With crypto assets gaining recognition as an alternative asset class, it seems that Canadian institutions are increasingly embracing the potential of digital currencies as they navigate an ever-evolving financial landscape.