Bitcoin’s long winter remains chilly, but that isn’t putting off all investors.
Of 180 exchange-traded products in crypto, Morgan Stanley says more than half launched after the bear market began.
That’s despite the value of assets in the market slumping 70% over the period.
Most of those funds are focused on the big two – bitcoin and ether – with investors seemingly still ready to bet on long-term success for the coins.
Crypto has a new royal fan.
Queen Maxima of the Netherlands has advocated for central bank digital currencies, or CBDCs.
Speaking at the IMF annual meeting in Washington, she said such e-coins could be good for marginalized communities and those without access to bank accounts.
“CBDCs could help provide the best of both worlds: encouraging providers to lower costs and unburden access, while also incorporating the advantages of Central Bank money, such as safety, finality, liquidity and integrity.”
Around 90% of the world’s central banks are now experimenting with or considering such coins.
And crypto.com has chosen Paris for its European base.
The trading platform will invest almost $146 million to set up there.
Crypto.com has more than 50 million users worldwide, and won regulatory approval from Paris last month.
Rival Binance is also seeking a French base.
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