EUR/USD 1.15848
0.143%
Gold 3376.16
0.568%
Oil 65.081
-2.310%
USD/JPY 147.084
-0.235%
GBP/USD 1.33065
0.345%
GBP/JPY 195.720
0.108%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: The EU will suspend trade countermeasures against the United States for 6 months.OPEC production remained stable as Saudi Arabias cuts offset an increase in the United Arab Emirates, a survey showed.On August 4th, analyst Jeremy Boulton stated that dollar bears may have to wait patiently, but this wait will come at a heavy cost. Last weeks non-farm payroll report ended the dollars rally that had unnerved traders, but a renewed decline may be some time away. The dollars overall trend this year is undoubtedly downward, but the current decline is showing signs of fatigue. With many traders already positioned for short positions, any further decline is likely to be slow and limited. If this happens, the profits of dollar short sellers will be gradually eroded by interest rate differentials: the gap between the US and Japan is particularly wide, and the gap between the US and Europe is also considerable. While the sharp drop in the dollar triggered by Fridays non-farm payroll data may attract more short sellers, it also reduces the dollars potential for further decline. While the first interest rate cut could come as early as September 17th, the next one may not happen until December 10th. For traders betting on a falling dollar, this waiting period will incur significant capital costs.Ritterbusch Associates, a US-based firm, reported on August 4th that given the significant uncertainty surrounding Trumps tariffs, the oil market could see some significant volatility going forward. Tensions between the US and Russia will continue to be a focus, potentially leading to a significant increase in sanctions. However, the firm added that support levels are difficult to predict due to bearish factors such as increased US import tariffs and strong OPEC+ production.On August 4, the International Monetary Fund (IMF) said Saudi Arabia has already cut spending enough this year and may not need further fiscal adjustments even if crude oil prices weaken. At the end of 2024, Saudi Arabia said it would cut spending in 2025 to 1.285 trillion riyals ($342 billion) after exceeding spending targets to drive progress on its economic diversification plan. Amin Mati, the IMFs special envoy to Saudi Arabia, said that despite the governments spending cuts, spending is likely to be higher than budgeted, with some one-time expenditures continuing. Saudi Arabias fiscal deficit is expected to rise to 4% this year, a "reasonable" level given the countrys ample foreign exchange reserves. The Saudi governments own forecast is 2.3%.

Carbon Neutral Bitcoin and Ethereum ETPs Listed on Swiss Exchange

Cory Russell

Apr 12, 2022 10:43

The two new ETPs on SIX are Bitcoin Zero (BTCO2) and Ether Zero (ETH2O).


The ETPs are the product of a campaign known as "Crypto becomes carbon neutral."


The debut took place at a time when the stock market was in free collapse.


While the crypto market and the stock market are two distinct things, investors can't seem to get enough of both. As a consequence, we are seeing the emergence of Exchange Traded Products (ETPs) (ETPs).


People desire something more sustainable even inside these ETPs, and carbon-neutral ETPs have been designed to meet that need.

Crypto Becomes Carbon Neutral

The influence of crypto on the environment has been a long-debated matter, with no clear answer in sight.


To put a stop to this, the European Union nearly outright outlawed proof of work, but the majority of members voted against it, saving Bitcoin, Ethereum, and other (PoW) cryptocurrencies.


Other businesses, on the other hand, are still attempting to become carbon-neutral, as did an ETP provider for the stock market.


In collaboration with the Swiss FinTech Innovation Lab of the Institute for Banking and Finance at the University of Zurich, Helveteq, a Swiss issuer of ESG-transparent investment products, launched the research-based project "Crypto becomes carbon neutral."


The two ETPs, Bitcoin Zero (BTCO2) and Ether Zero (ETHZ), were born from it (ETH2O).


"It is time to give investors the first carbon neutral crypto ETPs from a Swiss issuer," Dr. Christian Katz, the CEO of Helveteq, said. The relationship between the environment and the blockchain economy is becoming more widely recognized, and we must all work together to create long-term solutions."


These ETPs will be added to SIX's pool of 240 other investment products.

Perhaps Now Isn't the Best Time?

The introduction of the ETPs, which was announced today, was not the best timing given the current state of the crypto market. The market has lost more than $122 billion in total, forming a 6.25 percent long red candle.


However, even before today, the overall market capitalization had fallen below $2 trillion, and is at $1.841 trillion. As a result, there's a significant likelihood that this will have a detrimental impact on the launch of these ETPs.

Suggestion