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On June 16, sources said that the EU will not unilaterally reduce the price ceiling of Russian oil from $60 to $45, and this move is unlikely to be supported by the G7 group. The draft of the 18th round of EU sanctions against Russia includes a proposal to lower the Russian oil price ceiling. European Commission President Ursula von der Leyen has said that any decision to lower the Russian oil price ceiling must be made together with G7 partners and will be discussed at the upcoming G7 summit in Canada.June 16, OPEC lowered its expectations for supply growth from the United States and other competitors next year, but maintained its expectations for oil demand while continuing to increase production. OPEC expects supply from oil-producing countries outside OPEC+ to fall to 730,000 barrels per day in 2026 from 800,000 barrels per day previously. U.S. oil production is expected to increase by 210,000 barrels per day, compared with a previous expectation of 280,000 barrels per day, reflecting a decline in capital expenditures and a slowdown in drilling activities. The latest OPEC monthly report did not directly mention the conflict between Israel and Iran. The biggest concern in the market is that Iran may close the Strait of Hormuz, an important shipping choke point where about a third of the worlds oil passes through. Analysts say any supply disruptions could prompt OPEC+ to adjust its strategy and restore supply faster than expected. But OPEC seems to be on the sidelines and has not made any plans to hold a special policy meeting. OPEC currently has more than 5 million barrels per day of idle capacity.The New York Fed manufacturing index for June will be released in ten minutes.According to Israeli media: Israels new round of air strikes targeted dozens of targets in central Iran.June 16, according to the financial website Forexlive, the Bank of Japan is expected to keep interest rates unchanged at 0.5% and slow the pace of reducing bond purchases from fiscal 2026. Few expect the Bank of Japan to change its current plan, only to announce adjustments in the next fiscal year to reduce the quarterly reduction to around 200 billion yen. If the Bank of Japan announces adjustments for the current fiscal year, it will be a surprise and will have a big impact on the yen. A faster pace of reduction will boost the yen, while a slower pace will weaken it. In terms of interest rates, the market expects only a 17 basis point increase this year, which means that there is basically a 50% chance of a 25 basis point increase by the end of the year. The comments of the Bank of Japan spokesperson were roughly the same, with no signs of interest rate adjustments in the short term. They continue to focus a lot of attention on the US-Japan trade agreement and the evolution of inflation. Japans potential inflation has been rising steadily, which should keep the probability of interest rate hikes high, especially considering that the United States and Japan will eventually reach a trade agreement. Therefore, pay attention to more clear signals about interest rate changes and timing.

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.

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