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July 14th - According to foreign media reports, South Koreas ruling party is pushing for amendments to relevant laws to make it easier for chipmaker SK Hynix to form joint ventures with external investors to build wafer fabs. Current law prohibits joint ventures between subsidiaries of subsidiaries. If the amendment is passed, SK Hynix will be able to attract external capital for its new wafer fab projects, provided it retains at least a 50% stake in the relevant joint venture. SK Hynix is a subsidiary of SK Square, which in turn is a subsidiary of the SK Group. The lawmakers proposing the amendment stated in the bills explanation that South Korea must "rapidly build wafer fabs to compete with other major countries and companies," as companies can no longer afford such massive investment costs through traditional financing methods alone. The lawmakers also stated that the amendment requires the headquarters or main offices of newly established joint ventures to be located outside the Seoul metropolitan area to align with the governments policy of promoting regional economic development.According to the Financial Times: As Brexit affects Gibraltar, starting this week, British citizens flying from the UK to Gibraltar will have to go through the EUs controversial new electronic border system.According to the Financial Times, U.S. small-cap stocks surged as investors turned their attention away from large-cap tech stocks.July 14th - According to foreign media reports, ahead of escalating tensions and the US announcement of a renewed blockade of Iranian ports, Iran has begun secretly transporting oil tankers through the Strait of Hormuz in recent days. Ship tracking data shows that six Very Large Crude Carriers (VLCCs) sanctioned by the US transited the Strait of Hormuz into the Gulf of Oman in the past week, with their Automatic Identification System (AIS) transponders turned off. These six tankers can collectively carry 12 million barrels of crude oil. These vessels, along with other ships linked to Iran, completed their voyages after the US revoked its temporary permit for Iranian crude oil sales on July 7th. In addition to the aforementioned six Iranian VLCCs, numerous other ships sanctioned by the US and linked to Tehran have also departed the Strait of Hormuz since July 7th. These vessels are part of the 57 million barrels of crude oil that Iran successfully exported between two rounds of US naval blockades.On July 14th, futures market news reported that yesterday, as tensions escalated, including the US continuing its attacks on Iran and reimposing a blockade on Iranian oil exports, oil prices surged. Currently, WTI crude oil has rebounded to around $80 per barrel, and Brent crude has climbed back above $85 per barrel, showing significant gains. Zhuochuang Information predicts that continued attention will be paid to the consequences of the renewed US-Iran attacks. Against the backdrop of heightened tensions, crude oil prices are generally expected to remain strong, but the possibility of Trump resuming peace talks also needs to be monitored. If talks are initiated, oil prices will likely fall rapidly. Therefore, overall volatility is expected to be high.

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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