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On August 17, the foreign ministers of eight countries—Egypt, Qatar, Jordan, the United Arab Emirates, Indonesia, Pakistan, Turkey, and Saudi Arabia—issued a joint statement on August 16, strongly condemning Israels recent rejection of the Gaza peace plan. The statement said the plan, accepted by all Palestinian factions, is a significant achievement resulting from extensive efforts by mediators. Israels public refusal to implement the Gaza peace plan is a direct denial of it and fundamentally undermines collective efforts towards a just and lasting peace. The statement also pointed out that Israel bears direct and full responsibility for all the consequences, including the deterioration of the situation and the obstruction of the Gaza peace process. The eight foreign ministers stated in the statement that the United States should continue to actively participate in the implementation of the Gaza peace plan to ensure Israels full compliance with the plan and fulfillment of its commitments, and to prevent further obstruction of its implementation.On August 17th, sources close to the deal revealed that Zhou Bingshu, CEO of Lingxi Interactive Entertainment, confirmed in an internal letter that Alibaba Group and CITIC Capitals Xinchen Capital have officially reached a transaction agreement. According to the agreement, Alibaba will transfer its shares in Lingxi Interactive Entertainment, and Xinchen Capital will become the new shareholder. Previously, reports indicated that CITIC Capitals Xinchen Capital would acquire Alibabas Lingxi Interactive Entertainment for over US$1.5 billion (over RMB 10.1 billion).Piper Jaffray: Raises its price target for PayPal (PYPL.O) from $42 to $59.The Hang Seng Tech Index rose 2%, with tech and chip stocks leading the gains. SenseTime (00020.HK) jumped over 8%, and Hua Hong Grace (01347.HK) rose 6.76%.Futures News, August 17th: The progress of diplomatic contacts between the US and Iran has slowed, and the geopolitical dynamics are exhibiting multiple characteristics. Changes in expectations regarding the Strait of Hormuzs reopening: Initial estimates of US-Iran negotiations and the resumption of navigation in the Strait of Hormuz pushed down crude oil prices. However, with Iran demanding the lifting of sanctions and compensation, and the US also making corresponding claims, the pace of negotiations slowed, and previous expectations for a rapid resumption of navigation were revised. Traders are now incorporating the uncertainty of the shipping route into asset pricing. Supply recovery progress assessment: The ongoing geopolitical situation in the Middle East continues to affect the recovery of regional oil production and logistics. Assessment data indicates that although OPECs total production in July is estimated at approximately 19.4 million barrels per day, this is still below the pre-war level of 27 million barrels per day. According to EIA estimates, approximately 5.5 million barrels per day of production capacity in the Middle East remained shut down in July. If shipping through the Strait of Hormuz continues to be disrupted in August, the scale of production shutdowns is estimated to expand to 6.6 million barrels per day. From the perspective of market capital and position changes, with the increasing uncertainty of diplomatic negotiations, short positions previously established based on the expectation of a rapid resumption of navigation in the Strait of Hormuz have been adjusted, and geopolitical risk factors are once again reflected in market pricing. Against the backdrop of low traffic volume in the Strait of Hormuz, short-term prices have broken away from the previous downward trend, and the markets sensitivity to geopolitical news has significantly increased. Overall, the fluctuating progress of US-Iran negotiations and expectations of navigation in the Strait of Hormuz have prompted the market to reassess the risk premium on the supply side of crude oil. The core focus of the market going forward will remain on: the actual navigation status of the Strait of Hormuz, the subsequent progress of US-Iran diplomatic negotiations, and the evolution of the regional geopolitical situation. The subsequent development of these fundamental and logistical variables will continue to serve as the main basis for the markets assessment of the supply structure.

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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