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Are bitcoinâs ESG credentials impacting its popularity? By Jamie Gordon, 5 May 2021
How bitcoin stacks up from an ESG perspective is becoming an increasing concern for investors after a coal mine shutdown in Xinjiang shone a light on the cryptocurrencyâs operations.
News of the coalmineâs two-day shutdown sent the price of bitcoin tumbling 23% as the digital assetâs global computing power was cut by a third.
Analysis by CoinShares noted flows into digital assets in the week ending 23 April slowed to their lowest level since October 2020 as bitcoin mining issues in Xinjiang saw assets under management (AUM) drop $10bn, down to $54bn.Â
Bitcoin and Ethereum ETPs from ETC Group and HANetf beat rivals for inflows, daily turnover and spreads
BTCE has attracted inflows of US$459.7mln in the first three months of the 2021, with daily turnover of US$51.158mln nearly double its nearest rival
ETC Group said its physically backed Bitcoin and Ethereum products have been the top exchange-traded products (ETP) for inflows, daily turnover and spreads in Europe this year.
The BTCetc - ETC Group Physical Bitcoin (BTCE), which was the first cryptocurrency product on Deutsche Boerse’s Xetra platform when it went live last year, and the Physical Ethereum ETC (ZETH), which arrived last month.
Tesla Inc. (NASDAQ:TSLA) has decided to accept it as a payment method.
One Record After Another: Bitcoin (BTC) almost reached the $50,000 mark, stopping just one step away from the finish line at $49,716.44. As it’s always the case when it comes to cryptocurrencies, volatility is still very high, but the increase in price – between ups and downs – has been a constant trend since September. After the record high reached at the end of 2017, Bitcoin value collapsed to $4,000. Today, it reached again the highest level, increasingly attracting interest among both private and institutional investors.
When It All Began: It was 2009 when Satoshi Nakamoto created the most famous cryptocurrency in the world. Unlike a fiat currency, it is not distributed by a central bank, but it’s based on a network of PCs that distributes it based on a cryptography mechanism that is used to validate transactions. Another feature is the limited amount: only 21 million Bitcoins are available on
ETC Group and
BTCetc Bitcoin Exchange Traded Crypto is to list in Zurich on
SIX Swiss Exchange.
This will be the ETP’s second listing after it debuted on Deutsche Börse’s
Xetra platform with ticker
BTCE GY in June 2020.
The Swiss listing will be available to trade in three currencies: US dollars (USD), Swiss francs (CHF), and pound sterling (GBP).
BTCE is 100% physically backed and provides investors with a secure and transparent way to gain exposure to the largest cryptocurrency by market capitalization.
The product offers several potential advantages over investing directly in bitcoin. These include being traded on transparent, regulated markets; enabling investors to effectively contract-out the technical challenges of purchasing and storing bitcoin, and imparting an additional layer of liquidity in the form of on-exchange trading.