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First European Spot Bitcoin ETF Listed on Public Market

First European Spot Bitcoin ETF Listed on Public Market

Explore Europe's debut crypto ETF, Prime Trust's bankruptcy, Singapore's stablecoin regulations, charges against Filecoin mining, and a $7.5M raise for decentralized trading.

Welcome to another edition of Datawallet Daily, a place where you can find out the latest news that is driving the crypto markets. Today’s drop covers the following topics:

Europe’s spot first Bitcoin ETF gets listed 

Jacobi Asset Management, based in London, has introduced the first spot bitcoin exchange-traded fund (ETF) in Europe. The ETF, named Jacobi FT Wilshere Bitcoin ETF, has been listed on Euronext Amsterdam after receiving approval almost two years ago. Regulated by the Guernsey Financial Services Commission (GFSC), it will be traded under the ticker symbol "BCOIN." Custodial services for the fund are provided by Fidelity Digital Assets and market-making activities are handled by trading firm Flow Traders. This was made by Jacobi on Tuesday.

Initially approved in October 2021, Jacobi had plans to list the fund in 2022 but decided to postpone due to unfavorable conditions prevailing in other areas of the digital asset market. These conditions included setbacks like the collapse of Terra ecosystem and bankruptcy of crypto exchange FTX and former CEO Sam Bankman-Fried.

Prime Trust files for bankruptcy in Delaware

On Monday, Prime Trust, a fintech company specializing in custody and related services for digital assets, submitted a Chapter 11 bankruptcy petition in a Delaware court. The company cited a deficit in customer funds earlier this year as the reason for seeking protection. In accordance with court documents, Prime Trust and several of its affiliates have between 25,000 and 50,000 creditors.

Singapore releases stablecoin rules

The Monetary Authority of Singapore has officially established new regulations for stablecoins. The objective of this framework is to guarantee the stability of value for regulated stablecoins in Singapore, according to an announcement made by MAS on Tuesday afternoon in Asia. In October last year, the watchdog began a public consultation regarding this framework and took into account feedback while designing the new rules.

Filecoin mining firm charged for running $83.3 million pyramid scheme

The court in China has recently dealt with a lawsuit involving a Chinese Filecoin mining company and its four top officials. They are being accused of participating in an $83.3 million pyramid scheme, as stated by the court. 

The local court located in Pingnan county within the Guangxi autonomous region announced on Monday through a social media post that it had commenced the trial against Shenzhen Shikongyun Technology and its four executives, one of whom is surnamed Lai. These individuals are suspected of orchestrating and leading activities related to pyramid schemes. The case is currently undergoing additional trial proceedings for further evaluation.

A decentralized stock trading platform raises $7.5 million

Dinari, a company that strives to offer access to tokens backed by real-world assets, recently revealed a $7.5 million seed investment in preparation for the launch of its dShare Platform outside of the United States. Among the investors are SPEILLLP, which is part of the Susquehanna International Group of companies, 500 Global, and Balaji Srinivasan - previously Coinbase's chief technology officer. The funding round also saw participation from Third Kind Venture Capital, Sancus Ventures, and Version One VC.

Other breaking news

Wrapping up

That’s all for today’s edition, folks. Today’s drop covered Europe’s first crypto ETF going live in the Netherlands, while Singapore managed to pass its comprehensive stablecoin rules and regulations. Prime Trust filed for bankruptcy; meanwhile, Filecoin is charged with allegedly running a pyramid scheme. Stay tuned for more updates in our rapidly evolving space.