Crypto investors have been pouring money into bitcoin exchange-traded products (ETPs) at a record pace since BlackRock filed for a spot-based ETF on June 15. According to K33 Research, the BTC-equivalent exposure of ETPs listed worldwide increased by 25,202 BTC ($757 million) to 196,824 BTC in the four weeks to July 16. This is the second-highest monthly net inflow, surpassed only by the inflows seen following the launch of ProShares’ futures-based ETF and other futures-based ETFs in October 2021, according to K33 Research’s Vetle Lunde.
Societe Generale’s (GLE) cryptocurrency division, SG Forge, has become the first company to receive a license to offer crypto services in France from the country’s financial regulator. SG Forge is licensed to provide buying and selling, exchange, and custody of digital assets as of July 18, according to the Autorité des Marchés Financiers (AMF)’s website.
This week, messaging platform Telegram issued $270 million in bonds to fund its growth until we reach the break-even point, according to CEO Pavel Durov. The platform is not yet profitable and has rising expenses due to its massive growth, Durov said. He also personally bought about a quarter of the new Telegram bonds, investing tens of millions into Telegram’s growth. Telegram has long been a favorite among crypto enthusiasts, partly attributable to the company’s defunct efforts to launch its own crypto token, GRAM.
That’s the second-highest monthly net inflow, surpassed only by inflows seen following the launch of ProShares’ futures-based ETF and other futures-based ETFs in October 2021, said K33 Research’s Vetle Lunde.