Clients of Wealthfront, an automated investment service, can now gain exposure to crypto through the addition of two cryptocurrency trusts to the robo-adviser’s investment offerings. The Palo Alto, Calif.-based firm has expanded its roster of investment vehicles to include the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). The move marks the first by a major robo-adviser in the U.S. to offer clients crypto exposure, an announcement by Wealthfront Friday claimed.
The DeFi Alliance and KPMG in partnership with The Block hosted a half day event exploring the intersection of DeFi and Institutions. This 4 hour event featured some of the world’s leading investors, builders, and regulators shaping the future of finance.
Crypto-related language said to be contained in a still-in-flux bipartisan infrastructure spending bill has spurred activity lobby groups in Washington, D.C. On Thursday, the Blockchain Association derided the proposed spending package as one that “threatens crypto innovation.” As previously reported, one of the bills “pay-fors” is tightened tax reporting requirements for crypto companies, which are estimated to raise some $28 billion to be used to fund infrastructure projects over a period of years.
Pan-European financial markets operator Euronext (ENX.PA) said on Thursday it has begun assessing how to cut reliance on a London Stock Exchange clearing house in Paris after acquiring an alternative in Italy. Euronext, which runs the Paris, Milan and Amsterdam stock markets among others, uses the LSE’s LCH SA clearing house for its share trades, but since acquiring Borsa Italiana from the London exchange in April, it now has its own clearing house, CC&G.
Major cryptocurrency exchange Binance said on Friday it would wind down its futures and derivatives business across Europe, the latest move by the platform to dial back its product range as pressure grows from regulators across the world. Binance users in Germany, Italy and the Netherlands will be unable to open new futures or derivatives products accounts with immediate effect, the exchange said in a statement on its website.