VanEck, the U.S.-based manager with USD82.2bn AuM, has announced the imminent launch of its VanEck Bitcoin Strategy ETF (XBTF), an actively managed ETF that seeks capital appreciation by investing in standardised, cash-settled bitcoin futures contracts. XBTF is expected to list on Cboe on November 16, 2021. XBTF is the first ETF in VanEck’s suite of…
Category: Digital Assets
Marlin appoints Apex
Apex has been appointed to provide fund administration and accounting services to Marlin Capital Partners, headquartered in Nassau. Apex, and its subsidiary Throgmorton, will provide outsourced ManCo, middle office, and fund administration services. The appointment comes ahead of the launch of Marlin’s Dauntless Fund, which will focus on arbitrage opportunities within the digital asset space.
U.S. Bank to administer Bitcoin futures ETF for Valkyrie
U.S. Bank has been appointed by Valkyrie Funds, LLC, a U.S. manager focused on the digital asset class, to provide fund administration services for the recently launched Bitcoin Strategy ETF. The futures contracts held by the fund are cash delivered and available from CME Group. The fund is the first in a planned suite of…
State Street wins digital custody mandate
State Street has been appointed to provide custody services to the Digital Securities Depository Corporation (DSDC). DSDC operates a cross-border securities settlement infrastructure with third-party regulated financial institutions to create, issue and service digital depositary receipts (DDRs) in the US public market. The securities underlying the DDRs will include the non-US listed equity securities DSDC…
U.S. Bank launches cryptocurrency custody service
U.S. Bank has launched its cryptocurrency custody service, targeted at institutional investment managers with private funds in the U.S. and/or Cayman looking for a safekeeping solution for Bitcoin, with additional coin support to follow. NYDIG, a technology and financial services company dedicated to Bitcoin, is the first crypto sub-custodian appointed in the bank’s network of…
BNY Mellon adds three senior managers to digital business
BNY Mellon continues to build out its digital senior management team, announcing three new hires. Hadley Stern joins as global head of digital custody, responsible for overseeing business and product development for the digital custody offering. He was most recently head of Amazon Web Services’ innovation labs. He will report to Caroline Butler, head of…
Citi’s Chris Perkins joins CoinFund
CoinFund, a blockchain-focused investment firm, has hired Chris Perkins from Citi as managing partner and president. At Citi, Perkins was global co-head of the futures, clearing and foreign-exchange prime brokerage businesses. At CoinFund, he will work to narrow the divide between crypto investing and traditional equities. Jake Brukhman, CoinFund’s founder and CEO, said: “Chris Perkins…
New CEO at SIX Digital Exchange
SIX Digital Exchange has appointed David Newns as CEO, replacing Tim Grant, who is moving to Galaxy Digital. Newns joins from State Street, where he was global head of GlobalLink Execution Services, which includes the FXConnect and Currenex trading platforms.
GK8 partners with Securrency
GK8, an Israel-based cybersecurity and digital asset custodian, has partnered with fintech company Securrency to provide banking clients with institutional-grade blockchain services. The partnership centres around GK8’s enterprise-grade custody solutions, which will become available to Securrency’s clients as it builds its tokenisation infrastructure. Securrency’s main focus is tokenising real-world assets such as stocks, commodities and…
State Street partners with Lukka for crypto asset admin
State Street is to provide digital and cryptocurrency asset fund administration capabilities for the firm’s private funds clients in partnership with Lukka, a crypto asset data and software provider. State Street will support its private fund clients with collection, standardisation, enrichment, reconciliation, processing and reporting related to crypto and other digital assets. The partnership comes…