The asset manager of Bitwise has listed four Bitcoin BTC$84,457 and Ether ETH$1,595 exchange-traded products on the London Stock Exchange. By this, it is expanding its presence in the European region.
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The asset manager of Bitwise has listed four Bitcoin BTC$84,457 and Ether ETH$1,595 exchange-traded products on the London Stock Exchange. By this, it is expanding its presence in the European region.
According to the April 16 announcement, these listings include the Bitwise Core Bitcoin ETP, the Bitwise Physical Bitcoin ETP, Bitwise's Physical Ethereum ETP, and the Bitwise Ethereum Staking ETP.
According to Cointelegraph, the products are available to institutional or otherwise-qualified investors with an accreditation, and not open to retail investors.
Bitwise is also aiming to launch crypto investment vehicles as digital assets gain a greater foothold in global financial markets. This will attract more institutional interest in crypto and increase the legitimacy of the nascent asset class.
According to the on-chain analytics platform Santiment, in the last five years, the transaction costs on the Ethereum network have dropped to the lowest level as the amount of activity on the blockchain is in a lull.
In a blog post on April 17, the Santiment marketing director Brian Quinlivan said that Ethereum network fees are now around $0.168 per transaction and the reduction in fees coincides with fewer people sending Ether ETH$1,595 and interacting with smart contracts.
Quinlivan said,
“When many people are using Ethereum, users bid higher fees to get their transactions confirmed faster This drives the average costs up.”
“When fewer people are transacting, like we see now, users don’t need to bid much. As a result, the average fee drops,” he explained. “It’s essentially a supply and demand system.”
Panama City mayor Mayer Mizrachi announced on April 15 that cryptocurrency payments will be accepted for taxes and municipal fees by Panama’s capital city. This includes bus tickets and permits.
Mizrachi posted on the X platform, that Panama City will also begin accepting Bitcoin BTC$84,457, Ether ETH$1,595, Circle's USDC USDC$1.00, and Tether's USDt USDT$0.9997 stablecoin for payment once the crypto-to-fiat payment rails are established.
Mizrachi also said previous administrations attempted to push through similar legislation but failed to overcome stipulations requiring the local government to accept funds denominated in US dollars.
According to the Cointelegraph, in a translated statement, the Panama City mayor said that the local government partnered with a bank that will immediately convert any digital assets received into US dollars, allowing the municipality to accept crypto without introducing new legislation.