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<ul><li>Indians investors will now be able to participate in the emerging blockchain industry growing worldwide through this mutual fund.</li><li>Invesco CoinShares Global Blockchain ETF Fund of Fund is India’s first mutual fund scheme to offer investment in the blockchain ecosystem.</li><li>These are details you need to know about the new fund offer and steps on how to invest.</li></ul>For those who are nervous about investing in a <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> but believe that large businesses can benefit from the blockchain technology, here is a chance to invest in such companies. The new fund offer opens on December 8. Recently, financial market regulator Securities and Exchange Board of India (SEBI) gave a nod to Invesco Mutual Fund’s Invesco CoinShares Global Blockchain ETF Fund of Fund (FoF). This fund is India’s first mutual fund scheme that invests in global companies in the blockchain ecosystem. The fund is investing in a global fund that invests in upto 50 companies that are into the blockchain ecosystem. Some of this companies include: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industry description </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blockchain technology solution providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IBM, Oracle </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cypocurrent exchange platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coinbase, CME Group </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blockchain payment systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Square </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mining hardware company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AMD </td></tr></tbody><tbody></tbody><tbody></tbody></table> Interestingly, 15 Indian banks including ICICI Bank, Axis Bank, Bajaj Allianz, SBI, Kotak Mahindra Bank have reportedly planned to adopt blockchain technology to start <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/15-banks-to-start-new-trade-finance-system-using-blockchain-tech/articleshow/83545043.cms">a new trade finance system</a>. Reports say the new system will verify data using invoices on goods and services tax (GST) and e-way bills which will quicken transactions and also eliminate risk of frauds. What is Invesco CoinShares Global Blockchain ETF Fund of Fund ? Invesco CoinShares Global Blockchain is a global exchange traded fund (ETF) that invests in a portfolio of companies that are involved in the blockchain ecosystem directly or indirectly. The Indian fund will invest in the underlying global fund and try to duplicate the return. The fund has delivered 96% in the last one year. Here is how to invest in <keyword id="12539690" type="General" weightage="20" keywordseo="invesco-coinshares-global-blockchain-etf-fof" source="Orion">Invesco CoinShares Global Blockchain ETF FoF</keyword> and important details related to the fund. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fund opening dates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NFO opens on November 24 and closes on December 8 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum lump sum investment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum SIP investment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹500 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum quarterly investment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,500 </td></tr></tbody><tbody></tbody><tbody></tbody></table> Way to invest in this global fund is just like investing in a mutual fund. There are a list of new age fintech startups like Groww, Upstox, Zerodha Coin wherein you can start your investment easily in a few clicks. Just one thing mandatory for any investment in financial markets is having a demat account. If you do not have an account with any fintech mobile application, then you can directly create an account with the mutual fund house whose fund you wish to invest in. In this case, you can make an account with <a href="https://invescomutualfund.com/">Invesco MF</a>. <ul><li>Go the concerned MF website and click on ‘invest now’ or ‘invest online’</li><li>Complete you eKYC by submitting your PAN and Aadhaar details</li><li>Mention the amount you want to invest and choose frequency of investment</li><li>You can also give online instructions to your bank to transfer the decided amount to the fund house in case of SIP. </li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/a-big-vc-backing-oyo-sharechat-and-epic-games-is-investing-in-cryptocurrency-and-he-is-not-alone/articleshow/87710161.cms">The partner at a VC firm backing OYO, ShareChat and Epic Games explains why it’s betting big money on crypto ⁠— and he’s not alone</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-are-the-five-ipos-that-doubled-investors-money-on-listing-in-2021/slidelist/87713646.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-are-the-five-ipos-that-doubled-investors-money-on-listing-in-2021/slidelist/87713646.cms">Sigachi broke Paras Defence’s record⁠—these are the five IPOs that doubled investors’ money on listing in 2021</a>

Now you can invest in global blockchain companies through this mutual fund ⁠— here's how to do it

<ul><li>The Securities and Exchange Board of India (<keyword id="35210" type="General" weightage="20" keywordseo="SEBI" source="Orion">SEBI</keyword>) has warned <keyword id="6357979" type="General" weightage="20" keywordseo="mutual-funds" source="Orion">mutual funds</keyword> to hold off from launching any crypto-centred offerings until regulations come in.</li><li>India’s cryptocurrency bill was supposed to be discussed during the previous session of Parliament earlier this month, but did not make it to the table.</li><li>Invesco Mutual Fund has already delayed the launch of its crypto-based exchange-traded fund (ETF) and Navi Mutual Fund’s application is still pending approval from SEBI. </li></ul>India’s market watchdog, the Securities and Exchange Board of India (SEBI), wants mutual funds to wait it out before coming up with new fund offers (NFOs) based on <keyword id="6368079" type="General" weightage="20" keywordseo="crypto-assets" source="Orion">crypto assets</keyword>. According to SEBI Chairman Ajay Tyagi, mutual funds should not be making such investments until there’s a law in place to regulate the industry. And, as things stand, India’s Cryptocurrency and Regulation of Official Digital Currency Bill (2021) is still pending approval from the Cabinet — the highest decision making authority in the country led by the Prime Minister, Narendra Modi. “It is prudent for regulated entities with public markets exposure or focus, or any form of public solicitation, to wait for additional clarity regarding the legality or definition of digital assets as assets or securities or commodities in India,” Nitin Sharma, partner at Antler India and blockchain lead for Antler Global, told Business Insider. <cmsannotation type="cmsannotation" annotationid="Caught in limbo" comment="subhead" text="Caught in limbo">Caught in limbo</cmsannotation> The warning from SEBI comes after asset management company Invesco Mutual Fund <a href="https://www.invescomutualfund.com/docs/default-source/default-document-library/press-release---blockchain.pdf?sfvrsn=80e88ac2_0">delayed</a> the launch of its blockchain fund — the first of its kind in India — due to legislative uncertainty, even though they already have the green stamp from SEBI. “A lot of HNIs, family offices and retail investors will be drawn to such options because they are more comfortable with indirect exposure right now, even at a cost, versus dealing directly with digital assets,” said Sharma. Invesco isn’t the only mutual fund in India wanting to dip its two in the crypto space. Earlier this month, Navi Mutual Fund also filed a draft with SEBI for a Blockchain Index Fund of Funds (FoF), which will track the IndxxBlockchain Index. The IndxxBlockchain Index, however, index doesn’t track crypto assets directly. Instead, it tracks mainstream companies like Nvidia, Advanced Micro Devices and others that have some crypto activity. The index also includes Indian IT giants like Infosys, Wipro, and TCS. “As and when this space matures, we can definitely expect multiple mutual fund houses coming up with Blockchain specific funds. These funds do not necessarily need to have direct exposure in crypto,” Edul Patel, the CEO and co-founder of Mudrex, told Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-ethereum-shiba-inu-rake-up-losses-with-the-crypto-dip-showing-no-signs-of-slowing-down/slidelist/88557375.cms">Bitcoin, Ethereum, Shiba Inu rake up losses with the crypto dip showing no signs of slowing down</a> <a href="https://www.businessinsider.in/cryptocurrency/news/dogecoins-co-creator-now-owns-just-40000-of-the-meme-token-and-says-he-has-nothing-to-do-with-it-anymore/articleshow/88551122.cms">Dogecoin's co-creator now owns just $40,000 of the meme token -- and says he has nothing to do with it anymore</a>

India’s market watchdog warns mutual funds to stay away from crypto assets at least until regulations come in

<ul class="summary-list"><li><keyword id="11965073" type="UNKNOWN" weightage="60" keywordseo="blackrock" source="Orion">BlackRock</keyword>'s <keyword id="12521562" type="UNKNOWN" weightage="60" keywordseo="ishares" source="Orion">iShares</keyword> chief said the asset manager has "no current plans" to launch a <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> <keyword id="11996288" type="UNKNOWN" weightage="60" keywordseo="etf" source="Orion">ETF</keyword>, Financial News reported.</li><li>Salim Ramji said he is holding back due to the "opaque" regulatory framework and liquidity worries.</li></ul><a href="https://markets.businessinsider.com/stocks/blk-stock">BlackRock's</a> global head of iShares said the $9.5 trillion asset manager has "no current plans" to launch a crypto exchange-traded fund. In an interview with <a href="https://www.fnlondon.com/articles/blackrocks-ishares-boss-says-the-firm-is-in-no-hurry-to-launch-crypto-etfs-20211112">Financial News</a>, Salim Ramji said he likes <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> and believes them to be a disruptive technology. But he pointed to an "opaque" regulatory framework and liquidity worries as reasons to hold back on a crypto ETF launch. "Before we wrap or put our brand on it, we want to be certain that clients are going to be happy with us five years from now, 10 years from now," Ramji said.The remarks follow <a href="https://markets.businessinsider.com/news/currencies/bitcoin-larry-fink-jamie-dimon-worthless-opportunities-blockchain-crypto-blackrock-2021-10">BlackRock CEO Larry Fink's recent comments</a> that he saw "huge opportunities" for blockchain technologies, which enable cryptocurrencies. "We're studying blockchain and the whole concept of crypto and we believe that will play a very large role," said Fink when asked whether BlackRock investors will have access to crypto products.In October, the SEC approved the <a href="https://markets.businessinsider.com/news/currencies/bitcoin-futures-etf-cryptocurrencies-stocks-funds-markets-experts-sec-2021-10">ProShares Bitcoin Strategy ETF</a>, the first ever <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> futures ETF. The fund collected $1 billion of assets under management in its first two days. <a href="https://markets.businessinsider.com/news/currencies/bitcoin-etf-valkyrie-futures-crypto-nasdaq-trading-proshares-vaneck-2021-10">Valkyrie's Bitcoin Strategy ETF</a> launched shortly afterward. Regulators remain resistant to ETFs tied directly to crypto assets.The funds marked a strong sign for the digital asset space, but costs associated with the futures market have put the creation of more bitcoin futures ETFs in question.Late Wednesday, <a href="https://www.wsj.com/articles/another-bitcoin-futures-etf-bites-the-dust-11636663692">Bitwise Asset Management withdrew its proposal</a> to roll out a bitcoin futures ETF, citing the fees and expenses related to the monthly rolling of futures contracts. And earlier, Invesco withdrew its application for a similar ETF.

The head of BlackRock's iShares says the world's largest asset manager isn't racing to launch a crypto ETF

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.flickr.com/photos/rahego/6479063181/">Flickr/Raúl Hernández González</a></div></div></div><ul><li>Nasdaq has teamed up with Reality Shares to launch an index tracking companies in the booming blockchain industry.</li><li>Blockchain, the technology underlying cryptocurrencies such as bitcoin and ethereum, has become a popular buzzword on Wall Street as the prices of digital coins and tokens continue to climb. </li></ul> Exchange operator Nasdaq has teamed up with Reality Shares, an investment marketplace, to launch an index to track companies in the red-hot blockchain industry. The smart-beta index called the Reality Shares Nasdaq Blockchain Economy Index, is planned to provide the basis for a ETF by Reality Shares, according to a press release on the news. The product has been filed with the <a href="https://www.sec.gov/Archives/edgar/data/1573496/000114420417055803/tv478375_485apos.htm">Securities and Exchange Commission</a>. Smart-beta products have been on the rise on Wall Street as investors seek out alternative investments that are more affordable than managed portfolios, but better-performing than passive index-tracking ETFs. "The smart-beta approach targets factors, rather than individual stocks," according to Cary Stier, the global investment management sector leader for Deloitte, the global consultancy and tax advisory firm."They're looking to profit off of momentum and volatility."Blockchain is best known for being the technology underlying cryptocurrencies like bitcoin, but it could have applications outside the market for digital coins.As a decentralized ledger, blockchain can facilitate exchanges of assets without the need of a middle-man. As such, it has gripped the attention of Wall Street with companies such as Goldman Sachs, JPMorgan, and Morgan Stanley all participating in at least one blockchain consortium. IBM <a href="https://www.ibm.com/blogs/cloud-computing/2017/08/blockchain-food-safety/">has partnered with a slew of businesses</a>, including Walmart and Maersk, to help track everything from food safety to mango shipments using blockchain technology. Instead of every single party - manufacturer, shipper, buyer, and any other intermediary - all relying on their individual paperwork to track a shipment from beginning to end, a blockchain would allow all stakeholders to see every step in an open, secure ledger."As these new applications are deployed, we believe these companies will most likely become disrupters in their industries, with potential to profit at the expense of laggard companies that do not deploy blockchain applications," said Eric Ervin, CEO of Reality Shares. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/interview-with-kristina-hooper-chief-investment-strategist-at-invesco-2017-11">We talked to the chief investment strategist at $920 billion fund giant Invesco about where you should invest right now</a></h3> <div> </div> </div>

There could soon be a new way to bet on the rise of blockchain

Debt MFs catch investor fancy as their returns go up to 23%

<ul><li><keyword id="2810876" type="General" weightage="20" keywordseo="ethereum" source="Orion">Ethereum</keyword> and <keyword id="6354947" type="General" weightage="20" keywordseo="bitcoin" source="Orion">Bitcoin</keyword>, two of the biggest cryptocurrencies in the market, are set to at least double their price before the end of the year, according to analysts.</li><li>The rally for Bitcoin is predicted to stem from more ETFs coming into the market, giving the cryptocurrency more legitimacy as an investment asset.</li><li><keyword id="6361649" type="General" weightage="20" keywordseo="goldman-sachs" source="Orion">Goldman Sachs</keyword> pegs Ethereum to hit $8,000, in-line with breakeven inflation.</li></ul>After hitting a new all-time high in October, analysts are betting on Ethereum and Bitcoin to double in value before the end of year. The analyst behind <keyword id="4058937" type="General" weightage="20" keywordseo="plan-b" source="Orion">Plan B</keyword>, who correctly predicted the price of Bitcoin in September and came very close in October, believes that Bitcoin will reach $98,000 this month itself and go on to breach $135,000 in December. <div type="twitter" handle="100trillionUSD" handlename="PlanB" image="http://pbs.twimg.com/profile_images/1407223894600302594/gBUVNH89_normal.jpg" favoritecount="41468" retweetcount="7407" status="Aug $47K✅Sep $43K✅Oct $61K new monthly close ATH!✅Ok ok, 3% rounding error .. close enough for meNext targets:… https://t.co/Oeg9tYomal" createdat="1635724960000" id="1454962054297788417"></div> This is in-line with other price predictions for Bitcoin that banking on the world’s oldest cryptocurrency. <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-will-double-to-100000-by-early-next-year-and-ether-could-hit-as-much-as-35000-in-the-long-run-standard-chartered-says/articleshow/86041760.cms">Standard Chartered</a>, for instance, pegs that Bitcoin will hit $100,000 in 2021 or early 2022. <div type="Article" hostid="261" msid="87259108" title="Bitcoin’s rally is far from over — these analysts are betting on the world’s largest cryptocurrency to more than double in value by the end of year" mstype="2" mssubtype="0"></div> Meanwhile, global investment bank, Goldman Sachs, estimates that Ethereum’s price is set to reach $8,000 by year-end — higher than what a recent panel of 50 cryptocurrency experts, put together by <a href="https://twitter.com/100trillionUSD/status/1454962054297788417?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1454962054297788417%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcryptopotato.com%2Fbitcoin-to-reach-98k-this-month-according-to-s2f-creator-planb%2F">Finder</a>, predicted at $5,000. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> <cmsannotation type="cmsannotation" annotationid="The push for Bitcoin to double in value" comment="subhead" text="The push for Bitcoin to double in value">The push for Bitcoin to double in value</cmsannotation> After the first ever Bitcoin-based exchange traded fund (ETF) hit the New York Stock Exchange (NYSE), the money from institutional investors has been flooding in. According to <a href="https://coinshares.com/research/digital-asset-fund-flows">CoinShare</a>’s weekly report, crypto investment products saw inflows of $288 million for the week ending on October 31 — Bitcoin accounted for 93% of it at $269 million. The cryptocurrency, which turned 13 years old on October 31, is up by 112% this year so far and hit the all-time high of $67,000 in October. Analysts expect the cryptocurrency to rise further with more ETFs coming in, giving a boost to Bitcoin’s legitimacy at least as an investment asset, not an actual medium of exchange. <div type="image" title="BTC_YTD_graph_coinmarketcap." msid="87489994" hostid="261" caption="&amp;lt;p&amp;gt;Bitcoin&amp;#39;s price year-to-date from January 1 to November 2&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Ethereum price to rise in-line with breakeven inflation" comment="subhead" text="Ethereum price to rise in-line with breakeven inflation"><keyword id="10625239" type="General" weightage="20" keywordseo="ethereum-price" source="Orion">Ethereum price</keyword> to rise in-line with breakeven inflation</cmsannotation> Goldman Sachs' prediction for Ethereum to breach $8,000 is based on the second-largest cryptocurrency’s historical correlation to inflation. According to the banking behemoth, cryptocurrencies have traded in-line with inflation breaks — the difference between the yield of a nominal bond and an inflation-linked bond of the same maturity — since 2019. “It has tracked inflation markets particularly closely, likely reflecting the pro-cyclical nature as a ‘network based’ asset. And the lastest spike in inflation breakevens suggests upside risk if the leading relationship of recent episodes was to hold (grey circles),” said the note. According to an analysis by blockchain data firm <a href="https://www.businessinsider.in/investment/news/ethereum-may-offer-the-best-returns-but-investors-have-been-pulling-away-over-the-last-two-weeks/articleshow/87137546.cms">Kaiko</a>, Ethereum has offered higher returns than Bitcoin with respect to market risk over the past one year. As compared to this time last year, the cryptocurrency’s price is up by 1,000% — leaving not just Bitcoin, but other major cryptocurrencies, in the dust. <div type="image" title="ETH_YTD_graph_coinmarketcap." msid="87490025" hostid="261" caption="&amp;lt;p&amp;gt;Ethereum&amp;#39;s token, Ether&amp;#39;s price year-to-date from January 1 to November 2&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Ethereum’s price rally" comment="subhead" text="Ethereum’s price rally">Ethereum’s price rally</cmsannotation> The rally in Ethereum has been aided by the growth of decentralised finance (DeFi), which is touted for its probable disruption of the international monetary system by eliminating the need for middlemen like banks, remittance providers and other players. Moreover, the boom in non-fungible tokens (NFTs) has all seen a host of new projects use ether and jump onto the Ethereum blockchain. Ethereum’s protocol is currently in the midst of an upgrade from the proof-of-work (PoW) to the proof-of-stake (PoS) consensus method, which is expected to reduce the energy consumed for mining — validating transactions — by 99%. <div type="Article" hostid="261" msid="85028472" title="Ethereum 2.0 will consume less energy — but it may also mean less profit for miners" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Challenges that lie ahead for Ethereum" comment="subhead" text="Challenges that lie ahead for Ethereum">Challenges that lie ahead for Ethereum</cmsannotation> Ethereum’s growth trajectory is not without its challenges. The time taken for the community to agree on the upgrade left opportunity for other blockchains to pop up — like Cardano, Solana, Polkadot and others — each claiming to solve either for high transaction fees, energy consumption or transaction times. Some of the participants in Finder’s panel of 50 cryptocurrency experts expect that their ‘Ethereum Killers’ could run up to win their fair share of the DeFi and NFT market from Ethereum. Bitcoin, however, is expected to continue its reign as the biggest player of the crypto world — at least for the time being. In view of the coming wave, banks and financial institutions in the US have been on a crypto hiring spree. Over the past three years, they have onboarded more than 1,000 crypto experts. Currently, financial institutions are offering significant bonuses to attract even more talent their way, according to <a href="https://www.bloomberg.com/news/articles/2021-11-01/wall-street-is-amassing-a-crypto-army-and-paying-up-for-recruits?sref=BWbpWjRm">Bloomberg</a>. Indian technology companies and crypto exchanges are also on the lookout for crypto talent. The demand for talent has jumped over the last 8-10 months with more than 12,000 job openings on the docket in October, according to a report by Bangalore-based staffing specialist Xpheno cited by the <a href="https://economictimes.indiatimes.com/tech/startups/a-war-of-wages-is-on-for-experts-in-crypto-tech-in-india/articleshow/86982097.cms">Economic Times</a>. Since the Supreme Court lifted the ban on cryptocurrencies in 2020, interest in blockchain technology has seeped back into the country, despite the Reserve Bank of India’s (RBI) attempts to dissuade investors. <a href="https://brokerchooser.com/education/crypto/crypto-countries">BrokerChooser</a>, an investment broker comparison company, pegs that there are currently 10.07 crore crypto owners in India — reportedly higher than everywhere else in the world. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/polkadot-hits-a-new-all-time-high-of-51-ahead-of-its-very-first-parachain-auctions-getting-approved/articleshow/87484392.cms">Polkadot hits a new all-time high of $51 ahead of its very first parachain auctions getting approved</a> <a href="https://www.businessinsider.in/cryptocurrency/news/after-amitabh-bachchan-and-rajinikanth-sunny-leone-becomes-the-first-indian-actress-to-venture-into-nft/articleshow/87480829.cms">After Amitabh Bachchan and Rajinikanth, Sunny Leone becomes the first Indian actress to venture into NFT</a> <a href="https://www.businessinsider.in/cryptocurrency/news/squid-game-cryptocurrency-trading-at-to-0-scammers-make-2-1-million/articleshow/87479063.cms">Squid Game cryptocurrency trading at $0, scammers make $2.1 million</a> <a href="https://www.businessinsider.in/cryptocurrency/news/facebooks-metaverse-announcement-is-giving-blockchain-games-a-boost/articleshow/87465794.cms">Facebook’s Metaverse announcement is giving blockchain games a boost</a>

Two of the biggest cryptocurrencies in the crypto market are set to double in value this year, according to analysts

<ul class="summary-list"><li>Major banks and financial institutions have invested heavily in <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> over the past year.</li><li>But regulators, including the Financial Stability Board this week, are still struggling with how to deal with it. </li></ul>Despite its huge volatility, crypto has no end of supporters, especially in the realm of traditional finance, where major banks and asset managers are constantly expanding their services to clients.Investment in crypto assets continued to boom in 2021, with inflows totalling $9.3 billion last year, up 36% from the $6.8 billion logged in 2020, <a href="https://coinshares.com/research/digital-asset-fund-flows">according to CoinShares</a>.And it's not just amateur or retail investors. More institutional investment is expected to come in 2022, with FTX CEO Sam Bankman-Fried anticipating significant institutional involvement in the crypto market in the coming year. "I've talked to every large bank, every large investment bank, pension funds — they're all eyeing the sector," he <a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-crypto-regulation-institutional-adoption-metaverse-cryptocurrency-outlook-2022-1">said</a> in early January.But not everyone is a crypto fan. Regulators in particular have been vocal about their reservations.The Financial Stability Board, the global banking watchdog, this week sounded the alarm on crypto assets in a report. It warned of the risks that could arise from the boom in adoption of crypto and called on national regulators to come up with ways to mitigate those risks, as the relationship between mainstream finance and crypto strengthens."Systemically important banks and other financial institutions are increasingly willing to undertake activities in, and gain exposures to, crypto assets," the FSB said. Central banks and regulators alike have expressed concern about the volatility of the likes of bitcoin and ether and the scope for market manipulation, as well as the systemic risk digital coins could pose. Yet many of the world's biggest investment banks offer an array of options for clients to get involved in cryptocurrencies and the broader digital world. JPMorgan this week became the first bank to enter the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword> by opening a lounge in a virtual version of Tokyo's high-end shopping district on the <a href="https://markets.businessinsider.com/news/currencies/jpmorgan-decentraland-onyx-lounge-metaverse-virtual-real-estate-crypto-dao-2022-2">Decentraland platform</a>. Major <keyword id="11895526" type="UNKNOWN" weightage="60" keywordseo="wall-street" source="Orion">Wall Street</keyword> names have thrown their weight behind crypto and a number are super-bullish, with some <a href="https://www.businessinsider.com/bitcoin-price-outlook-crypto-investing-analysis-goldman-sachs-jpmorgan-bofa-2022-1?r=US&amp;IR=T">expecting</a> bitcoin to reach $100,000 or more in coming years. Here's the most recent developmemts on Wall Street as investors and investment banks forge into the digital world:JPMorganIn July last year, <a href="https://www.businessinsider.com/jpmorgan-financial-advisors-crypto-bitcoin-products-retail-wealth-management-2021-7?r=US&amp;IR=T">JPMorgan</a> offered all its wealth management clients access to cryptocurrency funds, making it the first major US bank to provide crypto access to retail clients. While CEO Jamie Dimon isn't a crypto supporter personally, going so far as to <a href="https://markets.businessinsider.com/news/currencies/jamie-dimon-bitcoin-worthless-questions-21-million-supply-cap-2021-10">say</a> "I personally think that bitcoin is worthless," the bank has expanded its crypto offerings to satisfy what clients want. And Dimon says customers can make their own decisions.As far as the metaverse is concerned, JPMorgan published a white paper this past week in which it said opportunities were pretty much "limitless" and the digital world could help generate $1 trillion in annual revenue. Goldman Sachs The Wall Street bank has said recently that mainstream adoption of crypto won't necessarily translate into hefty gains for the likes of bitcoin.But there's no doubt it's a big believer in the opportunities that digital currencies and the virtual world could offer. It set up a cryptocurrency trading desk in 2021 to trade bitcoin futures, becoming the first big bank to offer such a service. "The crypto trading team will be a part of Global Currencies and Emerging <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">Markets</keyword> (GCEM)," the bank said.Goldman Sachs <a href="https://www.forbes.com/sites/billybambrough/2018/07/17/big-for-bitcoin-goldman-sachs-new-ceo-is-keen-on-crypto/?sh=7733def842d6">already offered</a> clients publicly-traded derivatives tied to bitcoin in 2018 and has been building out its crypto-related services ever since.The bank also allowed its wealth management clients to invest in crypto.Goldman Sachs strategists released a detailed research note recently in which they stated the metaverse — which is underpinned by crypto-technology and where users often need cryptocurrencies to buy virtual land or other goods — could be an <a href="https://www.businessinsider.com/metaverse-investing-goldman-sachs-web3-crypto-blockchain-analysis-outlook-strategy-2022-1?r=US&amp;IR=T">$8 trillion</a> investment opportunity. Morgan Stanley <a href="https://www.businessinsider.com/bitcoin-morgan-stanley-to-offer-wealthy-clients-btc-fund-access-2021-3?r=US&amp;IR=T">Morgan Stanley</a> has been an early adopter of crypto. 11 months ago, it became the first bank to give wealthy clients exposure to bitcoin funds by offering access to three bitcoin products. Clients had to have at least $2 million in invested assets with the bank.Chief executive James Gorman says crypto isn't a big part of the bank's business, but he <a href="https://markets.businessinsider.com/news/stocks/bitcoin-morgan-stanley-james-gorman-crypto-btc-3q-earnings-2021-10">believes</a> it isn't going to go away any time soon. "I don't think crypto is a fad," he said on a recent earnings call.Morgan Stanley's <a href="https://www.businessinsider.com/bitcoin-price-outlook-crypto-investing-analysis-goldman-sachs-jpmorgan-bofa-2022-1?r=US&amp;IR=T">total exposure</a> to bitcoin is around $300 million, according to CoinTelegraph. The bank also has a cryptocurrency research team."The launch of dedicated crypto research is in recognition of the growing significance of crypto currencies and other digital assets in global markets," Morgan Stanley <a href="https://www.bloomberg.com/news/articles/2021-09-13/morgan-stanley-taps-sheena-shah-to-lead-new-crypto-research-team">said</a> in a memo last year.Morgan Stanley analysts also <a href="https://markets.businessinsider.com/news/currencies/luxury-nfts-metaverse-56-billion-market-revenue-2030-morgan-stanley-2021-11">expect</a> the market for luxury-brand non-fungible tokens — a form of digital collector's item that resides on the blockchain — to grow to around $240 billion by 2030.Wells FargoWells Fargo believes we're only just getting started with crypto and that adoption is nearing a "hyper-inflection point". For anyone wondering if it's <a href="https://markets.businessinsider.com/news/currencies/crypto-investing-buy-bitcoin-adoption-hyper-inflection-point-wells-fargo-2022-2">too late</a> to jump on the crypto bandwagon, Wells Fargo answered that last week and says no, it's not. The bank <a href="https://www.businessinsider.com/crypto-investing-wells-fargo-to-add-fund-to-platform-bitcoin-2021-5?utm_medium=ingest&amp;utm_source=markets&amp;r=US&amp;IR=T">started</a> offering cryptocurrency exposure to its high-net-worth wealth and investment management clients last year."For those investors who qualify and have an interest, there's some good academic and <a href="https://www.insiderintelligence.com/insights/investing-and-wealth-management-providers/">money-management</a> work to suggest that it can be a nice diversifier to portfolio holdings," the bank said.BlackRock and FidelityBlackRock, the world's largest asset manager, filed with the SEC last month to <a href="https://markets.businessinsider.com/news/currencies/blackrock-blockchain-crypto-etf-ishares-tech-defi-sec-filing-fund-2022-1">launch</a> a blockchain and tech ETF. This would track crypto-focused companies worldwide. According to a recent report from <a href="https://www.coindesk.com/business/2022/02/09/blackrock-planning-to-offer-crypto-trading-sources-say/">CoinDesk</a>, BlackRock is about to offer some investor clients a cryptocurrency trading service. CoinDesk quoted one source as saying BlackRock will allow its clients, including big public pension funds, university endowments and sovereign wealth funds, the option to trade crypto through its Aladdin wealth management platform.Similarly, rival asset management company Fidelity launched its first bitcoin exchange-traded product in <a href="https://www.reuters.com/technology/fidelity-launches-its-first-bitcoin-exchange-traded-product-europe-2022-02-18/">Europe</a> this past week. The company filed in January with the Securities and Exchange Commission to launch <a href="https://markets.businessinsider.com/news/currencies/fidelity-launches-etfs-tacking-crypto-metaverse-sec-filings-2022-1">two ETFs</a> that track the metaverse and the cryptocurrency sectors through companies that are exposed to both.

Wall Street’s biggest names have gotten more involved in crypto over the past year but regulators still hate it. Here’s the latest developments in Big Finance’s push into the digital world.

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