HKMA Ready to Expand Cross-Border Digital Yuan Test After Successful Pilot

HKMA Ready to Expand Cross-Border Digital Yuan Test After Successful Pilot

The Hong Kong Monetary Authority (HKMA) and the Digital Currency Institute of the People’s Bank of China (PBOC), are looking to expand the testing of China’s central bank digital currency (CBDC) for cross-border payments. 

Hong Kong and China Preparing for More Digital Yuan Trials

According to Bloomberg on Thursday (May 13, 2021), the HKMA decided to moe forward with the digital yuan test, after the initial pilot phase was successful. The first phase of the eCNY trial involved selected merchants and a bank chosen by mainland Chinese authorities.

Back in December 2020, the HKMA and the PBOC announced that they were planning to test the digital yuan for cross-border settlements. With the success of the first cross-border trial, the HKMA is ready to enter the next phase of pilots, stating:

We have tested the use of the related app, system connectivity and certain use cases such as cross-boundary purchases. We are discussing and collaborating with the PBOC on the next phase of technical testing, including the feasibility of broadening and deepening the use of e-CNY for cross-boundary payments.”

A recent report by leading consulting firm Oliver Wyman, stated that the use of China’s digital yuan could make cross-border settlements faster and cheaper. According to the report, cross-border payments in Hong Kong cost between $20 billion – $40 billion annually, which is equal to almost 11 percent of the city’s 2020 gross domestic product (GDP).

An excerpt from the report reads:

The introduction of eCNY has the potential to elevate RMB to a new height. And with a nationwide roll-out now under a year away, financial players need to consider the impact now. With the potential for the new currency to move into cross-border transaction, supported by liberalization policy, RMB could become a true global trade that will bring savings and efficiency.”

China’s CBDC project continues to move at an accelerated pace, with different cities conducting multiple digital yuan trials via red packet airdrop events. Chinese financial institutions have also contributed to eCNY trials, by developing hardware wallets and mobile applications.

Meanwhile, China is aiming to expand the scope of its CBDC testing to foreigners. As reported by BTCManager back in April, the PBOC said that it was working towards testing its digital yuan with international visitors at the upcoming 2022 Beijing Olympics.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

DEX Aggregator 1inch Network (1INCH) Expands to Polygon (MATIC)

DEX Aggregator 1inch Network (1INCH) Expands to Polygon (MATIC)

Leading DeFi DEX aggregator 1inch Network (1INCH) has expanded to Ethereum layer-2 scaling solution Polygon (MATIC).

1inch Protocol Expands to Polygon

In an announcement made today, DeFi DEX aggregator 1inch Aggregation Protocol announced its expansion to the Polygon network. Specifically, the expansion provides 1inch users with several liquidity sources on Polygon such as Curve, Sushiswap, Quickswap, Aave V2, and Cometh. There are plans to add more protocols to source liquidity from, the announcement reads.

For the uninitiated, Polygon – formerly known as Matic Network – is a leading Ethereum scaling and infrastructure development platform that has played a significant role in aiding the Ethereum network keep up with the competition while it continues to switch to the Proof-of-Stake (PoS) consensus algorithm.

Polygon is committed to realize Ethereum’s full potential by being a powerful multi-chain system. Currently, Polygon offers a transaction speed of over 7,000tps which eclipses that of the Ethereum network by orders of magnitude. Further, Polygon also does this at a fraction of cost of Ethereum.

Commenting on the development, Sergej Kunz, co-founder of 1inch Network, noted:

“After the 1inch Network has expanded to Binance Smart Chain, there was a massive request from the community to make Polygon also available for swapping via 1inch. Currently, the 1inch Aggregation Protocol is already deployed on Polygon, while the 1inch Liquidity Protocol and the 1inch Governance Protocol are expected to expand over to Polygon in the upcoming few weeks.”

Users interested in using the 1inch Network on Polygon can transfer their digital assets between Ethereum and Polygon blockchains via the special cross-chain bridge run by the Polygon network. In addition, the network also has a dedicated wallet where users can securely store their crypto assets on the layer-2 scaling solution.

Polygon Adoption Continues to Grow

Since their rebranding earlier this year from Matic Network to Polygon, the layer-2 Ethereum scaling solution has been on a spree of integrations and partnerships.

As reported by BTCManager on April 1, major DeFi lending and borrowing protocol Aave (AAVE) had integrated Polygon to enable fast, secure, and economically feasible transactions for its users.

On a recent note, BTCManager reported how mStable DeFi protocol went live on Polygon.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

FNTX, 355 Developments Now Accepting Dogecoin (DOGE) for Property Purchases

FNTX, 355 Developments Now Accepting Dogecoin (DOGE) for Property Purchases

FNTX Capital Suisse and 355 Developments have joined forces to make it possible for hodlers of bitcoin (BTC), dogecoin (DOGE), and other cryptocurrencies to pay with crypto when they purchase luxury apartments in Portugal.

Dogecoin for Real Estate

In another exciting development for hodlers of popular meme crypto dogecoin (DOGE), Portuguese real estate firm, 355 Developments, is now accepting the digital currency as a payment option for its apartments, thanks to a partnership deal with FNTX, a Switzerland-based fintech company.

In addition to accepting Elon Musk’s dogecoin, the initiative will also support established cryptocurrencies like bitcoin (BTC), cardano (ADA), and ether (ETH), with the team making it clear that anyone interested in purchasing 355 Developments’ luxury apartments can do so directly from the FNTX Real Estate Exchange platform.

To kickstart the “crypto for real estate” initiative, the team has listed three luxury apartments for sale on the FNTX platform, including a two-bedroom apartment in Lisbon’s business hub (priced at 14.112 BTC), and a luxury duplex penthouse in the city centre (45.098 BTC or 5.6 million DOGE).

Crypto Payments Gaining Global Recognition 

Incorporated in August 2020, FNTX claims to leverage its years of experience in banking and payments, regulation & compliance, and the digital assets industry to offer its clients fully compliant cryptocurrency products and services.

Notably, the firm hopes its existing products will combine excellently well with the 355 Developments’ real estate offerings to streamline the industry and provide developers and investors with more investment options.

Commenting on the development, David Rabbi, Co-Founder of FNTX said:

“What ultimately takes place now will say a lot about the future of both the property business, the world’s largest asset class, and the blockchain ecosystem.”

Indeed, bitcoin and altcoins are increasingly gaining grounds in the real world as legit payment options, as hundreds of businesses around the globe now accept one cryptocurrency or the other and the trend will definitely continue way into the future.

As reported by BTCManager earlier in April 2021, United States-based real estate heavyweight, Caruso Properties integrated bitcoin (BTC) into its operations as a legitimate payment option for occupants of its properties, while also investing a portion of its balance sheet in the digital currency.

At press time, the bitcoin price is down by 11.52 percent in the past 24-hours, trading at $49,683, with a market cap of $929.17 billion, as seen on CoinMarketCap.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Huobi Ventures Dedicates $100 Million to DeFi, Acquisitions

Huobi Ventures Dedicates $100 Million to DeFi, Acquisitions

Huobi Group’s new consolidated arm is ready to pour money into DeFi.

Huobi Group Bullish on DeFi

According to a Coindesk report published today, Huobi Group is set to commit $100 million into decentralized finance (DeFi) projects and mergers and acquisitions via its newly established consolidated investment arm.

For the uninitiated, Huobi Ventures is Huobi Group’s investment arm geared toward boosting the company’s investment portfolio and providing long-term support for robust blockchain projects.

The $100 million fund is the latest effort by Huobi aimed toward developing the DeFi ecosystem. Similarly, in April, layer-2 Ethereum scaling solution Polygon launched a $100 million fund to aid DeFi adoption. Similarly, crypto asset management company BlockTower Capital raised a $25 million fund in March this year.

The newly unveiled fund will not only be used to support early-stage blockchain startups over a three-year period but also be tapped to make strategic acquisitions to grow the firm’s product offerings. The statement shared with Coindesk reads in part:

“Acquisitions will be integrated into Huobi’s growing suite of blockchain-enabled applications and services to expand the business into new markets. The venture capital unit will make long-term investments in emerging blockchain use cases and DeFi projects,” the statement said.”

In addition to the $100 DeFi-focused fund, Huobi Group is also setting up a $10 million NFT fund geared toward investing in NFT collectibles and marketplaces, the company noted.

Consolidating the Different Investment Vehicles

Huobi Ventures is also said to be consolidating several of the company’s different investment vehicles such as Huobi Eco Fund, Huobi Capital, and Huobi DeFi Labs into one, single entity.

“We have had separate teams focus on different investment strategies, but by bringing everyone together under a single entity, we can create a more cohesive strategy and continue to invest in and support the most innovative projects that are shaping the blockchain and DeFi spaces,” said Lily Zhang, Huobi Group CFO.

In similar news, BTCManager reported in April that Huobi Asset Management had announced the launch of its bitcoin and ether private equity fund in addition to another fund that actively invests in a basket of digital assets.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4 and Arsenal FC Launch Augmented Reality Matchday Programme for Fans and Influencers and Arsenal FC Launch Augmented Reality Matchday Programme for Fans and Influencers

May 13th, 2021, Tallinn, Estonia — The new augmented reality matchday programme uses the latest AR technology to let fans bring the players into their living room. The creative concept aims to leverage’s matchday rights with the Gunners digitally, recreating the magic of matchday at home. 

Augmented Reality Matchday Programme

The activity brings to life all the components of a traditional matchday programme with an innovative twist and includes Captain’s Notes from a virtual Pierre-Emerick Aubameyang alongside player profiles, quickfire interviews, footage from the training ground and an interactive AR squad selector that lets fans pick their team for the match ahead.

With the majority of matches from the 2020/21 season being carried out behind closed doors due to covid-19, the AR programme allows fans to enjoy one of the key elements of their usual matchday routine from the safety of their own home, and keeps them connected to both the players and the club.

Redefining The Fan Experience are using their partnerships in football to redefine the fan experience by combining cutting-edge technology with their cryptocurrency expertise, delivering exclusive experiences that reward Arsenal’s large global fanbase and customers. The initiative is a demonstration of’s constant drive to innovate and the sportsbook believe that the role of cryptocurrency in sport is only going to increase.

The programme will be hosted on a private app and activated via influencers for the remainder of the 20202/21 season. The first two influencer activations went live in April, with world champion freestyler Sean Garnier and Entrepreneur come Gooner, Leo Dasilva.

Arsenal Football Club’s Commercial Director, Peter Silverstone, commented: 

“We are always looking for new ways to connect and engage with our global fanbase and give them an incredible experience, whether that’s inside Emirates Stadium or in their own home. shares this attitude and approach and it has been fantastic to work together to deliver this new and innovative service to our supporters. Everyone at the club is extremely excited to welcome all our supporters back to Emirates Stadium imminently, but until then this programme is an exciting and innovative way of bringing fans closer to the players, and the action, than ever before.”

Virtual Reality Matchday

This is the second virtual matchday initiative developed by’s creative and PR agency Fuse for their Premier League club partnerships, alongside the virtual reality stadium tours delivered with Southampton FC. The initiative was developed by Fuse in response to the Covid-19 pandemic, working as a digital solution to activating matchday rights in a behind-closed-doors environment. 

Tim Heath, Founder of the Coingaming Group, said: 

“Across all of our Premier League partnerships this season, we have strived to use the latest in tech and innovation to try and bring a little bit of that magic of matchday to the fans at home. We are lucky to have two incredible partners in Arsenal and Southampton, who have got fully behind this mission and helped us deliver some amazing work. We are thrilled to be launching this new AR programme with Arsenal, and can’t wait to make the partnership even bigger and better next year.”

Production of both the 360 virtual reality content and augmented reality content was delivered by award winning VR & AR agency East City Films.


Founded in 2016 as part of the Coingaming Group, is the leading Bitcoin sportsbook. has redefined the online betting space by combining cutting-edge technology, with cryptocurrency expertise and a passion for offering its players with the ultimate fun, fast and fair gaming experience. 

Principal sponsors of English Premier League team, Southampton FC and Official Betting Partner of Arsenal Football Club, provides an expansive range of betting action across all major sports and eSports, offering players more than 350,000 pre-match events per year and comprehensive in-play content. 

As the first crypto sportsbook to introduce streaming across all major sports, as well as a cash out function, is recognised as a leader in both online sports betting and within the crypto community. prides itself on its secure and trustworthy betting service, with withdrawal times of around 1.5 minutes among the fastest in the industry. For more information about, please visit

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Vitalik Buterin Donates Over $1 Billion worth of SHIB to India Covid Relief Fund

Vitalik Buterin Donates Over $1 Billion worth of SHIB to India Covid Relief Fund 

Vitalik Buterin, the Russian-Canadian founder of Ethereum and vocal proponent of a wealth tax,  donated Ethereum and “meme coins” worth over $1billion to India’s Crypto Covid Relief Fund and a range of other charities. He contributed on Wednesday by offloading massive amounts of dog-themed meme tokens.

Is Buterin Shipping Out SHIB

Buterin contributed 50 trillion SHIB tokens worth $1.2 billion in a single transaction as of May 12 to the India Covid Relief Fund formed by Indian entrepreneur Sandeep Nailwal. Nailwal is popularly known as the co-founder and COO of Polygon, a protocol that aggregates scalable solutions on Ethereum in a multi-chain system.

After the donation, Nailwal took to Twitter to thank Buterin. He assured SHIB investors the funds would be used responsibly.  He added that they would not engage in activities that hurt any community, especially the retail community involved with SHIB.

Marked Donations

A few weeks ago, Buterin donated almost $600,000 in ether and maker (MKR) tokens to the fund. 

Other significant donations worth millions of dollars include gifts to Methuselah Foundation, which focuses on extending the human lifespan, GiveWell, a non-profit charity evaluator,  and Machine Intelligence Research Institute, targeting the development of safe artificial intelligence (A.I.) technologies.

Back in April, anonymous developers of SHIB announced they had gifted half all SHIB in circulation to Vitalik.  They did this to legitimize the token and protect the circulation. However, most people suspected that this was likely a publicity stunt. The tokens were gifted to Buterin on the account that he would not sell them.

Rugging The Dogs

If you’re the developer of SHIB, you would possibly hope you could sell most of your holdings while the price was high, basically, a pump and dump. You could also expect Vitalik would choose not to sell out his goodness or respect for your currency’s future. That’s not what happened.

The dog-themed race up the cryptocurrency charts came to an unexpected end on May 12. Buterin’s actions have significantly affected the prices of the tokens. Coinbase established that Shiba Inu tumbled by 36%, Dogelon Mars is down 65%, and Akita Inu is down more than 50% in just a couple of hours as of press time.

This development will make donations received by the charities to be much less than the intended amounts.

Buterin still holds over $1 billion in ether. However, he had transferred virtually all of his holdings to another address right before making the donations in one of the biggest-ever individual philanthropy efforts.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Bitcoin and Ether Market Update May 13, 2021

Bitcoin and Ether Market Update May 13, 2021

Total crypto market cap erased $268 billion from its value for the period since Monday and now stands at $2.21 trillion. The top ten coins are all in red for the last 24 hours with Dogecoin (DOGE) and Litecoin (LTC) losing 18.5 and 17 percent of their respective values for the period. At the time of writing bitcoin (BTC) is trading at $49,330, ether (ETH) is hovering around $3,730.


Bitcoin closed the trading day on Sunday, May 9 at $58,242 after hovering around the 50-day EMA on the daily chart throughout the week. The biggest cryptocurrency managed to regain positions above the important $56,000 level but was still struggling to surpass the important multi-timeframe resistance at $59,000.  It was 2.8 percent up on a seven-day basis.

The most important thing about last week’s action was that BTC was able to confirm the bullish engulfment on the weekly chart thus keeping the uptrend intact.

On Monday, the BTC/USDT pair was once again rejected at the mentioned resistance, which triggered a selloff. The pair was trading in the wide $59,500 – $53,300 range during intraday before closing at $56,000.

The second day of the workweek was relatively calm as neither buyers nor bulls were able to push the price in any direction. Bitcoin formed a short green candle to $56,600, once again climbing above the 21-day EMA.

The mid-week session was when bulls finally capitulated cracking under the sell pressure. BTC lost 12.4 percent of its value and fell below the $50k mark for the first time since April 25, eventually closing at $49,500.

It is worth noting that on the daily timeframe, the BTC/USDT pair was in a clear Diamond Pattern formation, which usually marks the beginning of a deeper correction. Tesla’s CEO Elon Musk put additional pressure on the market announcing that the company will stop using BTC as a payment method over concerns about the impact of the mining process on the environment.

The coin is trading flat midday on Thursday recovering from yet another 7 percent dump to $46,000 earlier in the session.


The Ethereum project token ETH was moving steadily in a solid uptrend, uncorrelated to the recent technical and fundamental issues faced by Bitcoin. Even the sky-high Ethereum network transaction fees could not push users away from using the leading DeFi platforms.

To prove the above statement, ether closed the session on Sunday, May 9 flat at $3,922 after adding 33.4 percent to its valuation on a weekly basis.

ETH registered a new all-time high on Monday hitting $4,195 in the early hours of trading but made a full retrace later in the session, remaining in the same price range as the last two days.

On Tuesday, it made yet another 5.3 percent jump, but this time was able to keep the gains and ended the day at $4,180.

The ETH/USDT pair initiated a pullback during the mid-week session on Wednesday as the entire cryptocurrency market was experiencing a double-digit price correction. The leading altcoin was no exception erasing 9 percent and moving down to the previous uptrend resistance line.

It is hovering around $3,800 midday on Thursday, unchanged from the daily candle close.


Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Ethereum Layer-2 Scaling Solution Arbitrum Inches Closer to Launch

Ethereum Layer-2 Scaling Solution Arbitrum Inches Closer to Launch 

Offchain Labs has announced that its Ethereum Layer 2 scaling solution, Arbitrum now comes with a transaction sequencer. The team says the Arbitrum Sequencer testnet will go live on May 14, while the Arbitrum mainnet will be opened to developers on May 28, 2021.

Arbitrum Solving Ethereum’s Scalability Issues 

As Ethereum gas fees continue to reach new all-time highs, developers are working round the clock to finally launch scaling solutions that will help alleviate the sufferings of users of the world’s number one smart contracts distributed ledger. 

In the latest development, Offchain Labs, the team in charge of Ethereum Layer-2 scaling solution, Arbitrum, has reached a significant milestone in the development of the project with the imminent launch of Arbitrum Sequencer. 

As stated in its blog post, when Offchain Labs announced the Arbitrum release candidate testnet earlier in March, the system did not come with Sequencer support, as it planned to integrate a sequencer via a later upgrade. However, based on feedback received from beta testers of the solution, the team has decided to add Sequencer support ahead of Arbitrum’s official launch.

Superfast and cost-efficient  Transactions 

Importantly, the team has made it clear that the Arbitrum Sequencer allows for instant off-chain transactions. However, users will still have the choice to post their transactions on-chain or via the Sequencer. The team says it plans to roll out the Sequencer testnet on May 14.

Notably, Offchain Labs has hinted that its primary objective is to make Arbitrum available to everyone interested in it, and as such, it’s doing everything within its powers to ensure the project has an active and vibrant ecosystem.

Against that backdrop, the team plans to first make Arbitrum available to developers, to enable them to build infrastructure and carry out thorough testing before end-users get onboard.

The team wrote:

“We’ll be giving access to any project that wants it, and will open up to end-users shortly after, once  a quorum of projects are up and running. We’ll work with the projects to make sure they’re ready, but we don’t expect it to be long.”

With several other Ethereum scaling solutions, including Optimism in the pipeline, it’s only a matter of time before the Ethereum network congestion and crazy gas fees problem become a thing of the past.

At press time, the price of ether (ETH) sits at $3,847, with a market cap of $446.08 billion, as seen on CoinMarketCap.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

A Swiss Blockchain-Based Analytical Platform for the Cryptocurrency Market: Meet Dohrnii

The Development of Trading Tech Over the Years

If you think back to how the cradle of trading Wall Street was operating on the 80s – with DOS-based computers with green numbers and black screens and phones being the pinnacles of technology at the time – it is mindblowing what tools are available today even to those who do not trade professionally. Globalization has shaken the trading industry at its core – since the 1970s, computational algorithms and simulations such as the Monte Carlo method have been evolving, with the new century marking a drastic revolution in their capabilities and application scopes.

New and Emerging Investing Trends

In 1971, the first electronic stock market was launched by NASDAQ. It was a revolutionary concept that was regarded as a major step towards the future of the investing sector. Shortly after in 1980, online trading followed, allowing brokers to communicate with their clients digitally and to facilitate buy and sell orders directly. Then, the internet emerged, allowing everyone to conduct thorough research on companies and new investing opportunities easily accessible at their fingertips.

Parallel to these advancements, trading technology focused on the analysis of the markets was rapidly evolving. Algorithmic trading, which uses programmatic rules to analyze the markets, ultimately giving traders the power to execute orders exponentially quicker and with less bias than human operators are able to, bridged the gap between informational technology and investing, forming a never ending duo (Source: Stacker). More recently, companies like Wealthfront and Betterment introduced the first robo advisors, which allowed for a humanless financial planning and investing and laid out the foundations for a computer-driven future of the trading sector. AI, blockchain and cryptocurrencies followed, bringing us to where we stand today.

However, as a novel sector, the cryptocurrency market is still trailing behind in terms of analytical technology that is available to the traders. The analysis tools used traditionally in trading are rarely applicable to crypto due to the fundamental differences to the stock market and the inherent volatility of the industry. Many old school traders believe it is impossible to come up with reliable models that can be applied for cryptocurrency trading.  Surprisingly, recent research states otherwise – the truth is that data is the fundament that can enable the creation of statistically reliable models – even in cryptocurrency trading. That is, if you had a close to unlimited capabilities of gathering and analyzing a variety of market data. While you might think this is unlikely, technology has come a long way – particularly in the areas of Artificial Intelligence and its application to trading. Big companies such as BlackRock and their portfolio management software Aladdin have long started to stretch the boundaries of the potential technology can bring within the trading ecosystem. Such software is developed over a prolonged period of time by a large team of experts and is perfected continuously to become reliable. As such, the access to such software is greatly limited to the average investor, presenting the trading scene with asymmetries and one-sided power in favor of the wealthiest.

Dohrnii Takes the Initiative

The Dohrnii ecosystem combines a digital crypto academy, an analytical trading platform and a trading module, forming a comprehensive trading environment for crypto traders who wish to get into cryptocurrency trading or to bring their skillset to a new level. Each trader is delivered a personalized experience along their journey – from the starting onboarding process, the skill of traders is evaluated and a custom educational program is compiled for their profile. As they progress and start trading, their preferences and performance are also analyzed, allowing for Dohrnii to design personalized investment advice such as portfolio adjustments and deliver them to the traders through the robo advisor. What is more, the traders have access to a wide variety of tools that are unique to the cryptocurrency trading scene – from advanced market analysis to trading signals and price predictions, Dohrnii introduces features that were once reserved to the biggest investors on the stock markets to the average crypto trader.

The technology that is turning the wheels of the Dohrnii ecosystem is where the magic happens. By using the latest advancements in Artificial Intelligence and blockchain, Dohrnii is making tools that used to be available only to the biggest investment companies and hedge funds accessible to the average trader, thereby democratizing fintech technology and bringing the market into a natural equilibrium. This equilibrium is of utmost importance, as it will dissolve the current situation of a partial monopoly caused by the discrepancies in the access to advanced trading technology, which translates in much better advantage for several key players.

The Dohrnii Foundation is a non-profit organization based in Zug, Switzerland. It was founded in 2020 by a team of professionals with longstanding experience in multiple areas, all of whom with one common goal – to transform the world of cryptocurrency trading from a black box to an understandable discipline everyone has the ability to comprehend. The experts behind the Dohrnii Foundation have a diversified skill set, ranging from finance, trading, fintech, technology and blockchain, forming the fundamental backbone required for the creation of the Dohrnii ecosystem.

If you are interested in learning more about the Dohrnii project, the tools the ecosystem is offering to the traders and the innovative technology behind it, visit

Iconic Funds Lists Physically-backed Bitcoin ETP on Deutsche Boerse Xetra

Iconic Funds Lists Physically-backed Bitcoin ETP on Deutsche Boerse Xetra

German investment firm Iconic Funds is listing a physical Bitcoin ETP on the Deutsche Boerse Xetra exchange. The digital asset exchange product is expected to expose bitcoin to institutional clients. 

Bitcoin ETP will Expose Institutional Clients to Bitcoin

This development was revealed by Iconic Funds today, May 12, in a press release with additional details explained by the investment firm. The Iconic Bitcoin ETP will be issued with the Ticker XBTI and available for trading on the Deutsche Boerse Xetra exchange. 

According to Iconic Funds, the BTC ETP will be a cost-effective way for investors to gain exposure to Bitcoin in the German market. The ETP is structured like a traditional ETP and removes the technical complications of investing and holding Bitcoin for investors.  Furthermore, each ETP is fully collateralized and represents the specified amount of Bitcoin held by the investment firm. Iconic Fund also revealed that it is exploring a number of international listings of the ETP.

“We are elated to see our Bitcoin ETP listed on Germany’s flagship market and look forward to working with our partners and regulators to bring more products forward for crypto-hungry investors,” stated Patrick Lowry, CEO of Patrick Lowry, CEO of Iconic Funds and publicly traded Cryptology Asset Group.

Similar sentiments were echoed by Michael Geister, Head of Crypto ETPs.

“Our Crypto ETPs are designed to meet the highest standards in terms of security, trust, and cost-efficiency. We have teamed up with the most reputable partners to ensure the most robust structure and maximum level of transparency,” he stated. 

Iconic Funds is one of the firms that has been at the forefront of crypto-asset adoption in Europe, investing in the crypto space since 2017. They are also one of the first investment firms to issue a fully licensed crypto-asset index fund.  

Bitcoin ETPs Springing up Globally 

Bitcoin ETPs has continued to increase in popularity as an easy way for institutions and top investors to access crypto assets. Institutional investors have long been wary of purchasing crypto assets due to their regulatory status, and Crypto ETPs appear to be the way forward. 

In recent months, countries like Canada and Brazil have approved Bitcoin ETPs, with Canada leading the way with three BTC ETPs and Brazil greenlighting Latin America’s first Bitcoin ETF.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4