top of page

Bitcoin Stalls as Financial Services Giant Charles Schwab Plans to Launch a Crypto ETF

Updated: Apr 19, 2022

GB Market Commentary 03/03/2022

by Marcus Sotiriou


Bitcoin has stalled around $43-$44k whilst on-chain metrics suggests that the accumulation phase has begun. Accumulation phases precede bull markets, whilst distribution phases precede bear markets. Analysis from CryptoQuant shows how the market cap for 6 month old Bitcoin was 13% at the cycle top, whereas it is now 52%. A larger proportion of investors are becoming long-term holders is beneficial for price appreciation, as it is clear that more investors are seeking higher prices to sell.


Crypto adoption globally continues to soar and aligns with the thesis that we are in an accumulation phase. Ebay’s CEO hinted this week that they will soon integrate crypto payments, as they aim to capture GenZ and millennial audiences. This comes after the firm enabled NFT trading last year on its platform. Integrating crypto would be a great step for mainstream adoption, as eBay have around 160 million active buyers worldwide as of Q2 2021.


Furthermore, the multinational financial services giant Charles Schwab has filed with the SEC to launch a Crypto Economy ETF. This ETF will invest at least 80% of its net assets into the stocks listed on the Schwab Crypto Economy Index from companies that utilise Bitcoin and other digital assets. This move is in response to significant client demand – last week the Head of Investor Services said that 1 in 6 clients expressed interest in investing in crypto in the first half of the year. This is compelling as the company serves 33.3 million accounts and is one of the biggest banks in America.

תגובות


GB_CC_May_Digital Asset Trading_Whiteout
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • telegram logo

GlobalBlock EU ApS is a company incorporated and registered in accordance with the applicable laws of the Kingdom of Denmark as virtual asset service provider, with registration number (CVR-number) 45126382. GlobalBlock EU ApS is wholly owned by GlobalBlock Holdings., a company registered in England and Wales with registration number 15929099 . GlobalBlock EU ApS is not a licensed financial services provider and is not supervised as such by the Danish Financial Supervisory Authority. GlobalBlock EU ApS is supervised with respect to anti money laundering by the Danish Financial Supervisory Authority within the scope of the Danish Act on Prevention of Money Laundering and Terrorist Financing and other legislation stemming thereof.

.
GlobalBlock Europe, UAB is a company incorporated and registered in accordance with the applicable laws of the Republic of Lithuania as a virtual currency depository wallet operator and virtual currency exchange operator, with registration number 306045642. GlobalBlock Europe, UAB is wholly owned by GlobalBlock Holdings Ltd., a company registered in England and Wales with registration number 15929099,  GlobalBlock Europe, UAB is not a licensed financial services provider and is not supervised by the Bank of Lithuania. GlobalBlock Europe, UAB is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania and other legislation stemming thereof.
 
Investors should be aware that cryptocurrencies are volatile investment instruments that carry a high degree of risk to the capital investment. The information in this website is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments or participate in any specific investment (or other) strategy. The products and services outlined on this website may not be suitable for all types of investors. The value of an investment can go down as well as up, and you may not get back the amount you originally invested. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of GlobalBlock Europe, UAB based on the legal requirements in your country of residence. The information in this website is for information purposes only and is subject to change. No part of this website can be reproduced without written permission.


 Client fiat is held with GlobalBlock in accounts with BCB Limited,and does not meet the definition of Electronic Money (e-money). Client fiat and cryptocurrency are not “safeguarded” nor covered by any compensation scheme. Clients could potentially lose their cryptocurrency or fiat if something were to happen to GlobalBlock or, BCB.

Cryptoasset Notice

Cryptoasset services are provided by GlobalBlock Europe, UAB (“GlobalBlock”).   Cryptoassets are not regulated in any jurisdiction and the value of your assets can increase or decrease. You should note that your cryptoasset profits may be subject to Capital Gains Tax.

The service you obtain through the website or the app in the UK, contains cryptoasrvices not regulated by the Financial Conduct Authority. Please be aware that:

  • You will have no recourse to the Financial Ombudsman Service in the event of a complaint relating to cryptoasset services.

  • Your cryptoasset account is not protected by the Financial Services Compensation Scheme.

  • Cryptoassets may experience frequent price volatility resulting in a high degree of risk.

bottom of page