Ethereum

$400 Billion Hedge Fund Neuberger Berman Approved for Access to Bitcoin and Ethereum

A $400 billion investment management firm, Neuberger Berman, recently announced adding exposure to Bitcoin and Ether derivatives and investment vehicles as part of the firm’s fund strategy.

Another hedge fund to join Crypto

The SEC file states that an asset manager will have exposure to cryptocurrency through a subsidiary company — with a minimum investment $5 million. The filing comes after the firm disclosed a “Hedge Cryptocurrency Volatility Fund” in an SEC Form D Filling, which, as per the filing, has made no sales as of July 29.

The Fund may seek to gain exposure to cryptocurrencies, including bitcoin and ether, indirectly through cryptocurrency derivative instruments, such as bitcoin futures and ether futures traded on futures exchanges registered with the Commodity Futures Trading Commission, or indirectly through investments in investment vehicles that invest in cryptocurrencies. The Fund plans to be exposed to cryptocurrency investments through its Subsidiary. –Read the report.

Neuberger Berman, the latest hedge fund to venture into the crypto space, has added exposure to digital assets to the fund. This joins the growing number of funds investing in cryptocurrency. As we reported, 98% of hedge fund CFOs expect that digital assets will become an alternative investment for the industry, and more firms could start adding crypto to their portfolios in the next couple of years.

The Bitcoin Experiment

The fund is primarily focused on commodities and has a wide portfolio of investments in derivatives relating to livestock, precious metals, and energy. Steve Eisman, the managing director of the firm, stated to Bloomberg in January that he did not understand cryptocurrency and wanted to avoid it.

However, it seems his view has changed, and it’s shown in the firm’s blog, in an article entitled “The Bitcoin Experiment. “

“From our perspective, as a fundamentals-driven asset manager, an investment in cryptocurrency should not be considered part of a standard asset allocation. We’d rather see it as an option that pays when inflationary expectations increase and makes the finite, non-human controlled supply dynamics in cryptocurrencies valuable.” –Read the blog.

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Ethereum

Ethereum Layer 2 Arbitrum One Surpasses 1 Billion Transactions

Arbitrum One, the Ethereum Layer 2 optimistic rollup, has surpassed 1 billion transactions this week. This feat was accomplished by Arbitrum One within three years of its mainnet launch in August 2021.

As of October 1st, Arbiscan recorded a total of 1.003 billion transactions.

In comparison, Coinbase’s Layer 2 network, Base, has logged 755 million transactions so far, while OP Mainnet trails with 347 million.

Notably, Arbitrum One also leads in total value locked (TVL) among Layer 2 solutions, currently sitting at $14.3 billion, with Base at $7.32 billion and OP Mainnet at $6.57 billion, according to the data compiled by L2Beat.

Earlier last month, stablecoin issuer Paxos announced its plans to launch its products on Arbitrum One. The main objective behind the partnership is to further institutional integration onto the Arbitrum network and bring real-world assets on-chain.

Via Arbitrum, the company intends will tap into Ethereum’s deep liquidity at higher speeds and low cost and engage Arbitrum’s active DeFi ecosystem.

While weighing on choosing Arbitrum One as the first Layer 2 chain to integrate with Paxos, Walter Hessert, the company’s Head of Strategy, commented,

“We are excited to partner with Arbitrum to bring more real-world assets on-chain. Arbitrum is known for its speed, security and scalability, which is critical to driving long-term adoption of digital assets across industries. In the next three years, the adoption of stablecoins by both retail and institutional users will explode and Paxos will drive that paradigm shift.”

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Ethereum

Sui Bridge Launches on Mainnet, Connecting Ethereum and Sui

The Sui Foundation has introduced the Sui Bridge on mainnet, enabling secure asset transfers between the Ethereum and Sui networks. This bridge focuses on simplifying the movement of assets across chains, starting with ether (ETH) and wrapped ether (WETH). Sui Rolls Out Bridge for Asset Transfers Between Ethereum and Sui According to the foundation’s blog [……
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Ethereum

Coinbase Sees Strong Q4 for Bitcoin, Fueled by US Rate Cuts, China Stimulus

Coinbase Institutional’s report highlights optimism for the crypto market, driven by expectations of U.S. rate cuts and China’s monetary stimulus, which could boost bitcoin’s performance in Q4 2024. While bitcoin remains strong, ethereum faces challenges with rising transaction fees and limited impact from U.S. spot exchange-traded funds (ETFs…
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