August 2023: A Watershed Moment for a Bitcoin ETF?

August 2023: A Watershed Moment for a Bitcoin ETF?

September 5, 2023

Expansion was at the forefront of Hex Trust's agenda during August as we embarked on another busy and productive month. In early August, we announced that we had obtained regulatory approval in France to provide digital asset custody services which paves the way for our continued growth in Europe. 

Shifting our focus to the biggest news of the month in crypto, Grayscale's triumph in their court case against the SEC sent bullish shockwaves throughout the industry (even if positive price action following the news was short-lived). This ‘victory’ has reignited hopes for the long-awaited approval of a Bitcoin exchange-traded fund (ETF) in the United States. A Bitcoin ETF has the potential to revolutionize the landscape, opening doors for broader adoption and offering a regulated and accessible investment vehicle for mainstream investors.

Regulatory Approval in France: Expanding in Europe

On August 3rd, we announced we received regulatory approval in France to provide digital asset custody services. Hex Trust obtained the Digital Asset Service Provider (DASP) registration granted by Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France.

Receiving the DASP registration fully enables Hex Trust to provide the following services, such as digital asset custody, the purchase/sale of digital assets for legal tender, and the trading of digital assets against other digital assets. 

The DASP approval is a significant milestone as we expand in Europe and grow our presence to become one of the continent’s leading licensed digital asset custodians. The DASP registration is also a key step towards being licensed in France and soon in the European Union (EU) under the Markets in Crypto-Assets Regulation (MiCA).

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Exploring Institutional Demand, Infrastructure, and Market Trends

Gabriele Bandi, VP of Sales & Business Development, represented Hex Trust at OKX Ventures’ recent event in Hong Kong. Sharing the stage with distinguished panelists from OKX and MaiCapital, Gabriele shared his expertise on the dynamics of the institutional market and emerging trends within the ever-evolving crypto space. 

ETFs and the Crypto Revolution

Calvin Shen (Managing Director, Head of Sales & Business Development at Hex Trust) shared insights via a thought leadership article published on Cointelegraph. The article explored the potential impact of ETFs on Bitcoin and cryptocurrencies, emphasizing the benefits of these investment vehicles in driving market maturity and innovation. Calvin emphasized the crucial role of custody solutions in facilitating the growth of ETFs and shed light on the transformative power of the impending crypto ETF revolution and the global trend towards clearer regulatory frameworks. 

Read the full article

Hex Trust Makes a Move for Good: Chess and Community 

As part of our corporate social responsibility (CSR) initiatives, in collaboration with the Muscular Dystrophy Association Singapore (MDAS), we organized a chess engagement event. The event aimed to promote strategic thinking and intellectual stimulation among MDAS members while aligning with our core values of community support. Through our efforts to showcase the interplay of both chess and cryptography, we aim to foster a meaningful and far-reaching impact that extends beyond the financial sector.

Read the full story

Strategic Partnership with Qraft: AI and Digital Asset Management

Qraft Technologies, a leading invest-tech company specializing in artificial intelligence investing solutions, has formally entered into a strategic partnership with Hex Trust. With the signing of the Memorandum of Understanding (“MoU”), Qraft will develop digital asset products based on its AI-driven asset allocation models for Hex Trust.

"We are excited about this joint-effort with Qraft," stated Alessio Quaglini, CEO & Co-founder of Hex Trust. "Their AI-powered risk models complement our vision of providing efficient access to decentralized markets. By combining forces, we aim to offer a new paradigm of investment opportunities to institutional investors, promoting a more inclusive and sustainable financial ecosystem."

Learn more about our partnership 

How to Build Securely in the Metaverse

Getting the community involved, we hosted a Twitter/X Spaces focusing on the topic of securely building in the metaverse. The panelists, including representatives from Hex Trust, The Sandbox, PwC, Code Green, and Bharat Box, shared their expertise on topics such as security infrastructure, inclusivity, partnerships, regulatory considerations, and empowering creators and users in the metaverse. 

Listen to the full session here or read the blog summary recap here.

Citi’s 11th annual Asia-Pacific Securities Leadership Forum

Alessio Quaglini (Co-Founder and CEO of Hex Trust) was invited by Citi to participate in the 11th annual Asia-Pacific Securities Leadership Forum in Singapore. The event focused on 'Innovation and Agile Technology in Action' and brought together industry leaders to discuss the evolution of the financial industry and its wider ecosystem. Alessio joined esteemed panelists, including Chirdeep Singh C. from Citi and Rahul Banerjee from BondbloX, with David Skuse serving as the moderator.

Inside Hex Trust: Unveiling the Internship Experience

Lastly, with Hex Trust's summer internship program having come to an end, we released the “Intern Diaries”, a series providing a glimpse into the company's inclusive work culture. The first episode featured a game of 'Most Likely To,' uncovering quirky traits from the interns and their managers. The second episode brought laughter through a ‘Gen Z vs. Millennials Slang Challenge’ bridging the generation gap. And the third, showcasing an engaging ‘This of That’ game. It was a pleasure to have the interns with us over the summer, we will miss you all and hope to see you back in the near future!

What’s to come…Token2049 Singapore

Hex Trust will be attending TOKEN2049 in Singapore next week. The Hex Trust team including Alessio Quaglini (CEO & Co-founder), Calvin Shen (MD and Head of Sales & Business Development), Gabriele Bandi (VP - Sales & Business Development), and Sam Ameen (Head of Marketing), will be in Singapore throughout the week. We look forward to engaging with you to discuss digital asset custody, staking, trading, DeFi, and exploring potential collaborations. To schedule a meeting with Hex Trust during the event, please reach out at enquiries@hextrust.com

Join Hex Trust & zkSync for an Exclusive Pre-Token2049 Event: VIP Rooftop Happy Hour

Hex Trust and zkSync are hosting an exclusive side event on September 12, just before the Token2049 conference. The "VIP Rooftop Token2049 Happy Hour" offers a memorable experience with custom cocktails, delicious cuisine, and stunning views. Limited spots are available, so apply to join via the event page to secure your attendance. 

Apply to join here

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