Prompt: Ethereum and Bitcoin

I just completed reading three articles from crypto.news and I want to share three insights that I gleaned:

Global ETF

According to this article, global ETF assets are expected to grow from 13 trillion USD to 35 trillion USD by the year 2035. That's more than 100% growth. This forecast comes from Binance's Senior ETF analyst Eric Balchunas.

The article also mentions that after Bitcoin and Ethereum, Solana will be the next to run in the ETF race. Who will follow Solana afterward?

One of the feared competitors of the crypto ETF market is RWA. This is a growing issue in the crypto space. It's getting attention at the moment. However, according to Micah Zimmerman, there is nothing to fear because the RWA will not cause the ETF market to be disrupted in the future.

Is it possible for the crypto ETF to enter the Philippine jurisdiction via the Philippine Stock Exchange? If it happens, any growth or opportunity in the crypto ETF market can be accessible to an ordinary Filipino investor.

Wholesale and Retail CBDC

As for CBDC, like what happens in US politics, the winds are changing. Unlike the articles that have been written in recent days as if the CBDC is about to be released by central banks in different parts of the world, according to this article, the percentage of readiness for it is very low. Only 12% of central banks worldwide are ready for retail CBDC in the mid-term. This means that it will take a long time for the majority of central banks to issue retail CBDCs.

However, when it comes to wholesale CBDC, it is expected to be done within six years. The high interest of BIS in wholesale CBDC compared to retail CBDC is because this international financial institution intends to enter "cross-border payments" in advanced economies and emerging and developing economies such as India, Nigeria, and Brazil. I think the Philippines is also included in this.

According to Denis Omelchenko, BIS wants to remedy the problems of high processing fees, slow service, limited access, and lack of transparency when it comes to cross-border payments. Is it believable? It is up to you to judge whether the BIS is the right institution to address the problems mentioned. If we examine the track record of this institution, their history seems to tell otherwise.

Nevertheless, it was interesting to learn that there is a distinction between wholesale and retail CBDC. I always thought CBDC was just one type.

Crypto Companies in India

Currently, there are 46 crypto companies allowed by the Indian government to operate in their country. This makes 48 because both Kucoin and Binance have been approved to start their operations in the country again. Kucoin just finished paying 41,200 USD so they are authorized. In the case of Binance, the penalty it has to settle is much larger. It costs 2 million USD.

Due to these positive developments, a senior Indian government official has written to the FIU, the financial watchdog to allow 4 more offshore cryptocurrency exchanges to operate in the country. Neither the name of the senior government official nor the 4 offshore cryptocurrency exchanges were mentioned in the article. If these 4 are approved, the total number of crypto companies allowed by the Indian government to operate in the country will reach 52.

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Katatapos ko lang magbasa ng tatlong artikulo mula sa crypto.news at gusto kong magbahagi ng tatlong insights na natutunan ko:

Global ETF

Ayon sa artikulong ito, ang mga asets sa global ETF ay inaasahang lalaki from 13 trillion USD to 35 trillion USD sa taong 2035. Yan ay higit sa 100% growth. Ang forecast na ito ay nanggaling sa Senior ETF analyst ng Binance na si Eric Balchunas.

Binanggit din sa artikulo na pagkatapos ng Bitcoin at Ethereum, ang Solana ang susunod na tatakbo sa ETF race. Sino kaya ang kasunod ni Solana?

Isa sa pinangangambahang kakompetensiya ng crypto ETF market ay ang RWA. Ito ay isang lumalaking isyu sa crypto space. Nakakakuha ito ng atensiyon sa kasalukuyan. Subalit ayon kay Micah Zimmerman, walang dapat pangambahan sapagkat ang RWA ay hindi magiging sanhi upang madisrupt ang ETF market sa future.

Iniisip ko, pwede kayang pumasok sa Philippine jurisdiction and crypto ETF market via Philippine Stocks Exchange? Kung mangyayari, ano mang growth o opportunity sa crypto ETF market ay maaaring maging accessible sa isang ordinaryong inbestor na Filipino.

Wholesale and Retail CBDCs

Tungkol naman sa usapin ng CBDC, kagaya ng nangyayari sa politika sa US, nagbabago rin ang ihip ng hangin. Hindi kagaya ng mga artikulong nasulat nitong mga nakalipas na araw na para bagang ang CBDC ay malapit ng marelease ng mga central banks sa iba’t-ibang panig ng mundo, ayon sa artikulong ito, ay napakababa lang pala ng porsiyento ng kahandaan para dito. Only 12% ng central banks sa buong mundo ang handa para sa retail CBDC sa mid-term. Ibig sabihin, mahabang panahon pa ang kailangan upang majority ng central banks ay makapag isyu ng retail CBDCs.

Subalit pagdating sa wholesale CBDC, inaasahan na ito ay magagawa sa loob ng anim na taon. Ang mataas na interes ng BIS sa wholesale CBDC kumpara sa retail CBDC ay dahilan sa pagnanais ng international financial institution na ito na makapasok sa “cross-border payments” kapa saw mga advanced economies at mga emerging and developing economies tulad ng India, Nigeria, at Brazil. Sa tingin ko, kasama rin ang Pilipinas dito.

Ayon kay Denis Omelchenko, nais ng BIS na lunasan ang mga suliranin ng mataas na processing fee, kabagalan ng serbisyo, limitadong access, at kakulangan sa transparency pagdating sa cross-border payment. Kapani-paniwala ba ito? Kayo na humusga kung ang BIS ang tamang institusiyon upang tugunan ang mga suliraning nabanggit. Kung ating susuriin ang track record ng institusiyong ito, mukhang iba ang sinasabi ng kanilang kasaysayan.

Nakakatuwang matutunan na may pagkakaiba pala sa pagitan ng wholesale at retail CBDC. Ang buong akala ko, isang uri lang ang CBDC.

Crypto Companies in India

Sa kasalukuyan, may 46 na crypto companies ang pinahintulutan ng Indian government na mag operate sa kanilang bansa. Ito ay magiging 48 sa dahilan na kapwa ang Kucoin at Binance ay naaprubahan na maaari ng magsimula muli ng kanilang operation sa bansa. Katatapos lamang ng Kucoin magbayad 41,200 USD penalty kaya sila ay pinahintulutan. Sa kaso ng Binance, mas malaking di hamak ang penalty na kailangang ayusin nito. Ito ay nagkakahalaga ng 2 million USD.

Dahilan sa mga positive development na ito, isang senior government official ng India ang sumulat sa FIU, ang financial watchdog ng bansa na pahintulutan ang 4 pa na offshore crypto currency exchanges na mag-operate sa bansa. Hindi binanggit sa artikulo kapwa ang pangalan ng senior government official at ng 4 offshore cryptocurrency exchanges. Kung maaaprubahan ang 4 na ito, aabot sa 52 ang magiging kabuuang bilang ng crypto companies na pinapayagan ng gobyerno ng India na mag operate sa bansa.

References:

Analyst: Global ETF market could hit $35t by 2035

Next Big Thing in Crypto ETF Race: Solana Spot ETF

Tokenized RWA: A New Era of Stability and Growth in the Crypto Space

Central banks less likely to issue retail CBDCs in mid-term, BIS says

Four offshore crypto exchanges eye return to Indian market

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