April 15 – 21, 2019 | Endowment Funds, Crypto Regulations & More Crypto News

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

Study: 94% of Surveyed Endowment Funds Allocate to Crypto

April 15 – A new study has determined that around 94% of surveyed endowment funds have already allocated to crypto-related investments. The study was conducted in Q4 2018 by Global Custodian, The Trade Crypto, and BitGo. Out of 150 surveyed endowments, 89% of the respondents were reportedly based in the United States, with the rest either in the United Kingdom or Canada. The survey concluded that endowment funds are allocating either through direct cryptoasset exposure, or through various types of crypto funds. According to those surveyed, the three most important criteria for selecting crypto-related funds are that they comply with regulatory oversight, have sufficient capital flows and liquidity, and their ability to offer account security. “All the talk over the past 18 months has been around when institutional investors will begin participating in cryptocurrency investments, but it turns out they had already arrived, in the form of endowment funds,” said Jonathan Watkins, the managing editor at Global Custodian.

Read the full press article here.


Report: The Cryptocurrency Bear Market Could be Over, Moving Into Accumulation Phase

April 19 – A new report by Adamant Capital has found that the bear market in cryptocurrencies has come to an end and may already be in its accumulation phase. The report noted that the accumulation phase is expected to bring bitcoin (BTC) to trade between $3000 USD and $6500 USD before entering its new bull market. Interestingly, the report highlighted that most retail traders have since left the asset class, and agnostic traders and other long-term investors currently dominate most of the trade of bitcoin. Adamant Capital utilized a volatility lows analysis to help draw their conclusion, along with other technical indicators. The volatility lows analysis included the 60-day volatility of bitcoin, which according to the report, dipped below the 5% mark. This low point in volatility coincides with the accumulation phase in bitcoin which occurred in late 2016. “During the accumulation phase, the market will trade in a range: the weak hands, who are trying to get out of the market, take profit during rallies and thus create the resistance, and the strong hands, looking to accumulate, buy at the bottom of the range which eventually creates a floor in the piece,” said the report.

Read the full article here.

Read the full report here.


France Asks EU Partners to Adopt Their Crypto
Regulatory Framework

April 15 – Bruno Le Maire, the French Finance Minister, has announced that France intends to push the European Union (EU) and its member countries into adopting France’s new regulatory framework for cryptocurrencies. Last week, the French parliament approved a bill that would allow companies to apply for a certification that will let them issue new cryptocurrencies or trade existing cryptocurrencies. The bill is the first of its kind which has been adopted by a leading country. The bill will allow French authorities to identify those behind new coin issuances and exchanges, enforce anti-money laundering (AML) rules, and verify business plans. The bill also gives these companies official recognition and allows the country to tax their profits. “I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience,” said Le Maire at a blockchain technology event in Paris. “Our model is the right one.”

Read the full article here.


Microsoft and Enterprise Ethereum Alliance Team Up to Bring Blockchain Providers Together

April 17 – Microsoft has teamed up with the Enterprise Ethereum Alliance (EEA) to help bring major blockchain providers together to help businesses design and implement their own crypto tokens. The EEA is a non-profit organization that helps create specifications standards for businesses that use the Ethereum blockchain and its technology. The EEA acts as a host for the “Token Taxonomy Initiative”, which also supports other blockchain technologies such as Hyperledger, Corda, and DAML. Members of the Token Taxonomy Initiative include Intel, JP Morgan, and Banco Santandar, among other firms. According to the executive director of the EEA, Ron Resnick, the Token Taxonomy Initiative will be a composition framework that will help standardize token technologies across multiple networks. “We are doing this for the greater common good. Standardizing tokens across all networks could hold the key to one of the greatest economic opportunities in modern history.”

Read the full article here.


Japanese Regulators Want More Internal Oversight of Exchange Cold Wallets

April 2 – Japanese regulators will now require cryptocurrency exchanges to strengthen the internal oversight of their cold storage wallets. Cold storage wallets are used by cryptocurrency exchanges to store client cryptocurrencies offline so they cannot be stolen by external hackers; however, the Financial Services Agency (FSA) of Japan has noted that there is an internal risk associated with cold storage wallets. Internal theft remains an issue for the regulator, citing that some cryptocurrency exchanges have failed to implement rules to counter thefts made by employees with control to the private keys to these wallets. Some rules, such as a regular rotation of the employees who are in charge of the cold storage wallets have still not been addressed by several exchanges. The exchanges that the regulator has identified of being at risk for lack of internal control have not yet been made public.

Read the full article here.


3iQ Global Cryptoasset Fund: Price as at April 18, 2019

3iQ is the first regulator approved multi-cryptoasset portfolio manager in Canada, providing accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.

Share This Story!

Subscribe to the North iQ Weekly Newsletter and What Happened in Bitcoin & Ether? reports and stay updated on 3iQ’s news, announcements and developments in 2022.

Subscribe to the Monthly Fund Updates for all of 3iQ’s fund performance profiles.

Subscribe to Research papers and Blogs for recaps and insights on digital asset industry developments, and bitcoin & ether performance analysis.

Related Posts

March 15, 2022 | North iQ Newsletter

El Salvador may reportedly be the first country to ever issue debt backed by bitcoin (BTC) this week. The issuance could mark a major milestone

February 25, 2022 | North iQ Newsletter

The Role of Digital Assets in RRSP Season Investors are increasingly relying on ETF products to gain exposure to certain asset classes, such as digital

February 18, 2022 | North iQ Newsletter

Incremental Allocation to bitcoin (BTC) Over the last five years, traditional 60/40 equity and bond portfolios which had allocated to bitcoin (BTC) performed well compared to

Disclaimer

This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.