DeFI News by Thebittimes.Com

BlackRock’s iShares Bitcoin Trust (IBIT) has entered the top 20 list of the biggest ETFs (exchange-traded funds) for the first time, with its assets reaching $90.7 billion. According to an X post by Bloomberg ETF analyst Eric Balchunas, IBIT is now ranked below the Vanguard Dividend Appreciation ETF (VIG US) with its $98 billion in assets, and above the Technology Select Sector SPDR Fund (XLK US) with its assets standing at $90.6 billion. That’s after BlackRock’s spot Bitcoin ETF recorded its biggest net daily inflows since Aug. 14. Analyst Says IBIT Could Enter Top 10 Around December 2026 Asked when or if IBIT could enter the top ten list, Balchunas said the milestone ”may not take long.” “It took in $40b last 12mo and went up 85%,” Balchunas wrote, estimating it could enter the top 10 around Christmas next year.  Someone asked me how long till Top 10. It is $50b away. If the last 12mo are repeated it may not take long. It took in...

The Monetary Authority of Singapore (MAS), in collaboration with leading financial institutions like JPMorgan, DBS, and BNY Mellon, has embarked on a project to explore the potential of asset tokenization, a move that could significantly impact the future of financial transactions and asset management. The Monetary Authority of Singapore (MAS), has embarked on a noteworthy venture to explore the realm of asset tokenization. Collaborating with major financial players like JPMorgan, DBS and BNY Mellon, this initiative is part of the larger Project Guardian, a collaboration that includes international regulatory bodies such as Japan’s FSA, the UK’s FCA and Switzerland’s FINMA. This endeavor by MAS involves rigorous testing of various digital asset applications, including bilateral digital asset trades, foreign currency payments, multicurrency clearing and settlement, fund management and automated portfolio rebalancing. Notably, JPMorgan and Apollo have demonstrated a ...

A joint  report  released on July 29 by Ripple and the US Faster Payments Council shows that blockchain technology could save financial institutions roughly $10 billion in cross-border payment expenses by 2030.  A survey of 300 finance professionals from 45 countries, including those in fintech, banking, media, consumer technology, and retail, revealed that blockchain technology would play a significant role in speeding up payment systems, reducing cross-border payment costs, and enhancing their velocity within the next three years, as reported by the professionals surveyed. Results show that global payments leaders are dissatisfied with legacy rails for cross-border payments. Learn why 97% believe # blockchain and #crypto will transform the way money moves in our latest whitepaper with @Faster_Payments. https://t.co/qacuAAzZrR pic.twitter.com/ForjM05Wbb — Ripple (@Ripple) July 28, 2023 Meanwhile, a recent report from Juniper Research confirms that banks choosing to in...