#Coinbase to Offer Crypto Gift Cards in EU and Australia, #Bitmain Plans $1 Billion Finance Round and Bitwise Files with SEC for #Crypto #ETF


Crypto Corner

Coinbase to Offer Crypto Gift Cards in EU and Australia, Bitmain Plans $1 Billion Finance Round and Bitwise Files with SEC for Crypto ETF

In a blog post today, Coinbase UK CEO Zeeshan Feroz announced that customers in the EU and Australia would be able to use crypto stored on the platform to buy e-gift cards. Through their new partnership with gift card company WeGift, users have access to e-gift cards from major retailers such as: Nike, Uber, Google Play, Ted Baker, Ticketmaster and more.

Feroz indicated that Coinbase intends to expand the number of participating retailers and countries. He also wrote that the partnership with WeGift made the use of crypto as an actual currency more tangible.

"Making crypto easier to use, trade and spend is a core part of our efforts to improve the customer experience. With the launch of e-gift cards, customers now have the option to spend their crypto balances, realising its value to buy tangible things or experiences."

Crypto mining giant Bitmain is planning a $1 billion round of financing in the lead up to their Hong Kong public listing at the end of the year, according to local news outlet Toutiao. A rough translation of the piece indicates Bitmain's market share:

"From the market's sales volume, computing power, pool capacity and other indicators, Bitmain has a market share of more than 50%, which is the leading company in the global Bitcoin mining machine."

According to a press release today, Bitwise Asset Management announced their filing of a registration statement for a new exchange traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The ETF will be called the Bitwise HOLD 10 Cryptocurrency Index Fund, and will track the returns of the company's market-cap-weighted index of the 10 largest cryptocurrencies. John Hyland, the company's Head of Exchange-Traded Products commented on the nature of the ETF and the registration process:

"We know that the current crypto ETF filings have generated a great deal of discussion and analysis within the SEC about this emerging asset class, and the SEC and its staff, to their credit, have asked for public comment on a wide range of issues relating to these products. We expect the staff of the SEC has had ongoing discussions with the investment firms making the crypto filings to date, and we look forward to having our own discussions with the SEC about the nature of our proposed offering."

Sam Mowers, Investorideas

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