Bloomberg Partners with Elwood Technologies to Aid Institutional Crypto Adoption

To enable financial institutions and investment managers to govern their crypto investments seamlessly, Bloomberg has partnered with global fintech company Elwood Technologies. - 2022-02-25T165320.153.jpg

In a statement, the strategic integration will enable institutional investors to combine Bloomberg’s workflow, analytics, and data tools with Elwood’s crypto trading capabilities. As a result, rendering a unified investment process meant for optimal returns.

Therefore, Elwood trading platform users will transfer their investments directly into Bloomberg AIM, buy-side order management (OMS). The Financial Instrument Global Identifier (FIGI) will also be used as the handler of the crypto asset integration. 

Ian Peckett, the global head of buy-side product at Bloomberg, welcomed the partnership and stated:

“It has always been our goal to provide clients with the cutting-edge capabilities necessary to manage their entire investment portfolio in an integrated manner, and this increasingly includes alternative asset classes such as cryptocurrencies.”

With approximately 15,000 professionals and at least $17 trillion in assets, Bloomberg AIM intends to transform institutional crypto investment by offering an all-inclusive operating model with Elwood. 

James Stickland, the CEO of Elwood Technologies, said:

“This strategic partnership continues to deliver on our mission of providing access to digital asset markets in a way that institutions expect. We look forward to working closely with Bloomberg to simplify institutional access to cryptocurrency markets.”

The integration is anticipated to be finalized in the second quarter of this year. Since institutional investments started trickling into the crypto market in 2020, exponential growth has been experienced in this sector. For instance, Bitcoin’s institutionalization increased 4-fold to hit a weekly average of $1.9 trillion in December 2021.

Likewise, MicroStrategy, an American business intelligence firm, has been leading the pack in institutional investments, with a Bitcoin portfolio of more than 121,000 BTC.

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Surveillance Firm Launches Launches Push Towards Crypto Market Safety With 16 Other Industry Leaders

New York-based crypto surveillance firm Solidus Labs is teaming up with leading digital asset exchanges, trading firms and industry associations to launch a new crypto market safety initiative.

In a statement, the Crypto Market Integrity Coalition (CMIC) outlines how it will make the crypto market a safer space amid the emergence of new risks.

“The market integrity pledge introduced by the coalition is focused on a commitment to continuously strive towards higher standards of market integrity, risk monitoring, consumer protection and compliance, in order to maintain fair and orderly digital asset markets and prevent market abuse. “

The initiative also wants to engage with regulators to address the challenges in the industry.

“Over time, the coalition will take further steps, including advancing training programs, sharing insights and research, dialoguing with regulators, and considering data-sharing and shared-surveillance frameworks that can address crypto and decentralized finance’s unique cross-market supervision challenges.”

Solidus Labs initiated the formation of the group and co-founded the coalition with 16 other industry leaders, namely Coinbase, Circle Internet Financial, GSR, Huobi Tech, Anchorage Digital, CrossTower, BitMex, Bitstamp, Securrency, Elwood Technologies, CryptoCompare, MV Index Solutions, Global Digital Finance, the Chamber of Digital Commerce, CryptoUK, and Liberty City Ventures.

The CMIC says it is inviting other members of the crypto community to join the coalition.

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Featured Image: Shutterstock/Oceloti/Natalia Siiatovskaia


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CoinShares to Acquire the ETF Index of Elwood Technologies, Owned by Ellen Howard for $17M

Elwood Technologies, the cryptocurrency company of hedge fund giant Allen Howard, sold its ETF index to CoinShares for $17 million.

According to the announcement from Coinshares Tuesday, the acquisition will be settled by equity swap and expecting to be completed this week. CoinShares, Europe’s largest digital asset investment company under the management of one billion assets, will issue 1,298,322 new common shares at $13.09 per share.

Elwood Technologies cooperated with Invesco to launch the Invesco Elwood Global Blockchain Equity UCITS ETF (Invesco Blockchain ETF) to provide exposure to international listed companies, accumulating more than $1 billion in assets since its establishment in 2019.

The acquisition will not affect the trend of Invesco Blockchain ETF and Elwood Index. As part of the acquisition, Elwood’s equity research team focusing on digital assets will also join CoinShares.

Elwood Technologies’s CEO James Stickland added that:

“Elwood is proud to have created the Elwood Global Blockchain Equity Index. This transaction enables Elwood to focus on its core mission to provide world class technology infrastructure for the digital assets market. We are very excited about the opportunities in this rapidly growing area.”

Jean-Marie Mognetti also stated that as people’s investment interest in thematic ETFs increases, this acquisition will be another milestone for CoinShares. He expressed his expectation and welcomed Elwood’s index platform to join the CoinShares team.

Jean-Marie Mognetti said that:

“With investors seeking exposure to cryptocurrencies as well as equities benefiting from blockchain technology, the Elwood Index and Invesco are natural partners for CoinShares.”

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