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13:04
BlackRock plans to integrate USDC into its $25 trillion asset management platform
BlockBeats News, June 29th - According to market sources, BlackRock is planning to integrate USDE into its $25 trillion asset management platform.
12:58
JPMorgan: Institutional Demand for Perpetual Swaps Limited, More Used for Speculative Trading
BlockBeats News, June 29th, JPMorgan Chase stated that, based on its conversations with clients and market participants, institutional demand for perpetual futures remains limited. Such products are more often seen as speculative trading tools rather than alternatives to traditional derivatives. The report noted that although perpetual futures support 7x24 trading and eliminate the cost of rolling futures contracts, the majority of trading comes from traders seeking leveraged directional exposure rather than institutions with genuine hedging needs. Furthermore, the report suggests that factors such as basis risk, lack of term structure, inadequate physical delivery, and the lack of traditional clearing guarantees in on-chain products have all hindered institutional adoption. (CoinDesk)
12:56
Tom Lee: End-of-quarter portfolio rebalancing causes weakness in the crypto market, Bitmine increases holdings by $43 million in ETH
Tom Lee attributed the recent weakness in the crypto market to end-of-quarter portfolio adjustments. Bitmine purchased $43 million worth of ETH, marking Bitmine’s smallest-scale purchase since early May. Tom Lee noted that investors are cutting losses before the start of the second half of the year.
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