Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights 🧵:
1/ BlackRock's iShares Bitcoin Trust (IBIT) ETF now holds over US$33B in assets, surpassing the asset manager's long-standing gold ETF, iShares Gold Trust (IAU). This milestone is remarkable given that IBIT was launched only 10 months ago, compared to IAU which has been trading since 2005. The surge in assets follows a significant inflow of US$1.1B on November 7, driven by investor optimism after Donald Trump's presidential election victory.
2/ On November 14, 2024, Tether announced the launch of Hadron, a platform designed to simplify the tokenization of various assets, including stocks, bonds, stablecoins, and loyalty points. Hadron aims to make asset tokenization more accessible, offering a comprehensive suite of tools for compliance, security, and lifecycle management of digital assets. The platform supports multiple blockchains and provides a user-friendly interface, enabling institutions, fund managers, governments, and private companies to easily tokenize and manage assets.
3/ The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) released a consultation paper for Project Acacia, seeking industry feedback on the use of digital money and infrastructure to support wholesale tokenised asset markets in Australia. The project, part of a broader roadmap on central bank digital currency (CBDC) and digital money, invites industry participation in an experimental research phase and in joining an Industry Advisory Group. Brad Jones, RBA Assistant Governor, emphasized the strategic importance of this initiative in shaping the future of money and enhancing the efficiency and resilience of wholesale payments and settlements.
Check out our latest publications from this week 🔎: Exploring The Future of AI Agents in Crypto