Golden Finance reported that SygnumBank announced its first half-year profit as the debut of the Bitcoin (BTC) exchange-traded fund (ETF) in the United States and the expectation of Ethereum (ETH) approval boosted trading volume and expansion in other business areas. The bank, headquartered in Zurich, Switzerland, did not disclose its profit figures. Spot cryptocurrency trading volume doubled in the first half of the year compared with the same period last year, and cryptocurrency derivatives trading volume increased by 500%. The $40 million raised in January helped increase core equity to approximately $125 million. Sygnum has licenses in Luxembourg, Singapore and Switzerland, and the company plans to obtain a new license in Europe under the Crypto Asset Market (MiCA) regulations. The regulations came into effect last month and introduced a single regulatory environment within the 27-nation trade zone. The company also plans to expand its regulated business in Hong Kong.