Kiffmeister’s #Fintech Daily Digest (20220811)

Ether Tops $1.9K as Ethereum Runs Final ‘Merge’ Rehearsal

Ether (ETH) rose to a two-month high, outperforming bitcoin after Ethereum ran the final dress rehearsal of Ether’s switch to the proof-of-stake (PoS) consensus from the proof-of-work (PoW) consensus. This brings the Ethereum mainnet one step closer to the Merge expected to take place in mid-September. The Merge will combine Ethereum’s current PoW chain with the PoS Beacon chain. If the Merge is successful, the Ethereum blockchain will become more scalable and efficient, its electricity requirements expected to fall by over 99%. [Read more at CoinDesk]

BlackRock launches a bitcoin private trust

BlackRock launched a new private spot Bitcoin (BTC) trust. The fund is only available to U.S. institutional investors and seeks to track the performance of Bitcoin, less the expenses and liabilities of the trust. Private investment trusts that do not solicit investments from retail investors do not need to register with regulatory authorities in the United States. But others, such as the Grayscale Bitcoin Investment Trust, can still become publicly traded (though not SEC-registered) on the over-the-counter markets. [Read more at BlackRock]

Kiffmeister’s Global Central Bank Digital Currency Monthly Monitor

Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So for any of you out there who work for a central bank, ministry of finance or international financial institution who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at chronicles@kiffmeister.com.

Upcoming events I’m affiliated with:

The CBDC Think Tank, in partnership with the International Monetary Fund and George Washington University, is hosting a full-day in-person CBDC Masterclass on October 12 in Washington DC. The sessions are designed as instructional deep dives with full presentations and Q&A components.  [Register here]

The CBDC Think Tank, in partnership with Georgetown University and the DC FinTech Week, is hosting a Digital Currency Lecture Series, a set of digital currency lightning talks delivered by subject matter experts, on October 14 in Washington DC. [Request an invite here]