VanEck, an investment management firm with an $89.5 billion valuation, is set to shut down its bitcoin futures-based exchange-traded fund (ETF), Bitcoin Strategy ETF (XBTF). Meanwhile, Borroe Finance ($ROE) and Sui are gaining attention with the performance of their altcoins.
VanEck’s Bitcoin Futures ETF
The reason for VanEck’s dissolution of Bitcoin Strategy ETF (XBTF) is based on performance, liquidity, asset under management (AUM) and investor interest.
As it contains over $53 million in bitcoin futures contracts, the ETF is due to halt trading on January 30. This is in line with VanEck’s efforts to consolidate on its new bitcoin spot ETF, the VanEck Bitcoin Trust (HODL), which has already left XBTF trailing behind regarding total net assets.
Having in mind the changes concerning investment strategies as far as crypto market is concerned, VanEck’s futures-based ETF shutdown reveals a larger scale approach to bitcoin spot offerings. Blackrock (IBIT) and Fidelity (FBTC) are also drawing institutional investors to their spot bitcoin ETFs, though the Grayscale Bitcoin Trust (GBTC) is still much bigger globally with about $26 billion in net assets.
The aggregate funds under management of the 10 spot bitcoin ETFs that currently exist in the U.S market are estimated at about $28 billion, which is predicted to grow by folds and reach around $100 billion.
SUI: Riding the DeFi Momentum
Recent data review a significant increase in SUI’s trading volumes that hit $950 million on January 13th to record more than 2,200% growth in three months. The SUI TVL has also witnessed remarkable progress, growing over 800% from $54.39 million in October 2017 to its current value of $329 million.
In particular, Sui’s Relative Liquidity Ratio (RLR) suggests an increasing trader response indicating a strong up-trend.
Borroe Finance: Pioneering Web3 Financing
Whales in the crypto realm are now gravitating towards Borroe Finance ($ROE) as the project introduces itself as an important player within Web3 financing. In the Web3 ecosystem, there is a growing need for innovative financing solutions. This is an area of specialty that Borroe Finance finds itself on point to alleviate traditional financial restrictions.
Borroe Finance pioneers a shift in the funding processes of Web3 businesses. Realizing the liquidity problems that entities from NFT gaming artists to decentralized platforms are confronted with, Borroe Finance offers an original platform through its AI invoice discounting NFT marketplace.
A key driving force of Borroe Finance’s mission is its governance token $ROE, which allows Web3 businesses and holders to create NFTs encoding their future revenues. These revenue sources may include subscription, royalties and management fees.
With the sale of these NFTs at a lower cost on the Borroe Finance marketplace, businesses are able to enjoy immediate capital gains and investors get an opportunity to participate in project success.
At the core of Borroe Finance’s operation lies a trifecta of cutting-edge technologies: Blockchain, AI risk assessment technology and smart contracts. This combination eliminates the traditional challenges of long approval periods and bulky documentation throughout funding process automation. This leads to an interface that provides fast, effective and safe transactions between sellers or buyers.
At the current presale stage, $ROE is being sold for $0.019 per token. More than 80% of the allocated tokens for this stage have been sold, allowing Borroe Finance to raise over $2.6 million so far.
In the operational philosophy of Borroe Finance, security stands first. Using the transparency of blockchain technology, all transactions that occur on the platform are traced.
Under the leadership of Michael Price, a former VP at XE.com and Maxim Prishchepo – an experienced figure in the blockchain industry, the team brings visibility and expertise forward. This openness provides a sharp contrast to other projects with anonymity, which are typically treated with suspicion within the crypto community.
BlockAudit, a leading smart contract auditing platform has audited Borroe Finance’s code. This detailed inspection guarantees safety for all users, making Borroe Finance’s presale different from hype-driven initial coin offerings.