News linked to both this project and an event.
Odaily Report: Thailand's listing rules for Bitcoin and Ether exchange-traded funds (ETFs) will take effect on Friday. James Butterfill, head of research at digital asset investment firm CoinShares, said initial inflows for the first batch of products are expected to be in the tens of millions of dollars, and expectations of reaching billions are unrealistic.Once the new rules take effect, Thai retail investors will be able to gain exposure to the relevant assets through locally listed crypto ETFs; investing in overseas crypto ETFs through domestic brokers will be limited to institutional investors and ultra-high-net-worth investors. The first batch of Thai crypto funds will still need to obtain regulatory approval and complete custody and distribution arrangements before they can trade.Butterfill compared the situation to Hong Kong. As of the end of September, global crypto exchange-traded product (ETP) assets under management stood at $172.9 billion, of which Hong Kong accounted for $733 million, or 0.42%.He said some investors have already gained Bitcoin exposure through overseas funds or direct trading, which could limit demand for local ETFs. MFC Asset Management launched the Bitcoin ETF Tracker Fund (MBTCETF-UI) in 2024, which invests in BlackRock's iShares Bitcoin Trust (IBIT); ONE Asset Management became the first Thai asset management company approved for a Bitcoin ETF-linked fund in the same year. (Cointelegraph)
: Harmony has released an update on the exchange reconciliation progress following the August 11 incident. It has verified on-chain deposits/withdrawals and cross-platform fund flows with Binance, Gate, KuCoin, MEXC, OKX, and Binance.US, prioritizing the coordination of restoring ONE deposits, withdrawals, and trading, with specific timelines to be announced separately by each exchange.Harmony stated that after matching 295 cross-exchange transfers totaling approximately 3.493 billion ONE and adjusting for circular transfers and returned funds, the preliminary shortage has been reduced from approximately 10.234 billion ONE to 6.581 billion ONE, a decrease of about 3.653 billion ONE. This change reflects an adjustment in reconciliation methodology and does not equate to newly recovered funds.Among these, Binance's data remains a preliminary upper-bound estimate, while some data from Gate and OKX are still pending final verification. Exchange teams have already frozen significant ONE balances and hacker proceeds. These efforts will be coordinated with the ONE migration and validator transition proposal, and validators may cease operations starting 22:00 Beijing time on September 10.