BtcETF

The growing role of platforms like BitGo in spot Bitcoin products worldwide is a double-edged sword, according to market observers.
BitGo, a US-regulated crypto custodian, will safeguard assets for Central Asia’s first spot Bitcoin exchange-traded fund (ETF), which debuted Wednesday on the Astana International Exchange in Kazakhstan.

The Astana International Exchange (AIX), a stock exchange operating within the Astana International Financial Centre (AIFC) framework, announced the listing of the Fonte Bitcoin Exchange Traded Fund (BETF) on Wednesday.

Managed by AIFC-registered asset manager Fonte Capital, BETF offers indirect investment access to Bitcoin
BTC
$120,276
to a wide range of investors, including retail participants, AIX said.

The BETF fund is physically backed by Bitcoin held in custody of BitGo Trust, a US-based subsidiary of BitGo, which is known for providing BTC custody to major US Bitcoin ETF issuers, including ARK Invest and 21Shares.

US-regulated cold storage for Kazakhstan
BitGo’s involvement in Fonte Capital-issued spot Bitcoin ETF marks the first time for the platform to provide institutional-grade Bitcoin access to investors in Central Asia, the company said in a statement on X.
“Kazakhstan is entering a new era for digital assets,” the company said, adding that it will offer its custody services through “secure, US-regulated cold storage.”
Resource: Cointelegraph.com
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Tax Commissioner of Próspera, Jorge Colindres, has stated that this change expands economic freedom for the residents of the region.
In Próspera, a special economic zone on the island of Roatan in Honduras, #bitcoin was recently recognized as an accounting unit, allowing its use for valuing goods and services. This decision comes less than two years after the introduction of bitcoin as an official currency in the zone.
 Jorge Colindres, the acting manager and tax commissioner of the Próspera Zone for Employment and Economic Development (ZEDE), announced this move on January 5th. On January 7th, on the social network X (formerly Twitter), Colindres explained that the goal is to provide greater financial freedom to the residents and businesses in the area.

 
"In @ProsperaZEDE, we support financial and monetary freedom. People should have the freedom to choose the currency for transactions, accounting, and tax reporting," Colindres stated. He mentioned that bitcoin can now serve as a monetary unit for valuing goods and services in Próspera.
 However, Colindres emphasized that currently taxes cannot be paid directly in bitcoin due to technological and regulatory limitations. For now, tax liabilities in bitcoin will be converted into US dollars or Honduran lempira for reporting to Próspera ZEDE.
 Colindres added that once the issues are resolved, it will be possible to report and pay tax liabilities directly in bitcoin. Entities wishing to use bitcoin as an accounting unit must inform the Próspera tax commission within 30 days of the respective tax period and refer to an approved cryptocurrency exchange, such as Coinbase or Kraken.
Próspera ZEDE was established in May 2020 and has become one of the main economic zones in the region. In April 2022, it adopted bitcoin as its official currency, shortly after the neighboring country El Salvador did the same in September 2021. Colindres described Próspera ZEDE as one of the most competitive special regimes in Latin America, which, in its three years of operation, attracted investments exceeding 100 million dollars and created more than 3,000 jobs.
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 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The spot ETF is about to be listed, and it is not the one BlackRock applied for. This time it is the 2x Bitcoin strategy ETF launched by VolatilityShares. It is also the first spot ETF that has not been rejected by the SEC. It has taken effect on Friday. It is said that next Tuesday It is about to be officially listed for trading. The exchange is COBE and the stock code is BITX. From the smooth passage of this ETFI, we can see that the SEC is no longer stubborn, so this has opened the door to spot ETFs. Next, BlackRock and Valkyrie will be the highlight. BlackRock's should be listed on the New York Stock Exchange, and Valkyrie's On Nasdaq, it can be understood that Volatility Shares has listed Bitget, and then the spot ETFs of BlackRock and Valkyrie will be listed on Binance and CB. The user bases are completely different, and there are also Bitwise, Wisdomtree, Invesco, VanEck and the like. Institutions will gradually launch spot ETFs. According to an expert from the United States, BlackRock's move into the encryption field may start a $15 trillion encryption boom. This is also the most important reason why the encryption market continues to rise in recent days.