Bitcoin + Futures = Reality

GM Readers!📪 It's BitDegree Insider, it's time to get one of those Web3 espresso tonics.

⭐️Today's selection:

• 🎇Bitcoin ETF In The House
• 💰Venture Mondays
• 👌Selected Meme of The Day
• 📰Bite-Sized News

BITCOIN ETF 

Some futuristic news. Bitcoin + Futures = Reality.

The US Securities and Exchange Commission (SEC) has shown the green light for the first leveraged Bitcoin Futures ETF offered by Volatility Shares, with trading set to commence next week.

This comes amidst the cryptocurrency market's recent surge, coupled with the backdrop of the regulator's enforcement actions against major crypto exchanges.

Let's learn: In the context of Bitcoin, an ETF refers to an Exchange-Traded Fund that is focused on Bitcoin as its underlying asset. An ETF is a type of investment fund and exchange-traded product that tracks the performance of a specific asset or a group of assets. It allows investors to gain exposure to the price movements of Bitcoin without directly owning the cryptocurrency.

Simultaneously, HSBC Hong Kong is offering its clients the opportunity to trade Bitcoin and Ethereum ETFs.

The institution's move includes offerings like CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF, making it the first major establishment to provide such a service.

The crypto market is experiencing a surge due to escalating institutional interest.

However, investors should bear in mind that holding an ETF share doesn't translate to possessing the actual crypto assets - adhering to the principle of "not your keys, not your coins."

Presently, in Hong Kong, there aren't many alternative options.

Thus, such developments are considered positive for those who can choose between self-custody of keys or opting for ETFs.

Regardless, this trend contributes to the growing demand for crypto in all forms.

TL;DR: The US SEC approves the first leveraged Bitcoin Futures ETF while HSBC's Hong Kong unit starts offering Bitcoin and Ethereum ETF trading.

VENTURE MONDAYS

Omnichain money market powered by LayerZero TapiocaDAO raised $6M in a Seed funding round from Fisher8 Capital, LayerZero Labs, Parc Capital, Magnus Capital, Dewhales Capital, Capybara Capital, Jones DAO, DCF God.

Tapioca pioneers a service that enables borrowing, lending, and money management across numerous blockchains in an omnichain fashion.

It boasts a unique stablecoin named USDO, designed for hassle-free utilization across various systems without additional charges or delays, all made possible by its foundation on LayerZero.

An astonishing fact to note: early users who merely tested the platform were rewarded with an exclusive NFT valued at 1 ETH.

While it's uncertain if the next direct rewards will be that big, Tapioca is set to introduce its own stablecoin and token, offering likely additional opportunities.

It's worthwhile to start delving into their Testnet and see how it's goes for you:

1. Add the Testnet for Fantom, AVAX, Arbitrum. You can do this through the Chainlist.
2. Acquire Test Tokens: the next step is to obtain test tokens for Fantom, AVAX, and Arbitrum. You can acquire these tokens through the following faucet links:a. Fantom Faucetb. AVAX Faucetc. Arbitrum Faucet
3. Mint Tokens: Once you have your test tokens, visit the following website to mint your tokens: Tapioca Beta
4. Test Borrow, Lend, Teleport Functions on the platform.

Good luck!

The DeFi infrastructure startup, Maverick Protocol, has secured an investment of $9M led by Founders Fund. Other participants in the funding round include Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto.

The company's focus is on building a more efficient infrastructure for liquid tokens to address liquidity issues between blockchains.

While it is no longer possible to become an early supporter, it is worth engaging with the platform for the next batch of the already confirmed MAV token (which is launching on Binance in 2 days)!

The current season is underway since June 22, where one needs to provide liquidity, swap tokens, and be an active participant on their platform.

The DEX, Vertex Protocol, has received a strategic investment from Wintermute Ventures. This move allows both firms to deepen their ties across various business areas and includes Wintermute providing liquidity for the Vertex Protocol exchange.

The market-maker will also help launch Vertex's token (VRTX) this fall. The token will be allocated to the active users of the platform. We have a comprehensive guide available.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Hedera Network Allows to Create Plugin Interacting with ChatGPT. The plugin will be useful for investors looking to "tap into AI with blockchain."
• US Supreme Court Halts Court Proceedings Against Crypto Exchange Coinbase. Coinbase takes a legal win in two lawsuits in California.
• Crypto Exchange Binance Slams Brakes on Plans to Delist Privacy Coins in Europe. After less than a month, Binance changed its stance on delisting 12 privacy coins.