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BlackRock says 1-2% a ‘reasonable’ Bitcoin portfolio allocation

The recommendation applies to investors who wish to hold Bitcoin, the asset manager said.

BlackRock, the world’s largest asset manager, said an up to 2% portfolio allocation is “reasonable” for investors who wish to hold Bitcoin (BTC), according to a Dec. 12 report.

The report, which was shared with Cointelegraph and first reported by Bloomberg, says 1-2% is “a reasonable range for a Bitcoin exposure” but cautions that larger allocations “would sharply increase Bitcoin’s share of the overall portfolio risk.”

Meanwhile, a 1-2% BTC allocation poses “on average, about the same share of overall portfolio risk” as a typical allocation to “the ‘magnificent 7’ group of mostly mega-cap tech stocks” in a portfolio comprising 60% stocks and 40% fixed income assets, BlackRock said. 

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Sygnum Secures Liechtenstein License to Expand Crypto Services in EU

Sygnum Secures Liechtenstein License to Expand Crypto Services in EUSygnum, a Swiss digital asset banking group, has registered its local subsidiary with the Liechtenstein financial regulator. This move allows the company to offer regulated services in the EU and European Economic Area under the incoming MiCA framework. With plans for further growth in Asia, including Hong Kong and Singapore, Sygnum continues to strengthen its […]

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Ledn Secures Landmark $50 Million Bitcoin-Backed Loan From Sygnum to Expand Retail Lending Operations

Ledn Secures Landmark  Million Bitcoin-Backed Loan From Sygnum to Expand Retail Lending OperationsLedn, a crypto lending firm, has secured a $50 million Bitcoin-backed syndicated loan from Sygnum, a Swiss digital asset banking group. This loan will be used to expand Ledn’s retail lending operations, providing additional liquidity to the crypto sector and the $1.38 trillion syndicated loan market. The collaboration highlights the growing integration of crypto assets […]

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Ledn secures industry-first $50M Bitcoin-backed syndicated loan

Ledn’s groundbreaking $50 million Bitcoin-backed loan, syndicated by Sygnum, is set to transform retail lending and institutional crypto finance.

On Aug. 20, Ledn, a digital lending platform, announced the successful acquisition of a $50 million syndicated loan backed by Bitcoin.

The Bitcoin (BTC) backed loan is syndicated by Sygnum, a global digital asset banking group with $4.5 billion in client assets.

According to a press release shared with Cointelegraph, the loan marks an industry first and will “fund the growth of Ledn’s retail lending operations.”

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Swiss Crypto Bank Sygnum Achieves Profitability Amid Rapid Growth

Swiss Crypto Bank Sygnum Achieves Profitability Amid Rapid GrowthSwiss-based crypto bank Sygnum has achieved profitability in the first half of 2024, marking a significant milestone in the digital asset industry. The bank’s success is attributed to robust growth across its core business segments, including custody, trading, and lending services. With assets under administration surpassing $4 billion, Sygnum caters to clients from over 60 […]

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Swiss State-Owned Banking Giant Postfinance to Offer Crypto Services

Swiss State-Owned Banking Giant Postfinance to Offer Crypto ServicesPostfinance, one of Switzerland’s largest retail banks, will offer customers access to major cryptocurrencies and related services. The state-owned financial institution will be using the banking platform developed by the Swiss-licensed digital asset bank Sygnum. Postfinance Partners With Sygnum to Provide Digital Asset Products and Services The financial services unit of the national postal service […]

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Master-pieces: Swiss bank issuing NFT shares in Picasso painting for $6K each

Swiss digital asset bank Sygnum is issuing NFTs representing fractionalized ownership in a Picasso painting.

Digital asset-focused Swiss Bank, Sygnum, has teamed up with art investment firm Artemundi to offer fractionalized ownership shares in a Pablo Picasso painting for $6,000 each.

Shares representing ownership over $3.68 million Picasso painting, “Fillette au béret,” will be tokenized and issued via blockchain technology, allowing a wide variety of investors to gain exposure to the artwork.

The nonfungible tokens (NFTs) can be exclusively purchased by sophisticated and institutional investors through Sygnum Bank, with secondary trade set to take place on SygnEx — the bank’s digital asset trading platform.

Trades will be settled in Swiss Francs (CHF) using Sygnum’s native CHF stablecoin, DCHF. Fractionalized ownership over the painting will be recognized by Swiss law.

The 1964 painting depicts a beret-capped child in brightly coloured clothes, and was last sold for $2.48 million in 2016. The physical painting will not be sold, with the artwork slated to remain at a high-security facility when it is not being loaned to museums for exhibition.

Artemundi co-owner, Javier Lumbreras, emphasized the revolutionary utility offered by fractionalized ownership through NFTs stating:

“Artistic, cultural objects of universal appeal, once reserved for an elite group of collectors or the museums, can now be safely and directly owned without the burden of high entry barriers.”

“The art market is absurdly opaque and inefficient, but these traits will soon be relics of a bygone age," he added.

Picasso on the blockchain

Sygnum is not the first company looking to tokenize the work of Picasso.

In June, Soethby’s auction house announced it had teamed up with Mira Imaging with plans to auction Picasso’s work “Le peintre et son modèle” alongside an Ethereum-based non-fungible token created by scanning “every micron” of the painting’s surface to create a “unique encrypted signature” representing the work.

Using a Looking Glass scanner, the NFT could be scanned to confirm the authenticity of the work. However, the NFT offering was scrapped by Sotehby’s, with the painting selling for $3.12 million without an nonfungible counterpart.

Related: Winner spends a fortune in crypto on Sotheby’s diamond auction

Last month also saw the launch of “The Burned Picasso” project from artist collective, Unique.One Community.

After displaying a Picasso sketch at a gallery in Denver, an NFT representing the artwork was minted at the end of the June, with the picture’s physical form getting incinerated.

The NFT auction will be live for the next two weeks, with a starting price set at 0.25 ETH (roughly $500). The auction winner will also receive the framed burnt remnants of original artwork.

In 2018, John McAfee teamed up with DLT platform Maecenas and crypto exchange Ethershift to auction an ERC-721 token representing ownership over a Picasso artwork.

Fillette au béret (Source: Artemundi)

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Sygnum Bank Launches ETH 2.0 Staking – Business Unit Head Says ‘Staking Is a Core Element for Portfolios’

Sygnum Bank Launches ETH 2.0 Staking – Business Unit Head Says ‘Staking Is a Core Element for Portfolios’The Switzerland-based bank Sygnum revealed on Tuesday that the firm now allows Ethereum 2.0 staking. The FINMA-approved company’s customers can access the Ethereum-based staking services via Sygnum’s banking platform. Sygnum’s Banking Platform Offers Ethereum 2.0 Staking Last November, Sygnum Bank AG revealed that it is partnered with the company Taurus Group, a firm that also […]

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