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Weekly Wrap Up #15

Quote of the week: 

“BITO will open up exposure to Bitcoin to a large segment of investors who have a brokerage account and are comfortable buying stocks and ETFs, but do not desire to go through the hassle and learning curve of establishing another account with a cryptocurrency provider and creating a Bitcoin wallet or are concerned that these providers may be unregulated and subject to security risks,” – ProShares CEO Michael Sapir. Source: https://cointelegraph.com/news/proshares-bitcoin-linked-etf-launches-on-nyse-as-btc-price-dips-above-63k

Blockchain Moon Acquisition Corp $100M SPAC begins Trading on the Nasdaq.  

Blockchain Moon Acquisition Corp SPAC continued with the company commencing trading on October 19 under the ticker BMAQU.

Source:https://www.globenewswire.com/news-release/2021/10/21/2318841/0/en/Blockchain-Moon-Acquisition-Corp-Announces-Closing-of-100-Million-Initial-Public-Offering.html

Source: Nasdaq 

The Bitcoin ETF is Here: 
The first-ever U.S. Bitcoin exchange-traded fund started trading on Tuesday, October 19, under the ticker BITO. The fund opened at a price of $40 per share and increased more than 3% at the start of trading. As of October 21, BITO is trading at $40.83.

Sources:  https://www.wsj.com/articles/a-bitcoin-etf-is-almost-here-what-does-that-mean-for-investors-11634376601?siteid=yhoof2https://www.barrons.com/articles/bitcoin-etf-proshares-bito-51634631544?siteid=yhoof2 

Market Cap: Crypto to the Moon! 
The market capitalization for all cryptocurrencies has pushed to a new record of $2.7 trillion; total market capitalization has more than tripled since the beginning of this year. The surge in valuation is spurred by bullish sentiment and the rollout of the first Bitcoin ETF on the NYSE. Cryptocurrency is becoming more legitimately viewed as an asset class and inflation hedge for investors.

Source:  https://finance.yahoo.com/news/crypto-market-cap-surges-record-131151150.html 

Bitcoin Update:  
Bitcoin has hit its all-time high this week of $66,982, surpassing the $60,000 price mark for the first time since April 2021. The spike in price is thought to have come from the Bitcoin ETF approval and inflation concerns. The price has dipped since its ATH (all-time high), but the sentiment remains bullish. 
Sources: https://www.newsbtc.com/analysis/btc/ta-bitcoin-corrects-from-record-high-dips-remain-attractive/https://cointelegraph.com/news/bitcoin-hits-60k-for-the-first-time-since-april-after-reports-of-imminent-etf-approvalhttps://cointelegraph.com/news/jpmorgan-says-inflation-concerns-not-etfs-driving-bitcoin-price-jump 

Ethereum Update: 
This week, Ethereum (ETH) traded at over $4,000, which is only the second time the cryptocurrency has traded at that level since May. 
Source: https://coinmarketcap.com/currencies/ethereum/

Mass Adoption: NBA & WNBA:  
On October 19, Coinbase announced its multi-year, exclusive partnership with the NBA and WNBA. According to the NBA, Coinbase will create “unique content, innovations, activations, and experiences” for basketball players and fans to learn about cryptocurrency.

Source: https://cointelegraph.com/news/coinbase-announces-multiyear-partnership-with-nba-and-wnba And, that’s a wrap!

Jordana Cohen,

Associate

Alpha Sigma Capital

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Alpha Sigma Capital
Daniel Siciliano

F. Daniel Siciliano is an Independent Director of the Federal Home Loan Bank of San Francisco and Chair of the American Immigration Council. He is the former faculty director of the Rock Center for Corporate Governance at Stanford University and former Professor of the Practice and Associate Dean at Stanford Law School. His work has included expert testimony in front of both the U.S. Senate and the House of Representatives and for 2009, 2010, and 2011, alongside leading academics and business leaders such as Ben Bernanke, Paul Krugman, and Carl Icahn, Professor Siciliano was named to the “Directorship 100” – a list of the most influential people in corporate governance.

Siciliano was also co-founder, CEO and ultimately Executive Chairman of LawLogix Group, Inc. – a global software technology company named 9 consecutive times to the Inc. 500/5000, several times ranked as one of the Top 100 fastest-growing private software companies in the US and named to the US Hispanic Business 500 (largest) and Hispanic Business 100 (fastest growing) lists for 2010 and 2011. In 2012 he sold a majority stake of the company to PNC Riverarch Capital, continued as Executive Chairman, and led the sale of the company to Hyland Software/Thoma Bravo in 2015.

Siciliano is a co-founder and board member of the Silicon Valley Directors’ Exchange (SVDX), Chairman of the national non-partisan American Immigration Council, past-President of the League of United Latin American Citizens (LULAC) Council #1057, and an active member of the Latino Corporate Directors’ Association.


Siciliano’s related areas of expertise include executive compensation, corporate compliance, the legal and social impact of autonomous (AI/robotic) systems, and corporate technology strategy and security. He has served as a governance consultant and trainer to the Board of Directors of dozens of Fortune 1000 companies (including Google, Microsoft, Fedex, Disney, Entergy and Applied Materials), is an angel investor and consultant to several firms and companies in Silicon Valley, Hong Kong, India, and Latin America, and currently serves as an independent director on the board of the Federal Home Loan Bank of San Francisco. He lives in Los Altos, California.