Bitpanda, a cryptocurrency trading platform headquartered in Vienna and backed by billionaire Peter Thiel, is reportedly exploring options for its future, including a potential initial public offering (IPO) on the Frankfurt Stock Exchange.

Emory University, founded in 1836 and based in Atlanta, Georgia, has recently disclosed a $15.8 million investment in a spot Bitcoin exchange-traded fund (ETF). The university’s decision to invest in a Bitcoin ETF makes it seemingly the first college endowment to publicly report such an allocation.

On Monday, Hong Kong Exchanges and Clearing Limited (HKEX) introduced the HKEX Virtual Asset Index Series, strengthening Hong Kong’s status as Asia’s leading center for digital assets. Set to debut on November 15, the Index Series will deliver transparent benchmarks for Bitcoin and Ether, specifically tailored for the Asian trading period.  

Top stories in the Crypto Roundup today:

• Peter Thiel-Backed Exchange Bitpanda Considering IPO or Sale Amid Crypto Comeback
• Emory University Becomes First US Endowment to Invest in a Spot Bitcoin ETF 
• HKEX to Launch Benchmarks for Bitcoin and Ether Pricing

Peter Thiel-Backed Exchange Bitpanda Considering IPO or Sale Amid Crypto Comeback

Bitpanda, a cryptocurrency trading platform headquartered in Vienna and backed by billionaire Peter Thiel, is reportedly exploring options for its future, including a potential initial public offering (IPO) on the Frankfurt Stock Exchange.

According to individuals familiar with the situation, Bitpanda has enlisted Citigroup and JPMorgan Chase to assist with the process, although the company's sale remains under consideration. Any deal, if pursued, could value Bitpanda at $4 billion or more.

Should Bitpanda decide to proceed with an IPO or sale, it is likely that a transaction will take place sometime next year. However, discussions are still ongoing, and the company may ultimately choose not to pursue either option.

The move comes amid a cryptocurrency market rally fueled by U.S. regulatory approval of spot Bitcoin exchange-traded funds (ETFs) in January, which has increased the attractiveness of digital asset firms. Market optimism over the possible election of pro-crypto candidate Donald Trump has also contributed to recent gains.

Founded in 2014, Bitpanda enables retail trading in crypto, equity derivatives, and commodities. The Austrian firm was valued at $4.1 billion in August 2021 after securing $263 million from investors, including Thiel’s Valar Ventures, billionaire Alan Howard, and REDO Ventures. The company, which projects record profits for 2024, generated over €100 million ($108 million) in revenue during Q1 2024.

Emory University Becomes First US Endowment to Invest in a Spot Bitcoin ETF

Atlanta-based Emory University, founded in 1836, has recently disclosed a $15.8 million investment in a spot Bitcoin exchange-traded fund (ETF), seemingly making it the first college endowment to publicly report such an allocation.

According to a filing with the U.S. Securities and Exchange Commission (SEC), the university's endowment holds approximately 2.7 million shares in the Grayscale Bitcoin Mini Trust (BTC). The Grayscale Bitcoin Mini Trust (BTC), listed on NYSE Arca on July 31, 2024, is a low-cost spin-off of the Grayscale Bitcoin Trust (GBTC) created to provide investors with accessible exposure to Bitcoin.

Most American university endowments, including Emory’s, are structured as a collection of funds rather than a single fund. This is a common model among universities, where the endowment is a consolidated pool of numerous individual funds, each designated by donors for specific purposes—like scholarships, research, faculty chairs, or capital projects.

This structure allows the university to manage donations according to the donor’s intent while benefiting from the scale and diversification of a larger, collectively managed investment pool.

HKEX to Launch Reliable Benchmarks for Bitcoin and Ether Pricing

Hong Kong Exchanges and Clearing Limited (HKEX) has introduced the HKEX Virtual Asset Index Series, strengthening Hong Kong’s status as Asia’s leading center for digital assets. Set to debut on November 15, the Index Series will deliver transparent benchmarks for Bitcoin and Ether, specifically tailored for the Asian trading period.

This series will feature both the Reference Index and the Reference Rate for Bitcoin and Ether. The Reference Index will provide a 24-hour, volume-weighted spot price sourced from top-rated digital exchanges and updated continuously in US dollars.

Meanwhile, the Reference Rate will serve as a daily reference point for financial product settlements, calculated at 4:00 pm Hong Kong time. The HKEX Virtual Asset Index Series will be the first of its kind in Hong Kong to comply with the EU Benchmarks Regulation (BMR) standards.

The series will be managed and calculated by CCData (a UK-regulated benchmark administrator and one of the leading digital asset data and index solutions providers), which was acquired by CoinDesk earlier this month.

The indices included in the series are the HKEX Bitcoin Reference Index, HKEX Ether Reference Index, HKEX Bitcoin Reference Rate, and HKEX Ether Reference Rate.

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