January Recap - New group CEO, US-Bitcoin spot ETF approval, a review of 2023 and outlook to 2024

In 2023, the crypto industry faced challenges and experienced market consolidation, yet demonstrated remarkable resilience. Despite the noticeable crypto winter throughout most of the year, a positive trend emerged towards the end, offering optimism for a more favorable 2024.

A pivotal moment early in the year was the approval of eleven Bitcoin spot ETFs by the US SEC, marking a significant milestone. Coupled with the anticipated Bitcoin Halving, the Ethereum Dencun upgrade, and other developments, 2024 holds promising prospects for the crypto landscape.

Bitcoin Suisse expresses gratitude for the loyalty and support of its clients, contributing to a solid 2023. We would like to take the chance to reflect on key milestones and product innovations from the past year and look ahead to exciting highlights in 2024.

Reflecting on 2023 and peering into 2024

A look back at 2023

• In early 2023, Bitcoin Suisse successfully implemented TCS BaNCS, a crypto-compatible core banking system, in collaboration with Tata Consultancy Services.
• Bitcoin Suisse joined Liquid Collective, a liquid staking protocol offering an alternative to traditional staking. Users can use the receipt token generated by the Liquid Collective protocol (LsETH) to participate in Web3 and Decentralized Finance (DeFi) during staking.
• Integration of the KILT protocol into the Bitcoin Suisse Vault, providing users with decentralized digital identity access.

• Bitcoin Suisse Research publishes the Global Crypto Taxonomy as a framework for structuring the asset class cryptocurrencies.
• As one of the first crypto brokers, Bitcoin Suisse introduced a Best Execution Policy. Bitcoin Suisse executes orders in a way that is most advantageous for our clients.
• Launch of the new, native mobile app with a revised user interface and many new functions

• The Canton of Zug raised the transaction limit for cryptocurrency tax payments to CHF 1.5 million. The city of Lugano expanded payment options, allowing cryptocurrencies for tax invoices and municipal fees. Both the Canton of Zug and the city of Lugano utilize Bitcoin Suisse's crypto payment solution for technical execution.
• Bitcoin Suisse Research achieves official publication on Bloomberg, Refinitiv, and The Tie.
• Dr. Philipp Rösler, former Vice Chancellor of Germany, and banking expert Marco Menotti join the Bitcoin Suisse Board of Directors.

• Introducing three new order types - Smart Execution, Stop Loss, and Limit Order - on Bitcoin Suisse Online and the mobile app.
• Bitcoin Suisse expands its token offerings, including trading and custody of Arbitrum (ARB), and introduces trading, staking, and custody of the TIA token at the launch of the Celestia protocol. Staking of MATIC, the primary token of Polygon, is also introduced.
• A collaboration with Valour Inc. is established for issuing exchange-traded products (ETPs), backed 1:1 by digital assets.
• August marks the 10th anniversary of Bitcoin Suisse, proudly holding the title of Switzerland's oldest crypto broker.

• Bitcoin Suisse launches robust Application Programming Interfaces (APIs) tailored for institutional clients.
• STOXX, a leading global provider of innovative indices, enters digital assets market with the unique STOXX® Digital Asset Blue Chip Index, in partnership with Bitcoin Suisse.

• Benefiting from sustained market momentum, successful product launches, and significant contributions from clients, Bitcoin Suisse achieves the milestone of CHF 4 billion in crypto assets under custody at the close of 2023.

A glimpse into 2024

Ensure you're in the know

The upcoming Bitcoin Halving, scheduled for Monday, April 22, 2024, is poised to have a substantial impact on BTC supply and related factors. To provide a comprehensive resource for this pivotal event, Bitcoin Suisse has established a dedicated Halving Hub. Access all pertinent information with ease by subscribing to our Halving newsletter today. Receive timely updates directly in your inbox and stay ahead of developments with Bitcoin Suisse.

Podcast: Sneak peek

In the coming weeks, we will unveil our podcast "VERIFIED", offering insightful and professional analysis of the dynamic digital asset landscape. Join engaging discussions with global industry leaders as we aim to demystify complexities. Whether you are a seasoned crypto expert or just starting out, this podcast is a must-listen!

Our inaugural episode features a distinguished macroeconomist, analyst, trader, and investor from Argentina, renowned for insightful posts on Crypto Twitter. Dive into discussions on current market cycles, Bitcoin ETFs, and forecasts for 2024, making it an exciting kick-off episode. Can you guess our special guest? Stay tuned!

Ethereum Advancements

The upcoming "Dencun upgrade" introduces a long-awaited innovation—proto-danksharding—focused on enhancing future scalability. Expect reduced transaction fees and relief from network congestion. Stay tuned for the anticipation surrounding ETH spot ETF approvals, with a decision expected in May 2024. Our research team is committed to delivering insightful publications on all pertinent topics.

Products & Services

Circle x Bitcoin Suisse

Expanding USDC liquidity in Europe through partnership

Bitcoin Suisse is collaborating with Circle, the issuer of USDC, to expand USDC liquidity in Europe. Enhancements have been made to the on/off ramp speed, and USDC is now a standard trading pair for all compatible assets. We are delighted to partner with Circle to broaden the accessibility of USDC throughout Europe.

Peer-to-peer loan investments

Introducing our P2P lending landing page

Bitcoin Suisse offers its clients the opportunity to benefit from attractive fixed-income collateralized loans. Investors can purchase claims on outstanding loans with attractive yields compared to fixed-interest traditional financial products. Bitcoin Suisse oversees and safeguards the collateral while providing continuous monitoring of the loan portfolio. Learn more on our new landing page.

Company & Industry Highlights

New group CEO

Andrej Majcen succeeds Dirk Klee

Bitcoin Suisse has officially announced that Andrej Majcen, co-founder of the company, will take over as Group CEO, effective February 1, 2024, succeeding Dr. Dirk Klee. This strategic move is in response to recent shifts in the Swiss market environment. The Board of Directors has chosen Andrej Majcen to steer the company through an accelerated growth phase and international expansion.

We express our gratitude to Dirk Klee for his accomplishments and milestones achieved, extending our best wishes to Andrej Majcen for success in his new role.

Bitcoin spot ETF

Pivotal moment: SEC approves eleven Bitcoin spot ETFs

In a historic move, the SEC granted approval for the first-ever exchange-traded Bitcoin spot ETFs on January 10, 2024. This notable decision included applications from industry leaders such as BlackRock, Fidelity, 21Shares, and VanEck, marking a significant milestone for the crypto industry.

Explore our research team's comprehensive analysis and insights, including research analyst Dominic Weibel's take on the potential green light. Delve into the new fundamental "Introduction to Exchange Traded Products" or read up on the Crypto Outlook Report 2024, covering various topics, including the ETF landscape.

BILANZ Standpunkte

Chairman Luzius Meisser at BILANZ Business Talk

Our Chairman, Luzius Meisser, recently participated in the BILANZ Business Talk. Engaging with BILANZ Editor-in-Chief Dirk Schütz and other guests, Luzius Meisser explored potential scenarios for the stock market in 2024. Catch the insightful discussion, originally broadcasted on January 28, 2024, here (available in German).

Research

The Weekly Wrap

The latest news at a glance

Stay informed about developments in the world of crypto with the Weekly Wrap from Bitcoin Suisse every Friday. You can subscribe for the Weekly Wrap here.

In case you missed them, here are January’s editions:

• 5 January: A sharp leverage flush, disappointing FOMC minutes and all eyes on ETF decision next week
• 12 January: Impressive first day of trading Bitcoin spot ETFs
• 19 January: Post-ETF consolidation process
• 26 January: Crypto markets are stabilizing