UK Pension Fund Allocates 3% to Bitcoin

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Table of Content

In today edition we talk about

• Crypto-Friendly Candidates Could Shift U.S. Crypto Legislation After Elections

• Curve Finance and TON Forge Path for DeFi Growth with New Partnerships

• UK Pension Fund Allocates 3% to Bitcoin, Reflecting Rising Interest in Crypto Investments

• Crypto Funds See $2.2 Billion in Weekly Inflows Amid U.S. Election Buzz

Crypto-Friendly Candidates Could Shift U.S. Crypto Legislation After Elections

This election season, the cryptocurrency industry has invested heavily in U.S. Congressional races, aiming to bring in pro-crypto candidates. With substantial funding from companies like Ripple and Coinbase, groups like Fairshake have raised over $200 million to support candidates, especially in close races in states like Ohio and Montana. These contests could shape the regulatory landscape for crypto in 2025.

If Republicans take control of the Senate, crypto-ally Tim Scott may lead the Senate Banking Committee, with plans to establish a framework for digital asset regulation. Democrats retaining control would keep more skeptical figures, like Sherrod Brown or Elizabeth Warren, in leadership, potentially resulting in stricter regulations.

Both parties have shown interest in passing stablecoin legislation, with Republicans seen as more likely to push forward on market structures and other crypto-friendly bills. Pro-crypto candidates in both parties could also influence policies on decentralized finance (DeFi), NFTs, and staking tax laws.

Meanwhile, crypto-related prediction markets, such as Polymarket, are drawing public attention as they reflect real-time sentiment on election outcomes, with the House and Senate control still in contention.

Curve Finance and TON Forge Path for DeFi Growth with New Partnerships

The Open Network (TON) is positioning 2025 as a pivotal year for decentralized finance (DeFi) on its blockchain, beginning with a partnership with Curve Finance. Together, they hosted a competition to find innovative DeFi teams capable of developing stable asset swaps using Curve’s technology.

In its first phase, TON is setting up essential DeFi components like lending, liquidity staking, and market-maker protocols. It also plans to build bridges to major networks like BTC and EVM, expanding its ecosystem with stablecoins and other assets. Through the competition, projects Torch Finance and Crouton Finance emerged as winners, receiving $150,000 each for audits and initial liquidity for stablecoin pools. These projects will integrate with CrossCurve, a cross-chain liquidity protocol supported by Curve founder Michael Egorov.

Next steps include $500,000 in incentives for stablecoin swaps between TON and EVM networks, promoting greater liquidity across chains.

UK Pension Fund Allocates 3% to Bitcoin, Reflecting Rising Interest in Crypto Investments

A UK-based pension scheme has allocated 3% of its assets to Bitcoin, according to pension consultancy Cartwright. This decision followed extensive training and due diligence, with the fund citing Bitcoin’s potential for long-term growth to reduce its reliance on employer contributions.

This move aligns with a broader trend of global pension funds exploring crypto investments. In the UK, investment giant Legal and General is considering tokenized funds, while South Korea’s pension service and Michigan’s state retirement system have also reported crypto exposure. The UK’s Financial Conduct Authority remains the primary regulator, overseeing crypto firm compliance amidst the shifting political landscape since Labour’s recent election victory.

Crypto Funds See $2.2 Billion in Weekly Inflows Amid U.S. Election Buzz

With the U.S. presidential election approaching, cryptocurrency investment products attracted $2.2 billion in inflows last week, marking four consecutive weeks of inflows totaling over $5.7 billion, according to CoinShares. Year-to-date inflows have now reached a record $29.2 billion.

CoinShares’ head of research, James Butterfill, suggested that optimism over a potential Republican victory is partly fueling this surge, with Bitcoin being the primary beneficiary. Bitcoin-related funds saw inflows of $2.2 billion, while short-Bitcoin products received $8.9 million. Other assets, like Ether and Solana, saw more modest inflows of $9.5 million and $5.7 million, respectively.

The U.S. was the largest contributor to the market, while Canada and Sweden saw significant outflows. Analysts warn that large inflows into Bitcoin funds may be followed by price pullbacks, as has happened historically following big ETF inflows.

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