Nextbigone
2 months ago
$MATH overhang warrants terminated:
Termination of Warrants
On September 26, 2024, Metalpha Technology Holding Limited (the “Company”) entered into a deed of termination (the “Deed of Termination”) with Natural Selection Capital Holdings Limited (“Natural Selection”), an exempted company with limited liability incorporated in the Cayman Islands with Mr. Bingzhong Wang as its sole shareholder. Pursuant to the Deed of Termination, the Company and Natural Selection agreed to terminate the warrants issued to Natural Selection, which represents the right to purchase an aggregate of 14,000,000 ordinary shares, par value US$0.0001 per share of the Company (the “Warrants”).
On August 6, 2021, the Company entered into a consulting and warrant issuance agreement (the “Consulting Agreement”) with Natural Selection and Mr. Ni Ming. Pursuant to the Consulting Agreement, the Company agreed to issue Warrants to Natural Selection. Reference is made to the Consulting Agreement which was attached as Exhibit 10.2 to the Company’s report of foreign private issuer on Form 6-K furnished to the Securities and Exchange Commission on August 9, 2021.
As a result of such termination, the respective rights and obligations under the Warrants are terminated as well. For details, please refer to the Deed of Termination which is furnished herewith as Exhibit 10.1.
Leadership Transition
Mr. Bingzhong Wang, who is currently a member of the board of directors (the “Board”) and president of the Company (the “President”), has been appointed to succeed Mr. Liu Liming as chairman of the Board and the Company’s chief executive officer, effective on September 24, 2024. Upon the effectiveness of this appointment, Mr. Wang will cease to be the President, and Mr. Liu will continue to serve as a member of the Board and be appointed as the human resources director of the Company, effective on the same date.
Nextbigone
4 months ago
Metalpha Regains Compliance with Nasdaq’s Filing Requirements
(HONG KONG, July 29, 2024) -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the “Company” or “Metalpha”), a global digital asset-focused wealth management company, announced that it has received a written notification from The Nasdaq Stock Market LLC (“Nasdaq”) on July 26, 2024, which states that it has regained compliance with the filing requirements set forth under Nasdaq Listing Rule 5250(c)(2) after filing its interim balance sheet and income statement as of and for the six months ended September 30, 2023 on Form 6-K with the U.S. Securities and Exchange Commission on July 12, 2024.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (Nasdaq: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause Metalpha’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Contact
Yiwei Wang
info@metalpha.finance
Nextbigone
6 months ago
$MATH
The approval of spot Ethereum ETFs by the US Securities and Exchange Commission (SEC) carries significant implications for firms engaged in tokenizing assets that trade on-chain. Carlos Domingo, CEO of Securitize, affirmed Ethereum's regulatory status as a commodity and stated that the approval is bullish for the asset tokenization premise on the Ethereum blockchain.
Domingo highlighted the importance of institutional safety in using Ethereum, as the approval eliminates concerns about Ethereum's native token, ETH, being classified as a security. He emphasized that Ethereum is now considered safe for institutional use, further bolstering its position as a reliable platform for asset tokenization.
This is beneficial to protocols specializing in tokenizing real-world assets (RWAs), such as Ondo Finance. The project focuses on providing institutional-grade financial products and services, including tokens offering USD yield or exposure to US Treasuries. In 2022, Ondo Finance raised $20 million in a Series A funding round led by Pantera Capital and Peter Thiel's Founders Fund. Following the approval of spot Ethereum ETFs, ONDO experienced a significant surge in its governance token, ONDO, gaining 32.8% over the past week. It is currently trading at $1.23.
BlackRock CEO Larry Fink has long regarded tokenization as the next step from ETFS, envisioning reduced fees and instantaneous settlement facilitated by blockchain technology. BlackRock's strategic funding round of $47 million in tokenization firm Securitize further solidifies its commitment to the sector.
Nextbigone
7 months ago
Metalpha Granted Virtual Assets Type 1 License
2024/04/15
Content:
HONG KONG, April 15, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (NASDAQ: MATH) (the "Company" or "Metalpha"), a global digital asset-focused wealth management company, today announced that LSQ Capital Limited ("LSQ Capital"), a wholly-owned subsidiary of the Company in Hong Kong, has been granted an addition of Type 1 regulated activity to its existing license by the Securities and Futures Commission (the "SFC"), allowing it to provide securities and virtual assets dealing services. The new license offers the Company a unique advantage to continue leading the market as one of Asia's largest crypto derivatives traders.
Given the recent milestone in Hong Kong spot ETFs, Metalpha is expecting to launch a Hong Kong ETF-linked fund in the near term for qualified investors to meet the increasing market demand. The Company's GBTC-linked fund achieved approximately 330% in annualized return in the past 12 months. The Company is optimistic about Hong Kong's ambition to become a Web3 hub and is actively working on unique derivatives products and funds to better serve its global clients.
With the new license, the Company aims to expand new and innovative business offerings with a greater variety of traditional finance institutions for direct trading in securities. The granted Type 1 license enables the Company to offer professional investors a truly unique crypto experience with the Company's world's leading crypto trading services.
"We are grateful to be granted this license and it will undoubtedly help us expand business outreach and offerings. Focusing on compliance is a top priority of our business and we look forward to launching new ETF-related products in the near term to boost our product offerings," said Adrian Wang, President and Director of Metalpha Technology Holding Ltd.
Metalpha offers customized hedging solutions and crypto derivatives products to institutions. The Company is proud to be one of the largest crypto derivatives traders in Asia and works closely with financial institutions including family offices, investment funds, and crypto mining companies.
The Company is also a holder of uplifted Type 4 (advising on securities and tokens) & Type 9 (asset management) licenses by the SFC.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Safe Harbor Statement
Nextbigone
7 months ago
$MATH Hong Kong approved the applications of several spot bitcoin and ether exchange-traded funds on Monday, as the region continues its drive to become a regional crypto hub.
China Asset Management, a major Chinese asset manager, said that its Hong Kong unit has received approval in principle from the Hong Kong Securities and Futures Commission to offer retail asset management services related to spot crypto ETFs. It plans to issue spot bitcoin and ether ETFs in collaboration with OSL and BOCI International. OSL said it will act as the "first virtual asset trading and sub-custodian partner" of China Asset Management for the upcoming ETFs.
Harvest Global Investments’ two spot crypto ETFs have also received in-principle approval from the SFC, the firm said in a statement. It added that the two ETFs will be issued in collaboration with OSL, which could effectively address issues such as excessively high margin requirements. "In this collaboration, OSL leverages its robust infrastructure to provide a secure trading environment essential for the ETF's operation, managing the underlying assets with precision and reliability," OSL said in a statement.
Bosera Asset Management, a Hong Kong unit of a major Chinese asset manager, and HashKey Capital also told The Block on Monday that the regulator has given conditional approval for two spot crypto ETFs jointly managed by the pair. The pair did not immediately clarify what "conditional approval" entails.
Bosera and HashKey told The Block that the pair will work together to launch a spot bitcoin ETF, the Bosera HashKey Bitcoin ETF, and a spot ether ETF, the Bosera HashKey Ether ETF. The two ETFs are expected to allow investors to subscribe for ETF shares using bitcoin and ether directly. They did not disclose the timeline of the launch.
"The introduction of the Virtual Asset Spot ETFs not only provides investors with new asset allocation opportunities but also reinforces Hong Kong's status as an international financial center and a hub for virtual assets,” Bosera said in a statement.
Unlike its neighboring Chinese mainland’s broader crackdown on cryptocurrency trading and mining, Hong Kong has rolled out the welcome mat for crypto firms last year. In June 2023, Hong Kong officially started its crypto licensing regime for crypto trading platforms, allowing licensed exchanges to offer retail trading services. Hong Kong has granted licenses to two platforms — HashKey and OSL.
The SFC did not immediately respond to The Block's request for further comment.
Ether ETFs
Adrian Wang, chief executive officer of Asia-based digital asset management firm Metalpha, told The Block that the upcoming spot ether ETFs could gain much traction.
“I think ETH ETF could be more influential and important compared to that of bitcoin, as investors have options to gain bitcoin exposure with bitcoin-related stocks like mining companies, but there are no ETH-related stocks as of now,” said Wang.
"Hong Kong's approval of the spot Ether ETFs comes ahead of a US decision, and is a significant milestone in Hong Kong's journey to become a leading crypto hub," said Angela Ang, a former regulator at the Monetary Authority of Singapore and senior policy advisor at blockchain intelligence firm TRM Labs. "With fewer alternatives for Ethereum exposure, we might see the Ether ETFs attract more investor interest."
(Updates: Added comments from Wang and Ang, as well as more details about the upcoming ETFs.)
Nextbigone
7 months ago
Metalpha Technology Holding Limited, a Hong Kong-based digital asset-focused wealth management company, together with global chips provider Algos Electronics Corp., have established NOWLIT FinTech Solutions Corp.
This strategic partnership paves the way for the company to establish its crypto business presence in the North American market with goals of expanding the company’s market reach by accessing newly explored local market opportunities, fully compliant with local regulations, the duo said in a statement on Tuesday.
Headquartered in Canada, NOWLIT FinTech Solutions focuses on blockchain fintech advisory and research.
Backed by both Metalpha and Algos Electronics, the newly established company will be guided by both companies’ extensive experience and geographic footprint in crypto
wealth management services and client networks.
As the company’s joint venture partner, Algos Electronics focuses on the design, manufacture, and distribution of ASIC and data center equipment and is a trusted solutions provider in both the United States and Canada.
Metalpha offers customized hedging solutions and crypto derivatives products to institutions.
The company is proud to be one of the largest crypto derivatives traders in Asia and works closely with financial institutions including family offices, investment funds, and crypto mining companies.
The strategic partnership comes at a time when the Company is actively building global market outreach and more diverse business offerings.
“Having Metalpha as our strategic stakeholder serves as a great boost to our business strategy and confidence in North America,
“We look forward to building and developing our market expertise in blockchain finance closely together,” said Marc MA, Chief Executive Officer of NOWLIT FinTech Solutions Corp.
According to the statement, Metalpha, along with Algos Electronics, aims to work closely with NOWLIT FinTech Solutions to develop localized business offerings and market expertise.
“We look forward to building our business presence in North America with great partners such as Algos Electronics,
“We believe the creation of NOWLIT FinTech Solutions will help us capture more business opportunities together,” said Adrian Wang, President and Director of Metalpha.
Founded in 2015, Metalpha went public on October 20, 2017. The listed company is providing investing and wealth management services with a full-service, institutional-grade platform.
With dedicated blockchain expertise, the company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Algos Electronics is a firm focuses on ASIC chip and final product design, manufacture, and distribution in both United States and Canada
Nextbigone
9 months ago
Metalpha Technology Holding Limited (Nasdaq: MATH), a frontrunner in the digital asset-based wealth management sector, has published its financial outcomes for the fiscal year ended March 31, 2023.
The company announced a notable increase in the notional amount of derivative products issued, reaching $382 million, up from $49 million the previous year, underlining a significant surge in its wealth management business, according to an announcement today.
Despite the financial hurdles, Metalpha showcased a remarkable fiscal-year income of $5.7 million from its wealth management operations, a substantial rise from just $0.1 million in FY 2022. This growth is attributed to the company's innovative approach in designing and issuing derivative products tailored for the cryptocurrency market, catering to the needs of institutions and professional investors.
However, the company faced financial challenges, reporting a total net loss of $20.4 million for the year. This loss was mainly due to expenses related to warrant issuance, share-based payments, and a one-off discontinued business, Metalpha said. Adjusting for these factors, the company's loss was approximately $0.7 million, indicating a near breakeven scenario.
Adrian Wang, president of Metalpha, expressed optimism about the company's future, citing strong demand for customized products and high customer satisfaction. "The fast growth of our wealth management business indicates the market’s confidence in our business approach," Wang stated. He also highlighted the company's commitment to compliance and innovation, aiming to expand its market share in Asia and beyond.
Founded in 2015 and going public in 2017, Metalpha has positioned itself as a leader in crypto wealth management services, offering a full-service, institutional-grade platform with dedicated blockchain expertise.
"At the company level, we aim to maintain a high growth rate and significantly lower expenses as our business scale expands. We will also continue to innovate and diversify our business offerings in a bid to expand our market share in Asia,” Wang said.
Metalpha holds a Type 4 and Type 9 license from the Securities and Futures Commission of Hong Kong. Earlier this year, the firm announced an investment in NextGen Digital Venture Limited to strengthen institutional access to digital assets. The two sides launched the Next Generation Fund I in April 2023, focusing on Grayscale Investments's suite of products.
Nextbigone
9 months ago
HONG KONG, Feb. 15, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global digital asset-based wealth management company, announced financial results for the fiscal year ended March 31, 2023 (the "FY 2023"). The Company reported the notional amount of derivative products issued of $382 million under its wealth management business arm, which generated fiscal-year income of $5.7 million. The adjusted loss of the Company in FY 2023 was about $0.7 million.
The Company recorded strong year-over-year growth driven by its wealth management business, a key pillar of its operations and revenue model. The Company designs and issues derivative products for institutions and professional investors and recognizes the fair value change of (i) trading of digital assets and derivative contracts and (ii) investment in trusts as income from our wealth management business.
Metalpha prides itself on being one of the world's largest digital asset-based derivative trading firms. The notional amount of derivative products issued in FY 2023 was $382 million compared to only $49 million in the fiscal year ended March 31, 2022 (the "FY 2022"). The income from the wealth management business jumped from $0.1 million in FY 2022 to $5.7 million in FY 2023.
Metalpha aims to provide qualified investors with high-quality product design and trading capabilities and is committed to delivering structured derivative products to cryptocurrency market participants.
"We are pleased to see strong demand for customized products and earn high customer satisfaction. The fast growth of our wealth management business indicates the market's confidence in our business approach. We strive to design products and services with compliance at the core. In the new year, we are confident about the improving market conditions which could lead to stronger demand for our derivative product subscriptions.
At the company level, we aim to maintain a high growth rate and significantly lower expenses as our business scale expands. We will also continue to innovate and diversify our business offerings in a bid to expand our market share in Asia," said Adrian Wang, President of Metalpha.
FINANCIAL HIGHLIGHTS
Notional Amount of Derivative Products Issued
FY 2022
FY 2023
Notional Amount of Derivative Product Issued
49 million
382 million
Income from Wealth Management Business
FY 2022
FY 2023
Income from Wealth Management Business
0.1 million
5.7 million
Adjusted Loss to the Company
FY 2022
FY 2023
Loss of the Year
(14,428,033)
(20,167,351)
Add: Equity-settled share-based payments under share award scheme
1,468,800
1,045,315
Add: Share purchase warrants expenses
6,063,086
10,176,995
Add: Total loss from discontinued operation
3,193,385
8,248,013
Adjusted Loss
(3,702,762)
(697,028)
The Company filed its annual report on Form 20-F for the FY 2023 (the "2023 Annual Report") with the U.S. Securities and Exchange Commission on February 12, 2024. The 2023 Annual Report included audited financial statements for the FY 2023. The 2023 Annual Report is available online at www.sec.gov.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Nextbigone
10 months ago
$MATH insider acquired more shares
In December 2023, the Reporting Person exercised the Consulting Warrants to purchase an aggregate of 2,000,000 Ordinary Shares. On January 11, 2024, the Issuer issued 600,000 Ordinary Shares to the Reporting Person, and the other 1,400,000 Ordinary Shares to unrelated third parties designated by the Reporting Person.
36,948,371 Ordinary Shares outstanding as of January 11, 2024, which information was provided by the Issuer to the Reporting Person (as defined below). In computing the percentage ownership of the Reporting Person, Ordinary Shares that the Reporting Person has the right to acquire within 60 days after January 11, 2024, including through the exercise of any option, warrant, or other right or the conversion of any other security, are included.
Nextbigone
10 months ago
$MATH made right bet on GBTC product as U.S. spot BTC ETFs go live today. After great anticipation and over 10 years and numerous rejections since the first spot BTC ETF application was filed on July 1, 2013, by the Winklevoss twins, the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange traded funds (ETFs) yesterday (1/10), which are to begin trading on major U.S. exchanges today (1/11), in what we view as a significant milestone in Bitcoin’s 15-year history. ARK/21Shares, Bitwise, BlackRock (BLK; not rated), Fidelity, Franklin (BEN; not rated), Grayscale, Hashdex, Invesco (IVZ; not rated), Valkyrie, VanEck, and WisdomTree all received the green light from the SEC to issue spot BTC ETFs. The issuers entered a bit of a pricing war leading up to the SEC’s approval yesterday and will be launching their respective products at very attractive fees, as we see it, which should help to drive initial inflows, especially for those that are offering fee wavers for the first six months. The average fee for the 11 ETFs is 46 bps, with pricing ranging from 20 bps (Bitwise) to 150 bps (Grayscale). While Grayscale’s product has the highest fee, it starts the race with a significant head start holding 3.16% of all BTC currently in circulation, which equates to $29.4B in AUM, in its Bitcoin trust - GBTC, which is to be up-listed to a spot BTC ETF today. BTC rose as much as 3% to ~$47,600 following the news.
Nextbigone
11 months ago
Metalpha Invests in NextGen Digital Venture Limited, Strengthening Institutional Investor Access to Digital Assets
NEWS PROVIDED BY
Metalpha Technology Holding Limited
08 Jan, 2024, 11:00 CST
HONG KONG, Jan. 8, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global crypto-based wealth management company, has invested in NextGen Digital Venture Limited ("NextGen"), strengthening the existing business partnership that provides institutional investors compliant investment channels for exposure to digital assets.
In April 2023, Metalpha joined forces with NextGen to launch Next Generation Fund I (the "NextGen Fund"), a structured investment channel focusing on Grayscale Investments LLC's suite of products. Since then, the fund has outperformed Bitcoin's annualized return by more than 35% as of Dec.31, 2023, and consequently gained wide recognition from investors in both traditional finance and digital assets space.
Metalpha provides bespoke hedging solutions and is one of Asia's largest crypto derivatives solutions providers. The Company works closely with traditional financial institutions including family offices, investment funds, and crypto mining companies. The investment comes at a time when the Company is optimistic about the future performance of the NextGen Fund, and the investment announced today will provide NextGen with additional management support.
"Working with the brilliant team at NextGen has been delightful. The launch of the NextGen Fund marked the first step by both sides to roll out compliant yet rewarding products together. We look forward to building a more robust partnership going forward," said Adrian Wang, President and Director of Metalpha Technology Holding Ltd.
"We extend our sincere gratitude to Metalpha for their pivotal partnership, which has been instrumental in meeting the sophisticated demands of institutional cryptocurrency wealth management. Leveraging Hong Kong Type 9 license, NextGen is committed to providing secure and compliant cryptocurrency investment opportunities, with a steadfast focus on achieving alpha returns," said Jason Huang, Founding Partner of NextGen Digital Venture Limited.
As a holder of Type 4 (advising on securities) and Type 9 (asset management) licenses, the Company has recently obtained an uplift to its existing Type 4 license from the Securities and Futures Commission of Hong Kong.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
About NextGen Digital Venture Limited
Founded in 2023, NextGen Digital Venture aims to be the premier platform in Asia for providing traditional finance with exposure to cryptocurrencies. NDV's goal is to connect traditional capital with emerging technologies that are on the verge of widespread adoption. NDV team comprises experienced professionals from leading investment firms, top-tier family offices, and successful tech startups, reflecting our unwavering commitment to delivering reliable and trustworthy financial solutions to clients.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Metalpha's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Contact
Yiwei Wang
info@metalpha.finance
SOURCE Metalpha Technology Holding Limited
Nextbigone
11 months ago
$MATH Crypto wealth manager Metalpha picks up stake in NextGen
Hong Kong-based crypto wealth management firm Metalpha Technology has invested in NextGen Digital Venture.
The investment strengthens an existing partnership that offers institutional investors compliant investment channels for exposure to digital assets.
The new investment enables Metalpha to provide NextGen Digital Venture with additional management support, said Metalpha in a statement on Monday.
The deal is built on an existing partnership between the two companies that saw them jointly launch the Next Generation Fund I, or the ‘NextGen Fund I’, in April 2023 to focus on the suite of products offered by the US digital currency asset manager Grayscale Investments.
Metalpha, through its wholly-owned subsidiary LSQ Capital, serves as the sub-investment manager of NextGen Fund I and plays a key role in the fund operations and decision-making.
The move to invest in NextGen Digital Venture makes Metalpha a shareholder of the firm, Metalpha confirmed to DealStreetAsia in an email, but it declined to disclose the financial details of the investment.
NextGen Digital Venture, which offers crypto-related investment services to traditional investors, was founded in 2023 by Jason Huang, who previously held positions at Blue Pool Capital, the family office of Alibaba Group co-founder Joseph Tsai, as well as venture capital (VC) firms Joy Capital and Qiming Venture Partners.
The NextGen Fund I invests both directly and indirectly through structured derivatives into Grayscale’s investment products. The vehicle had a target of raising $100 million, Metalpha’s president Adrian Wang told DealStreetAsia in April 2023.
Nextbigone
11 months ago
$MATH CEO commented
Digital asset licensing has opened up opportunities to create powerhouse Hong Kong-based crypto companies. At Metalpha, we recently obtained an uplift on our Type 4 license (advising on securities). This will enable us to expand our efforts in advisory and issuing analysis, and allow us to publish reports to qualified investors on digital assets. This is a milestone for us and it further shows SFC’s confidence in our business approach.
In fact, since the start of this year, we have observed strong demand from family offices and public companies asking how to invest in Bitcoin in a compliant way. Smart investors who see through the noise and beyond the negative headlines are being rewarded with clear opportunities to grow and benefit from crypto and Web3. I believe more companies will apply for licenses to attract investment, boost their business credibility, and pursue new opportunities as a result.
A recent story reported by the Financial Times shows that Hong Kong is projected to overtake Switzerland as the world’s leading cross-border wealth management as Asia spearheads the growth. This massive global wealth shift presents a great opportunity for investors eyeing digital assets. As regulations become clearer for the digital assets industry in the coming years, Hong Kong will stand out as a city that offers a balanced approach to innovation and risk assessment.
Looking forward to the new year, I am confident that Hong Kong will keep playing a key role in building the Web3 hub and enter further direct competition with Singapore, which had an early mover advantage in crypto. And this is a good thing. Investors should have more options to choose the best crypto projects or companies to work with. As for customers, it will boost confidence once they know their service provider is secure and compliant in the eyes of regulators.
Nextbigone
11 months ago
CEO of Grayscale Investments, Michael Sonnenshein, told CNBC this week, a spot Bitcoin ETF could "unlock" around "$30 trillion worth of advised wealth."
"When we look ahead to the hopeful approval for spot Bitcoin ETFs, it really is going to unlock the opportunity to a part of the investment community that for better or worse has been locked out for the opportunity to participate in having Bitcoin exposure in their portfolio," Sonnenshein said.
"We're really taking about the advised market here in the US. Which is today, about $30 trillion worth of advised wealth that we hope the approval of spot Bitcoin ETFs, the up-listing of GBTC, will allow for that opportunity and for those investors to partake in it as well."
Nextbigone
11 months ago
$MATH Private block trade@$1.50 for 600,000MATH
PURCHASE AND SALE OF THE SALE SHARES
Section 1.1 Purchase of the Sale Shares. Subject to and upon the terms and conditions of this Agreement, at the Closing (as defined below), Seller hereby agrees to sell to Purchaser, and Purchaser hereby agrees to purchase from Seller, the Sale Shares (as defined below) (the “Share Purchase”).
Section 1.2 Purchase Price for Sale Shares.
(a) The purchase price per Ordinary Share for the Sale Shares (the “Per Share Purchase Price”) shall be US$1.50, and the aggregate purchase price for the Sale Shares (the “Purchase Price”) shall be equal to the number of Sale Shares (as defined below) multiplied by the Per Share Purchase Price.
(b) The Purchase Price shall be payable at the Closing to Seller by wire transfer in immediately available funds to the account designated by Seller in writing prior to the Closing.
Section 1.3 Sale Shares And Number of Sale Shares. At the Closing, the Seller shall deliver six hundred thousand (600,000) Ordinary Shares to Purchaser (collectively, the “Sale Shares”).
Nextbigone
11 months ago
$MATH SCHEDULE 13G
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
(Rule 13d-102)
Information to be Included in Statements Filed
Pursuant to § 240.13d- 1(b), (c) and (d) and
Amendments Thereto Filed
Pursuant to § 240.13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )*
Metalpha Technology Holding Limited
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
G28365 107
(CUSIP Number)
December 14, 2023
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
? Rule 13d-1(b)
? Rule 13d-1(c)
? Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. G28365107 Schedule 13G Page 2 of 5
1.
Names of Reporting Persons:
Xianqun Hu
2.
Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) ?
(b) ?
3.
SEC Use Only
4.
Citizenship or Place of Organization:
People’s Republic of China
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person with 5. Sole Voting Power
3,340,000 Ordinary Shares*
6. Shared Voting Power
0
7. Sole Dispositive Power
3,340,000 Ordinary Shares*
8. Shared Dispositive Power
0
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
3,340,000 Ordinary Shares*
10.
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions).
?
11. Percent of Class Represented by Amount in Row (9):
8.8%**
12. Type of Reporting Person (See Instructions):
IN
* Represents (i) 520,000 Ordinary Shares (as defined below), (ii) 900,000 Ordinary Shares issuable upon exercise of the warrants pursuant to a consulting and warrant issuance agreement dated October 27, 2021 among the Issuer (as defined below), the Reporting Person (as defined below) and three other consultants and (iii) 1,920,000 Ordinary Shares issuable upon exercise of the warrants pursuant to a securities subscription and warrant purchase agreement dated June 30, 2022 among the Reporting person, the Issuer and certain other parties.
** Percentage of class based on 34,948,371 Ordinary Shares outstanding as of December 14, 2023, which information was provided by the Issuer to the Reporting Person. In computing the percentage ownership of the Reporting Person, Ordinary Shares that the Reporting Person has the right to acquire within 60 days after December 14, 2023, including through the exercise of any option, warrant, or other right or the conversion of any other security, are included.
CUSIP No. G28365107 Schedule 13G Page 3 of 5
ITEM 1. (a) Name of Issuer:
Metalpha Technology Holding Limited (the “Issuer”).
(b) Address of Issuer’s Principal Executive Offices:
Suite 1508, Central Plaza 18 Harbour Road, Wan Chai, Hong Kong, the People’s Republic of China.
ITEM 2. (a) Name of Person Filing:
This Schedule 13G is filed by Mr. Xianqun Hu (the “Reporting Person”) and amends the Schedule 13D originally filed by the Reporting Person on February 14, 2023, as amended by the Amendment No. 1 filed on June 7, 2023.
(b) Residence:
The residential address of the Reporting Person is Room 602 Tower 4, Langshi Green Jiequ Huijing Rd, Yuhuatai District, Nanjing, the People’s Republic of China.
(c) Citizenship of the Reporting Person:
The Reporting Person is a citizen of the Peoples’ Republic of China.
(d) Title of Class of Securities:
Ordinary Shares, par value $0.0001 per share (the “Ordinary Shares”).
(e) CUSIP Number:
G28365 107
ITEM 3. If this statement is filed pursuant to 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:
Not applicable.
ITEM 4. Ownership.
(a)-(c)
The ownership information presented below represents beneficial ownership of the Ordinary Shares as of December 14, 2023, based upon 34,948,371 Ordinary Shares outstanding as of December 14, 2023, as provided by the Issuer.
Reporting Person Amount beneficially owned Percent of Class Sole Power to vote or to direct the vote Shared power to vote or to direct the vote Sole power to dispose or to direct the disposition of Shared power to dispose or to direct the disposition of
Xianqun Hu 3,340,000 8.8 % 3,340,000 0 3,340,000 0
Nextbigone
11 months ago
HONG KONG, Dec. 18, 2023 /PRNewswire/ -- Metalpha Technology Holding Limited (NASDAQ: MATH) (the "Company" or "Metalpha"), a global digital asset-based wealth management company, today announced that LSQ Capital Limited ("LSQ Capital"), a wholly-owned subsidiary of the Company in Hong Kong, successfully obtained an uplift to its existing Type 4 license from the Securities and Futures Commission of Hong Kong (the "SFC").
As a holder of Type 4 (advising on securities) and Type 9 (asset management) licenses, LSQ Capital provides securities advising and management services to customers in Hong Kong. To better serve the growing demand for digital asset-based wealth management services from institutions in Hong Kong, Metalpha and LSQ Capital have been actively working with the SFC on the Type 4 license uplift. With the uplifted Type 4 license, in addition to offering securities advising services, LSQ Capital is now able to issue analysis and reports on virtual assets to qualified investors.
"We value the importance of compliance in our day-to-day business and we greatly appreciate the SFC's confidence in our business approach. With the new uplift in Type 4 license, we hope to offer more robust advisory services to qualified investors and institutional clients and achieve greater business success together," said Adrian Wang, President and Director of Metalpha Technology Holding Limited.
With this development, the Company will continue to focus on providing institutional clients cutting edge crypto derivatives products and bespoke hedging solutions.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Metalpha's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.
Cision
Cision
View original content:https://www.prnewswire.com/apac/news-releases/metalpha-announces-official-uplift-of-type-4-license-302015394.html
SOURCE Metalpha Technology Holding Limited
Nextbigone
11 months ago
$MATH is direct competitor to Matrixport
$B+ valuation play
Bitcoin and crypto may soon see another mass wave of adoption by United States-based firms after a new accounting rule change that lets companies more accurately reflect the value of their crypto holdings.
Cory Klippsten, the CEO of Bitcoin-only exchange Swan Bitcoin, told Cointelegraph that Bitcoin-holding companies like MicroStrategy and Tesla, which both had to report impairment on their holdings, “can now more accurately reflect their Bitcoin investments’ true value.”
“This change is crucial for a broad range of companies, not just those primarily focused on Bitcoin, encouraging more mainstream corporate adoption.”
The new Financial Accounting Standards Board (FASB) rules released on Dec. 13 that come into effect in December 2024 see the estimated market value of crypto held by companies represented accurately on companies’ accounting books by allowing them to record when they’re holding assets at a gain.
Previously, crypto held by companies was subject to impairment only when the value of crypto decreased on the books, which could not be increased until sold, even if its value increased while being held.
Klippsten added that companies could now use Bitcoin as a “strategic financial asset,” as they would be able to report on their value gains and losses, a feature that could help drive adoption.
Matrixport research head and Crypto Titans author Markus Thielen told Cointelegraph that the rule change “underscores the palpable corporate demand” for incorporating crypto into a firm’s accounting.
“Digital assets are increasingly becoming a crucial component of financial statements,” said Thielen, adding that companies will now have more confidence when valuing their crypto holdings.
“This signals a resounding confirmation that digital assets have firmly established themselves in the financial landscape.”
Others were also excited by the rule change. David Marcus, co-creator of Facebook’s binned stablecoin project Diem, posted to X (formerly Twitter) on Dec. 13, saying the new rules are “actually a big deal,” which remove “a large obstacle standing in the way of corporations holding Bitcoin on their balance sheet.”
In a Sept. 6 note following the FASB’s approval of the rules, Berenberg Capital’s senior equity research analyst Mark Palmer said crypto-holding companies could “eliminate the poor optics that have been created by impairment losses under the rules that the FASB has had in place.”
Nextbigone
1 year ago
Huge win Re: BTC Do the MATH following
BLACKROCK: Lists Bitcoin Spot ETF
The iShares spot Bitcoin ETF, put forth by the investment company BlackRock, has been registered with the Depository Trust & Clearing Corporation (DTCC). This indicates a possible green light from the United States Securities and Exchange Commission in the near future. BlackRock uses the ticker symbol IBTC, which matches its branding for the rest of its ETFs. This is the first Bitcoin spot ETF listed on the DTCC and is a significant first step to a possible listing. BlackRock is leading the charge on the crucial first steps when listing a new ETF.
Source: CoinGape
Eric Balchunas has been leading the possible Bitcoin spot ETF approval coverage. Balchunas has said that BlackRock may have already received the green light for listing the ETF from the SEC, which has sent the price of Bitcoin surging. There is tons of speculation that multiple ETFs will be included at once, which include Ark Invest, Valkyrie, Gemini, Fidelity, and Grayscale.
Nextbigone
1 year ago
MATH management team vision validated by court ruling GBTC news. New highs coming@$math
Grayscale Investments’ recent court ruling in favor of launching the first-ever Bitcoin ETF in the U.S. is a watershed moment for the cryptocurrency ecosystem.
Coinbase experienced a 14% upswing while Grayscale Bitcoin Trust saw an impressive 18% rise.
The sanctioning of a Bitcoin ETF introduces a regulated avenue for substantial institutional capital inflows into the Bitcoin space.
Crypto currency Bitcoin E-commerce concept on digital Screen
da-kuk
Executive Summary:
Grayscale Investments’ recent court ruling in favor of launching the first-ever Bitcoin ETF in the U.S. is a watershed moment for the cryptocurrency ecosystem. Beyond the immediate market reaction, this event points towards a maturing regulatory environment and sets a potential precedent for the broader adoption of crypto-focused financial products.
Regulatory Inconsistencies:
Upon news of the court’s decision, we observed a noticeable surge in market sentiment. Notably, Coinbase (COIN) experienced a 14% upswing while Grayscale Bitcoin Trust (OTC:GBTC) saw an impressive 18% rise. The event underscores the interconnectedness of the crypto landscape and the cascading impact of significant regulatory changes.
A significant backdrop to this case is the Securities and Exchange Commission’s (SEC) seemingly incongruent approach to crypto products. Their prior approval of two Bitcoin futures ETPs versus their denial of Grayscale’s Bitcoin ETP posed questions that the appellate court felt compelled to address.
Institutional Implications:
The sanctioning of a Bitcoin ETF introduces a regulated avenue for substantial institutional capital inflows into the Bitcoin space. Previously reticent entities such as pension funds and mutual funds now possess a potentially less volatile and regulatory-friendly mechanism to access crypto exposure.
For crypto exchanges, the ETF ruling is not merely an affirmation of Grayscale’s proposition but an endorsement of the broader crypto ecosystem. Platforms like Coinbase could benefit from heightened trading volumes and a surge in new user registrations. Additionally, for $GBTC, this might present a unique opportunity to narrow the persistent discount to its net asset value (NAV).
Grayscale’s triumph could very well be the clarion call for other financial giants to initiate their Bitcoin ETF offerings, ushering in an era of competitive products tailored for diverse investor needs.
The ruling underscores the urgency for transparent and standardized regulatory guidelines in the crypto realm. While the U.S. market is pivotal, its regulatory decisions often ripple across global jurisdictions. An open acceptance of crypto ETFs in the U.S. might expedite similar initiatives in other major markets.
Closing Thoughts:
Grayscale’s legal victory is emblematic of the evolving intersections of finance, technology, and regulation. While the immediate market euphoria might wane, the long-term implications for the institutional adoption and acceptance of cryptocurrencies are profound. Investors, both retail and institutional, would be wise to monitor these developments and adjust strategies accordingly in what promises to be an exciting phase for the crypto asset class.
Disclaimer: This note is for informational purposes only and does not constitute financial advice. Investors should conduct their due diligence and consult with their financial advisors before making investment decisions.
Invest-in-America
2 years ago
MATH: Loaded this little Hong Kong Puppy couple days ago. Their CEO looks like he's at most 15-years-old!! (HA-HA!!) Could be the proverbial 'Sleeping Giant' here, Peeps --- perhaps, the next @HKD??? Although their recent PR claims they do NOT service the China Mainland, nevertheless, they want to Rule-The-World behind providing CRYPTO-related everything to UPSCALE Folks, Institutions, Banks, inter alia, throughout the COSMOS!! (HA-HA!!) In any event, my TWO 'Personal Financial Planners' --- see below --- shot me a 'heads-up' on MATH a few days ago.
https://www.globenewswire.com/news-release/2023/01/17/2589528/0/en/Metalpha-Technology-Holding-Limited-to-Expand-its-Presence-in-Digital-Asset-Wealth-Management.html
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