Copper recap | September'24

In September, the market showcased remarkable strength, with Bitcoin (BTC) achieving its best September performance in over a decade, closing the month at a little above the  $63k mark—an impressive 7.3% gain. This positive trend defied the historical pattern of September being a bearish month for cryptocurrencies, as Bitcoin’s market cap exceeded $1.2 trillion and daily trading volumes averaged $32.4 billion.

While Bitcoin thrived, Ethereum (ETH) underperformed relative to BTC, with the ETH/BTC pair hitting a three-and-a-half-year low in mid-September. The market also saw a recovery in institutional demand, contributing to the overall positive momentum. Regulatory developments played a significant role in shaping market sentiment; the UK introduced the Property Bill to clarify the legal status of digital assets, Nigeria granted licenses to two crypto exchanges, and Binance received regulatory approval in Kazakhstan.

Analysts expressed optimism for Uptober driven by factors such as global monetary easing and a weakening U.S. dollar. Despite geopolitics weighing in recently, Bitcoin has still managed to trade above the $60k mark. Overall, September marked a period of maturation for the cryptocurrency market, characterized by increased stability and growing institutional acceptance as it entered the final quarter of 2024.

Product updates snapshot

ClearLoop

Copper’s off-exchange settlement solution continues to thrive, safeguarding client assets, and mitigating risk. We look forward to further integrations and unveiling new collaborations in the coming months.

Key product updates

Our Product and Engineering teams have been hard at work to grow and improve our existing product suite, adding support for new networks, tokens, staking features and UI upgrades.

Copper partners with CoinDesk Indices

Copper offers custody services for all cryptocurrencies included in the CoinDesk 20 Index. Read more →

New tokens added

We have added custody support for a range of new tokens, further expanding our custodial offering and trading options via Walled Garden. View the full list →

To see the full details of all of Copper’s listed digital assets, see our platform connectivity hub →

Recent news

Protect USDe margin collateral through ClearLoop

Through Copper’s ClearLoop, institutional holders can deploy USDe balances instantly to the exchange, whilst they remain secure within Copper’s MPC custody infrastructure. The USDe synthetic dollar will earn rewards from Bybit of up to 10% APR. Read more →

Summer interns of 2024

Our recent cohort of interns reflect on the time spent at Copper as their summer programme came to an end.  Read more →

Opening bell

Prepare for the week ahead, with 'The Opening bell’ a weekly report, crafted by our Research Team, providing a concise yet comprehensive overview of the latest data trends and analyses. Subscribe on LinkedIn.  Read more →

CopperCasts 

The latest insightful episode of CopperCasts features Benjamin Santos-Stephens, CEO at ClearToken, on the topic 'Reality check on tokenization and blockchain-based assets'.  Stream episode in full →

Regional updates

APAC

Korean Blockchain Week 2024

Our Head of Revenue APAC, Takatoshi Shibayama addressed the growing need in shifting regulatory perspective to foster institutional capital inflows into the Korean crypto market. Read more →

Token2049 

Ben Lorente, Head of Strategic Partnerships, on stage at Stakepoint in Singapore showcasing how Copper continues to transform the institutional digital assets landscape by helping clients optimise asset performance and maximise staking rewards. Read more →

AMERICAS

Crypto Investor Day

Copper are sponsors of Crypto Investor Day. Reflexivity Research are hosting the inaugural event with top-tier speakers to bridge the power of traditional finance with the innovation of crypto set for Friday, October 25th in NYC. Read more →

Digital asset roundtable for institutional investors

During the roundtable in Geneva, panelists highlighted the rapid evolution of the digital asset ecosystem, noting the emergence of opportunities for innovative investment strategies. Read more →

Kraken and Copper

We hosted a networking reception at Copper HQ alongside our newest exchange partner Kraken to mark the launch of our multilateral trading partnership and integration. Read more →

Disclaimer.

THE INFORMATION CONTAINED WITHIN THIS COMMUNICATION IS FOR INSTITUTIONAL CLIENTS AND PROFESSIONAL AND SOPHISTICATED MARKET PARTICIPANTS ONLY. THE VALUE OF DIGITAL ASSETS MAY GO DOWN AND YOUR CAPITAL AND ASSETS MAY BE AT RISK.

Copper Markets (Switzerland) AG (“Copper”) provides various digital assets services (“Crypto Asset Service”) to professional and institutional clients in accordance with the Swiss Federal Act on Financial Services (FinSa) of 15 June 2018 as amended and restated from time to time. This material has been prepared for informational purposes only without regard to any individual investment objectives, financial situation, or means, and Copper is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. Certain transactions, including those in digital assets, give rise to substantial risk and are not suitable for all investors. Although this material is based upon information that Copper considers reliable, Copper does not represent that this material is accurate, current, or complete and it should not be relied upon as such. Copper expressly disclaims any implied warranty for the use or the results of the use of the services with respect to their correctness, quality, accuracy, completeness, reliability, performance, timeliness, or continued availability. The fact that Copper has made the data and services available to you constitutes neither a recommendation that you enter into a particular transaction nor a representation that any product described herein is suitable or appropriate for you. Many of the products described involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and have independently determined that such transactions are appropriate for you. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned. You should neither construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice nor make this service the primary basis for any investment decisions made by or on behalf of you, your accountants, or your managed or fiduciary accounts, and you may want to consult your business advisor, attorney, and tax and accounting advisors concerning any contemplated transactions. Digital assets are considered very high risk, speculative investments and the value of digital assets can be extremely volatile. A sophisticated, technical knowledge may be needed to fully understand the characteristics of, and the risk associated with, particular digital assets. Copper is a member of the Financial Services Standard Association (VQF), a self-regulatory organization for anti-money laundering purposes (SRO) pursuant to the Swiss Federal Act on Combating Money Laundering and Terrorist Financing (AMLA) of 10 October 1997 as amended. Business conducted by us in connection with the Crypto Asset Service is not covered by the Swiss depositor protection scheme (Einlagensicherung) or the Financial Services Compensation Scheme and you will not be eligible to refer any complaint relating to the Crypto Asset Service to the Swiss Banking Ombudsman. It is your responsibility to comply with any rules and regulations applicable to you in your country of residence, incorporation, or registered office and/or country from which you access the Crypto Asset Service, as applicable.