Итальянский UniCredit начал предлагать биткоин-ETF от BlackRock

cryptonews.ruPubblicato 2025-05-02Pubblicato ultima volta 2025-07-02

Второй по величине банк Италии запустил новый продукт, привязанный к популярному биткоин-фонду iShares Bitcoin Trust ETF (IBIT) компании BlackRock. Как сообщает издание Bloomberg, пятилетний инвестиционный сертификат в долларах, который обеспечит 100%-ную защиту капитала, пока доступен только для квалифицированных клиентов.

По данным UniCredit, предложение, которое будет действовать с 1 по 28 июля, предусматривает полную защиту капитала по истечении срока действия, что важно для организаций, не склонных к риску. В отличие от спекулятивных криптовалютных продуктов, эта структурированная облигация «призвана обеспечить инвесторам рост биткоина без прямого воздействия его печально известной волатильности».

С момента запуска спотовых биткоин-ETF в начале прошлого года слияние традиционных финансов и цифровых активов постепенно ускорялось. Спотовый биткоин-ETF от BlackRock на сегодняшний день является самым успешным финансовым продуктом, связанным с криптовалютой, если судить по инвестиционному капиталу. По данным The Block Data Dashboard, под управлением фонда IBIT компании находятся активы на сумму более $73 млрд.

В марте компания BlackRock запустила спотовую биржевую торговлю биткоинами в Европе. ETP был зарегистрирован на Euronext Paris и Xetra под тикером IB1T, а также на Euronext Amsterdam под тикером BTCN.

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How Does Codex Use a Computer? Three Entry Points and Permission Boundaries

This article explains the three primary methods for Codex to interact with a computer, each with distinct use cases, permission boundaries, and trust levels. **1. Computer Use:** This offers the broadest access, allowing Codex to visually control and interact with the graphical user interface of authorized macOS/Windows apps, system settings, and even iOS simulators. It's ideal for tasks lacking APIs or structured tools, such as operating legacy software or multi-app workflows. However, it's the slowest method and has the widest permission scope, requiring careful supervision for sensitive actions. **2. Chrome Extension:** This grants Codex access to the user's logged-in Chrome browser state, including cookies, profiles, and open tabs. It's best for tasks requiring user identity across websites like Gmail, LinkedIn, Salesforce, or internal dashboards. Its key advantage is multi-tab control for complex workflows. While more powerful for browser-based tasks than Computer Use, it carries higher sensitivity as actions are performed under the user's identity. **3. In-App Browser:** This is a browser isolated within the Codex thread, separate from the user's personal browsing data. It excels in web development and debugging scenarios—previewing local servers, testing responsive layouts, or annotating designs directly on the page. Its isolation is a strength for development but a limitation for tasks requiring login sessions. The core principle is to choose the narrowest, safest, and most structured interface for the task. Use plugins or MCPs first, resort to visual control (Computer Use) only for GUI-dependent tasks, employ the Chrome extension for identity-reliant browser work, and prefer the In-App Browser for isolated development. **Appshots** are clarified as a fourth, complementary tool for *inputting* context—capturing a screenshot of a window to point Codex to something—rather than a method for Codex to *act*. Together, this layered approach highlights a key to AI agent productization: not granting unlimited permissions, but constraining them within clear boundaries for specific tasks while preserving user oversight.

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How Does Codex Use a Computer? Three Entry Points and Permission Boundaries

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The "Iron Rule" of Chip Equipment Is Being Broken

For years, the semiconductor equipment industry followed an unwritten "iron rule": suppliers offered steep discounts for new tool introductions (Design-in) and faced consistent price pressure during repeat orders, especially during market downturns. This long-standing buyer's market dynamic is now being upended. Recently, SK Hynix's primary equipment suppliers have reportedly requested a 3-4% price *increase*, a nearly unprecedented move. This shift is driven by a severe supply-demand imbalance fueled by the AI compute boom. Securing equipment has become an urgent arms race as chipmakers' expansion speed dictates their ability to fulfill massive AI chip orders. Key areas feeling the strain include: **TCB (Thermal Compression Bonding) Equipment:** Demand is exploding, driven by the simultaneous needs of HBM4 memory stacking, AI chip Chip-on-Substrate (C2S), and logic Chiplet Chip-on-Wafer (C2W) packaging. Players like Hanmi Semiconductor, Hanwha Semitech, and ASMPT are receiving major orders. While hybrid bonding is seen as the future, TCB remains the pragmatic choice for HBM4 mass production, with its lifecycle extended by relaxed specifications and ongoing technological upgrades. **Test Equipment Bottlenecks:** Ironically, AI-driven shortages are now crippling test equipment manufacturing. Critical components like FPGAs, Driver ICs, and CPUs face severe shortages and extended lead times (up to 52 weeks for FPGAs), as AI data center and server vendors prioritize supply. This creates a paradoxical cycle: AI chip shortages drive fab expansion, which requires more test equipment, whose production is delayed because its key parts are diverted to make AI chips. The industry is entering a broad, AI-powered upcycle. SEMI forecasts global semiconductor equipment sales to hit a record $156 billion by 2027, fueled by investment in advanced logic/foundry, HBM-driven DRAM, and advanced packaging (like CoWoS). Major players like TSMC, SK Hynix, and Micron are aggressively ramping capital expenditure. In conclusion, leading equipment vendors are no longer just selling tools; they are selling the critical capability to deliver AI-era capacity. Pricing power is shifting decisively to those with indispensable technology in key process nodes like advanced logic, HBM, and advanced packaging, rewriting the industry's traditional power structure.

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The "Iron Rule" of Chip Equipment Is Being Broken

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