Metaverse ETP ETP

$0.6190
Market Cap $ 33.561 MM (#88)
24h Volume $ 3.481 MM
Chg. 24h: 1.98%
Algo. score 4.0/5  (#47)
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Metaverse ETP News

Swiss Bitcoin ETP Sees Record Volume

Last month, Switzerland’s SIX Exchange became the first exchange in the world to list Crypto exchange-traded product (ETP). It is traded under the HODL ticker, and it comprises of BTC, ETH, XRP, and LTC. On Friday, the exchange noted a record number of 62,986 shares traded. As cryptocurrencies were crashing over the weekend, institutional investors were buying in the dip. When the price went up, the volume dropped. This indicates that a large number of traders are holding, rather than trading. (VS)

21 hours ago

We are thrilled to announce that Metaverse ETP is now on @bi...

We are thrilled to announce that Metaverse ETP is now on @bituniverse_org ! Their portfolio manager and trading ter… https://t.co/s3KUqzlQj5

3 days ago

Europe is Leading the Crypto-Revolution by Supporting Crypto Exchange-Traded Products

As the U.S. Securities and Exchange Commission continues to linger on whether or not a Bitcoin exchange-traded fund is worthy of approval, Europe has marched forward and given its support to derivative-based cryptocurrency financial products. Most recently, Switzerland’s SIX Swiss Exchange launched a multi-crypto-based exchange-traded product (ETP) which allows investors to trade BTC, XRP, ETH, BCH, and LTC. SIX Swiss Exchange is Europe’s fourth-largest exchange with a market capitalization of $1.6 trillion. The Nasdaq Stockholm also has two Bitcoin trackers (XBT Bitcoin Tracker One and XBT Bitcoin Tracker Euro) that have been in operation since 2015. Since listing, the fund has attracted more than $1 billion and there are planned launches of new versions in Denmark, Latvia, Finland, and Estonia. Meanwhile, regulators in the U.S have failed to approve any Bitcoin exchange-traded products and with the exception of CBOE and CME Bitcoin futures, SEC Chairman Jay Clayton has already intimated that the SEC has no intention of approving a Bitcoin ETF any time soon. (RS)

10 days ago

Crypto Week In Review: Bitcoin ETF Talk Mounts, Nasdaq To Launch “Crypto 2.0” Futures

The crypto market at large sustained its turbulent price action this week, with Bitcoin (BTC) jolting up and down between key levels of resistance and support. However, in spite of the dreary price action, this industry’s participants kept their pedal to the metal, announcing a series of developments that piqued the interest of investors worldwide. So, as recently put by Anthony “Pomp” Pompliano, Morgan Creek’s in-house cryptocurrency insider: “Bear markets get rid of tourists so entrepreneurs can focus on building.” SEC’s Clayton Isn’t Ready To Green Light A Crypto ETF Since Bitcoin faltered in early-2018, investors in this nascent asset class have sought to find a light at the end of the tunnel. This light, as it turns out, is a U.S.-based, fully-regulated Bitcoin exchange-traded fund (ETF). But, as recently divulged by a commissioner from the U.S. Securities and Exchange Commission (SEC), the advent of a crypto-backed ETF might be nothing more than a quixotic dream, or at least for now. Speaking at Consensus: Invest on Tuesday, SEC incumbent Jay Clayton, who assumed office in May 2017, exclaimed that he isn’t ready to greenlight a Bitcoin ETF. Backing his somewhat inflammatory statement with rationale, Clayton brought up the lack of market surveillance in crypto markets. Blockchains may be predicated on a semblance of transparency, but in juxtaposition to this nature, the SEC decision-maker noted that there’s an evident lack of bonafide surveillance implementations on crypto platforms at large. Clayton then explained that investors expect that a commodity-backed fund is free from manipulation, alluding to his sentiment that Bitcoin is susceptible to questionable fluctuations on a group’s whim, or through actions executed by bad actors. Along with his fears regarding proper surveillance measures, the lawyer by trade also noted that while strides have been taken towards impenetrable custody solutions, these services purportedly remain vulnerable to unauthorized access. VanEck, SolidX’s Bitcoin ETF Team Meet With SEC Despite Clayton’s concerns regarding crypto-backed ETFs, the SEC recently released a memorandum that outlined a paramount closed-door meeting attended by representatives from VanEck, SolidX, and CBOE, the three firms behind the foremost Bitcoin ETF application. This recent event, which is the second of its kind, saw VanEck outline its proposed vehicle through a 62-part slide deck, breaking down the ETF to its core. Aiming to calm the SEC’s qualms with the cryptocurrency market, including fears that it’s rife low-liquidity, the ETF hopefuls touted the fact that the value of Bitcoin is “tightly linked” on spot and futures markets, apparently evidence that cryptocurrency is a “well-functioning capital market.” VanEck representatives went on to draw attention to the “resilience of Bitcoin markets,” claiming that the fixed supply, distributed, and secure nature of Bitcoin would disallow manipulation. VanEck went on to laud CBOE’s trading system, which the ETF would be based upon, for its speed, security, and ability to stay compliant with financial law, something that the SEC is likely seeking. No comments from the SEC were issued on VanEck’s slide deck, but many investors are hopeful that the attendees of the forum were pleased with what was presented. Nasdaq, VanEck To Launch “Crypto 2.0” Futures, Aims For Q1 2019 Launch On Tuesday morning, the crypto industry at large was rattled, as insiders reportedly claimed that Nasdaq had plans to launch a Bitcoin futures contract. Although the rumor was somewhat cast aside, with some skeptics calling the news “baseless,” at Consensus: Invest, VanEck digital asset strategist Gabor Gurbacs did his best to clear the air. On-stage, in front of a crowd of hundreds, Gurbacs officially revealed that VanEck was, in fact, partnering with New York-based Nasdaq to “bring a regulated crypto 2.0 futures-type contract” to market. However, like the Bloomberg report that originally broke the news, Gurbacs seemingly didn’t follow up the comment regarding the proposed product’s exact details. So due to the apparent secrecy, many quickly resorted to speculation, with some questioning if Nasdaq’s instrument would make use of ‘physical’ Bitcoin in custody, unlike CBOE and CME’s futures, but like Bakkt’s vehicle slated to launch in late-January. Then again, it isn’t clear if Nasdaq has plans to implement such a complicated feature, but seeing that the exchange is relatively blockchain- and crypto-friendly, physical backing isn’t out of the realm of possibility. Bloomberg noted that Nasdaq is planning to launch the proposed instrument in Q1 2019, which lines up with the planned release of Bakkt, Fidelity Digital Asset Services, and ErisX. It is important to note that the launch day is dependent on a green light from the U.S. Commodities Futures Trading Commission. DJ Khaled, Floyd Mayweather Fined By SEC In ICO Case On Thursday morning, after a cloud of legal action loome

11 days ago

Bitcoin Crypto Basket ETP Sees Over $400,000 in Trading in First Week

The Bitcoin ETP launched by Amun on Swiss exchange SIX last week has completed its first week of trading,…

14 days ago

Daily Berminal Brief: CFTC Issues Smart Contracts Primer And Swiss Crypto ETP Beats Gold, Crude Oil, And Silver

The State of The Market - November 29, 2018 BTC: $4,352.66 (+6.22%) XRP: $0.383816 (+1.52%) ETH: $121.42 (+5.03%) The market is in green for the second consecutive day, with Bitcoin posting its biggest 24-hour gains in 7 months. Bitcoin closed at $4,257 yesterday, gaining 11.43%. This is the biggest single-day gain since April 2018, when Bitcoin was trading above $6,900 and eventually rallied $10,000. A similar rally can be expected if the momentum continues. The marked gained nearly $20 billion in the last 2 days. Among the top cryptocurrencies, Tron (TRX) is up by nearly 30%, and Cardano is up by 15%. In other news, the weekly number of searches for "Bitcoin" on Google reached a high not seen since the first week of April. Data from Google shows that 'Bitcoin' searches over the past three days account for up to 17% of the all-time-high weekly search volume that was achieved from December 17 - December 23, 2017. The majority of searches came from Nigeria, South Africa, and Austria, whereas the U.S. ranked in nineteenth place. Also, the US Treasury has sanctioned two Bitcoin wallet addresses for the first time ever. The two Iranian men indicted in the sanctions are allegedly connected to a ransomware scheme that pilfered unsuspecting victims out of Bitcoin. 1) US commodities regulator, Commodity Futures Trading Commission (CFTC) has issued a primer on Smart Contracts. It came from CFTC's fintech innovation hub LabCFTC. LabCFTC previously published a primer on virtual currencies in October 2017. The new primer deals on blockchain-enabled smart contracts. It has defined smart contract as 'self-executing computer code to take actions at specified times and/or based on reference to the occurrence or non-occurrence of an action or event.' It explores the potential applications and shortfalls of smart contracts. 2) Swiss Crypto ETP has beat every other product on the platform. Switzerland's SIX, Europe's fourth-biggest exchange launched the world's first crypto ETP (Exchange Traded Product) this month. It just one week, it now has the highest volume of any ETP on the platform. It beat gold, crude oil, and silver. While the investment has dropped by 15%, it has the highest turnover of 425,000 CHF ($425,000) a day. The enthusiasm among investors indicates that they've been waiting for this for a long time. 3) Amazon is launching a service that will assist clients with developing their own blockchain networks. The announcement was made at Amazon's re:Invent conference and the product will be called 'Amazon Managed Blockchain'. According to Amazon, the platform "is a fully managed service that makes it easy to create and manage scalable blockchain networks." Clients have the option of building platforms that use Hyperledger Fabric or Ethereum and the platform is designed to help clients avoid the overhead costs required to build a blockchain platform. Amazon will also ensure that the platform "automatically scales" to each client's organizational needs. (VS)

14 days ago

Daily Cryptocurrency News - 28th November 2018

Here are the most important cryptocurrency news of 28th November 2018: Switzerland’s ETP Had Great Results So Far Earlier this month, Bitcoin’s first ETP went live under the $HODL ticker on SIX Exchange - Europe’s 4th biggest traditional stock exchange. Only one week after its launch - and the ETF have the biggest turnover on the exchange so far. The fund introduced by Amun covered 5 important cryptocurrencies :Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin. The Amun ETP which closed on November 26th hit an amazing $425,000 daily turnover, beating several commodity products in crude oil, gold or silver. The high number of trading volume is a sign of interested investors and are possible great news for Bitcoin’ VanEck ETF. Even if the ETF was created for the 4th biggest exchange in Europe, the volume here is pretty low. The SPDR Gold Shares ETF have a daily volume of $987 Millions in US, according to etf.com. The ETF started with a value of 15.74 and reached a bottom one of 12.40. The price however started increasing after the bottom was touched and the last trade war for 14.21 - a 12.81% increase.For more details about this ETF, you can check’s Amun Crypto Basket Index ETP. Nasdaq & VanEck Working Together To Create ‘Crypto 2.0’ Futures Contracts VanEck - an investment management firm & the company that still have their Bitcoin ETF in pending from SEC - announced yesterday a partnership with Nasdaq. The news firstly appeared on Coindesk Consensus: Invest conference - where Gabor Gurbacs, VanEck’s director of digital asset strategy, announced a ‘regulated crypto 2.0 futures-type contracts’. “What I’d like to point out is we ran a few extra miles working with the [Commodity Futures Trading Commission] to bring about new standards for custody and surveillance,” Asked a bit more about the futures contracts, Gurbacs declared for CoinDesk that the new ones would be an ”upgrade” of the ones that we have now. More exactly, he plan to use the Nasdaq’s stock market surveillance system called SMARTS and ‘the trusted pricing benchmarks provided by MVIS’.The main reason why he thought this would be necessary is to “inspire confidence with regulators and institutions trying to get involved [in the crypto markets],” SMARTS is a software with hundreds of detection algorithms especially created for people that like to wash trade or spoofing the market. This would allow another type of Bitcoin Futures to be live and to work ‘ in a fair and orderly fashion’. Gurbacs also predicts that 2019 will be an interesting year for cryptocurrencies, claiming that: “We believe that 2018 was the year of regulation and 2019 will be the year of implementation.” Market Recovers Over 10 Billion In Under 24 Hours As it appears, the war for the BCH supremacy is over and so are the ‘deadly’ drops in price. After one week of Black Friday - Bitcoin finally reached a value above $4,000. Right now, the Bitcoin’s price is $4,343 on Binance and $4,379 on Bitfinex. The lowest rate until now was $3,500 on November 25th. It also decreased even more in price on exchanges with less liquidity. The Bitcoin volume for the last 24 hours is an amazing $7.2 Billion while the cryptocurrency total market capitalization have a total of $141 Million. At the moment of writing, all the top 10 cryptocurrencies are ‘green’ - except Bitcoin SV. After reaching an amazing $120 per BSV yesterday, the new cryptocurrency created by Craig Wright lost over $20 and is now trading at $95.56. Stellat Lumens (XLM) also gained 17.48% in price, securing its #5 spot from EOS. Ripple gained a 14% too, and its now half a cent away from $0.4 range. Ethereum gained 16% - more than XRP but not enough to gain the second place. Right now, Ethereum is still behind Ripple (XRP) with a $3.1 Billion difference in market cap between them. Ethereum, currently have a $123.58 price, a 22% increase since its November value. Today’s Top 100 Best Five Performers Verge (XVG) had a great bull run today growing from 153 Satoshi to 196 Satoshi at its peak. In USD - the value increased from $0.005738 to $0.008377. This equals to a 24.85% increase in BTC value as well as a 43.38% increase in USD value. Another privacy coin was the second best performer today - Bitcoin Private (BTCP). BTCP increased with 41.38% in value since 24 hours ago and with 22.46% in BTC value. Surprisingly, the volume today was $270,000 - almost twice the average volume for the last 30 days. This may be a sign that the BTCP being available on Changelly and ChangeHero brought new investors to this privacy focused cryptocurrency. The 3rd best performing one - Tron (TRX). Tron’s increase from $0.0116 to $0.0156 didn’t came as a surprise, as BitTorrent and uTorrent started accepting TRX, BTC and BNB yesterday. In terms of BTC value, TRX grew from 311 Satoshi to a current trading price of 352 Satoshi. This makes Tron have a 31.50% increase in USD and a 13.70% in BTC. Tron’s price also give signs for a possible bull run. Resista

15 days ago

Crypto Market Adds $16 Billion as Bitcoin has its Best Day in 4 Months

Bitcoin is on track to have its best day of performance in nearly 4-months after rallying 13.4% over the past 24-hours. As the king of cryptocurrencies recovers, the wider market has added $16 billion in value and the market appears ready to continue the current strong upside move. The market rally is thought to be driven by Nasdaq announcing plans to launch Bitcoin futures contracts and the SIX Swiss exchange is actively trading Amun’s crypto-exchange-traded product (ETP). Alexander Kuptsikevich, a markets analyst at FX Pro Insights, also told MarketWatch that traders should pay attention to the market near $3,500 as “this is an area that saw drastic increases back in September 2017.”

15 days ago

Indicators Show Institutional Investors are Still Entering the Crypto Market

eToro Senior Market Analyst Mati Greenspan believes that institutional investors are steadily moving into cryptocurrencies despite the long-term bear market. According to Greenspan, the current prices present an attractive entry point into a wide array of cryptocurrencies. For this reason, Nasdaq Inc. is steadily moving forward with its plan to list Bitcoin futures by Q1 of 2019 and currently, the firm is working to meet the expectations of the Commodity Futures Trading Commission (CFTC). Greenspan also pointed out that a number of crypto-investment platforms are obtaining licenses and launching all throughout Europe. Most notably, the Amun Crypto Basket Exchange Traded Product (ETP) which just launched last week. While the ETP is down 15% and shares are priced at $12.40 per unit, Greenspan explained that this is merely a reflection of the bearish sentiments ruling the overall market right now and the fact that the ETP turned over $425,000 a day is a positive sign. (RS)

15 days ago

Bitcoin Price Up By $3bn As Nasdaq Unveils 2.0 Futures

The Bitcoin price pushed past the $4,000 mark earlier today, as the market shows some signs of recovery. The upswing might be a result of changing sentiment and new institutional players, as Nasdaq revealed new products for virtual currencies. Yesterday morning, the BTC price hit a new low for the year after it fell below $3,700. But prices soon began to correct, pushing upwards and finally hit the $4,000 mark at approximately 04:00 GMT this morning. Bitcoin has increased by nearly $500 in the past 24 hours, a $3bn increase in its market cap. It was trading at $4,027 per coin, at the time of writing. It isn’t just Bitcoin that has had a good day. Most coins in the top ten - with the exception of the new Bitcoin SV (BSV) - are up by strong margins. Litecoin (LTC) currently leads the pack with 10% growth and Cardano (ADA) on 9%; Ether (ETH) and Stellar Lumens (XLM) not far behind on a rough 8.5% price increase. XRP, currently the second largest coin by market cap, is up by 6%. Bitcoin SV, a product of the Bitcoin Cash (BCH) hard fork, launched as a new independent cryptocurrency earlier this week. Although the coin started at $100 - even spiking to $120 - the coin dipped to a low of $83 earlier today. Bitcoin Cash, which has now implemented the rival ABC protocol implementation, has itself made modest gains, up by 3% to $183. Bitcoin Price Upswing The rally was a relief after one of the market’s biggest slides, when the total value of all cryptocurrencies fell by nearly $100bn in two weeks. A combination of SEC regulatory news and the hard fork were the two leading factors behind the downturn. A decline in tech stocks, which seem to be correlated with cryptocurrencies at least on a macro level, may have also played a part. The recovery coincided with yesterday’s Consensus: Invest event, hosted by CoinDesk in New York. Unlike other crypto conferences, the event was targeted towards traditional investors, with some of the speakers coming from prominent Wall Street banks. The biggest story, as reported by CoinDesk, was that Nasdaq would be introducing a range of financial products for virtual currencies. In collaboration with VanEck, which unsuccessfully proposed its own Bitcoin exchange-traded fund (ETF) in the summer, they want to “bring a regulated crypto 2.0 futures-type contract.” The announcement comes less than two weeks after fintech provider Amun unveiled its new Crypto Basket Exchange Traded Product (ETP). Regulated in Switzerland, the basket tracks an index of the five biggest cryptocurrencies by market cap. It currently has the highest volume on the Swiss Six Exchange, beating similar products in mainstream assets such as gold, silver and crude oil. “It’s now clear that institutional investors are definitely moving forward with crypto investments,” says Mati Greenspan, senior analyst at eToro. “The new crypto ETP that was launched last week in Switzerland has quickly become one of the most popular products on the primary Swiss stock exchange. I must say that this excitement has surpassed all my personal expectations.” Although Bitcoin and the rest of the crypto market still have some way to go before they fully recover, this might be the big break it needed. The author is invested in BTC and ETH, which are mentioned in this article. The post Bitcoin Price Up By $3bn As Nasdaq Unveils 2.0 Futures appeared first on Crypto Briefing.

15 days ago

Switzerland’s Recently Launched ETP Gets Overwhelming Response

The crypto exchange-traded product (ETP) that was launched on a Swiss exchange last week has been clocking good trade volumes. ETP Clocks Good Numbers Earlier this month, Live Bitcoin News reported about the world’s first crypto Exchange-Traded Fund (ETF) getting listed on SIX Swiss Exchange, Europe’s fourth-biggest traditional stock exchange. A week after its launch, the product has clocked the highest turnover of any product on the exchange. The fund that was introduced by cryptocurrency firm Amun includes Bitcoin, XRP, Ethereum, Bitcoin Cash ABS, and Litecoin. It’s the first such fund in the world to cover Ripple, BCH, and LTC. Beats Other Products Hands Down The Amun ETP hit a daily turnover of 425,000 CHF ($425,000) at closing on November 26, beating several commodity products in silver, crude oil, and gold. High trading volume is an indicator of investor enthusiasm for a financial product. While the number clocked is higher than other products on the exchange, it is still small compared to the size of any large ETF in the United States. To put this in perspective, according to etf.com, the SPDR Gold Shares ETF clocks in an average daily volume of $987 million. However, the high trade volume for the Amun ETP on the SIX exchange indicates the demand for such crypto-based products in the market. Reasons for the High Volume According to Richard Johnson, a market structure expert at Greenwich Associates, the high volume might be a result of trading firms looking to gain from arbitrage-based trades between the ETP and the underlying spot market. The sudden drop in the digital assets market over the last few days and further prospects of a decline has left traders, investors, and hedge funds desperate to leverage arbitrage or futures to make up for the losses. A source familiar with the product is reported to have revealed that the volumes have been contributed equally by retail investors and institutions. It is reported that Jane Street Financial and Flow Traders, two specialist market makers, have become active traders of the underlying digital assets as authorized participants for the ETP. The two firms provided the initial liquidity by purchasing several units of the product. Both firms have not revealed details about their investments in the product or their trade volumes. The high trade volumes on the SIX exchange can be looked upon as an indicator of the investor sentiment. The much awaited and anticipated ETF in the U.S. could take the crypto market to the next level due to the participation of institutional investors. However, the massive drop in the crypto market over the last few days has impacted the Amun ETP as well. The product, which made a debut at a price around $13.80, has since dropped by 15% to $12.40 a unit. Do you think the great response to the Amun ETP is welcome news? Let us know in the comments below. Images courtesy of Shutterstock. The post Switzerland’s Recently Launched ETP Gets Overwhelming Response appeared first on Live Bitcoin News.

15 days ago

Crypto Today: Indicators Show That Institutional Investors Are Making Their Way to Cryptos

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro Indicators show that institutional investors are definitely moving forward with crypto investments. Nasdaq plans to pursue Bitcoin Futures despite crumbling prices First Crypto ETP on Swiss Exchange SIX becomes popular as traders go crazy over it Institutions are coming to cryptos Comfortable and lucrative entry points and availability of crypto products to invest in has been the right recipe that institutional money has been searching for to enter cryptos. With the recent meltdown in markets, the prices now seem lucrative enough institutions to bet on cryptos there is still a very little option or products for an institution to put their monies in to. Understanding this gap Nasdaq Inc. is moving ahead with a plan to list Bitcoin futures. The New York exchange operator, which was first reported to be eyeing Bitcoin futures last year, wants to allow trading in the first quarter of 2019, according to people close to this development. It currently has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission, before launching the contracts. Another news flow coming in from Europe that shows signs that institutions are getting into cryptos is the popularity of the recently launched crypto-based ETP that found its listing on Swiss exchange SIX. According to the data and news reports coming in from Switzerland, traders seem to have gone crazy Amun Crypto Basket ETP, worlds first crypto ETP. The recently launched Amun Crypto Basket ETP which began trading on Switzerland’s Six Exchange last week has already had the highest volume among another exchange-traded product trading on Swiss stock exchange, SIX. Although, the price of the investment product is down 15% at $12.40 a unit, reflecting the bearish sentiment of the overall crypto market, its turnover of 425,000 CHF ($425,000) a day was good enough to beat a number of products in silver, crude oil, and gold trading on SIX. As high volumes are typically associated with investor enthusiasm in a given stock or financial-product one can be sure that institutions are eyeing this product to enter crypto markets The post Crypto Today: Indicators Show That Institutional Investors Are Making Their Way to Cryptos appeared first on Coingape.

15 days ago

Razões pelas quais o Bitcoin pode valer 6 mil dólares em breve

Por: Livecoins Depois de um mês miserável para o mercado de criptomoedas, o mercado de urso parece ter finalmente chegado ao fim com bitcoin negociando acima da faixa de suporte de US $ 4.000 e deverá subir ainda mais. Aqui está uma série de desenvolvimentos positivos para o bitcoin que foram anunciados no evento Consensus esta semana, o que provavelmente levou ao aumento de preço. Contratos Futuros do Bitcoin na Nasdaq A Nasdaq, a 2ª maior bolsa de valores do mundo, planeja lançar contratos futuros sobre bitcoin que serão negociados na bolsa de valores. O anúncio foi feito por Gabor Gurbacs, diretor da VanEck no evento Consenso em Nova York nesta semana. No anúncio, ele afirmou que a VanEck fez uma parceria com a Nasdaq para trazer ao mercado um contrato de futuros de criptomoedas regulamentadas, isso levará a um enorme crescimento da criptomoeda, especialmente a capitalização de mercado do bitcoin, o que pode resultar em um aumento massivo de preços em 2019. Primeiro Índice de Criptomoedas do Mundo ETP Lançado O ETP monitora atualmente 4 criptomoedas, Bitcoin, XRP, ETH e Litecoin com o índice fornecido pelo MVIS. O ETP está sendo negociado em torno de US $ 400.000 por dia, o que é um bom volume de início e está classificado em alta nos mercados de ETP na Suíça. Além disso, a maioria dos investidores está usando o ETP para e hold. Comissão de Valores Mobiliários e Câmbio sobre ETF No evento da Consensus, Jay Clayton, o presidente da SEC, enfatizou o ETF de Bitcoin proposto por VanEck. O índice de preços ETF Bitcoin de VanEck usará os dados dos 3 maiores mercados de balcão que são a Genesis Trading, Circle Trade e Cumberland, pois acredita-se que esses são os mercados menos manipulados. O presidente da SEC disse que o ETF seria aprovado até que os mercados estivessem totalmente livres do risco de manipulação. O mercado parece bastante otimista no momento, com o preço subindo significativamente e logo poderá romper a resistência em cerca de US $ 4200, após o que se espera que o preço suba maciçamente. O artigo Razões pelas quais o Bitcoin pode valer 6 mil dólares em breve apareceu primeiro em Livecoins.

15 days ago

Swiss Crypto ETP Beats Every Other Product

Switzerland's SIX, Europe’s fourth-biggest exchange launched the world's first crypto ETP (Exchange Traded Product) this month. It just one week, it now has the highest volume of any ETP on the platform. It beat gold, crude oil, and silver. While the investment has dropped by 15%, it has the highest turnover of 425,000 CHF ($425,000) a day. The enthusiasm among investors indicates that they've been waiting for this for a long time. (VS)

15 days ago

Bitcoin parece se recuperar após o massacre do fim de semana, Altcoins enfrentando resistências

Por: Livecoins Após um final de semana vermelho escuro no mercado de criptomoedas, tanto o bitcoin quanto as principais altcoins começaram a se recuperar nesta segunda de manhã. Nas últimas 24 horas o bitcoin subiu mais de 4% em relação ao final de semana que teve mínima de US $ 3.500. Do ponto de vista da análise técnica, o bitcoin e outras moedas importantes parecem ter encontrado algum suporte em torno dos níveis de setembro de 2017. A questão, no entanto, é se esse nível vai se manter, ou se o mercado vai cair mais. Após a grande queda do mercado de criptomoedas, a capitalização encolheu agora para cerca de US $ 130 bilhões, de um pico de US $ 822 bilhões em janeiro deste ano. Portanto, mais de 50 das maiores empresas de capital aberto do mundo agora têm valores de mercado maiores do que o mercado inteiro de criptomoedas. Isso inclui todas as famosas empresas de tecnologia - o chamado grupo de ações FAANG (Facebook, Amazon, Apple, Netflix e Google) -, mas também muitas empresas menores, como McDonald’s, Walt Disney e MasterCard . Bitcoin Cash com as maiores perdas Entre os maiores perdedores durante a recente onda de vendas de criptomoedas, o Bitcoin Cash (BCH) se destaca, conhecido como “fakebtc”, a moeda que ironicamente se intitula “verdadeiro bitcoin”, foi duramente atingida pela briga interna entre os desenvolvedores do Bitcoin ABC e Bitcoin SV. O Bitcoin ABC parece ter saído vitorioso, mesmo assim teve grandes perdas no preço, uma vez que caiu de mais de US $ 380 na semana passada para apenas US $ 167. A moeda também perdeu brevemente o seu quarto lugar para EOS, embora isso tenha sido revertido hoje de manhã. Contratos Futuros de Bitcoin Expiram na sexta-feira (30) Embora o mercado pareça ter encontrado pelo menos algum suporte, a volatilidade pode estar voltando ao bitcoin em breve. Na sexta-feira (30 de novembro), os contratos futuros do bitcoin na bolsa CME Group devem expirar - uma ocasião mensal que alguns sugerem ter causado quedas no bitcoin no passado. Bitcoin e Altcoins enfrentando resistências difíceis Depois de perder o suporte de US $ 4.000, o preço do bitcoin caiu para o suporte de US $ 3.600. O preço é atual é de US $3.740. Se os compradores precisarem ganhar impulso de alta, eles precisam empurrar o preço acima de US $ 4.200. Por outro lado, um rompimento abaixo de US $ 3.500 pode empurrar o preço para US $ 3.000. Ethereum O preço do Ethereum caiu drasticamente abaixo dos níveis de suporte de US $ 120, US $ 118 e US $ 110. Hoje o preço chegou a subir cerca de 2% e atualmente está sendo negociado acima de US $ 100. Os suportes anteriores de US $ 120 e US $ 125 estão atuando como grandes barreiras. Se a moeda subir acima US $ 125, o preço poderia ser alavancado para a próxima resistência semanal em US $ 150. Outras altcoins Muitas altcoins recuperaram mais de 15% hoje, incluindo SRN, ETP, VERI, MONA, POLI, RVN, FCT, XTZ, ARK, ARDR e NEXO. Destas, a SRN subiu cerca de 70% e a ETP ganhou cerca de 33%. A queda recente do bitcoin abaixo de US $ 4.000 foi assustadora para os investidores. O Bitcoin parece estar se recuperando, mas os traders precisam ganhar força acima das barreiras semanais de US $ 4.100, US $ 4.200 e US $ 4.400 para uma sólida recuperação nos próximos dias. Se os compradores falharem, poderá haver uma nova queda no bitcoin e nas altcoins. O artigo Bitcoin parece se recuperar após o massacre do fim de semana, Altcoins enfrentando resistências apareceu primeiro em Livecoins.

17 days ago

Switzerland's Crypto ETP Launches with Minimal Interest

A large portion of the crypto community restlessly endured a year-long bear market with the hope of an eventual approval of a Bitcoin ETF that would lead the market to new all-time highs. In fact, many traders thought that the moment had arrived when Swiss fintech firm, Amun, announced that they were approved to launch a cryptocurrency exchange-traded product (ETP) that would trade Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash. Sadly, as the ETP launched, the entire crypto-market continued to implode and it’s clear that bears are still in full control. Amun’s ETP only managed to trade 27,244 shares and $400,000 in volume. This is far away from the hundreds of millions that many expected and some analysts are attributing the low volume to the fact that SIX exchange is 13th on the list of the world’s largest stock exchanges. (RS)

17 days ago

Amun Crypto ETP Launch Sees Minimal Interest, Fails to Curb Bears

Since’s the commencement of crypto’s bear market in 2018, investors in this budding asset class have sought to find refuge, banking their cryptocurrency holdings on a number of prospective catalysts, including the advent of institutional players and the formulation of a Bitcoin-backed exchange-traded fund (ETF). So, many thought their prayers were answered, when Amun, a European fintech firm, introduced a Switzerland-based exchange-traded product (ETP) centered around Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash (recently omitted due to a contentious hard fork). Related Reading: Crypto Week in Review: Bitcoin ETP Launches in Switzerland, KuCoin Scores $20M As this news hit the crypto mainstream, with thousands quickly sharing the development on this ecosystem’s social media channels, a copious amount of bullish sentiment found footing. Some optimists, blinded by “hopium,” claimed that this turn of events alone would turn the tide in bulls’ favor. But sadly, the launch of this instrument hasn’t done much to hamper the propagation of sell-side price action. In fact, as the product came to life, the crypto market continued to collapse, with BTC freefalling to establish new year-to-date lows under $4,500, as altcoins instantaneously followed suit. Many chalked this up to the lack of interest in Amun’s crypto foray, coupled with the misunderstood fact that the product isn’t the ETF that investors have been clamoring for. Amun’s Switzerland-based “HODL5” ETP Fails to Move Crypto Markets As astutely pointed out by Su Zhu, a Singapore-based cryptocurrency industry executive and investor, the product, dubbed “HODL5” in a nod to a long-standing inside joke in the cryptocurrency cohort, saw minimal volume on its first day in operation. Citing data gathered by SIX Swiss Exchange, the platform that HODL5 was debuted on, Zhu exclaimed that the product only saw 27,244 of its shares traded, a mere ~$400,000 in volume, a far cry from the millions in volume that optimists were betting on. Day1 of the Swiss HODL5 ETF saw 27,244shares ($400k) of volume. @FlowTraders is the official marketmaker. I'll be watching this closely as a barometer of natural interest.https://t.co/NFrKY1cLWr — Su Zhu (@zhusu) November 24, 2018 Many chalked up this lack of volume to a number of factors, namely the fact that SIX is only the world’s 13th largest stock exchange, even though the firms, funds, and vehicles listed on the platform amount to $1.6 trillion. Others looking to find a silver lining aimed their scopes at other nuances, with some pointing out that the scarcity of trading volume pertaining to HODL5 indicates that institutional investors with access to SIX, the vehicle’s targeted clientele, don’t believe that the crypto market is poised to reverse its multi-month downtrend. ETP, Not ETF Although some media lauded and touted Amun’s crypto basket as the “world’s first Bitcoin ETF,” a hot-button topic for the majority of crypto investors, it is important to accentuate that this is a piece of disinformation. HODL5, is, in fact, an ETP. While the two forms of investment vehicle do share underlying similarities, when it comes down to the nitty-gritty, an ETP isn’t inherently an ETF. Peter Sin Guili, who did some internet sleuthing to gain insight on the matter, divulged that HODL5 is nothing more than an exchange-traded note (ETN) or commodity (ETC), alluding to the fact that some investors were in over their heads when the instrument was announced. IMPORTANT:: Please take note the Swiss #Crypto Exchange-Traded Product (Amun Crypto Basket Index) that is launching on 21 Nov, is NOT an #ETF. It is listed under ETP - a debt security NOT a Fund & is not supervised by FINMA.See attached pics from Six Swiss Exchange!#Bitcoin pic.twitter.com/ggmoqmTLj4 — Peter Sin Guili (@petersinguili) November 20, 2018 For those who aren’t in the know, the differentiation between an ETF and an ETC/ETN is actually more pertinent than it may seem. More specifically, as per an official SIX release, Amun’s crypto basket product, while collateralized, isn’t surprised by Switzerland leading financial regulator, with this classification likely putting off investors at large. Additionally, HODL5’s ETP status also means that Amun isn’t eligible to have a central counterparty/clearinghouse (CCP) manage or aid its vehicle, likely diminishing interest in the product even further. Although the aforementioned points may scream “bear,” many hold faith in the product, which may prove to be an intermediate stepping stone toward a Bitcoin-secured, U.S.-based ETF that will catalyze the influx of retail investors. Featured image from Shutterstock. The post Amun Crypto ETP Launch Sees Minimal Interest, Fails to Curb Bears appeared first on NewsBTC.

17 days ago

Bitcoin ETF ‘Definitely Possible,’ SEC Commissioner Confirms

SEC commissioner, Hester Peirce, recently appeared on the ‘What Bitcoin Did’ podcast, confirming that a Bitcoin ETF was definitely possible. ‘I Dissent’ The most notably pro-bitcoin SEC commissioner, Hester Peirce, appeared on the ‘What Bitcoin Did’ podcast at the weekend. Whilst unwilling to describe a future Bitcoin ETF as inevitable, she did confirm it was definitely possible. Peirce first won the hearts of the crypto-community with her ‘statement of dissent’, following yet another denied Winklevoss ETF application. In the statement made in July, she publicly disagreed with the Commission’s view, that Bitcoin was not “ripe enough, respectable enough, or regulated enough to be worthy of our markets.” She felt that the SEC had gone beyond its jurisdiction, in assessing the underlying asset, rather than the specific market that it would trade in. In the podcast she reasserts that the SEC has a specific mandate, to uphold the regulatory framework. She believes that the SEC should allow for innovation within that framework and not become interventionist. ‘Crypto’ Not A Free Pass Peirce explains that the SEC has brought in specialists to advise in the area of cryptocurrency, who have led the agency to take to a cautious approach. She believes that it is right to pursue those who use “crypto” in an attempt to scam people out of money but is pushing to allow more scope for innovation. Just because you are calling something Crypto does not mean you can ignore the rules we have had in place for years... but I do think we also need to be willing to open the doors a little bit wider for innovation. She stresses that although so far all cryptocurrency ETF applications have been rejected, they are still open. Ongoing Relationship Peirce points out that the commissioners have been inviting comments from the public, and that this process is extremely useful. The applications are an ongoing relationship or conversation, the SEC’s orders following denial simply point out issues to address. Peirce explains that many comments enquire about the timing of the route to final approval, but this is not so easy to answer. Each proposal is assessed on its own merits, and each is designed differently. So when a particular proposal will convince three of the five commissioners is hard to say. Peirce suggests it must run its course. Meanwhile, this month Switzerland approved the first Bitcoin ETP to trade on the Six Stock Exchange. This is the main stock exchange in Switzerland and the fourth largest in Europe. So it seems the winds of change are blowing and it can only be a matter of time before they reach across the Atlantic. Will the Bitcoin ETF be approved by the final deadline in February? Let us know below! Images courtesy of Shutterstock The post Bitcoin ETF ‘Definitely Possible,’ SEC Commissioner Confirms appeared first on Bitcoinist.com.

17 days ago

Huobi Big Data Report: Blockchain Voting for U.S. Military, Switzerland Launches World’s First Crypto ETP

Huobi published its report for the week running from Nov. 11th to Nov. 18th and it is marked by a decrease in digital asset prices. The report also focused on several other issues including the industrial application of blockchain technology, the use of cryptocurrencies by risky personalities, the possibility of paying taxes using cryptocurrencies, and the use of blockchain technology in elections. The 25-page report also touched on how the crypto community interacted on social media. Market and Technical Statistics The majority of digital assets registered price decreases. The market capitalization of the top 100 projects tumbled by 13.98 percent during the specified week to $175.8 billion. HC registered the largest decrease of 36.69 percent and was relegated to the 100th position. Nine projects entered the top 100 list with FCT increasing by 86.75 percent and claiming the 71st spot. Other newcomers include SRN, ODE, DGTX, ELA, BOS, PAY, INB, and THETA. As of Nov. 18th, Bitcoin was trading at $5,563.68, 13.16 percent less than its last week price. Ethereum suffered the same fate as it dropped by 19.15 percent in the same period to trade at $170.80. Due to its price drop, Ethereum was overtaken by Ripple’s XRP as the world’s second largest cryptocurrency by market capitalization. The top 10 cryptocurrencies which accounted for nearly 86 percent of the entire market cap, dropped by 13.39 percent from the previous week to $157.06 billion. Bitcoin’s dominance on the market cap increased by 0.7 percent from the previous week to reach 52.94 percent. The Bitcoin hashrate increased while that of Ethereum decreased. The difficulty of Bitcoin mining remained relatively stable from the previous week and that of Ethereum increased by 0.66 percent. The top 5 Bitcoin mining pools - BTC.com, Slushpool, AntPool, F2Pool, and, ViaBTC - accounted for 60.8 percent of all Bitcoins mined in the week. Bitcoin, Ripple, and Ethereum, the top 3 cryptocurrencies by market capitalization were the most popular digital assets on Facebook and Twitter. Weekly Blockchain News The State of West Virginia reported that the first instance of blockchain voting for military personnel stationed overseas in 24 countries in the U.S midterms elections was a success. Mac Warner, the Secretary of State of the U.S. state of West Virginia was quoted as saying: “This is a first-in-the-nation project that allowed uniformed services members and overseas citizens to use a mobile application to cast a ballot secured by blockchain technology.” Still, with elections, the Democratic Party, the main opposition party in Thailand became the world’s first major political party in the world to “carry out primary elections entirely on the blockchain.” The Canadian House Finance Committee discussed cryptocurrency regulation in a bid to curb money laundering. Cryptocurrencies are anonymous and difficult to trace making them a favorite choice for some criminal actors. According to iPolitics, cryptocurrencies “have a history of being used by risky personalities such as Edward Snowden and Julian Assange.” The Monetary Authority of Singapore, Bank of England, and Bank of Canada released a joint report that “singled out central bank digital currencies as being one of the solutions that can be implemented in order to solve the challenges encountered when making cross-border payments.” Amid the nosedive in the prices of digital assets, Switzerland became the first country in the world to launch an exchange-traded product (ETP) that tracks multiple cryptocurrencies. The Internal Revenue Service Advisory Council believes that taxpayers should be allowed to pay their taxes in cryptocurrencies and this could help the “agency strengthen its collection enforcement.” Huobi Big Data Report: Blockchain Voting for U.S. Military, Switzerland Launches World’s First Crypto ETP was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

17 days ago

Europe: Crypto and Blockchain News Roundup 16-22 November 2018

Europe Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news continent by continent, and country by country. United Kingdom Government Considering Crypto Ban Despite 3 Million Users: UK’s top financial regulator Financial Conduct Authority (FCA) has cited integrity issues to consider placing a ban on cryptocurrency derivatives in the country despite the presence of millions of investors. The comments were made by FCA’s executive director Christopher Woolard during an event in London on November 20, 2018. The idea of a ban was met with much criticism from the crypto sector. Gibraltar Exchange Allocated Top Operating License: Gibraltar Blockchain Exchange (GBX) has been granted the top operating license by the country’s watchdog. The level 3 certification was given after the exchange cleared all the 9-point guidelines formulated by the government in January this year. Gibraltar is consistently rated as one of the most pro-crypto places in the continent with many blockchain startups mushrooming around the tiny autonomous region. Norway Government Pulls the Plug on Mining Subsidies: The Norwegian government has announced that it is ending subsidies on power for cryptocurrency mining companies. The decision comes after the electricity requirement rose dramatically in the country due to these mining operations. Right now, the Norwegian data centers will remain on discount paying NOK 0.48 (0.056 USD) for one unit. For mining projects, the price may increase to a mammoth NOK 16.58 (1.94) per unit starting early next year. Switzerland Multi-Crypto ETF Listed on Stock Exchange: Swiss stock exchange SIX has now allowed the listing of the first multi-crypto ETF in the country after committing the move earlier this year. In addition to the first ETF of such nature, the exchange is also close to listing the first Exchange Traded Product (ETP) as well. Switzerland’s cryptocurrency and blockchain projects are becoming one of the most progressive ones in the continent. Railroad Workers to Replace Paper IDs with Blockchain-based Ones: The Swiss Federal Railway System (SBB) has announced that it is replacing paper processes for its employees with a blockchain-based one. The first Proof of Concept (PoC) was implemented successfully and the project eventually aims to create Digital EDs for all rail workers working at various construction sites across the European country. Italy Government Clamping Down on Unregistered Cryptocurrency Exchanges: The Italian regulator Commissione Nazionale per le Società e la Borsa (CONSOB), is working to tighten its grip on cryptocurrency trading in the country by pointing out and reprimanding exchanges and firms that are not complying with the issued regulations. Three institutions have already received suspensions in the process and more are to follow with one of them banned for an indefinite period. The government is also working on a formal framework for the sector. Spain Organic Poultry Tracking System Launched: Retail giant Carrefour has announced the deployment of the first blockchain-based poultry tracking system in the country for organically raised birds. Galician chickens are one of the most sought-after and exquisite chickens in the country but the current supply chain system leaves much wanting. The new DLT system based on IBM’s Hyperledger will allow for a more transparent system that will help track poultry and its originality. Government Forcing Investors to Declare their Cryptocurrency Holdings: A new taxation law introduced by the government will reportedly require the 15,000 strong cryptocurrency investor community to reveal their holdings. A strict penalty of 5,000 EUR has been placed on people filing inaccurate returns and asset declarations. The government has also opened investigations into banks and financial companies who are undertaking cryptocurrency transactions. Estonia 900 Blockchain Companies Launched in 1 Year: Estonia has attracted investment into the blockchain sector from around the world following pro-crypto policy implementations by the government. In one year alone more than 900 new licenses have been granted to cryptocurrency companies by the authorities. Poland Poland Suspends Tax Collection for Cryptocurrencies: The Polish government has announced the temporary lifting of tax collection for digital currencies that was introduced in March this year. The 18% and 32% tax imposed on cryptocurrencies was found to be hurting the sector and invoked a public response with more than 5,000 signatures asking for it to be pulled back. The government eventually bowed down to the pressure and suspended the tax system, albeit temporarily. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: BitcoinNews The post Europe: Crypto and Blockchain Ne

18 days ago

VanEck Subsidiary MVIS Launches Bitcoin OTC Index

MV Index Solutions (MVIS), a subsidiary of investment management firm VanEck, has announced the launch of MVIS Bitcoin U.S. OTC Spot Index (MVBTCO), a bitcoin-based index and the first one that monitors the performance of bitcoin across established over-the-counter (OTC) platforms in the U.S., according to a company statement.The index will cover the spot price of bitcoin from these OTC platforms: Circle Trade, Genesis Trading and Cumberland. MV Index Solutions helps to develop, license and monitor asset classes such as fixed income markets, equities and more, with the use of investment indices. The MVBTCO, which will track just bitcoin, increases MVIS's portfolio to 24 digital asset indices.Thomas Kettner, managing director at MV Index Solutions, commented in the release, stating the company was excited to launch a “bitcoin index based on the pricing feed of OTC trading desks,” which he believes would serve OTC traders as a “reliable benchmark for their trades or potential investment products.”Gabor Gurbacs, director of Digital Asset Strategies at VanEck/MVIS, calls the launch a great win for “greater transparency and price discovery” for institutional investors, which is necessary for the development of the digital asset space. In correspondence with Bitcoin Magazine, he said that he believes the index will bring greater legitimacy to a young market that has struggled to win the approval of regulators."Liquidity, price transparency and regulatory status were the 3 main reasons to build the MVBTCO OTC Bitcoin index. Over the counter-trading represents a large portion of daily BTC trading volume. Transparency to this segment of the liquid institutional OTC markets is a sign of maturity and proof that it’s possible to provide better regulated pricing sources from established trading operations. Trading operations in the index are broker dealers or affiliates of broker dealers, which is a higher regulatory status than crypto exchanges (trading platforms) have today. OTC trading desks are also far less susceptible to market manipulation." Going further, Gurbacs even indicated that he believes an index like MVIS could set the stage for more institutional-friendly, regulated investment vehicles, like the crypto industry's much sought-after ETF."MVBTCO’s constituents are regulated and the newly gained transparency into the institutional OTC markets should make regulators comfortable. . .I believe this development may pave the way for more regulated funds, such as ETFs," he told Bitcoin Magazine.The Bitcoin Index is expected to provide a new tool through which institutional investors can monitor the price of bitcoin. Up until now, data related to this has been derived from cryptocurrency exchanges. With this new index, they will receive transparent and more accurate data on pricing.Earlier this year, VanEck, the parent company to MVIS and fintech company SolidX, developed a physically backed bitcoin exchange-traded fund (ETF) and applied for it to be listed on CBOE BZX Equities Exchange. However, the U.S. Securities and Exchange Commission (SEC) has not deemed it fit to be approved. The agency had delayed its decision in August and again in September; it has now asked for comments from members of the public as it begins proceedings to decide whether or not to approve the VanEck/SolidX ETF.One reason for the delay in approving the ETF is the SEC's concern regarding market manipulation and illegal practices being carried out on cryptocurrencies and digital trading platforms. MVIS is VanEck's response to the concerns of the regulator, as the index uses a pricing source that builds on data from OTC counters that is subjected to “rigorous practices, regulatory-driven disclosures and client protection rules” — all measures that the SEC is looking to see in a bitcoin ETF.Earlier this week, the Swiss authorities gave the green light to blockchain startup Amun AG's offer to list a cryptocurrency exchange-traded product (ETP), which sources its pricing from VanEck's MVIS.This article was update to include quotes from Gabor Gurbacs, VanEck's director of Digital Asset Strategies. This article originally appeared on Bitcoin Magazine.

18 days ago

Daily Berminal Brief: Crypto ETP Begins Trading In Switzerland, And Singapore Government Invests In Blockchain Software Firm R3

The State of The Market - November 23, 2018 BTC: $4,315.20 (-3.91%) XRP: $0.409318 (-6.25%) ETH: $122.03 (-7.36%) The crypto market reached a new low today, as more than $10 Billion was wiped off from the market in a matter of few hours. The total market cap reached a new low of $136.21 Billion. The previous low was $140 Billion from early this week. Bitcoin also fell to a new low of $4,200. However, there was a slight rebound after that, and the market cap is at $139 Billion right now. Ethereum, for the first time, crashed to $120 in 12 months. All of the top 25 cryptocurrencies are flashing red right now. In other news, The Gibraltar Blockchain Exchange has cleared a regulatory hurdle and is now a fully regulated exchange. The blockchain exchange is a subsidiary of the Gibraltar Stock Exchange and received the license by the Gibraltar Financial Services Commission. The landmark regulatory event makes the Gibraltar Stock Exchange the first of its kind to own a fully licensed blockchain exchange. Also, Norway has put an end to subsidies for Bitcoin mining operations. The lifting of discounted rates, which goes into effect in January 2019, is the result of an amendment in the latest budget. Miners will have to pay the standard rate of $0.019 per killowatt hour, instead of the subsidised rate of $0.00056. 1) The Amun Crypto Basket Index (HODL) began trading on the SIX Swiss Exchange, one of the largest exchanges in Europe. This marks the world's first approved crypto ETF-like security trading on a major exchange. An ETP (Exchange Traded Products) is a derivative investment that is traded on securities exchanges, valued on the basis of another investment instrument, such as a commodity or a currency. In the case of Amun Crypto Basket Index (HODL), the value will be based on cryptocurrencies. 2) Singapore's state investment firm Temasek Holdings Pte has invested in enterprise blockchain software firm R3. Temasek is a Singapore government-owned investment company, with a portfolio of $235 billion. The investment comes after shifting its focus to new technologies like Blockchain and Artificial Intelligence (AI). Temasek was one of the 40 institutions that participated in R3's $107 million Series A last May. However, the exact sum invested by Temasek has not been made public. R3 is now the DLT solutions advisor to post-trade infrastructure giant Depository Trust & Clearing Corporation (DTCC). It provides processing services for over 98% of all credit derivatives transactions globally. 3) The Swiss Federal Railways (SBB) has successfully the completed proof-of-concept (PoC) of a system that uses blockchain to store credentials of workers employed. It hopes to replace the existing paper-based system with the blockchain-based audit-proof system. For safety reasons, construction sites have strict requirements regarding the qualification of workers. It ensures that unauthorised personnel are barred from entering the site. The solution was developed by blockchain startup Linum Labs using uPort, a project started by Ethereum design studio ConsenSys. (VS)

20 days ago

Cryptocurrency ETP Begins Trading on the SIX Swiss Exchange

Regulators in Switzerland reportedly has approved a cryptocurrency ETP(Exchange Traded Products), Amun Crypto Basket Index (HODL). It began trading under the ticker symbol HODL on the SIX Swiss Exchange, which is one of the largest exchanges in Europe. This marks the world’s first approved crypto ETF-like security trading on a major exchange. An ETP is a derivative investment that is traded on securities exchanges, valued on the basis of another investment instrument, such as a commodity or a currency. In the case of Amun Crypto Basket Index (HODL), the value will be based on cryptocurrencies. (RL)

20 days ago

Crypto Market Update Nov.20: Black November. Crypto crushes, is the bleeding over?

After a relatively long period of stability, the crypto markets suffered a significant blow, and the crash is now in full swing, as described by me last week. The price of Bitcoin has fallen around 30%, and the alternative coins, altcoins, have also been painted red with severe losses of up to 50%. After the hype of 2017, the crypto market has had a tough year both in terms of regulations and trade, even for the HODLers. However, in a fundamental analysis of the market, we can see that the infrastructure is in steady development, and it seems that the market is aiming in a positive direction, but it is probably not enough to support the highly hyped prices of 2017. It is not customary to look for reasons for the volatility. However, if we must, then we can see the tightening regulations around ICOs as a possible reason. It is also possible that the internal wars in Bitcoin Cash was another catalyst for the recent declines. The war in Bitcoin Cash is underway, and mining is still being done at a loss along with wasteful maintenance of the network. It is possible that the financing of the Bitcoin cash war will lead to the decision by the various parties of the waste, bringing the entire market down. Whether it’s an ego war or a conspiracy, it’s never boring in the crypto market. In conclusion, after talking about the market floor, we received another painful correction that reminded us of the volatility of the market exposing the investors to an unexpected risk. From here we hope to find the bottom soon so that the investors will not be harmed and lose confidence in crypto. The crypto market cap is shrinking, and is now at $145 billion, trading with higher volumes than we have seen in the last few months (yesterday was the highest volume day since April). Dominance remains stable - around 53% in favor of Bitcoin. Crypto News Lightning Network Surpasses $1M BTC Capacity, 4,000 Nodes. The network for solving Bitcoin’s scalability problem has seen massive growth in the midst of a bear market. Over 4,070 nodes now support the network while the average age of each node is just 137 days old. SEC Orders AirToken and Paragon To Refund ICO Investors: AirToken Gained 70%. The ICO startups have been charged by the regulators to return the money they gathered from their offering in 2017, on the basis that they flaunted U.S Securities Law. They Saw Everything We Did For a Year: Exclusive evidence by an ICO maker about the SEC’s Efforts. According to an ICO maker, the U.S SEC does not have a reason to hunt down ICOs since they also monitored their activities during the boom in 2017. Major Swiss Stock Exchange SIX Lists World’s First Multi-Crypto ETP Amidst Market Collapse. A first-of-its-kind fund tracking the top five cryptocurrencies by market cap has been launched on the Swiss Stock Exchange, Europe’s fourth-largest stock market. The “Walmart” Of Venezuela Has Started Accepting Bitcoin. In the midst of their ongoing economic crisis, Tarki, a departmental store in the South American city has begun accepting bitcoin and four other cryptocurrencies from customers. Bitcoin Ban is Impossible in India, say the Experts. A rumored plan by the Indian government to ban Bitcoin will not be possible according to experts. The decentralized nature of cryptocurrencies means this is impossible. Charts Bitcoin Traded around $4,400 the rapid decline broke all the trend lines. There is a chance of a breakthrough attempt that will test the resistance, but this will happen after the falls have stopped. Meanwhile, support is being built around $4,300, and it is hard to say how long it will hold. If the declines continue, the next step will be marked at around $3000, where the end of the correction appears in the technical analysis, which will be very painful to the holders. var tradingview_embed_options = {}; tradingview_embed_options.width = '790'; tradingview_embed_options.height = '475'; tradingview_embed_options.chart = 'FLDSCocY'; new TradingView.chart(tradingview_embed_options); Ethereum Against the dollar traded at a low of $138 and also touched at $127 still not clear whether it is the floor. Also, resistance cannot be determined yet. The big question is whether Ethereum will succeed in getting through the coming period with its head over $100. var tradingview_embed_options = {}; tradingview_embed_options.width = '790'; tradingview_embed_options.height = '475'; tradingview_embed_options.chart = 'icg3KNh3'; new TradingView.chart(tradingview_embed_options); Against Bitcoin traded at 0.03BTC, around the support of the recent period. In this range resistance at 0.032BTC. Against Bitcoin, the picture looks different when the price is trading above the floor we saw in September, and it seems that in the meantime it holds. var tradingview_embed_options = {}; tradingview_embed_options.width = '790'; tradingview_embed_options.height = '475'; tradingview_embed_options.chart = 'M3C60QSd'; new TradingView.chart(tradingview_embed_opt

23 days ago

Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETF

New.Bitcoin.com has confirmed that the exchange-traded product tracking an index of five leading cryptocurrencies will start trading on Switzerland’s principal stock exchange on Nov. 21. The exchange has also confirmed that this product is not an exchange-traded fund (ETF). The country’s financial regulator, Finma, explains the differences. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Differences Between ETPs and ETFs The news of the cryptocurrency exchange-traded product (ETP) by Zug-based Amun AG having been approved by Switzerland’s principal stock exchange, Six Swiss Exchange, spread throughout the crypto community over the weekend. The product tracks an index of five major cryptocurrencies: BTC, XRP, ETH, BCH, and LTC. While Amun’s website refers to this product only as an ETP, some believe that it is an exchange-traded fund (ETF). ETPs and ETFs are two different products, listed under different categories on Six Swiss Exchange. A spokesperson from Finma, Switzerland’s financial regulator, told news.Bitcoin.com: It is important to separate ETPs from ETFs, as ETPs are not subject to the Collective Investment Schemes Act (Cisa) and are therefore not supervised by Finma. Noting that ETFs “are funds that are traded on an exchange and normally track the performance of an index,” he emphasized that “In Switzerland, these products are subject to the Cisa.” A spokesperson from Six Swiss Exchange also confirmed to news.Bitcoin.com that Amun Crypto is an ETP, not an ETF, adding that the product will start trading on Wednesday, Nov. 21. The exchange clarified: ETPs are collateralized, noninterest-earning bearer debt securities which replicate an underlying [asset] (generally from the commodities sector), either on a regular or leveraged basis. Like ETFs, they trade in a multi market-making segment, but in legal terms they are not funds. ETFs, ETPs and ETNs On its website, Six Swiss Exchange detailed different types of “passive financial products in Switzerland.” The first two on the list are ETF and ETP. The document indicates that ETPs include exchange-traded notes (ETNs) and exchange-traded commodities (ETCs). ETNs are a type of debt security that trades on exchanges and promise a return linked to a market index or other benchmark. ETCs also trade on exchanges but provide exposure to commodities and commodity indices. Furthermore, ETFs and ETPs also carry different risks. “ETFs are separate pools of assets,” Swiss Funds and Asset Management Association described in its report on ETFs and Index Funds. “In the event of the insolvency (bankruptcy) of the provider (e.g. the fund management company or custodian bank), the assets and rights of the ETF can be segregated, and there is no issuer risk in this regard.” Debt securities, however, “often entail an issuer risk that is hard to calculate,” the report author noted. Public Misunderstanding Led to Trading Suspension XBT Provider’s exchange-traded products have also been misunderstood by the public. In September, the U.S. Securities and Exchange Commission (SEC) temporarily suspended trading of the company’s products — Bitcoin Tracker One and Ether Tracker One — due to the inconsistencies of their descriptions. The commission wrote: The broker-dealer application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as ‘exchange traded funds (ETF)’ ... Other public sources characterize the instruments as ‘exchange traded notes (ETN)’. In addition, the SEC noted that “the issuer characterizes them in its offering materials as ‘non-equity linked certificates’,” which “are not principal protected” and “do not bear interest.” Citing “a lack of current, consistent and accurate information” of the two investment vehicles which resulted “in confusion amongst market participants regarding these financial instruments,” the SEC justified its decision to suspend their trading. What do you think of Amun Crypto ETP trading on Six Exchange? Let us know in the comments section below. Images courtesy of Shutterstock, Six Swiss Exchange, and Finma. Need to calculate your bitcoin holdings? Check our tools section. The post Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETF appeared first on Bitcoin News.

23 days ago

BTC Market Overreaction: Bitcoin Now Drastically Oversold

The market is down again, and the current price trajectory is bringing new lows not seen for over a year. Bitcoin (BTC), normally the most stable asset in the room, has fallen through all of its price levels. Some doom-mongers are savoring a fall to zero and the Bitcoin bulls are worried. But is this fear justified? Well, maybe not. Stochastics aren’t often used in crypto technical analysis. In brief, they are used to indicate momentum: a convenient means to show changing trends before they are reflected in the prices. For this reason, stochastic indicators can also be used as a metric for when an asset is overbought or oversold. Bitcoin’s stochastics indicate the recent price slide has taken the coin just below the 20 price range, suggesting the market has oversold the asset. In technical terms, this means that BTC is trading below its market value. It’s essentially an overreaction to bad news, such as last week’s Bitcoin Cash (BCH) hard fork, which will most likely correct once the dust settles and the market cools. Bitcoin’s stochastic line (blue) fell below 20 today, suggesting BTC has been oversold. Via TradingView. BTC Falls Below Support The stochastics chart appears to confirm analysis that BTC is below its support levels. The sell-off over the past seven days took bitcoin below its floor price of approximately $6,200 per coin; traders lost hold of any guide rails for their decisions. With the downwards trajectory getting more steep, BTC holders are offloading to salvage some of their investment value. It’s not just technical data that suggest this slide is an overreaction. In perhaps one of the most poorly-timed announcements of the month, Swiss authorities have approved the world’s first Bitcoin exchange-traded product (ETP), created by the UK fintech firm, Amun Crypto. The ETP basket will begin trading next week: 50% will be made up of Bitcoin; the other half will consist of Ether (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC). Many readers will remember the market’s obsession with Bitcoin exchange-traded funds (ETFs) over the summer. CBOE (of Bitcoin futures fame) submitted an application, which the SEC postponed. Some had already criticized CBOE’s ETF proposal as too exclusive, being designed solely for institutional use. One of the main advantages of the Amun Crypto ETP, according to the company’s CEO, Hany Rashwan, is that it allows both institutions and retail investors to participate. “The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies,” Rashwan told the Financial Times. “It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.” Financial instruments, like the Amun Crypto ETP, are a vindication for cryptocurrency holders. It’s a sign of a sophisticated market, one which regulators will allow in their jurisdictions. Bitcoin bulls aren’t extinct yet Bitcoin’s recent slide does not bode well for its price outlook. Moving averages are hardly promising, and the recent meltdown has made full recovery an even more distant possibility. But it’s likely that Bitcoin’s price will hit a soft landing. Investors are used to BTC going for roughly $6,300; today’s plunge is an opportunity to buy at a $1,000 discount. When the market recovers from its momentary panic, developments like the Amun Crypto ETP will fuel further prices rises. Crypto Briefing has previously suggested that what stopped a bull run a few weeks ago was a lack of momentum. But this could change. Bargain buying and a positive reaction to the ETP news could reverse the losses incurred over the past seven days. With sufficient velocity, the BTC price could rise back above its support levels. Today the market is in the dumps, but the Bitcoin bulls could return...with a vengeance. The author is invested in BTC and ETH, which are mentioned in this article. The post BTC Market Overreaction: Bitcoin Now Drastically Oversold appeared first on Crypto Briefing.

24 days ago

Bitcoin Price Watch: New Lows for Everyone’s Favorite Cryptocurrency

Bitcoin is in very bad shape. There’s no sugarcoating the facts. After falling to $5,500 a few days ago, the weekend took a nasty toll on the cryptocurrency’s price and bitcoin is now trading for under $5,000. The news is quite shocking. The father of crypto has fallen into the high $4,900 range, where it’s been for roughly 48 hours. This is by far its lowest point in over a year, and with just over 40 days left in 2018, the rest-of-the-year price prediction doesn’t look anything but bearish. The main sentiment is that the bitcoin cash hard fork had negative bearings on the currency’s position, but there are other reasons for the fall as well. Justin Litchfield - chief technology officer at Pro Chain Capital - explains: “The selloff is related to enforcement, which is almost certainly underway. Projects are being made to return investor money, which, after having spent a ton of money marketing their $100 million initial coin offering (ICO) on a lavish party-filled roadshow that was the norm for this vintage of ICOs, will be tough.” At press time, the Securities and Exchange Commission (SEC) has enforced strict civil penalties against two cryptocurrency companies that failed to abide by the governing body’s registration processes. Their ICOs were not registered as securities, and now AirFox and Paragon Coin Inc. are each paying the price... A price of roughly $250,000, to be exact, in penalties to compensate what the SEC claim are wronged investors. In addition, both ventures will now be required to register their digital tokens as securities, and you can bet the SEC is going to be breathing down their necks the entire step of the way. The fact that both companies are being forced to pay back their investors raises serious questions about whether similar companies that held ICOs and similar funding events will be made to do the same. At the time of writing, the crypto industry has lost a whopping $660 million since its January peak. However, a positive light is shining at the end of the tunnel in the form of the world’s first bitcoin exchange-traded fund (ETF), which was recently approved in Switzerland, a nation known for “Crypto Valley” and its loose regulations regarding digital assets The ETF - known as Amun Crypto ETP - will be officiated via the country’s main digital exchange and is set to go live over the next few days. ETF partners Jane Street and Flow Traders will look to ensure there’s enough liquidity once it becomes available, while institutional investors are expected to show growing interest in the project. Though it’s impossible to say for sure, the ETF could potentially put a halt to the bearish conditions facing bitcoin and even inspire another short-term rally by December. Bitcoin Charts by TradingView The post Bitcoin Price Watch: New Lows for Everyone’s Favorite Cryptocurrency appeared first on NullTX.

24 days ago

BTC/USD Price Analysis: Prices Recover Hours after Amun Bitcoin ETP Approval

Latest Bitcoin ETF After 10 years of evolution, adaptation and maturity, Bitcoin is no longer a “fad”. By the general definition of money, Bitcoin is the future. BTC is the perfect store of value, a unit of account, fungible and most importantly acts a medium of exchange. Aside from being a global phenomenon, the security, privacy and its general traction may be the reason why the main exchange in Switzerland gave the green lights for the world’s first Bitcoin ETF, Amun Crypto ETP. The Bitcoin ETF shall go live in the next few days and the official partners, Jane Street and Flow Traders—market markets shall ensure there is enough liquidity once it rolls out. Switzerland launches first "Bitcoin ETF" SIX Swiss Exchange launching ETP, tracking multiple #cryptocurrencies and beating the US to the #Bitcoin #ETF punch. Amun Crypto ETP, will be 50% Bitcoin $BTC, while the other half will be shared between $XRP, $ETH, $BCHABC and $LTC. — Naugs (@CryptoNaugs) November 18, 2018 This is indicative and cements the direction institutions are taking as they position themselves ahead of the coin’s massive adoption. The Amun Crypto ETP shall comprise of Bitcoin and four other liquid coins as Litecoin and XRP. Interesting Read: In 2017 Bitcoin Went From $5.5k to $19k in 33 Days, Not Impossible in 2019 However, BTC shall make up half of the ETF opening up doors for institutions to pour their money into a product that meet the same stringent measures as traditional ETF. Overly, the market is expectant that the SEC might go ahead and approve the Van Eck ETF as that will perhaps be the only route to tame and satisfactorily regulate the crypto market. You May Like: Bitcoin ETF Hopefuls Speak to SEC in Closed-Door Meeting BTC/USD Price Analysis Weekly Chart Thing is, Bitcoin is stable and week over week losses are low. After recording upwards of 20 percent weekly losses on Nov 14, prices have been steady and are now just 14 percent down in the last week. These higher highs point to BTC demand in lower time frames perhaps in response to the approval of the first Bitcoin ETF and the expectation of institutional involvement. Overly, BTC/USD is technically bearish and could sink to new levels as prices trade in line with the bear breakout pattern that saw several support levels crashed in the last few days. Of note is the high level of market participation confirming bears of the last 11 months. Unless otherwise there are rapid gains above $6,000, traders should be unloading BTC on every pullback. Ideal stop lies at $6,200 with first sell target at $4,500. Daily Chart Like historical patterns, BTC/USD prices could recover in response to rapid losses of Nov 14. In that case, aggressive traders should pause their trading as BTC/USD bulls try to recoup losses as prices strike a natural equilibrium. Regardless of these lower time frames higher highs, the general trend has been set following last week’s declines. Ideal sell zone lies between $5,950 and $6,200 and depending on where bears pick up, safe stops would be at $6,200—the upper level of our resistance level. All Charts Courtesy of Trading View Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision. BTC/USD Price Analysis: Prices Recover Hours after Amun Bitcoin ETP Approval was last modified: November 19th, 2018 by Dalmas NgetichThe post BTC/USD Price Analysis: Prices Recover Hours after Amun Bitcoin ETP Approval appeared first on NewsBTC.

24 days ago

Primeiro ETF de criptomoeda do mundo aprovado na Suíça

Por: Livecoins O primeiro Exchange Traded Product (ETP) de criptomoeda do mundo começará a ser negociado na próxima semana na SIX Swiss Exchange, que é a quarta maior bolsa da Europa, com uma capitalização de mercado de US $ 1,6 trilhão. De acordo com a Trustnodes, Hany Rashwan, co-fundador e diretor executivo da Amun AG, a startup de criptomoedas que recebeu a luz verde para listar um fundo de índice em uma bolsa de valores tradicional, disse: “A ETP da Amun dará aos investidores institucionais que estão restritos a investir apenas em títulos ou não querem estabelecer a custódia de ativos digitais expostos a moedas criptografadas. Ele também fornecerá acesso para investidores de varejo que atualmente não têm acesso a corretoras de criptomoedas devido a impedimentos regulatórios locais. Depois de explorar isso em 23 diferentes corretoras e territórios ao redor do mundo, nós nos estabelecemos na Suíça”, disse Hany Rashwan. “Acreditamos que a Suíça seja a melhor jurisdição para nossa base e pretendemos, após o lançamento de nossos produtos iniciais na SIX Swiss Exchange, lançar produtos adicionais e também em regiões geográficas e bolsas de valores adicionais”. Family Offices und Institutionelle im Fokus: Fintech Amun holt Mark Rodino für neue Kryptoasset-ETPs https://t.co/IK8dMsZbji / dasinvestment — H.Steup@MaklerTweet (@MaklerTweet) November 14, 2018 Um ETP é o termo genérico sob o qual o ETF pertence, que é um tipo de produto específico dentro dessa faixa mais ampla. A tendência geral tanto no mercado quanto na mídia é usar ETF e ETP como termos perfeitamente intercambiáveis. As Notas ETN são tecnicamente uma dívida não garantida do emissor, mas as colateralizam com criptomoedas. Os ETFs são os mais populares, porque você está basicamente comprando o ativo subjacente sem ter que assegurá-lo, delegando esses aspectos ao emissor e seus parceiros. O ETF oferecido pela Amun AG A Amun AG, uma startup de criptomoedas, está oferecendo um fundo que permitirá aos investidores institucionais investir nas principais criptomoeda, como bitcoin, ethereum, ripple, litecoin e bitcoin cash. Hany Rashwan, CEO e co-fundador da empresa, disse que o ETP proporcionará uma oportunidade para os investidores institucionais que estão restritos a investir apenas em títulos e também dar a mesma oportunidade a investidores de varejo que não podem acessar as corretoras de criptomoedas devido pressão regulatória. O CEO também disse que antes de escolher a Suíça, a companhia explorou outros 23 destinos ao redor do mundo, mas achou a Suíça a mais adequada. O ETF permitirá que os investidores invistam no mercado de criptomoedas como um todo. Quando os investidores estiverem investindo em um fundo, um valor igual ao seu valor de compra será mantido em seu nome pelo custodiante. O artigo Primeiro ETF de criptomoeda do mundo aprovado na Suíça apareceu primeiro em Livecoins.

24 days ago

Daily Cryptocurrency News - 18th November 2018

Here are the most important headlines of the cryptocurrency space for November 18th, 2018 Switzerland’s First Bitcoin-Cryptocurrency ETF Just Got Approved Switzerland, one of the most powerful countries from the economical point-of-view, managed to get the first Bitcoin-cryptocurrency ETF approved. After creating the first digital identity pilot on Ethereum blockchain, the country launched their first crypto related ETF. The Bitcoin ETF - with the ticker $HODL - was offered by Amun Crypto. Switzerland’s first Bitcoin ETF will be live on Switzerland’s Six Swiss Exchange next week. Six is Switzerland’s leader on stock exchanges, and also the 4th largest one in Europe. As FT reported, the ETF “ has been designed to track an index based on the movements of five leading cryptocurrencies.” 48% of the ETF will be placed into Bitcoin, 30% into XRP and the rest of it into Bitcoin Cash, Ethereum and Litecoin. The ETF has been created according to the expected standards, giving institutional investors a new way to invest into crypto. Hany Rashwan, Amun’s top executive declared: The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments Michael Said..ETF Switzerland is approved, and will start trading next week, uhmm bull run is coming soon baby, buy now or you will Pay bitcoin with money more.. :*#indodax #bitcoin #cryptocurrency #CryptoExchange #crypto #cryptonews #investor pic.twitter.com/OY8TfMgVOj — Bos Crypto (@boscryptocnn) November 18, 2018 As Switzerland approved the first Bitcoin related ETF - It could possible lead the way for a USA approved Bitcoin ETF in the short future. The crypto markets gained around $4 Billion in the last 24 hours and some people are preparing for a possible short term bull run. Bitcoin 2018 Evolution - The Similarities Between 2014 & 2018 in Crypto 2018 wasn’t the best year for cryptocurrency investors nor for the short term hodlers. Most of the people that managed to get a profit in 2018 are the Bitmex traders which took advantage of the bear market and short the Bitcoin’s price. But a reddit user called boppleton did a comparison between the price of bitcoin in 2014 and the one from 2018. As we may see from the image, the graphs looks almost the same. This leads us to the question, will the history repeat itself? Bitcoin in 2014 had a bad year as the Mt Gox hack took place and a lot of investors lost their interest in the cryptocurrency space. Afterwards, the price dropped a lot, finishing the year in the $300 zone - a massive pull-back from the $800+ value. The evolution in 2015 wasn’t great either. The price reached values close to $200, but finished the year with a value above $400. From that point on, Bitcoin started growing. until this year. The drop from 2014 was perfectly justified, but in 2018 doesn’t feel like it. However, the history can repeat itself. It will probably take a few more months - but we could see a small Bitcoin bull run at the beginning of 2019. A big issue for Bitcoin in 2017 were the high fees. There were some times when a transaction had a cost of $50. Now, its not the case. The network is working properly and the Lighting Network is getting better day by day. Right now, Binance recently paid $7 for a transaction of $600 millions. And using other cryptocurrencies like XRP or NANO could lead to a lower transaction fee, but exchanging those funds for liquidity would be harder. This transaction was also the largest unspent transaction output existing today and it proves the usability of the Bitcoin’s network. As you may know, the bitcoin network’f fees are based on the computer resources require to store the information, not the amount paid. Therefore, someone could sent $1 billion from point A to point B and pay around $10 for it. CNBC’s Ran Neu-Ner Talks About Buying Ripple The host of CNBC Africa’s “Crypto Trader” just made a bold statement while talking about the “Bitcoin Cash Civil War”: “These hash wars highlight why everyone should dump BTC and BCH and just put all their money into XRP!” Of course, he didn’t this on air. The ‘joke’ was made from Ran Neu-Ner’s personal account. Ran is also the co-founder of the Onchain Capital, “a fund management business that offers eligible investors professional portfolio management services within the emerging Blockchain and CryptoAsset class,”. This probably came as a result of his earlier poll. The poll was created to check which is the favorite cryptocurrency of his followers. And he managed to get an unexpected result. The results of this poll really surprised me - they show we really have a big problem in Crypto. I REALLY thought American Airlines miles would do way better!!! pic.twitter.com/9HsKaFr7Zx — Ran NeuNer (@cryptomanran) November 18, 2018

24 days ago

Largest Swiss Exchange to List World’s First Crypto ETP Under HODL Index

Switzerland’s major stock exchange SIX Swiss Exchange will list the world’s first crypto-based exchange-traded product (ETP) next week, the Financial Times reported Saturday, November 16. The product, dubbed the “Amun Crypto ETP,” is backed by Amun, a London-based financial technology firm, and will be listed under index HODL. It will track five major cryptocurrencies: Bitcoin

24 days ago

Switzerland Approves to First Crypto Exchange Traded Product

While all eyes are still glued to the Securities and Exchange Commission in the United States to give a verdict on the first Bitcoin ETF, the Swiss regulators have just raced ahead. According to the latest updates coming from Switzerland, the main stock exchange has given a green light to the world’s first exchange-traded product tracking multiple cryptocurrencies. Swiss take the lead in the Bitcoin ETF/ETP race As the BTC prices hit the lowest point for the year, Swiss regulators took the opportunity to bring some cheer to the market as they announced the world’s first cryptocurrency-based exchange-traded product. The Amun Crypto ETP, which will start trading next week on the SIX exchange in Zurich, has been designed to track an index based on the movements of five leading cryptocurrencies. The ETP has been set up in a way where just under half of the ETP’s assets will be invested in bitcoin with the remainder divided between XRP (25.4 per cent), Ethereum (16.7 per cent), bitcoin cash (5.2 per cent) and Litecoin (3 per cent). The ETP will carry an annual management fee of 2.5 per cent. Hany Rashwan, co-founder and chief executive of Amun, a London financial technology company, said the cryptocurrency ETP had been constructed to meet the same strict standards required of conventional exchange-traded products widely used by investors. He was quoted speaking to Financial Times where he said “The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments,” There are two rival providers, CoinShares and Greyscale, already offer digital currency investment vehicles, but these are different legal structures and linked to single coins making Amun Crypto ETP the first in this category. Jane Street and Flow Traders, two specialist market makers, have provided seeding for the Amun ETP and agreed to act as authorized participants. The ETP will trade under the ticker Hodl, a nod to a favourite exhortation adopted by cryptocurrency investors — “hold on for dear life” — in response to the wild volatility that has roiled the market. While Swiss have given a go ahead, US regulators have rejected multiple applications to launch cryptocurrency exchange-traded funds because of concerns that such vehicles could expose investors to “fraudulent and manipulative acts and practices”. Now all eyes will be on the institutions on how do they use this product to make their investments in cryptos. An inflow of capital here may propel other regulators also to consider regulation for similar products. Will this acceptance by the Swiss regulators change the stance of the US SEC as well? DO let us know your views on the same. The post Switzerland Approves to First Crypto Exchange Traded Product appeared first on Coingape.

24 days ago

World’s First Listed Crypto Basket ETP Will Go Live on Swiss Stock Exchange This Week

Swiss startup Amun AG is launching this week an Exchange-Traded Product (ETP) that tracks a basket of the top five digital currencies by market capitalization and liquidity, giving investors an opportunity to get exposure to the crypto market without having to own digital assets. The firm got the final approval for the offering from the SIX Swiss exchange and will have its ETP index listed this week under the ticker HODL5. Crypto Based Exchange-traded Products: The Journey so Far Industry enthusiasts had been pushing for a crypto-based Exchange-Traded Fund (ETF) for months only to hit several regulatory barriers over concerns of market manipulation and market surveillance. However, a number of ETPs launched to make up for the lack of ETFs in the crypto market, had been pushed forward with the aim to give investors a certain exposure to digital assets. Swedish investors, for instance, have an Exchange-Traded Note (ETN) called Bitcoin Tracker One available for trade on the Nasdaq Stockholm Exchange, and this was made open to US investors as of last August via traditional brokerage accounts. On the other hand, Greyscale has also launched for US investors a similar ETN called Bitcoin Investment Trust in 2013. Yet both products only reflect a single digital asset price, which is Bitcoin’s. Back in September 2018, Amun AG’s CEO spoke to Bloomberg about the progress made so far by his team towards launching a Crypto ETP, and the main triggers behind developing such an investment vehicle. He revealed: “This was born out of our frustration at seeing vast swathes of the world excluded from easily participating in the digital assets’ revolution We want to make buying crypto as easy as buying a stock.” In fact, Amun AG is a Zug-based Fintech startup. Hany Rashwan, its CEO, is an Egyptian young entrepreneur, a Columbia University alma mater who is well known to the Fintech startup scene and to Silicon Valley. Rashwan was one of the “20 under 20 list” of most influential young entrepreneurs compiled by Forbes in 2017. First Crypto ETP The Financial Times reported on November 16, that the Amun Crypto ETP would be listed this week on the Zurich based SIX Swiss Exchange. The latter is, in fact, Switzerland’s principal stock exchange, and the fourth largest in Europe with a market cap of 1.6 trillion USD. Amun AG held that their ETP index gives investors access to a “diversified market cap weighted and automatically re-balancing” basket of the top five crypto assets. 49.7% of the ETP’s asset will be invested in Bitcoin, 25.4% in XRP, 16.7% in Ether, 5.2% in Bitcoin Cash and 3% in Litecoin. Investors will reportedly be paying a regular 2.5% management fee annually on their investment in the ETP index. Should an investor buy a share, a market maker would purchase the equivalent amount of underlying cryptocurrencies and safely keep them in a custodian. So far, Jane Street and Flow traders were cited as the market makers that has provided seeding for the index. They will also reportedly act as authorized participants. Rashwan explained that the Amun ETP would give the opportunity to institutional investors accustomed to investing in traditional securities, or that do not wish to set up custodianship services for cryptocurrencies exposure to the nascent digital assets market. He added that the product would provide a gateway for retail investors “that have no access to crypto exchanges due to local regulatory impediments.” World’s First Listed Crypto Basket ETP Will Go Live on Swiss Stock Exchange This Week was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

24 days ago

Swiss Stock Exchange to List World’s First Multi-Crypto Based ETF

Swiss stock exchange SIX, the fourth largest stock exchange in Europe with a market capitalization of $1.6 trillion, has followed up on its commitment made back in June of this year to open its doors to cryptocurrencies. With this announcement, it is about to list the world’s first crypto-based exchange-traded product (ETP). Exchange-traded products (ETP) are a type of security that is derivatively priced and trades intra-day on a national securities exchange. ETPs are priced so the value is derived from other investment instruments, such as a commodity, a currency, a share price or an interest rate. Generally, ETPs are benchmarked to stocks, commodities or indices. They can also be actively managed funds. ETPs include exchange-traded funds (ETFs), exchange-traded vehicles (ETVs), exchange-traded notes (ETNs) and certificates. The ETP that is the most popular is the ETF, securities that track an index, commodity or basket of assets. SIX, backed by Swiss startup Amun AG, will track Bitcoin, Ripple, Ethereum. Bitcoin Cash and Litecoin with Bitcoin representing about a half of the ETP’s assets. The break down is XRP 25.4 at percent 16.7 percent in Ethereum, with Bitcoin Cash and Litecoin acquiring 5.2 and 3 percent of the market. Amun’s co-founder and chief executive Hany Rashwan is certain that as an ETF, the security complies with the same rigorous requirements of traditional ETPs. Amun AG’s ETP is a branch of the UK based fintech company Amun Technologies who hinted at a crypto ETP last month. Thomas Zeeb, head of securities and exchanges at SIX, sees blockchain-based digital exchanges becoming the status quo within a decade citing cost-effectiveness as a game changer within brokerage, banks, and insurance. In the US, ETFs have hit a brick wall after the US Securities and Exchange Commission (SEC) rejected at least eight proposals in August of this year. The hope is that at least one successful approval on ETF by the SEC would bring a tidal wave of institutional buyers to the market, picking up prices and moving Bitcoin in a long-awaited upward trajectory. For the hopefuls in the market, the track record so far isn’t good. In August, XBT Provider AB, a subsidiary of CoinShares Holdings Ltd released an exchange-traded note (ETN) called Bitcoin Tracker One in Sweden. Ryan Radloff, CEO of CoinShares Holdings commented at the time: “Everyone that’s investing in dollars can now get exposure to these products, whereas before now, they were only available in Euros or Swedish Krona. Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.” Experts are now suggesting that Bitcoin ETFs will be a “way bigger deal” than cash settlement Bitcoin futures contracts and a boon to the Bitcoin market moving forward. This move out of Switzerland’s “crypto valley” is seen as another step forward towards this end. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Swiss Stock Exchange to List World’s First Multi-Crypto Based ETF appeared first on BitcoinNews.com.

24 days ago

HODL: World’s First Crypto ETF Goes Live Next Week in Switzerland

The crypto community will finally welcome the first Exchange Traded Product (ETP) to be listed on a traditional stock exchange early next week, and it is happening in Switzerland. The landmark derivative was designed by a crypto startup, Amun AG, and will start trading on Six Swiss Exchange, Europe’s Fourth largest Stock Exchange with a market cap of over $1.6 trillion. Speaking in a report about the new product which was recently approved by Swiss regulators, Amun CEO, Hany Rashwan expressed confidence that the new ETF will open the door to mainstream crypto involvement. He said that the product would be a good fit for institutional investors who shy away from crypto because of its volatile nature and lack of regulation. Also, retail investors who up to this point have not traded cryptocurrencies because of “local regulatory impediments.” Inside the Crypto Exchange Traded Fund offered by Amun The new offering by the startup is scheduled to trade under the ticker “HODL” and will track the largest cryptocurrencies by a market cap which include Bitcoin (BTC), Ethereum (ETH), Ripple XRP, BCH (ABC), and Litecoin (LTC). The ETF is designed to automatically allocate client investments into the best performing cryptocurrencies in other to guarantee profitability over the period that they buy in. HODL ETF’s components. Source: ft.com At the time of writing this report, the fund consists of nearly 50% of Bitcoin and 30% of XRP, which is arguably the best performing crypto this year. There are smaller chunks of 20%+ split among the other altcoins. CEO Hang Rashwan believes that starting with an index basket that allows traders get exposed to various cryptos is the right way to start and also hope that more trackers will be added for each crypto in the future. Not in the United States While some members of the industry have kept a close eye on when the U.S SEC will approve a Bitcoin ETF, it is unsurprising that such a derivative product has been rolled out in a country with regulatory clarity around cryptos. As mentioned in the report, Switzerland was chosen as the right destination for Amun’s index fund after the startup considered over “23 countries.” There is even a little chance that the U.S was in that number because of the regulatory uncertainty which the SEC has created around the new asset class. So while we continue to look forward to the time when a crypto ETF goes live on a U.S stock exchange, we’ll take some time to savor the latest victory in Switzerland. The post HODL: World’s First Crypto ETF Goes Live Next Week in Switzerland appeared first on CryptoPotato.

24 days ago

Switzerland Approves First Bitcoin-Cryptocurrency ETF with Ticker $HODL

The Bitcoin ETF $HODL, offered by Amun Crypto, will begin trading on Switzerland’s Six Swiss Exchange beginning next week. The ETF’s earnings will be linked to five different cryptocurrencies. The ETF is being offered by Amun Crypto, a U.K. based fintech company. It will begin trading on Six Swiss Exchange next week. Six is Switzerland’s chief stock exchange, as well as the fourth largest in Europe. According to the Financial Times, the ETF “ has been designed to track an index based on the movements of five leading cryptocurrencies.” Roughly half (48%) of the ETF’s assets will be invested in Bitcoin (BTC) 00. The rest will be put towards bitcoin cash, XRP (30%), ethereum, and litecoin. New Kid On the Block Financial Times‘ writer Matt Flood notes that the ETF has been crafted in close accordance with the standards expected from traditional exchange-traded funds. This is according Hany Rashwan, Amun’s top executive. Rashwan describes the aims of the ETF: The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments The Times reports that while competitors like CoinShares and Grayscale exist, they differ in legal form, whilst only being linked to one cryptocurrency. Seeding for the ETF will be fostered by Jane Street and Flow Traders, and it will trade using the ticker $HODL. The Financial Times highlights the ETF’s arrival amid the lowest drop in BTC price 00 in over a year. The ETF is has been particularly the source of much hype in the cryptocurrency space. An exchange-traded fund product is expected to facilitate institutional buying of bitcoin. Michael Said..ETF Switzerland is approved, and will start trading next week, uhmm bull run is coming soon baby, buy now or you will Pay bitcoin with money more.. :*#indodax #bitcoin #cryptocurrency #CryptoExchange #crypto #cryptonews #investor pic.twitter.com/OY8TfMgVOj — Bos Crypto (@boscryptocnn) November 18, 2018 Switzerland seems to be perpetually fixed in the crypto news cycle whether its happenings in Crypto Valley or the present ETF. Progress seems to abound. In October, Bitcoinist reported on Crypto AG’s recently-granted cryptocurrency asset management license. A month earlier, Bitcoinist also wrote on Switzerland’s status as a top global Bitcoin destination. What are your thoughts on the Bitcoin ETF $HODL? Share your thoughts below! Images and media courtesy of Shutterstock, Twitter (@boscryptocnn, @MANT121266), YouTube (ThinkCrypto). The post Switzerland Approves First Bitcoin-Cryptocurrency ETF with Ticker $HODL appeared first on Bitcoinist.com.

24 days ago

SIX Swiss Exchange to List the World’s First Multi-Crypto ETP

CoinSpeaker SIX Swiss Exchange to List the World’s First Multi-Crypto ETP On Friday, the Financial Times reported that SIX Swiss Exchange, Switzerland’s major stock exchange based in Zurich, approved the listing of the world’s first multi-crypto-based exchange-traded product (ETP). The news outlet informed: “The Amun Crypto ETP, which will start trading next week on the Six exchange in Zurich, has been designed to track an index based on the movements of five leading cryptocurrencies.” The “Amun Crypto ETP” is backed by Amun, a London-based financial technology firm. According to Hany Rashwan, the Chief Executive Officer (CEO) and co-founder of Amun, the crypto exchange-traded product was designed with a view “to meet the same strict standards required of conventional exchange-traded products widely used by investors.” Listed under index HODL, the ETP will track five major cryptocurrencies: Bitcoin (BTC), XRP, Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). On its website, Amun states: “Amun Crypto Basket Index tracks performance of the top 5 crypto assets in terms of market cap and liquidity, providing diversified exposure to the crypto space while using its proprietary methodology to effectively manage the volatility associated with less liquid/smaller crypto assets.” 50% of Amun’s ETP will be allocated in bitcoin, while XRP will make up a quarter (25.4%). Ethereum makes up one-sixth of the fund, with BCH and LTC consisting of the rest at 5.2% and 3% respectively. Cryptos tied to fiat currencies, such as Tether, are not included. An annual management fee of the Amun ETP will make up 2.5%. As Hany Rashwan said, the Amun ETP will be available for both institutional and retail investors. He explained: “The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.” The SIX Swiss Exchange believes that exchange-traded products are “secured bearer debt securities which don’t earn interest”, that is why “they are not subject to the Collective Investment Schemes Act (CISA). ETPs are not even supervised by FINMA.” The trading will start this week. The approval of a crypto ETP by the Swiss major stock exchange is a positive milestone for the industry, but not the first. An ETP already exists in the US market in the form of Grayscale Investment’s Bitcoin Investment Trust, and investors in the local market can purchase investment vehicles that represent the value of BTC. But not all the businesses are ready to follow the example. Recently, BlackRock, the largest asset management firm in the world with approximately $6.4 trillion USD in assets, said that despite their belief in cryptos, they would not launch an exchange traded fund for digital coins until the industry grows up a bit and becomes ‘legitimate’. About SIX Exchange SIX Swiss exchange is the main exchange of Switzerland based in Zurich. SIX operates a competitive infrastructure for the Swiss financial center, catering to a broad, international client base. The company provides services relating to securities transactions, the provision of financial information and cashless payment transactions. The SIX Swiss Exchange delivers fair and transparent trading in equities, bonds, sponsored funds, sponsored foreign shares, exchange-traded funds (ETFs) exchange-traded products (ETPs) and structured products. The exchange uses the trading platform X-stream INET and trades primarily in the Swiss franc (CHF). SIX Swiss Exchange was the first stock exchange in the world to incorporate a fully automated trading, clearing and settlement system in 1995. The exchange is currently controlled by an association of 55 banks. The exchange is known for its friendly attitude to cryptos. Recently, the exchange stated that its blockchain based platform would replace traditional analog-centric systems in the near future. The head of security and exchange at SIX Swiss Exchange, Thomas Zeed, said: “The existing system could be completely replaced by the digital exchange in about ten years... The moment that brokers, banks, insurance companies, and big asset managers really see the cost advantages, they’ll move relatively quickly.” SIX is planning to launch the so-called “SIX Digital Exchange (SDX)” in 2019, which will initially run alongside the classical SIX system. SIX Swiss Exchange to List the World’s First Multi-Crypto ETP

24 days ago

Daily Berminal Brief: Bitcoin Crashes Below $5,300, Taking The Market To A New Low And Switzerland Approves World's First Crypto ETP

The State of The Market - November 19, 2018 BTC: $5,221.31 (-6.73%) XRP: $0.477899 (-6.77%) ETH: $154.83 (-11.91%) After the massive crash last week, some coins made a slight recovery by the end of the week. However, all of it was wiped off early today. Bitcoin dropped to a new low of $5,289. Along with it, the total market cap also crashed to $172 Billion. All of the top 10 cryptocurrencies are down by more than 10%. However, Ethereum suffered the biggest loss, further widening the gap between Ethereum and XRP. The market cap of XRP is now $3 Billion more than Ethereum. In other news, Hong Kong-based Hang Seng Bank has announced that it has successfully completed a pilot trade transaction for two corporate customers using the recently launched eTradeConnect platform. Hang Seng said that it facilitated an end-to-end blockchain transaction between Clover Group International Limited and Regina Miracle International Limited for the sale and purchase of apparel accessories. Also, as the drama and talk of a hash war resulting from the recent Bitcoin Cash (BCH) fork begins to die down with BCH ABC appearing to have come out on top, the billionaire co-founder of Bitmain, Jihan Wu tweeted what could be the final nail in the coffin for the Craig Wright backed fork. He is expected to dump 1 million BSV once the exchanges start listing it. 1) On Thursday Switzerland's Six Swiss Exchange will ring a ceremonial bell to mark the listing of it's first Crypto Exchange Traded Product (ETP). The fund has been under development for about 1.5 years, and Amun AG CEO Hany Rashwan explained that he and his team built a "blockchain enabled fund administration platform" that powers the entire ETP system." The platform will handle the settlements and clearing. The ETP functions differently than an ETF as it is not based on futures. 100% of the ETP must always be backed by the underlying asset, and this means that whatever an investor purchases, it must be backed by the same amount of crypto-assets which are then stored by a qualified custodian. At the moment, XRP accounts for 30% of the index's distribution, and there is a passive management fee of 2.5%. 2) Bitmain and Ebang Hong Kong Initial Public Offering (IPO) in doubts after Canaan allowed its application to lapse last Thursday. Experts believe regulatory challenges and market volatility have hindered crypto-related organizations from selling shares. According to eToro's Jasper Lee, Ebang might suffer the same fate as Canaan while Bitmain has a chance to go public as it has enough time to address regulators' concerns. 3) BCH-ABC is mining nearly empty blocks while BCH-SV blocks are growing in size. This is possibly occurring because very few transactions are actually taking place and the BCH mempool has been empty for a while. Bitcoin-Cash SV (BCH-SV), on the other hand, is mining large blocks and this is not a surprise since the fork promoted itself on the ability of 32MB blocks and even larger in the future. The last 20 blocks have a few small blocks but many of them are 3MB, and a few go as high as 20.5MB to 32MB. This shows that the BCH-SV chain is processing a lot of data and as the hard-fork war continues, traders should also keep an eye on the number of blocks produced, whether they are empty or not, and the hash rate of each blockchain. (VS)

24 days ago

Switzerland's Crypto ETP Begins Trading on November 22

On Thursday Switzerland's Six Swiss Exchange will ring a ceremonial bell to mark the listing of it’s first Crypto Exchange Traded Product (ETP). The fund has been under development for about 1.5 years and Amun AG CEO Hany Rashwan explained that he and his team built a “blockchain enabled fund administration platform” that powers the entire ETP system.” The platform will handle the settlements and clearing. The ETP functions differently than an ETF as it is not based on futures. The ETP must always be backed by 100% of the underlying asset and this means that whatever an investor purchases must be backed by the same amount of crypto-assets which are then stored by a qualified custodian. At the moment, XRP accounts for 30% of the index’s distribution and there is a passive management fee of 2.5%. (RS)

24 days ago

Switzerland Approves the First Cryptocurrency Exchange Traded Product

While every crypto enthusiast awaits the SEC to deliver its verdict on Bitcoin’s ETF, the Swiss regulators have approved the world’s first exchange-traded product that tracks multiple cryptocurrencies. This news came after Bitcoin hit its lowest point this year on Thursday. The developers of the Amun crypto ETP designed it to track an index based on the movements of five top digital assets. It is set to start trading this coming week on the SIX exchange in Zurich. Half of Amun ETP’s assets would be in Bitcoin while the remaining half would be in XRP (25.4%), ETH (16.7%), BCH (5.2%), and LTC (3%). (KE)

a month ago

Van Eck/SolidX Respond to SEC Regarding Bitcoin ETF Concerns

The SEC has previously voiced their concerns to Van Eck/SolidX with regard to their Bitcoin ETF proposal. The potential ETF issuers have now answered the commission and are awaiting further instruction. Since last year, Bitcoin and other cryptocurrencies have not only gained traction but have also sought to encourage even more adoption from both average people and institutional investors. The introduction of Bitcoin futures was one way and the potential launch of Bitcoin exchange-traded funds (ETFs) is another. While the former has achieved success since being introduced last year, the latter still has a ways to go. ETF Access Denied Denial has been the name of the game for many businesses that have proposed their own Bitcoin ETF, including the Winklevoss twins. The crypto world now waits with bated breath for the U.S. Securities and Exchange Commission’s (SEC) decision on the outcome of the Van Eck/SolidX Bitcoin ETF proposal. Live Bitcoin News recently reported that the SEC has requested more feedback from Van Eck/SolidX, including the potential offered for market manipulation. According to Benzinga, a private meeting was held between representatives of the two companies, the SEC, and the CBOE on the 9th of October. In addition to potential manipulation, the commission was also concerned about liquidity, valuation, arbitrage, and custody. Van Eck/SolidX proceeded to answer these concerns by showing how their processes cater to the requirements of the SEC. The commission has subsequently published the Van Eck/SolidX’s answers on the SEC website. The document added that CBOE BZX would be the listing exchange and that the share price will be 25 bitcoins per single share. While the document outlines the Van Eck/SolidX process and attempts to allay SEC concerns, it might not be enough. SEC Commissioner Kara Stein believes that a high level of accuracy is required as well as easy access to investor funds. She explained: At the end of the day, whatever fund presents a concept to us will have to show how they can get accurate valuations, how they make sure that there is physical custody, and how to make sure that there is adequate liquidity, especially in a 40 act fund context, where investors can get the money when they need their money. Van Eck/SolidX Raises Concern In the published document, Van Eck/SolidX also raised their own concern that the SEC has the potential to continually shift the goalpost. It refers to the commission’s refusal for a 2017 Bitcoin ETF proposal, stating: The Commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop. Should such markets develop, the Commission could consider whether a bitcoin ETP would, based on the facts and circumstances then presented, be consistent with the requirements of the Exchange Act. Van Eck/SolidX believes that the term “significantly” is open to interpretation and that the SEC has never given a clear answer on what they constitute as significant. Even so, the document concluded that they will make any changes deemed necessary by the SEC to ensure approval. Do you believe that the Van Eck/SolidX Bitcoin ETF has a chance of getting approved? Let us know in the comments below! Images courtesy of Shutterstock. The post Van Eck/SolidX Respond to SEC Regarding Bitcoin ETF Concerns appeared first on Live Bitcoin News.

a month ago

Cryptocurrency Market Update: Crypto Consolidation Continues

FOMO Moments Sleepy Sunday in crypto land; Veritaseum making a move, Ravencoin flapping. It is another slow Sunday in crypto land with markets still slumbering. There has still been no movement for most of the major cryptocurrencies leaving markets at the same level around $210 billion. Still at the same level a touch below $6,500, Bitcoin is static. BTC has traded at the same price range for the past two weeks and has not been able to get anywhere near $6,600. Ethereum is also immobile for another day trading at just below $205. Yet again the altcoins are mixed and there really isn’t much to write about. Nothing is gaining more than a percent on the day in the top ten and Stellar has declined the most falling back over 2% to $0.228. The top twenty shows equal torpor with more red than green. Iota and Nem have dropped just over 2% and Dash is not far behind. There are no altcoins making gains until we get way down the chart, and even those are small. No major fomo pumps going on either today as the markets sleep. The top performer in the top one hundred at the moment is Veritaseum climbing 8% on the day. Polymath and Metaverse ETP are both up just over 7% and Decentraland has made 6.5% at the time of writing. Dropping between 5 and 6 percent at the red end of things is Ravencoin, Aion, Bytom and Golem. Total market capitalization is still at $209 billion, exactly the same level as this time yesterday. Over the past week markets have ranged between $212 and $208 billion, unable to break out in either direction. The crypto bears are keeping things firmly on the floor and markets haven’t really done much since early September. A real recovery looks a long way off at the moment and this lethargy could continue for another month or more. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Market Update: Crypto Consolidation Continues appeared first on NewsBTC.

a month ago

🎃👻 Halloween Discount on ETH & ETP Token Swap🎃👻 Enjoy di...

🎃👻 Halloween Discount on ETH & ETP Token Swap🎃👻 Enjoy discounted exchange rate for limited time only! #Halloween… https://t.co/BWIMJd8Lgn

2 months ago

Cryptocurrency Trading Update: Sapling Keeps Zcash Green in Red Crypto Market

FOMO Moments Crypto land is still stagnant; Zcash, Ravencoin and MobileGo on the up, Decred and Bitcoin Diamond dumping. There has been another slight pullback today on crypto markets but nothing noteworthy. The sideways channel is still intact and total market capitalization is still at the same level it has been for the past ten days. There has been no movement in the Bitcoin camp overnight and it is still trading at $6,490 where it has been for over a week. While no movement is bad for day traders, it is good for overall stability and lowering that volatility that the institutions keep complaining about. Ethereum is still falling with another percent lost today taking ETH down to $202. Red is the dominant color on the altcoin charts at the moment. In the top ten Stellar has taken the biggest hit with a 3% slide to $0.236. The rest are down just over a percent at the moment while Tether still tries to claw back its peg. USDT is currently valued at $0.989 on Coinmarketcap. There is only one climber in the top twenty, and that is Zcash making 5% on the day to reach $127. The upcoming activation of the Sapling update on October 28 is currently driving momentum for ZEC. Activation block 419200 will be mined October 28, 2018 18:21 UTC-05:00 assuming 150 seconds/block. Learn more: https://t.co/MuhVtIFA6m #Zcash #Sapling pic.twitter.com/dXr2WbEOEe — Zcash Company (@zcashco) October 24, 2018 Over the past seven days Zcash has made 8% but on the month it is flat, trading at the same price again. South Korean traders are all over ZEC this morning with Bithumb taking over 50% of the volume in KRW. The rest of the top twenty are falling between one and three percent right now. There are a couple of fomo pumps going on as usual way down the top one hundred charts. Ravencoin, MobileGo, Veritaseum, Komodo and Metaverse ETP are all making 13-17 percent on the day, however tomorrow they will likely dump. Speaking of dumps, yesterday’s winners, Bitcoin Diamond and Decred, are losers today, dumping around 12%. The cycle continues with different altcoins but none can hold on to their gains at the moment. Total crypto market capitalization has dropped a little today, falling back a percent again to $208 billion. Aside from the pump and dumps from low cap altcoins nothing else is happening right now. Both the bulls and the bears are sleeping and it is all calm in crypto land. FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals. The post Cryptocurrency Trading Update: Sapling Keeps Zcash Green in Red Crypto Market appeared first on NewsBTC.

2 months ago

Bitcoin [BTC] fights the bear market on the back of ETF bull

Bitcoin [BTC], the ruler of the market with a dominance of 53% over the rest of the cryptocurrencies, continues to shine like a diamond. The coin has had several positive news surrounding it over the past couple of the days. The release of the memorandum regarding the Cboe VanEck, SolidX ETF by the US Securities and Exchanges Commission [SEC] and the announcement by the ICE regarding the launch of Bitcoin Futures contract in December has revived the hope of an approved ETF in the market. The memorandum revealed that during the meeting, the representatives from VanEck, Cboe and SolidX clarified all the pointers which were mentioned during the rejection of the proposed rule change. The memorandum further claimed that all the identified issues were resolved. Issues resolved by the Trust | Source: SEC The three of them claimed that Cboe’s rules are consistent to Section 6[b][5], which underlined that the rules of exchanges should prevent fraudulent and manipulative acts and practices. This was mentioned by the SEC for the rejection of the ETF. Cboe’s rules | Source: SEC The next point which was clarified was related to the safety of the investors, where they mentioned that the Trust $125 million of insurance capacity “from a syndicate of A-rated underwriters.” They further added that efforts are in place to increase the amount of insurance. Structure of Trust is consistent with Section 6[b][5]: clearing | Source: SECThe Trust also spoke about the pre-requisite which was mentioned during the rejection of the ETF in March 2017. The rule stated: “The commission notes that Bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop. Should such markets develop, the Commission could consider whether a bitcoin ETP would be based on the facts and circumstances then presented, be consistent with the requirements of the Exchange Act.” To this, they stated that there was a clutter in terms of SEC’s definition of “significant size” of Bitcoin-related markets. Earlier this week, New York Exchange’s parent company, Intercontinental Exchange announced that they would launch Bitcoin Futures contract on their cryptocurrency exchange platform, Bakkt. This announcement sparked wild celebrations in the Bitcoin community, with the majority claiming that this would change SEC’s stance on Bitcoin ETF, including Mike Novogratz. The Bitcoin Futures contract is set to enter the market in December, however, it is yet to get the green signal from the SEC. Ran NeuNer, host of CNBC Crypto Trader said: “I can confirm after SEC discussions, the below statement is true post the meeting held with new SEC commissioner Elad Roisman.This means,a Bakkt,physical settled futures that requires actual purchase of BTC & ETF which also requires purchase in the next 6 months, you do the math.” Crypto Bobby, a Twitterati said: “I’ll believe the Bitcoin ETF when I see it... until then, it’s a bunch of news outlets guessing in the dark trying to be the first ones to break a story” Andy Hoffman, another Twitterati said: “Don’t forget that 9 #Bitcoin ETFs are scheduled to be decided on by the SEC before THIS Friday - and that the SolidX/VanEck ETF will likely be decided on by year-end. Potentially game changing crypto news, as NO ONE expects anything positive!” The post Bitcoin [BTC] fights the bear market on the back of ETF bull appeared first on AMBCrypto.

2 months ago

ViewNodes Baker Discounted Fees + ETP Rewards

Hi guys, I recently came across this baker while doing a search on tzscan, and found out that they actually have a reward scheme tied to Metaverse ETP, I think it’s one of the few bakers out there that allows dynamic service fees and integrates another blockchain in the mechanic. Link: https://tzscan.io/tz1aiYKXmSRckyJ9EybKmpVry373rfyngJU8?default=delegation The baker is called ViewNodes, and ViewFin is the company running this masternode. After doing some research, I found out that ViewFin has been in crypto since 2014, and they are actually the team behind the Metaverse blockchain and RightBTC Exchange, which also happens to list Tezos on 4 trading pairs. Their official website ViewNodes link is here: https://viewfin.com/viewnode/tezos/ What is interesting about this particular baker is that they are offering discounted fees if you lock in your ETP for a certain amount of cycles. I took a screenshot of the discounted fee structure: https://i.imgur.com/uVTteJv.png The normal fee is 15%, but if you are able to lock in at least 200 ETP for 10 days, you’ll get the 12.5% service fee, and you can go as low as 3% if you have a large amount of ETP to lock. This is definitely an interesting way of operating a baker that allows more diversity out there in the ecosystem, and the connectivity between Tezos and Metaverse plus the RightBTC Exchange looks really good for expanding Tezos. What do you guys think?

2 months ago

#Metaverse ETP will join the listing campaign on @kucoincom ...

#Metaverse ETP will join the listing campaign on @kucoincom and we sincerely need your support. Please join the off… https://t.co/pwEXvEHwTU

3 months ago


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