Metaverse ETP ETP

$0.6266
Market Cap $ 34.492 MM (#99)
24h Volume $ 1.157 MM
Chg. 24h: -0.21%
Algo. score 4.1/5  (#32)
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Metaverse ETP News

Exchange Wash Trading Continues To Stain The Crypto Industry

One cryptocurrency brought more love to its token holders than most, last week. At just before midnight (GMT) on Thursday 14th February 2019, Crypto.com (MCO) tokens were trading at approximately $2.10. After a sudden massive increase in trading volume, they reached a high of $2.97 by the next day. But there’s no clear reason why MCO should have had such an abrupt price movement. Its most significant shift upwards took place three days before the overall market moved the same way. There hadn’t been any particularly bullish news from Crypto.com, a mobile wallet app and prepaid card solution, which would obviously account for the increase demand and move the price. An announcement about some new features didn’t arrive until today, February 19th. It was a bolt out of the blue, a Christmas Valentine’s Day miracle. MCO price movements over the past seven days. Credit: CryptoCompare But MCO’s trading activity could point to something more suspicious. Volumes rocketed up, from $3M on Thursday midnight to a peak of $174M by Saturday afternoon. Most of the trading stems from one very specific place. Data collected by CoinMarketCap indicates that more than 65% of MCO market activity comes from Bit-Z: of that, 53.7% - approximately $7.8M - was with a Bitcoin (BTC) trading pair and 12.8% with Ether (ETH). When Crypto Briefing first started looking at MCO trading activity, on Friday, we noticed that a staggering 80% of all MCO volume - valued at $83M at current prices - came solely from Bit-Z’s MCO/BTC trading pair. MCO isn’t alone in having an abrupt change in value; similar trends are all over the market. The gaming coin, WAX, as well as ARK, the native token for a shared blockchain ecosystem, both saw very positive price action. Even with the strong gains across the market, these were far above the average trends. By midday on Monday, WAX was up by 48%, ARK by 41%. With both, the most active markets were the Korean Won (KRW) pairs on the South Korean exchange, UPbit: 65.5% and 61.9%, respectively. It’s a different picture today. WAX is down by nearly 20% and ARK by 8%; most of yesterday’s gains have now been erased. As with MCO, there’s no apparent reason for this activity. It just happened. What’s behind these price spikes? These movements could point to wash trading, in which an exchange creates multiple accounts on its own platform and uses trading algorithms to buy and sell with its own accounts. This helps to drive the price up and attracts retail investors, who buy believing they too will profit from the upwards trend but who are, in actual fact, buying at an inflated price. After a time - sometimes days, sometimes weeks - the algorithm stops trading and the price and volume collapse. Although not illegal in all jurisdictions, wash traders essentially profit from the illusions they create. One trader, who asked that they and their firm remain anonymous, explained to Crypto Briefing the practice was “very familiar,” especially on some Asian exchanges which sign deals with ICO projects in exchange for a share of coins from the token sale. “They [exchanges] have deals with ICO’s,” the trader said. “They pump news out on WeChat and other social media outlets and sell the coin to the retail investors. They then pull the plug on their algo [algorithm] and the price collapses and there’s no volume.” There’s no definitive evidence that either Crypto.com or Bit-Z are complicit in any manipulation; nor is it clear that wash trading is responsible for the irregular price movements. Many crowd-sized price manipulation conspiracies, or “Pump and dump” schemes exist openly, bidding prices upwards in order to entrap unwary buyers. Crypto Briefing approached both Crypto.com and Bit-Z for comment but hadn’t received any reply from either team by the time we went to press. Wash traders rinse and repeat Wash trading has a few tell-tale signs. The biggest tell is a sudden, unaccountable spike in the prices, which soon return to normal levels. That’s what happened with both WAX and Ark. Our source also suggested another example was the Metaverse ETP (ETP) surge, where prices pumped from approximately $0.55 to a high of $4 between June and October of last year. Primarily found trading on the TopBTC exchange against the Chinese Yuan, in mid-November the ETP price promptly collapsed, falling by as much as 80%. In their December report, the Blockchain Transparency Institute (BTI) highlighted that the vast majority of exchanges grossly inflated their trading volumes. So much so, that out of the 25 biggest BTC pairs that month, the report estimates that around 80% of the reported volume was wash traded. Many exchanges are “grossly wash trading their volume,” the BTI report says. “These exchanges continue to use these strategies as a business model to steal money from aspiring token projects.” An estimated 4% of the volume on Bit-Z’s BTC-USDT is actually genuine, according to the report. The rest, it said, was probably artific

2 days ago

Bitcoin [BTC] exchange player XBT had suspended launch of crypto basket after lacking knowledge about BCH hard fork, admits CEO

The Swedish Bitcoin [BTC] exchange operator XBT provider AB had revealed that they were planning to launch an ETP or exchange-traded product based on crypto basket last year. The launch was pulled out after they learned of the BCH split that resulted in the development of the Bitcoin Satoshi Vision [BSV]. Bloomberg reported that XBT CEO Laurent Kssis admitted of having “no clue” of the Bitcoin Cash [BCH] hard fork. The Swedish agency of financial supervisory authority also ratified for the process. Kssis was oblivious about Bitcoin SV that was launched during the fourth quarter of the 2018 financial year. Citing the need for an assessment before the implementation of ETP, the CEO stated: “It’s important to ask how the community is responding to the split and who’s going to support one asset versus the other. If we get it wrong, these assets will drop and if they’re part of the basket we can’t go back because it’s in the final term-sheet.” The Swedish honcho revealed to Bloomberg that the company intends on studying how the crypto space rolls out before playing its cards in launching the crypto basket. Bloomberg strategist, Mike McGlone, talking about hard forks in the space, said: “Hard forks are indicative of some of the primary issues in cryptos pressuring prices.” McGlone made a notable point in terms of how the investors from the non-crypto background perceive this ever-fluctuating space of virtual assets. He further stated: “The overall issue is rapidly increasing crypto supply and negative signals for potential institutional investors of how still nascent the market is.” The number of Initial Coin Offerings [ICO] has now declined in 2019. As per a report published by Icobench, the average funds raised during the past two weeks dwindled below $5 million. The Bloomberg report further suggested that miner profitability has significantly gone down. The cryptocurrency market has failed to recover from the massive bust. Mainstream adoption has not been achieved as expected. Litecoin Foundation recently tweeted on its Twitter handle: “It’s estimated that 99.58% of the world does not own #cryptocurrencies yet.” The high volatility of this space is sometimes incomprehensible for institutional investors. This drives them into believing that the market sphere is not worth investing. In most of the cases, the scalable aspects of digital assets take a back seat, with criticisms surrounding forks dominating the digital space. The post Bitcoin [BTC] exchange player XBT had suspended launch of crypto basket after lacking knowledge about BCH hard fork, admits CEO appeared first on AMBCrypto.

6 days ago

XBT Provider AB’s Plan to Launch Crypto ETP Spoiled by Bitcoin Cash

According to a recent report, AB, an XBT provider, had plans to launch an exchange-traded product (ETP) in the form of a crypto basket last year, but the plans were spoiled by one of the digital assets. According to the report from Bloomberg, Laurent Kssis, the CEO of XBT, “had no idea” about the potential of the BCH hard fork. According to Kssis, “It’s important to ask how the community is responding to the split and who’s going to support one asset versus the other. If we get it wrong, these assets will drop and if they’re part of the basket we can’t go back because it’s in the final term-sheet.” (VK)

7 days ago

Bitcoin Cash Spoils XBT Provider AB’s Plans for a Crypto ETP

XBT Provider AB planned on launching an exchange-traded product (ETP) in the form of a cryptocurrency basket last year but backed out because one of those cryptocurrencies spoiled the party. Can you guess which one? As suggested by a report from Bloomberg, XBT CEO Laurent Kssis “didn’t have a clue” about the potential for a Bitcoin Cash (BCH) hard fork — which happened late last year —...

7 days ago

VanEck has refiled its bitcoin ETF proposal, but there are some changes

Cboe Global Markets sent a shockwave through the cryptocurrency world when it pulled the most-watched application for a cryptocurrency exchange-traded fund earlier this month. BitcoinCboe withdraws VanEck Bitcoin ETF, but the asset manager is not giving up hopeRead MoreThe so-called SolidX Bitcoin Shares ETF, which is a collaborative effort by asset manager VanEck and SolidX, was filed to list on Cboe, a Chicago exchange operator, in 2018. The application was pulled during the partial U.S. federal government shutdown, a few weeks before it would have faced a verdict from the Securities and Exchange Commission on its listing. VanEck CEO Jan VanEck said in an interview with CNBC the firm would refile once the SEC returned to work. The firm made good on that promise, refiling the application — but not before making a few changes. In total, the new application is about 40 pages longer. The additions aim to counter the SEC’s concerns about a bitcoin ETF, including that the underlying spot market is not properly regulated or monitored to catch nefarious activity. In a new section on page 10, VanEck claims that the SEC has not provided sufficient insights into what it means when it says a bitcoin ETF would require a “significant regulated market.” VanEck then argues the SEC has previously approved ETFs without the fund issuer outlining how the respective underlying markets for their product met such a designation. “Of particular interest is the approval order for the Breakwave Dry Bulk Shipping ETF (the “Shipping Futures ETF”) which is designed to provide exposure to the daily change in the price of dry bulk freight futures: an ETP that provides exposure to a unique underlying instrument with no direct precedent for approval,” VanEck wrote. “The Approval Order includes no additional analysis that specifically discusses whether the markets with which the listing exchange will be able to share surveillance information related to freight futures, which the Shipping Futures ETF will invest substantially all of its assets in,19 are significant regulated markets,” the firm added. The firm then compared the liquidity of bitcoin futures versus the freight futures. The SEC has cited the lack of liquidity in bitcoin markets as one of the reasons it is not ready for an ETF. “For instance, the notional average daily volume for Bitcoin Futures in the third quarter and fourth quarter of 2018 were more than $150 million and $121 million, respectively, as compared to the estimate of $50-100 million per day for freight futures,” VanEck noted. Elsewhere in the market, Gemini’s Winklevoss twins confirmed their commitment to getting a bitcoin ETF off the ground during an Ask Me Anything on Reddit. The twins, who tried to get a fund tracking bitcoin approved in 2017, said they “are committed as ever to making an ETF a reality,” according to a CoinTelegraph report. In Switzerland, traders went wild for a ETN product tracking cryptocurrency markets. The so-called Amun Crypto Basket ETP began trading on Switzerland’s Six Exchange at the end of 2018 and it quickly had the highest volumes of any exchange-traded product on the venue. Still, its turnover of $30,000 per day is a tiny fraction of the volumes the exchange’s top ETFs see. The post VanEck has refiled its bitcoin ETF proposal, but there are some changes appeared first on The Block.

20 days ago

Bitwise files to list bitcoin ETF on NYSE Arca

Bitwise, the crypto asset manager, filed a Form S-1 with the Securities and Exchange Commission to list its physically-held bitcoin ETF on NYSE Arca, the company announced Thursday. The bitcoin ETF has been a long awaited darling of the cryptocurrency world, and a derivative some think could propel the market out of the doldrums and into bullish territory. Still, the SEC has pushed back on all bitcoin ETF applications thus far, citing concerns of manipulation in the underlying spot market. Bitwise says its product will be based on an index that draws data from large, trustworthy, exchanges. It also will hold bitcoins for the product with a regulated custodian, the firm said. The firm says those qualifications would address the concerns regulators have had about other proposals. “The SEC has asked thoughtful and relevant questions about the quality of the crypto trading ecosystem, the reliability of crypto pricing, the strength of the arbitrage function in crypto and the robustness of crypto custody,” said Matt Hougan, Global Head of Research, who oversees the company’s indexing efforts. “We have spent the past year researching these questions and look forward to discussing those findings with the SEC staff in connection with the filing and listing application.” Elsewhere in the market, Gemini’s Winklevoss twins confirmed their commitment to getting a bitcoin ETF off the ground during an Ask Me Anything on Reddit. The twins, which tried to get a fund tracking bitcoin approved in 2017, said they “are committed as ever to making an ETF a reality,” according to a CoinTelegraph report. In Japan, regulators are looking into approving a potential ETF, as per a Bloomberg report. In Switzerland, traders went wild for a ETN product tracking cryptocurrency markets. The so-called Amun Crypto Basket ETP began trading on Switzerland’s Six Exchange at the end of 2018 and it quickly had the highest volumes of any exchange-traded product on the venue. Bitwise also applied in July 2018 for the “HOLD 10 Cryptocurrency Index Fund”, which would be the first ETF to track multiple cryptocurrencies weighted by market cap. The post Bitwise files to list bitcoin ETF on NYSE Arca appeared first on The Block.

a month ago

To all miners and exchanges who support Metaverse ETP, Due...

To all miners and exchanges who support Metaverse ETP, Due to the recent turbulence in hash power, we ask that yo… https://t.co/X1EHV9C3YC

a month ago

Japan’s Financial Watchdog Hints at Its Readiness to Approve Crypto ETFs

CoinSpeaker Japan’s Financial Watchdog Hints at Its Readiness to Approve Crypto ETFs Japan’s Financial Services Agency (FSA) declined to modify domestic legislation to allow crypto derivatives, like futures and options products, in December 2018. However, the financial watchdog is quite optimistic about exchange-traded funds and is mulling over the approval for crypto ETFs in the country. As was reported by Bloomberg, an anonymous source stated that the Financial Services Agency is currently gauging industry interest in ETFs tracking digital currencies. Last month, Japan’s financial regulator barred such instruments as Bitcoin futures or Ethereum options to avoid stoke speculation, which was a setback for investors. The decision to not allow trading crypto derivatives on financial exchanges is a way of protection. A year ago, Japan’s Tokyo-based exchange Coincheck reported having lost $500 million worth NEM tokens overnight, which left the global cryptocurrency market in a big shock. FSA then raided Coincheck in order to “ensure the preservation of clients’ assets.” Meanwhile, ETFs tracking could change the situation. Apart from keeping the interest of potential investors alive, it could lead to bullish outcomes for the underlying assets and bring institutional capital into the sector. On the other hand, Japanese retail investors have not publicly expressed their desires to invest in a crypto ETFs, as they have a number of alternatives in traditional markets’ stock and bond funds. The conclusions made by FSA will serve as a backbone for a bill the Liberal Democratic Party will probably submit during the current Diet session that ends in March. The bill, which would also bring in more self-regulatory oversight of the industry and class many ICO tokens as securities, could come into law by 2020. Earlier, FSA approved a cryptocurrency self-regulatory body. Moreover, Japan worked on ways to simplify tax filing system for cryptos. Will Japan Follow the U.S. SEC? Exchange Traded Fund (ETF) is a security that is used to track the value of a basket, a bond, a commodity, or a stock index and is tradeable on exchanges. ETFs allow mainstream traders to speculate on the crypto economy without having to personally possess digital assets. In the U.S., some participants are planning to launch such products, however, the Securities and Exchange Commission (SEC) has not yet approved them. Back in August, SEC issued a rejection order to nine Bitcoin ETFs that were filed by Direxion, ProShares, and GraniteShares. The two ProShares Bitcoin ETFs and the five ETF proposals from Direxion were to be listed on NYSE Arca. The remaining two ETF proposals were from GraniteShares that were set to be listed on CBOE exchange. Such a decision was made to ‘prevent fraudulent and manipulative acts and practices.’ In December, SEC postponed a decision on a product from VanEck/SolidX until February. Whether Japan will allow bonding exchange-traded instruments with the realm of cryptocurrencies or not, we will see later. Japan may become the first nation to follow Switzerland which became home to the first such product when it listed the Amun Crypto Basket Index ETP in November. Japan’s Financial Watchdog Hints at Its Readiness to Approve Crypto ETFs

a month ago

Japan reportedly exploring Bitcoin [BTC] and other cryptocurrency exchange-traded funds [ETFs]

The whole cryptocurrency market has been waiting for the approval of a Bitcoin ETF by the U.S. Securities and Exchanges Commission [SEC], with the hopes that it would drive up the institutional investors in the space. Up until now, the commission has only rejected the proposals made with regards to the Bitcoin ETF. However, as the commission continues to prolong the approval of the exchange-traded product, other countries have started to step up and look into the benefits of a Bitcoin ETF. The latest one being Japan, one of the leading countries in terms of cryptocurrency adoption. According to a Bloomberg report, the regulatory body of the country could approve the exchange-traded fund that “track the asset class”. This marks as a significant move by the Financial Services Agency [FSA] as the regulatory body had recently decided to the vote against the approval of cryptocurrency derivates. Additionally, the FSA has taken several measures in terms of regulating the cryptocurrency space, in the light of the CoinCheck hack, which resulted in the loss of over $534 million, making it the biggest hack since Mt. Gox. The report stated: “The conclusions will likely serve as a backbone for a bill the Liberal Democratic Party will probably submit during the current Diet session that ends in March, with the eventual goal of becoming law as early as 2020, the person said.” Along with this, the report also stated that there would be a few changes in the Payment Services Act because of the recommendations made by the regulatory body. Notably, Japan is not the only country interested in an exchange-traded fund. Last year, news broke that Switzerland regulatory body approved an ETP, making it the very first country to do so. SIX Swiss Exchange, Switzerland’s main stock exchange, announced the trading of Amun Crypto ETP. The ETP is designed to track an index of the top five cryptocurrencies in the market, Bitcoin [BTC], XRP, Ethereum [ETH], Litecoin [LTC], and Bitcoin Cash [BCH]. The ETP was launched towards the end of the year, November 2018 and has reportedly witnessed a massive success. The post Japan reportedly exploring Bitcoin [BTC] and other cryptocurrency exchange-traded funds [ETFs] appeared first on AMBCrypto.

a month ago

Daily Berminal Brief: Total Market Cap Declines by $5 Billion

There has been a pullback in the cryptocurrency market today as the total market cap has fallen by roughly $5 billion over the past 24-hours and currently sits around $130.55 billion. The price of Bitcoin has fallen by 2.48% and is currently trading at $3,832, with second ranked Ethereum has declined 4.11% and trades at $148.58. There is one major outlier amongst the top 100 coins, Metaverse ETP (ETP), which has seen its price skyrocket by 206.94% and is currently trading at $1.82. (JF)

2 months ago

BIG NEWS! Metaverse Global Ambassador Program is seriously O...

BIG NEWS! Metaverse Global Ambassador Program is seriously ON with the new year, It's time to earn your free ETP by… https://t.co/KCTDiy9qsW

2 months ago

Crypto Market Update Dec.18: One Year Passed Since Bitcoin’s ATH. Following The Correction, What’s Next?

Exactly a year ago Bitcoin set a new record and crossed the $19,000 mark. However, the crypto market is unstable, and uncertainty regarding the correction is still present. Nevertheless, it is impossible to ignore the green wave of the last 24 hours as most of the market begins to climb back. Bitcoin is up 5%, and EOS is up around 30% and ranks fourth among the cryptocurrencies with a market cap of $2.1 billion, just after Ethereum, as it is being signaled as an alternative platform for smart contracts. However, it should be remembered that this may be a bull trap and another wave of falls may be waiting around the corner. It is also important to note that recently the trading volume has not risen sharply and has remained quite stable. The large fluctuations indicate that fear has affected the market in recent falls and has hurt demand. As soon as the demand returned some investors woke up, and the rate started to rise again. However, it is important to remember that the market is not yet sufficiently efficient and its overall value is affected by large players that can manipulate the price and it will take time until this reality changes. Another interesting observation is the trend that while Wall Street signals falls, the crypto market is waking up. This is a recurring phenomenon, but it is not certain whether this is a causal relationship and it is possible that this is just a speculation. Another thing to look at is the CME contracts. In fact, shortly after the start of futures trading, the bear market started in Bitcoin. The last contracts from July will end on December 28, and it will be interesting to see what the position will be this time. The dominance is 54.4% for Bitcoin, and the total market cap is $112 billion. Crypto News & Headlines CFTC Seeks Public Comments on Ethereum and Crypto-asset Mechanics. The Commodity Futures Trading Commission (CFTC) published a call for public comments and feedback that will allow it to understand the Ether token and its use in the Ethereum network. $133M Funded Project Shuts Down With No Warning. Sources revealed that a promising stablecoin project, which raised $133m last year, will go off the radar because of a rumored conflict with regulatory requirements. New Fake Trading Volume Research Casts Positive Light on Bitfinex and Binance. Newly published research on the real trading volume of 25 exchanges reveals that Binance and Bitfinex are not among those employing fraudulent tactics to boost their popularity. Bitcoin-Powered Stock Trading: A New Use Case for BTC? How do you like the sound of trading traditional stocks with profits and losses fully paid in BTC? A newly launched platform called WCX is making this possible. Swiss Bitcoin Etp Sees Record Volume As Institutional Investors Buy The Dip. A Bitcoin Exchange Traded product which was launched in November on the Six Swiss Stock Exchange has continued to grow despite the bear market, leading to suggestions that institutions are buying Bitcoin at a low. New US Chief of Staff: Bitcoin is Good, ‘Not Manipulable by Any Government’. President Donald Trump has appointed a pro-bitcoin politician Mick Mulvaney as Chief of Staff who said that the cryptocurrency could not be manipulated. U.K. Cryptocurrency Exchange Cubits Shuts Down After $33M Scam The London-based digital asset exchange has disallowed deposits and withdrawals of funds on their platform following a $33M fraudulent activity on the exchange in January. Chart Analysis This week we have chart analysis of Bitcoin, Ethereum, Bitcoin Cash and Doge - Read more here. The post Crypto Market Update Dec.18: One Year Passed Since Bitcoin’s ATH. Following The Correction, What’s Next? appeared first on CryptoPotato.

2 months ago

Bitcoin’s Liquid Sidechain is Being Adopted by Swiss Finance Industry

Swiss IT consulting firm Inacta AG has become an official partner of Blockstream’s Liquid Sidechain for Bitcoin, the company confirmed December 17. Tokengate Meets Liquid Sidechain Inacta, one of many Blockchain-focused companies headquartered in Switzerland’s Crypto Valley in the town of Zug, also became the first token platform operator to support Liquid tokens. Billed as the first “production-ready” Bitcoin sidechain, Liquid launched in October this year, officials heading off initial criticism about the requirements it placed on Bitcoin network users. Now, Inacta says it wants to offer integration services for Liquid, which should “help financial institutions to leverage the benefits of the Liquid blockchain.” “Liquid technology has also been integrated in Inacta’s Tokengate, the platform for issuing digital assets in a manner fully compliant with laws and regulations,” the blog post continues. “This makes tokengate the world’s first platform supporting tokens on the Liquid network.” Blockstream’s Liquid Network partners also include Swiss stock exchange SIX, which itself has seen record trading of its Bitcoin exchange-traded product (ETP) as prices tanked. Crypto Valley Tops Growth Charts The news was the second involving Blockstream to surface Monday, the company also announcing the expansion of its Satellite project to provide Bitcoin network connectivity to users without an internet connection. The Tokengate partnership comes at an interesting time. After its bumper year in 2017, the ICO market subsequently fell on hard times, with projects crumbling at the hands of the very regulation Inacta hopes to leverage to succeed. Switzerland has meanwhile taken a more proactive approach to the sector than most, the company hoping to build what will serve as a “reference platform for fully compliant ICOs in Switzerland.” Crypto Valley itself has retained the faith of pundits despite the continuing cryptocurrency market downturn. Earlier this month, UK-based investment firm Atomico ranked the ecosystem the fastest growing tech hub in Europe. “Zug in Switzerland, home to a growing crypto community, ranked number one as the fastest-growing community overall,” its latest annual report summarized. What do you think about Blockstream’s Liquid Sidechain? Let us know in the comments below! Images courtesy of Shutterstock The post Bitcoin’s Liquid Sidechain is Being Adopted by Swiss Finance Industry appeared first on Bitcoinist.com.

2 months ago

Is Japan Negatively Affected By Over-Regulating Crypto? At Least By Looking at the JPY-BTC Markets

In the past few years, we’ve begun to see the benefits that can be accrued when countries take a more liberal approach towards regulating cryptocurrencies. Malta has established itself as a crypto hub for blockchain projects and major exchanges like Binance and OKEX. Switzerland has made far more progress than other countries in developing a legal framework for blockchain technology, as well as launching the world’s first crypto ETP (exchange-traded product). Both of these nations are seeing a boost in new blockchain businesses launched and operating in their country, which translates to higher tax revenue and early access to the innovations that these companies are developing. Similarly, in the past few years, Japan become a favorite destination amongst crypto entrepreneurs, investors, and exchanges. Japan had accepted Bitcoin as a legal payment method in early 2017. However, as a result of the major security breaches and scandals that erupted after the 2014 Mt.Gox Exchange bankruptcy, Japan has also slowly pulled back on its liberal approach, and now seems to be taking actions that resemble over-regulating and could stifle the growth of their dominant crypto market. Once such example is the Japanese Financial Service Agency (FSA), which seems to be passing laws that conflict with one another, first, the FSA granted players in the crypto space with ‘self-regulatory’ status, allowing them to respond appropriately to fraudulent activities they detect within their community to make the regulatory process more efficient. Then just one month later, the FSA released their own regulatory framework aimed at players in the crypto space (specifical regulations around cryptocurrency wallets that would force KYC rules to be put in effect). The self-regulatory system would have already been able to monitor and respond to fraudulent activities involving crypto wallets, so why did the FSA need to implement their own regulatory framework? The Japanese government seems to want their crypto sector to flourish, which simultaneously wanting to regulate it tightly. Impacts of over-regulation Stifling the growth of a highly innovate sector like the crypto could have very negative consequences for Japan. For one, it could restrict the countries growth rate. The Japanese Yen accounted for 40% of all Bitcoin trades around the world at the beginning of the year. Now the Euro has overtaken the YEN to become the second most liquidate FIAT trading pair with Bitcoin and Ethereum (first is the US dollar). Secondly, none of Japan’s crypto exchanges are currently featured on the top 10 list of Bitcoin trading platforms by volume. And lastly, Japan’s tax policies around crypto currency gains are driving away investors. Japanese congressman Takeshi Fujimaki has proposed that the government “reduce the taxation on crypto gains from 55 percent to 20 percent, completely eliminate crypto-to-crypto taxes and small payments, and allow investors to carry forward losses from previous years to ensure that they are not taxed after recording losses.” Ultimately, Japan needs to establish a clear stance of what they hope to achieve with their crypto sector; so they want it to flourish in a self-regulated environment? Or do they want to tightly regulate it to the point where Europe and the US quickly overshadow the early progress that Japan has made to push forward crypto adoption? The post Is Japan Negatively Affected By Over-Regulating Crypto? At Least By Looking at the JPY-BTC Markets appeared first on CryptoPotato.

2 months ago

Daily Cryptocurrency News - 12th December 2018

Here are the most important cryptocurrency news of 12th December 2018: Swiss Bitcoin ETP Volume Increase Day-by-day Right when Bitcoin had another fall, the volume on SIX Stock Exchange for the HODL ticker started to grow again. The ETP is a fully collaterized and non-interest-paying bearer debt security. In the ETP - Bitcoin have the larger percetange with 48%, Ripple (XRP) is the second one with 30%, Ethereum (ETH) with 17.6% and two smaller shares of Bitcoin Cash (BCH) and Litecoin (LTC). The ETP is not a subject to the Collective Investment Schemes Act (Cisa) and not supervised by Finma. What’s interesting about the recently created ETP was the record trading volume of 53,233 shares and 62,986 shares traded on 6th December and 7th December.These trades represent a massive increase since the monthly average of 20,000 shares traded per day and they also happen in the same time with the Bitcoin fall. Su Zhu, CEO at FX Hedge Fund, declared that ” “correlation between volume and price continues to be very strong at -68%.” Last Thurs and Fri we broke volume records again on the Swiss HODL ETF with 53,233 shares and 62,986 shares traded respectively. That coincided with the dip in BTC to 3.2k and ETH to near 80. The correlation between volume and price continues to be very strong at (-68%). https://t.co/Meuaa9MXCV — Su Zhu (@zhusu) December 11, 2018 He also notes that there’s a negative correlation between the volume and the price of the HODL ETP. The ETP’s volume increase as BTC price decrease and decreases as the price rises. And there’s more great news, it appear that the ETP buyers are mostly ‘hodling’ and accumulating, rather than trading: Swiss HODL ETF update: a very high % of the volume is net inflow. 27,244 shares on 23-nov led to 20,000 shares being created, and 16,727 shares on 26-nov led to 15,000 shares being created. This means users are holding, not trading-so this is a 400k USD a day fiat onramp. https://t.co/0WydLSKTJK — Su Zhu (@zhusu) November 28, 2018 Binance CEO Makes Bold Statement About Ripple (XRP) After a tweet by Joseph Young who claims that Coinbase may be anti-XRP as they have not listed it yet, Binance CEO - Changpeng Zhao - decided to express his oopinion too. The court case may take years. But if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too. It certainly doesn't look like a security to me, but that's just one person's opinion. — CZ Binance (@cz_binance) December 12, 2018 As any XRP hodler should know, Ripple is right now involved in a class action lawsuit that is set to take place in the federal court. The U.S. Securities and Exchange Commission (SEC) will decide if XRP is a security or not. Ripple’s executive team has explained so many times why they believe that XRP is not a security and wasn’t at any point in its existence. CZ’s opinion just add more power to the Ripple’s team declarations. His opinion may be right, but the XRP issue wasn’t solved yet. SEC has been really ‘quiet’ about cryptocurrencies lately. What we know so far is that BItcoin is not a security and Ether looks like it is not a security for now. Moreover, any ICO token is likely to be a security. And now, there’s time for the Ripple to be analyzed. SEC are currently waiting to see the result of the lawsuit. This process could take months, if not years. This process however should have such a big influence on the Coinbase listing. Coinbase can make XRP available for the users from other jurisdictions ( such as Asia) until a regulatory clarity could be set in U.S. too. IOTA Preparing For The ‘Coordicide’ IOTA is preparing to destroy its central node in order to reach their goal - total decentralization. The process is called a Coordicide - as the main coordinator of the network will be destroyed. The solution was proposed a few weeks ago and the team is moving forward to be ” the first project that fulfills Satoshi’s vision but without mining” : It's finally out. The #IOTA foundation has a specific solution for the coordicide. The centralization in IOTA will be gone pretty soon. Which then (if everything works as intended) makes IOTA the only and first project that fulfills Satoshis vision, but without mining, in 2019. — Tangleblog.com (@tangleblog) December 9, 2018 IOTA is now using a proof-of-work (PoW) algorithm that prevents any attacker from processing more than one-third of the network’s hash power. But the main coordinator needs to die in order for the network to be fully decentralized. And the team estimates that in 2019, that will take place and an alternative security mechanism will take its spot. There are no information yet about how the coordinator will be replaced, but their blog post consisting of four parts explains why its necessary to let it go and move to a better solution. Kraken Crypto Echange Considers Private Offering After $4 Billion Valuation Finance Magnates reported December 12th that K

2 months ago

Regulatory hurdles reducing Europe, Promising Crypto Christmas in Europe

All news that affects the crypto markets significantly usually comes either from Far East Asia (Japan and Korea) or Far West (Majorly USA). But the recent news flow from the past couple of months has shifted all eyeballs to Europe as the countries are making some serious attempts to make crypto investing friendlier. Regulatory hurdles reducing Europe Europe has been a very small crypto market in Europe despite huge potential thanks to regulatory hurdles presented by certain countries and regulators at European Union. But with recent news flow that is coming in shows that finally things are changing as Europe marches ahead to claim a much bigger role in the world of cryptocurrencies. The biggest market in Europe has been Germany and the nation hasn’t disappointed when it came to cryptos as well. According to the news Germany’s second-largest stock exchange, Boerse Stuttgart Group, is set to launch a cryptocurrency trading platform in the first half of 2019. The firm announced this week it has partnered with a local fintech company solarisBank to create an engineering infrastructure for digital assets trading. solarisBank, which operates with a banking license in the country, will also be Boerse’s banking partner for the venture. Another news that hit the markets again came from Germany where German blockchain start-up Bitwala announced that it has launched crypto banking in Germany. With this move, Bitwala claims to “close the gap between crypto and traditional banking,” The banking solution for Bitwala was (again) developed in partnership with local fintech start-up SolarisBank, which has a banking license and is fully regulated by the German financial regulatory authority Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB). Moving from German to Switzerland, where the world got its first crypto-based exchange-traded product (ETP). This move of listing a crypto-based ETP by SIX exchange in Switzerland ended almost a 2-year wait to get an exchange-traded product for cryptos. While the SEC is still far from approving a BTC ETF, Swiss Exchange has just moved ahead by a few steps as the volumes on the exchange for this crypto product are at all times highs. Moving ahead and Sweden’s Nasdaq already has Bitcoin ETN. In August 2018, the Swedish exchange of Nasdaq launched a new alternative, an overseas-listed instrument which allows U.S. investors to take a secure route to trade and investing in bitcoin. Although an exchange-traded note (ETN) — called the Bitcoin Tracker One — has been trading on the Nasdaq Stockholm exchange since 2015, It has recently started quoting in U.S. dollars. Though it was listed on the Swedish stock exchange, a U.S. dollar-denominated version was capable of allowing. global brokerages to offer it to American investors. These news flows haven’t gone unnoticed and even Joseph Young tweeted about the same Europe's crypto market has been relatively small for years possibly due to regulatory uncertainty. Some changes are starting to happen. 1. Germany's stock market investors to be able to trade crypto by next year2. Switzerland has Amun crypto ETP3. Sweden Nasdaq has Bitcoin ETN https://t.co/QsfBTfc7Gu — Joseph Young (@iamjosephyoung) December 13, 2018 With so much of fundamentally positive news flow coming in from Europe it looks like the continent is in the right direction towards becoming a crypto friendly region. As more countries open up to cryptos, the adoption and use of the coins will be way beyond just trading and speculating. Will Europe be able to set an example for other regions on how to move mainstream with cryptos? Do let us know your views on the same The post Regulatory hurdles reducing Europe, Promising Crypto Christmas in Europe appeared first on Coingape.

2 months ago

Amun’s Crypto ETP Volume Spikes: Sign Of Bitcoin Accumulation?

Just weeks ago, as Bitcoin (BTC) walked the fine line between a breakout and lower lows, Amun, a London-based fintech firm, suddenly divulged that it was slated to launch its “HODL5″ exchange-traded product (ETP) on Switzerland’s SIX exchange. Amun’s announcement instantaneously garnered attention from the bulk of the cryptosphere’s eyes and ears, with everyone and their mother discussing the”game-changing” vehicle, which put a spotlight on BTC, Ethereum (ETH), and XRP. Speaking with Financial Times regarding the product, Amun CEO and co-founder Hany Rashwan explained that the ETP would be an enticing offering for both institutional players and retail traders alike, as it would provide secure and regulatory-compliant exposure to cryptocurrencies. And with that in mind, HODL5 became the rallying cry for crypto’s bulls blinded by “hopium,” who stated that the SIX-listed instrument could catalyze a jaw-dropping reversal. Yet, upon its launch, the performance of Amun’s crypto foray was lackluster at best, dismal at worst. Interest In Switzerland Multi-Crypto ETP Surges As reported by NewsBTC, HODL5, while the most-traded ETP on SIX, saw little-to-zero interest during its first day on public markets, posting an insignificant $400,000 in volume. Such a figure was, of course, a far cry from the millions in volume that optimists were clamoring for. Many chalked up the fleeting interest to a number of factors, namely the fact that SIX has only been classified as Earth’s 13th largest stock exchange, posting a market capitalization of $1.6 trillion, a mere seven percent of the S&P 500. Industry analysts and commentators looking to find a rationale behind the lack of volume aimed their scopes at other nuances. Some attributed the HODL5’s initially scant volume to Amun’s inability to captivate the business and wallets of SIX’s institutional clients, the vehicle’s targeted constituency. Moreover, these skeptics added that such market participants didn’t believe that the crypto market was poised to reverse its multi-month downtrend. However, with a recent tweet from Su Zhu, the chief executive and investment officer at Singapore-based Three Arrows Capital, Amun’s fortunes may actually be turning for the better, despite the further decline in the Bitcoin price. On Thursday and Friday of last week, as BTC freefell to establish a year-to-date low in the $3,200 range, Switzerland’s only ETP surprisingly saw record-breaking volumes, which followed weeks of relative inactivity and mundane action. In fact, Thursday saw traders exchange 53,233 HODL5 shares, and 62,986 on the following day, which amounts to approximately $1.3 million at current prices. This, of course, was a far cry from the 27,244 shares traded throughout the product’s inaugural session. Last Thurs and Fri we broke volume records again on the Swiss HODL ETF with 53,233 shares and 62,986 shares traded respectively. That coincided with the dip in BTC to 3.2k and ETH to near 80. The correlation between volume and price continues to be very strong at (-68%). https://t.co/Meuaa9MXCV — Su Zhu (@zhusu) December 11, 2018 In a subsequent tweet, the crypto-friendly Three Arrows Capital executive explained that there is a “very strong” correlation between volume in price, whereas HODL5 trading surges amid crypto’s incessant stream of strong drawdowns. Case in point, when ETH neared $80 and BTC neared $3,200 on December 7th, SIX processed record volumes as aforementioned. Drawing conclusions from this simple fact, Zhu, a bonafide crypto commentator growing in popularity, noted that “[ETP] buyers have firm levels in mind.” Bitcoin Revisits Year-To-Date Low At $3,200 — Potential Level Of Accumulation Just a week after HODL5 experienced its best day yet, BTC, after another bout of tumult and unpredictable price action, has found itself nearing $3,200 yet again. In fact, at the time of writing, the leading cryptocurrency trades for $3,250 a pop on Coinbase Pro, the essential benchmark of crypto exchanges. If Zhu’s analysis is accurate, and assuming that HODL5’s buyers are representative of the entire trading demographic, Bitcoin could potentially find a semblance of support at current values, as investors seek to cash-in on the crypto craze for the long haul. Other reports indicate have confirmed that investors, are, in fact, scaling into cryptocurrency holdings en-masse. Extensive research recently completed by Diar, a leading crypto-centric data analytics unit, has revealed that the amount of ETH that Ethereum’s top 500 wallets have held has risen by 80% in 2018 alone. To put this growth into perspective, on January 1st, whales kept 11 million Ether under lock and key, as of November 30th, the same group of wallets held 20 million. Although conclusions cannot be drawn from this statistic, optimists have exclaimed that whales are heavily betting on a market turnaround. Still, not all pundits are entirely convinced that this nascent market has found itself at a long-term bot

2 months ago

Now It’s Official: German Stock Exchange Giant to Launch Crypto Trading by Q2 2019

CoinSpeaker Now It’s Official: German Stock Exchange Giant to Launch Crypto Trading by Q2 2019 This year it has become absolutely clear that the world of traditional finance has finally put up with the idea that cryptocurrencies are full-fledged participants of the system. A great number of traditional financial institutions and stock exchanges worldwide have decided to expand their services and added crypto offerings. News from Germany As it has been officially announced, Boerse Stuttgart, which occupies the second position in the list of the largest stock exchanges in Germany and the ninth position in the European ranking, is planning to launch a crypto trading platform. It is expected that it will be done by the second quarter of 2019. In order to enable investors in the public market to trade crypto assets, in the nearest future, Boerse Stuttgart will closely work with solarisBank. This collaboration will allow to build the necessary end-to-end infrastructure for operations with cryptocurrencies. solarisBank will also serve as Boerse Stuttgart’s banking partner in the crypto-related aspect. Speaking about their new imitative CEO of Boerse Stuttgart GmbH, Alexander Höptner, noted: “With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in cryptocurrencies and tokens to the next level and in setting new standards in transparency and reliability.” This year, in August, Coinspeaker already reported about Boerse Stuttgart’s intentions to get deeper involved into the crypto sphere and to create a “multilateral regulated trading venue”. This platform is aimed at allowing token issuers to conduct their ICOs and trade tokens on the secondary market. At the current moment, it is known that Bitcoin (BTC) and Ethereum (ETH) will be among the coins available on the cryptocurrency platform. Nevertheless, after the launch of the above-mentioned ICO platform, the list may become much longer. Höptner hopes that thanks to their cooperation with solarisBank’s Blockchain Factory they will be able to take “trading in cryptocurrencies and tokens to the next level “ and to set “ new standards in transparency and reliability”. Benefits for the European Crypto Market Despite a great number of extremely talented teams and highly-developed infrastructure, Europe hasn’t managed to become the largest crypto market yet. The leading positions belong to such markets as Singapore, Japan, South Korea and the U.S. Nevertheless, over the past months, European countries such as the U.K. and France have started to pay much more attention to cryptocurrencies. European crypto exchanges have started to gain momentum and are ready to compete with the recognized world’s leaders. In such a situation the development Boerse Stuttgart’s a cryptocurrency trading platform can become a new engine of the local crypto market growth. Moreover, speaking about the development of the European stock exchanges, it’s worth mentioning that this November Amun Crypto got an approval from the Swiss Exchange (SIX) to operate the first crypto ETP in the country. Now It’s Official: German Stock Exchange Giant to Launch Crypto Trading by Q2 2019

2 months ago

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)

2 months 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

2 months 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)

3 months 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

3 months 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,…

3 months 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)

3 months 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

3 months 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.”

3 months 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)

3 months 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.

3 months 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.

3 months 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.

3 months 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.

3 months 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)

3 months 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.

3 months 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)

3 months 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.

3 months 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.

3 months 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.

3 months 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

3 months 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.

3 months 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)

3 months 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)

3 months 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

3 months 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.

3 months 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.

3 months 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.

3 months 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.

3 months 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.

3 months 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

3 months 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

3 months 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.

3 months ago


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