Metaverse ETP

Metaverse ETP ETP

$0.2056
Market Cap $ 16.236 MM (#373)
24h Volume $ 255.137 K
Chg. 24h: -0.07%
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Metaverse ETP News

Amun Lists Inverse ETP To Help Traders Short Bitcoin

Fintech firm Amun has listed inverse bitcoin exchange-traded product (ETP) on Switzerland’s primary stock exchange SIX. Amun is known for listing various cryptocurrency-related ETPs on SIX. However, for the first time, with the inverse ETP, traders will be able to short Bitcoin. The inverse ETP earns a positive return when the price of Bitcoin falls. Amun has listed its inverse ETP as “21Shares Short Bitcoin ETP (SBTC)." It has a total of 11 crypto ETPs listed on stock exchanges. While the rest are passive investment products, this one requires active investment. Amun is looking to list its ETPs on at least two more European exchanges by the end of 2020. (VS)

8 months ago

Fintech Firm Raises $17.65 Million to Help Integrate Blockchain Technology into the ETF Ecosystem

WisdomTree, the $44.5 billion exchange-traded fund (ETF) and exchange-traded product (ETP) asset manager, recently led the Series A funding round for Securrency, a firm which develops institutional-grade blockchain-based financial and regulatory technology. The company raised $17.65 million in total which will go towards furthering the goal of integrating blockchain technology into the ETF ecosystem. Securrency hopes its partnership with WisdomTree will help it further improve its technology, especially its Compliance Aware Token framework and multi-ledger capacities. (JF)

8 months ago

Daily Berminal Brief: Crypto Market Drifts Lower Following Bitcoin's Rejection at $7,500

The overall crypto market drifted lower on Monday following Bitcoin’s rejection from $7,500 as the total market cap fell by $4.5 billion over the past 24-hours and currently sits near $193.3 billion. The price of Bitcoin has decreased by 1.88% on the 24-hour chart and is currently trading at $7,280 while Ethereum has decreased by 2.43% and currently trades at $132.22. Out of the top 100 projects, the best performing coin over the past 24-hours has been Metaverse ETP (ETP), currently up 8.24% and trading at a price of $0.410612. Bitcoin dominance is currently at 68.2%. (JF)

9 months ago

Swiss Stock Exchange SIX Lists Tezos

Switzerland’s biggest stock exchange, SIX has just listed an exchange-traded product (ETP) based on Tezos. It is issued in partnership with fintech firm Amun AG and will be traded under the ticker AXTZ. With this, SIX now has a total of nine crypto products listed on its exchange. However, the latest listing is unique as it comes with a passive income. The “baking rewards,” offered by Tezos for staking, will be passed on to the investors. Amun will charge a 2.5% fee on the proceeds, and investors will receive the remaining as dividends. Amun makes use of Coinbase’s institution-grade Custody Platform for storing its cryptocurrencies. Tezos (XTZ) is priced at $1.11, losing 3.69% in the last 24 hours. (VS)

10 months ago

Last week @binance 1. 125x Leverage on #BinanceFutures 2. ...

Last week @binance 1. 125x Leverage on #BinanceFutures 2. 🔥2,061 ,888 $BNB burn 3. BNB ETP on Swiss stock exchan… https://t.co/HfGMyWU4Eg

a year ago

Binance partners with Amun to launch BNB ETP on Swiss Stock Exchange

Binance partners with Amun to launch BNB ETP on Swiss Stock Exchange - CryptoNinjas Binance, the popular cryptocurrency exchange company and Swiss-based firm Amun AG, a provider of Exchange-Traded Products (ETPs), today announced a partnership to launch a BNB ETP on the regulated segment of the SIX Swiss Exchange. Trading of the Amun BNB (ABNB) ETP begins today. BNB, initially created to pay for fees on the Binance exchange Binance partners with Amun to launch BNB ETP on Swiss Stock Exchange - CryptoNinjas

a year ago

Amun and Binance Launch First ETP Based on Binance Coin (BNB)

Starting today, the first ETP in the world based on Binance Coin (BNB) will be launched. This product, issued on the Zurich SIX Swiss Exchange with ABNB ticker, is the result of a collaboration between Binance and Amun. Institutions Hungry for BNB Amun AG, a leading Swiss company in the issuance of Exchange-Traded Products (ETP)Read MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\

a year ago

Binance Coin Price Jumps on ETP Launch + 11 More Crypto News - Cryptonews

Source: iStock/Olivier Le Moal Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news - keeping you up-to-date with under the radar crypto news from around the world. Cryptocurrency exchange news Binance partnered with the Swiss-based issuer of crypto Exchange-Traded Products (ETP), Amun, in order to launch Binance Coin (BNB) ETP. Trading of

a year ago

Amun and Binance Launch BNB ETP on Swiss SIX Stock Exchange

Coinspeaker Amun and Binance Launch BNB ETP on Swiss SIX Stock ExchangeBinance has partnered with premier exchange-traded product Amun AG to create an ETP that has the BNB token as the primary asset but listed in US dollar value. This development was announced today by the leading cryptocurrency exchange. Trading of the newly developed product (the Amun BNB ABNB) has started on the Swiss SIX exchange today.Changpeng Zhao CEO Binance indicated this in a tweet as well.A MAJOR step. Now you can trade $BNB ETP on Swiss Stock Exchange (Ticker: $ABNB).Further bridging between #crypto (& #bnb) with the traditional financial world!Thanks to @AmunAG! https://t.co/hK8ku53no6— CZ Binance (@cz_binance) October 15, 2019As part of the unique partnership which will see further expansion of the utility use-case scenario which has also been expanding exponentially within the crypto space itself. BNB was launched in 2017 as a token that will be used for payment for the charges on the Binance exchange. It, however, has evolved and has many uses in a myriad number of ways. One of these ways is the use-case scenario in which fees are also paid in BNB tokens on Binance chain which is a decentralized order settlement and digital asset matching system and based on its own blockchain.Within the last two years, BNB’s valuation has grown from $15 million to $2.5 Billion and is steadily gaining ground as one of the fundamental cryptocurrency tokens that have a wide number of uses. Today, BNB is up to two spaces from the tenth position and may even climb further giving it more exposure.The ABNB follows the regular norms of exchange-traded products with the only difference between it and other ETPs are that the ABNB has as its underlying asset the cryptocurrency token BNB. The great thing about this is that the ETP can be accessed by just about anybody. The institutional guys can purchase the asset and keep it in their portfolio and the retail investor as well. The listing of the ABNB on the Swiss Six Exchange (no 10. of all exchanges in terms globally) has made the process of purchase the same in terms of way and manner that other instruments can be purchased.ABNB’s administration occurs on the Amun Onyx platform. Since 2018, Amun has launched eight ETPs which are all doing well as an asset class.In what many have seen as an innovative way to get people to purchase cryptocurrencies easily, safely and securely, Exchange Traded Products can give the hedge required against the volatility that cryptocurrencies often undergo due to the novel nature of the market.Binance has been quite excited naturally about the partnership and is keen to make the progress of the partnership. Binance CEO indicated this when he said:“Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure,”He further stated:“This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.”Sources further mention that ABNB has initially $20 million worth of BNB tokens as the underlying asset value which is equivalent to about 25% of Amuns’ BNB stash. The eight ETPs have $75 million total cryptocurrencies which serve as the underlying assets.Amun and Binance Launch BNB ETP on Swiss SIX Stock Exchange

a year ago

Swiss Stock Exchange SIX Adds New BNB-Based ETP

Swiss stock exchange SIX has added a new cryptocurrency exchange-traded product (ETP) which allows investors to gain exposure to Binance’s BNB token.

a year ago

Binance CEO Eyes BNB Prospects After ETP Launch on SIX

Switzerland’s main stock exchange SIX has chosen to increase its cryptocurrency portfolio by trading a product based solely on Binance Coin. Binance Coin ETP Goes Live On SIX In a blog post issued on October 15, Binance Coin’s issuer, cryptocurrency exchange Binance confirmed it was launching a dedicated exchange-traded product (ETP) on SIX. Trading will begin today and marks the first physically-backed BNB-based ETP anywhere in the world. The move follows multiple other ETPs on SIX. For the launch, Binance partnered with local startup Amun, which also helped bring the BNB ETP’s predecessors to market. “Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure,” Binance CEO Changpeng Zhao (known as ‘CZ’) commented in the press release. This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products. BNB/USD appeared buoyed by the news, increasing by almost 5% over the past 24 hours. On Twitter, CZ hinted he suspected prices to increase further. “I don’t know what it will do to the $BNB price, but it certainly makes $BNB more accessible to a new audience,” he wrote on Tuesday. BNB has in fact come under pressure in recent months. Having hit all-time highs around $40 in June, the token then halved in value. Late last month, it reached local lows of just $15. SIX Cosies Up To Crypto As Bitcoinist reported, SIX has meanwhile sought to open up itself platform as a supportive environment for crypto-related products. The exchange launched a multi-crypto ETP late in 2018, at the height of the Bitcoin bear market, remaining upbeat on its prospects. Earlier this month, Amun entered into a joint venture with Swiss operator Bitcoin Suisse to debut a Bitcoin and Ethereum ETP on SIX. “This product further exemplifies Switzerland’s leading position in the crypto space, where Amun is able to work closely with the exchange and authorities to create regulated, compelling, and institutional-grade financial products,” Amun CEO Hany Rashwan said at the time. SIX further plans to launch a Blockchain version of its platform, nonetheless postponing the release until 2020. What do you think about the Binance Coin ETP? Let us know in the comments below! Images via Bitcoinist Media Library The post Binance CEO Eyes BNB Prospects After ETP Launch on SIX appeared first on Bitcoinist.com.

a year ago

Binance partners Amun to list BNB token on Switzerland’s SIX exchange

Malta-based cryptocurrency exchange giant Binance has announced its partnership with Swiss firm Amun AG, an issuer of cryptocurrency exchange-traded products (ETPs), to launch a BNB ETP on the SIX Swiss Exchange’s regulated segment, with trading to begin today. Binance CEO Changpeng Zhao welcomed the announcement and said, “Our partnership with Amun in launching the BNB The post Binance partners Amun to list BNB token on Switzerland’s SIX exchange appeared first on AMBCrypto.

a year ago

Binance Launches World’s First BNB ETP With Amun AG

Per a recent announcement by Binance’s official Twitter handle, Binance and Amun AG world’s leader in the issuance of cryptocurrency Exchange-Traded Products (ETP) have partnered together to launch a BNB ETP on the regulated segment of the SIX Swiss Exchange. AMUN BNB (ABNB) ETP Trading Begins Today Source- Twitter The product has been designed to make the top- 10 cryptos accessible to audiences still not aware of the crypto. Interestingly, this is the worlds’ first crypto-based product that can be purchased using a brokerage or a bank. The product has been issued on the Amun Onyx Platform. As a matter of fact, the new BNB ETP took about a month’s work to be created. Per the announcement, each new product will track 1.09890110 BNB and will trade at a starting price of approximately $20 - depending on market conditions. Binance CEO, Changpeng Zhao said the product would help open up digital assets to traditional investors. He said, It will give traders exposure to a new and regulated asset class with a unique dimension to utility tokens...through a traditional financial infrastructure.” From the Managing Director’s Desk Laurent Kassis, Amun’s Managing Director last week, said that “Even with the token burns likely to restrict supply and dampen volatility, the remaining 100M BNB tokens will provide “ample space for a Binance ETP to exist for a very long time.” She further said that BNB has gained nearly 200% since the first quarter of 2019. Moreover, it is trading “well within the arbitrage boundary of normal volatility behaviors”. She further said that it will attract new traders as it provides them exposure to crypto through a traditional product and will also bring huge benefits to Binance users. What is an Exchange- Traded Product? An Exchange Traded Product is a financial security that derives its price from other underlying assets. It can be traded on the traditional stock exchange like any other stock or commodity. Intra-day orders of the ETPs can be also be placed. Moreover, Exchange Traded Products can not only be used to place intraday orders but also to develop other financial products on it. BNB ETP Becomes the 8th Crypto ETP to be Listed on SIX Exchange Now, Amun AG has a total of eight cryptocurrency Exchange Trade products listed on SIX Exchange. The list includes XRP-based ETP, a BTC-based ETP, a Bitcoin Cash (BCH)-based ETP, an ETH-based ETP, the Amun Crypto Basket Index ETP, BTC-ETH ETP and Amun Bitwise Select 10 Large Cap Crypto Index ETP. Will the newly launched BNB ETP get the right attention from traders? Let us know, what you think in the comments below! The post Binance Launches World’s First BNB ETP With Amun AG appeared first on Coingape.

a year ago

Amun Launches BNB ETP On SIX Swiss Exchange

Swiss cryptocurrency product provider Amun has partnered with cryptocurrency exchange Binance to list its native token BNB as an exchange-traded product (ETP) on SIX Swiss Exchange. Commenting on the launch, Binance CEO Changpeng Zhao said it opens up "a new and regulated asset class with a unique dimension to utility tokens…through a traditional financial infrastructure." It is issued on Amun's Onyx Platform, and it will track 1.09890110 BNB with a starting price of $20. Binance Coin (BNB) is priced at $18.80, gaining 3.70% in the last 24 hours. (VS)

a year ago

Amun and Binance Launch World’s First BNB ETP

Binance has partnered with the Swiss cryptocurrency product provider Amun to launch a BNB exchange-traded product (ETP), which is expected to provide a whole new class of investors with exposure to the digital asset through a regulated product. Trading for the BNB ETP - listed as ABNB - begins today on the SIX Swiss Exchange - the world’s tenth-largest exchange. Designed to make the top-ten cryptocurrency accessible to a less crypto-orientated audience, the product, a world-first for the cryptocurrency, can be bought and held using a brokerage or a bank. Binance CEO, Changpeng Zhao said the product would help open up digital assets to traditional investors, giving them exposure to “a new and regulated asset class with a unique dimension to utility tokens...through a traditional financial infrastructure.” Issued on the Amun Onyx Platform, the new BNB ETP reportedly took about a month’s work to create. Each new product will track precisely 1.09890110 BNB and will trade at a starting price of approximately $20 - depending on market conditions. Laurent Kssis, who joined Amun as its Managing Director last week, said that even with the token burns likely to restrict supply and dampen volatility, the remaining 100M BNB tokens will provide “ample space for a Binance ETP to exist for a very long time.” Having gained nearly 200% since Q1 2019, the coin is “well within the arbitrage boundary of normal volatility behaviours”, he said. Traders will find the new ETP attractive as it gives exposure, through a traditional product, to the whole Binance ecosystem. Binance has recently tried to make the case that BNB fits the criteria for a utility token. In its report released last week, the exchange argued that the coin was not just a means to receive discounted trading fees, but could also be used as a means of payment on some travel websites, a new store of value or even to purchase real-estate on sites such as Propy. In total, Binance said BNB had more than 120 different use-cases. As Crypto Briefing reported at the time, it appears the exchange is working to avoid a securities classification in the US by the SEC. Amun came to prominence last year when it launched its first crypto ETP, tracking a basket of the then-five largest cryptocurrencies by market cap. It’s first fully-collateralized ETP, tracking both Bitcoin (BTC) and Ether (ETH), came to market earlier this month. Amun has received investment from the son of Tim Draper, Graham Tuckwell, founder of gold ETF product provider, ETFS Capital, and Greg Kidd, co-founder of investment firm Hard Yaka. The Block’s founder and CEO, Mike Dudas, is also one of the company’s seed investor. Binance and Amun have said that they plan to collaborate again in the future, to provide more crypto-focused products that will encourage traditional investors to engage with the asset class. The post Amun and Binance Launch World’s First BNB ETP appeared first on Crypto Briefing.

a year ago

BNB can now be traded on Swiss SIX exchange as ETP

Binance’s BNB tokens will soon be purchasable on Switzerland’s biggest stock exchange as an exchange-traded product (ETP). The cryptocurrency exchange has partnered with Switzerland-based ETP issuer Amun to launch the BNB ETP (ABNB). The trading of ABNB starts on Tuesday and it is available on the SIX Swiss Exchange, which Amun has been working with to launch several crypto ETP products. An ETP is publicly-traded security that tracks an underlying financial instrument or index. In the case of ABNB, the product is tracking the price of BNB, the native token of Binance Chain. By wrapping BNB within a financial structure that is widely available in traditional asset classes, Binance and Amun hope to appeal to the wider retail market. “Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure,” said Binance CEO Changpeng Zhao "CZ" in a statement. “This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.” There have been controversies in the past surrounding whether BNB is a security. Potentially due to regulatory concerns, the exchange even quietly changed some language in its token white paper in April. In the company statement, Binance stressed that BNB, instead of a security, is a utility token that has more than 120 use cases. However, ABNB, as an ETP, is a security, meaning that investors can now “buy into the Binance eco-system” with ABNB without directly holding BNB, according to Amun CEO Hany Rashwan. “On my end, our ETPs are securities - they are securities by design. That doesn’t have any weighing on what BNB is, you can securitize non-security,” said Rashwan. A BNB ETP may also further solidify BNB’s dominance in exchange token market. According to The Block’s research, the market cap of exchange tokens has grown by 255% to $5.5 billion since the beginning of the year, with Binance leading the pack and contributes over 49.4% of the total market cap. With ABNB available on the Swiss stock exchange, BNB may pick up additional traction from the retail and European market. “We are so excited to partner up with the world’s largest crypto exchange and make their native token accessible to institutional and retail investors in a secure, affordable, and regulated Swiss exchange-traded product,” said Rashwan in the statement.

a year ago

BNB-Based Crypto ETP Now Live on Swiss SIX Stock Exchange

The new exchange traded product (ETP) will be underlaid by $20 million worth of Binance coin.

a year ago

Crypto News From the German-Speaking World: Oct. 6 - 12 in Review

The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Germany investigating the feasibility of a blockchain-based regional power trading platform, Iota Foundation joining forces with Zuhlke to solve engineering problems and the German Central Bank saying that there is no need for a digital euro coin. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. Germany promotes research on a regional blockchain power exchange Cointelegraph auf Deutsch reported on Oct. 9, that the Free State of Bavaria in Germany plans to investigate the feasibility of a regional power trading platform based on blockchain technology. The research project involves several partners like the Technical University of Munich, Energie Sudbayern and the Syneco company. The Bavarian Ministry of Economic Affairs, Regional Development and Energy is funding the project. German Bundesbank sees no need for digital euro Cointelegraph reported last week that the German finance minister Scholz was advocating the idea of launching a digital Euro coin. However, on Oct. 12, the German Bundesbank said that it sees no current need for the introduction of a digital central bank currency in Europe. The German central bankers added: “Digital central bank money in this comprehensive variant for payment processing offers from today’s view only small recognizable advantages.” South African Net1 intends to acquire majority stake in Liechtensteiner Bank Frick South African Net1 intends to acquire the majority stake in Liechtenstein bank Frick. If the Liechtenstein Financial Market Authority gives the green light to the March 2020 acquisition, the shares of the payment service provider would increase to 70 percent. The Kuno Frick Family Foundation remains the owner of the remaining 30 percent of the Liechtensteiner Bank Frick. Net1 expects to expand its fintech and blockchain services in addition to the bank’s existing products and services. Iota Foundation and Zuhlke join forces to solve engineering problems The IOTA Foundation, in cooperation with Switzerland-based service provider Zuhlke, wants to solve some of the most important problems of mechanical and plant engineering, which often have a significant impact on the financial health of the respective companies. Jens von der Brelie, head of the Zuhlke Solution Center Industrial & Consumer Solutions, commented on the new partnership: “Our collaboration aims to integrate the IOTA Foundation’s Distributed Ledger technology platform, Tangle, into Zuhlke projects that provide innovations for manufacturing and machine components.” Bitcoin Suisse and Amun bring crypto investment product to Swiss stock exchange Per an Oct. 7 report, Swiss crypto companies Bitcoin Suisse and Amun launched an investment product for Bitcoin (BTC) and Ether (ETH) which is listed on the SIX Swiss Exchange. The Amun Bitcoin Suisse BTC/ETH ETP (ABBA) represents the value of Bitcoin held by Bitcoin Suisse with a share of 90 percent and Ether with a share of 10 percent. The cryptocurrencies are stored in the Bitcoin Suisse Vault, a crypto custody solution for institutions with particularly high security.

a year ago

Swiss ETP issuer Amun appoints competitor’s former CEO as managing director

Exchange-traded product (ETP) issuer Amun announced today that it has hired Laurent Kssis, the former CEO of primary competitor XBT Provider, as its managing director. The Switzerland-based company was founded less than a year ago, but it has to date listed seven cryptocurrency ETPs, tracking the performance of bitcoin, ethereum, XRP, bitcoin cash, and others. It is also planning to list three more products in the next month, according to Amun CEO Hany Rashwan. Over the past year, Amun has been on a listing spree of its ETPs on the SIX Swiss Exchange, Switzerland’s largest stock exchange. Meanwhile, XBT Provider, also a Swiss ETP issuer, is said to be the first to list a bitcoin-referenced security on a regulated exchange. The company is owned by Coinshares, a London-based digital asset manager. According to a statement, Kssis joined XBT Provider in 2017 and had grown the firm’s assets under management to over $1 billion during his tenure. “He will play a pivotal role in our mission to offer investors the highest quality regulated digital asset investment products across Europe. He has a deep network that spans market participants and regulators across Europe, with particular strength in Scandinavia,” said Rashwan in the statement. Elsewhere in the U.S., asset managers struggled to get their exchange-traded funds (ETFs) approved by the Securities and Exchange Commission. VanEck recently withdrew its ETF proposal while Bitwise's proposal was rejected on Wednesday.

a year ago

WHY, GOD, WHY DO BAD THINGS HAPPEN TO GOOD ETFs? Bitwise Denied: Analysis

Despite Bitwise Managing Director Matt Hougan’s sunshine optimism that the market was “closer than ever” to a Bitcoin ETF, last night the SEC announced it had rejected their application on the grounds that it had failed to show how it would “prevent fraudulent and manipulative acts and practices.” In a statement today, following the decision, Hougan said that “[H]istorically, the approval of novel exchange-traded products that open up new asset classes has required multiple years of regulatory engagement.” “What matters is continued progress and the investment of time from regulators, and that’s what we see here,” he added. Crypto is already pretty accustomed to getting denied by the SEC - the market barely shifted - but whereas most providers have tacitly withdrawn their application days before the deadline (*ahem* VanEck), Bitwise’s application was the first since the Winklevoss Bitcoin Trust to be explicitly denied by the regulator. 120 Pages - What Keeps The SEC Busy Although a possible reputational hit for Bitwise, the SEC has released a 120-page document that goes through and explains its decision. A quick breeze through shows commentators had clearly not been altogether impressed by the analytical quality of Bitwise’s application. “The Sponsor [Bitwise] relies heavily on conclusory statements that are insufficient to support its findings,” reads the report at one juncture. In sum, the SEC was not convinced by Bitwise’s application that a subset of the cryptocurrency market was “uniquely resistant to fraud and manipulation” and therefore suitable for an ETF. In fact, there are nine instances where the regulator pulls apart Bitwise’s argument: not only did Bitwise fail to provide evidence to support which exchanges it believed had fake volumes, it also couldn’t show how bad exchanges could be safely hived from the legitimate platforms - and did not fully consider whether a platform could have a mixture of real and fake volumes. Don’t fake it. The SEC’s real concern with the crypto market was wash trading, and it played strongly into why it decided to reject the Bitwise ETF proposal. Based on the provider’s own findings, nearly 95% of operational exchanges fluff-up their trading data, leaving Bitcoin open for illicit trading practices. Even though Bitwise acknowledges the scale of fake volumes, the SEC disagreed with their argument that a “surveillance-sharing agreement”, cooperation between exchanges and providers to detect fraudulent trading behavior, was “unnecessary“. While the ETF would be based on the 5% of exchanges that reported real volumes, the regulator felt it would be “unwise” to create a product based on such a small section of the market, particularly as they weren’t convinced that those exchanges were entirely reliable and that some of the chosen exchanges, Binance and Kraken, were also not fully regulated in the US. The report: “A surveillance-sharing agreement must be entered into with a “significant market” to assist in detecting and deterring manipulation of the ETP, because a person attempting to manipulate the ETP is reasonably likely to also engage in trading activity on that “significant market.” This is the exact same point the SEC made in its response to the Winklevoss application last year. Any provider that cannot show their market to be “inherently resistant to fraud and manipulation” must enter into a cooperative agreement with other providers. Believing, as the SEC does, that crypto remains a market easily subjected to manipulation, the required steps simply aren’t in place yet to convince them an ETF would protect investors from illicit trading activities. If approved today, they argue such a product might “compound” systemic problems and place investors at an even greater risk than they are already. What Next: A Phoenix From The Bitwise Ashes? The next, and last, ETF deadline for this year is the Wilshire Phoenix application on December 28, which would give users exposure to Bitcoin and US Treasury Bonds. Based on the SEC report into what the regulator expects from a provider, Wilshire Phoenix will need to show conclusively how their product will prevent users from harm’s way. Intentions are everything. While the crypto industry has long framed arguments pushing for an ETF in the language of adoption and getting Bitcoin mainstream, the SEC report shows those motivations have actually harmed their case. According to one commentator, “the proposed ETP is not motivated by a legitimate desire to protect consumers” but is instead to “increase the mass adoption of cryptocurrencies and thus drive up the price through mass speculation.” The SEC wasn’t opposed to the Bitwise ETF per se. In some aspects, it had clear benefits for investors and the broader market. Near the end of the document, one commentator conceded that a properly constructed Bitcoin ETF product could help protect consumers, particularly if the only other option is to buy and hold the underlying asset. Anoth

a year ago

SEC Rejects Bitwise’s Bitcoin ETF, Bitwise Responds Positively With Future Plan

The Securities and Exchange Commission has rejected Bitwise’s ETF proposal citing fake volume at cryptocurrency exchanges. This move marks the end of any possible debut of a Bitcoin ETF at any exchange in 2019. Market Manipulation Responsible For Rejection The SEC has refused several applications over the years. Subsequently, Bitwise has presented an extensive research piece and made presentations to the SEC staff to convince them of the requirement of an ETF in the crypto market. In its filing, the former presented its case that the spot prices were derived from the ‘real’ Bitcoin market which consisted of 10 cryptocurrency exchanges. They further alleged that these markets were resistant to manipulation. However, per the federal agency’s mandate, the filing stands rejected and it remains unconvinced. Furthermore, the research alleged that all the other Exchanges were reporting fake ‘non-economic’ data to gain ranking on CoinMarketCap. This attracts more customers, and the management charges hefty fees for listing as well. Nevertheless, ‘wash trading’ is non-economic; i.e., it does not affect the price of the asset. Source- Bitwise Report The SEC rebutted Bitwise’s claims and said that the fact that the real “Bitcoin” market is free from manipulation remains contested. Furthermore, any cases of efficient price between crypto exchanges do not automatically eliminate the need for surveillance. “There is no evidence in the record that arbitrage in the bitcoin market is of such unique effectiveness that it would essentially insulate the proposed ETP from attempts at manipulation in a way beyond that of existing derivative securities products that trade on highly regulated markets,” the SEC said. The report also highlighted that the Bitcoin Futures Trading market is significant compared to the actual spot trading volume on Exchanges. Moreover, the futures price in most esteemed markets draws their index from these trusted ten Exchanges mentioned above. Furthermore, compared to the actual spot trading volume, the trading volume of Bitcoin Futures is around 30% of the spot volume. “The CME Futures Price Is Derived From Exchanges That Contribute To The Bitwise NAV Methodology” The Exchanges include Bitstamp, Coinbase, itBit, and Kraken. Moreover, it went to establish a global relevance of the price on Exchanges and regulated markets outside the US. Amun AG is a Swiss-based firm that has released four crypto-based Exchange Traded Product on SIX Exchange. Source- Bitwise Report Interestingly, several industry players have made laudable efforts to form regulatory associations. However, the practice remains largely restricted due to a limited number of participants. One of them is the Virtual Commodity Association from the Winklevoss-brothers backed by Gemini Exchange. “The Commission also notes that NYSE Arca has not stated that it has entered or will enter into surveillance-sharing agreements with those ‘real’ spot platforms that utilize surveillance tools. Moreover, even if NYSE Arca did enter into such agreements, it is not clear what ability NYSE Arca would have to compel the sharing of surveillance data. the SEC’s order states. ETF industry has a Long Road to Travel Previously, the team at Bitwise Asset Management suggested that the biggest misconception that the industry today is encountering while discussing the outlook for a crypto ETF is the belief that the SEC is fundamentally anti-crypto. The major reason for such a view for SEC comes from the fact that the regulator has had multiple delays in approving the first Bitcoin ETF. But if one looks at the history the every “first” in the ETF industry had to wait for multiple years before crossing the line. Bitwise, on the other hand, takes the rejection in a sporting manner considering this is a productive step in the journey toward a regulated crypto ETP. 1/ Earlier today, the SEC issued a 112-page order disapproving @NYSE filing for the @BitwiseInvest Bitcoin ETF Trust. Though "disapprove" doesn't seem positive, this is a productive step in the journey toward a regulated crypto ETP. https://t.co/fu3KWJYhI5 Thread — — Bitwise (@BitwiseInvest) October 10, 2019 Interestingly, the Bitcoin price hasn’t been affected by this decision. Since the verdict that price remains unperturbed. Will 2020 see crypto regulated ETF? Let us know, what you think in the comments below? The post SEC Rejects Bitwise’s Bitcoin ETF, Bitwise Responds Positively With Future Plan appeared first on Coingape.

a year ago

Ethereum Price Analysis and Prediction for October 5th - ETH Correction Looks Logical

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex On Friday, October 5th, Ethereum is slightly declining, trading at $173.21. After a good rise earlier this week, this decline seems logical. The Swiss exchange SIX is ready to offer a new product, consisting of 90% BTC and 10% ETH. Thanks to this ETP, market players will be able to add the leading cryptocurrency and the altcoin to their portfolios. The product will be available under the ticker ABBA. It has a peculiarity: it will have a full financial coverage, i.e. both the BTC and ETH are planned to be bought and stored in Bitcoin Suisse. This is not the first such ETP on SIX, and the very fact of the increase in the number of products available for investments is positive. In a week’s time, the ETH price grew by 12%, regardless of the problems with the hardfork in the test version of Ethereum. As one of the developers says, the problem in the test version emerged out of the lack of the miners’ readiness. Particularly, many of them had not updated the software, which led to the errors. Now they say on the market that Ethereum needs one more test network in order to carry out testing as independently as possible. On D1, the Ethereum price has put the downtrend on a halt near 76.0% Fibo in relation to the previous growth. Now there is a short-term pullback forming after an impulse of declining. The idea of the correctional growth is supported by a convergence forming on the MACD. The goal of the pullback is near $200.00 at the resistance line of the current channel. A breakaway of this level may stimulate the quotations to rise to $255.60 in the upper projection channel. After the pullback is complete, the quotations might rush at the local psychologically important support of $100.03, and then at the main minimum of $80.86. On H4, we can see ETH/USD developing a correction after an impulse of declining in a more detailed way. The confirmation of the pullback would be a Gold Cross on the Stochastic. The quotations may keep rising to 50.0% ($188.28) and 61.8% ($196.83) Fibo. The support is at the minimum of $152.28. Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein. The post Ethereum Price Analysis and Prediction for October 5th - ETH Correction Looks Logical appeared first on NullTX.

a year ago

Ethereum Price Analysis and Prediction for October 5th

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex On Friday, October 5th, Ethereum is slightly declining, trading at $173.21. After a good rise earlier this week, this decline seems logical. The Swiss exchange SIX is ready to offer a new product, consisting of 90% BTC and 10% ETH. Thanks to this ETP, market players will be

a year ago

7 Crypto Exchange-Traded Products Now Live on Swiss Bourse

Switzerland’s principal stock exchange now has seven cryptocurrency exchange-traded products (ETPs) listed. They allow investors to either gain exposure to individual cryptocurrencies or invest in portfolios of top cryptocurrencies. Four ETPs track the prices of single cryptocurrencies. Also read: New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals Crypto Index in Swiss Franc MV Index Solutions (MVIS) and Swiss fintech firm Amun AG announced Thursday the launch of their newest crypto ETP, in association with Bitcoin Suisse. The Amun Bitcoin Suisse ETP (ticker: ABBA) has started trading on SIX Swiss Exchange, the main stock exchange in Switzerland for traditional investments such as stocks, bonds, and exchange-traded funds (ETFs). The new crypto ETP is designed to track the prices of both BTC and ETH. MVIS Managing Director Thomas Kettner commented: It’s our first index in CHF and especially designed to serve the Swiss market which has been demanding such an index. Details of the Amun Bitcoin Suisse ETP. Source: SIX Swiss Exchange. “The Amun Bitcoin Suisse BTC/ETH ETP was designed for the Swiss by the Swiss,” Amun CEO Hany Rashwan remarked. “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX exchange and backed by a Swiss-based custodian.” As of Oct. 4, the ETP’s underlying index comprises 88.68% BTC and 11.33% ETH. “Index weightings are reviewed on a monthly basis, based on the current market capitalization of each coin. The index is market capitalization-weighted, no cap or floor is being applied,” the Zug-based company clarified. As news.Bitcoin.com previously explained, ETPs listed on SIX Swiss Exchange are not ETFs. MVIS is a wholly owned subsidiary of Van Eck Associates Corporation. Van Eck recently withdrew its application with the U.S. Securities and Exchange Commission (SEC) to trade a bitcoin ETF on the Cboe BZX Exchange. Instead, the company is now offering its bitcoin product to institutional investors under Rule 144A of the Securities Act of 1933, which is exempt from the SEC’s registration requirements. 6 Other ETPs Listed on SIX Swiss Exchange Other than the newly listed ETP, there are six other crypto ETPs trading in USD on SIX Swiss Exchange. Four of them seek to track individual prices of single cryptocurrencies: BCH, BTC, ETH, and XRP. Amun’s six other crypto ETPs currently listed on Six Swiss Exchange. Source: Amun AG. The Amun Bitcoin ETF (ticker: ABTC) started trading on Feb. 26; it seeks to track the price of BTC only. The next to launch was the Amun Ethereum ETP (ticker: AETH), which started trading on March 5. The Amun Ripple ETP (ticker: AXRP) started trading on April 2, followed by the Amun Bitcoin Cash ETP (ticker: ABCH) on July 4. The other two ETPs track the performances of baskets of cryptocurrencies. The Amun Crypto Basket Index ETP (ticker: HODL), the first crypto ETP listed on SIX Swiss Exchange, started trading on Nov. 21 last year. This product seeks to “track the investment results of an index composed of top five cryptocurrencies ranked by market capitalization,” Amun described. As of September, the portfolio comprises 50.27% BTC, 21.29% XRP, 19.10% ETH, 4.89% BCH, and 4.45% LTC. The September asset allocation of the Amun Crypto Basket Index ETP. Source: Amun AG. The other basket crypto product by Amun AG is called the Bitwise Select 10 Large Cap Crypto ETP (ticker: KEYS). It “seeks to track the investment results of an index composed of up to the top 10 cryptocurrencies ranked by inflation-adjusted market capitalization,” Amun detailed. The underlying index is the Bitwise Select 10 Large Cap Crypto Index. As of Oct. 3, BTC accounts for 77.84% of this index, followed by ETH (9.10%), XRP (5.70%), BCH (2.11%), LTC (2.11%), EOS (1.46%), XLM (0.60%), XMR (0.52%), ADA (0.47%), and DASH (0.42%). What do you think of SIX Swiss Exchange listing these crypto investment products? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images courtesy of Shutterstock, SIX Swiss Exchange, and Amun AG. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post 7 Crypto Exchange-Traded Prod

a year ago

7 Crypto ETPs Now Trading on Main Swiss Stock Exchange

Switzerland’s principal stock exchange now has seven cryptocurrency exchange-traded products (ETPs) listed. They allow investors to either gain exposure to individual cryptocurrencies or invest in portfolios of top cryptocurrencies. Four ETPs track the prices of single cryptocurrencies. Also read: New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals Crypto Index in Swiss Franc MV Index Solutions (MVIS) and Swiss fintech firm Amun AG announced Thursday the launch of their newest crypto ETP, in association with Bitcoin Suisse. The Amun Bitcoin Suisse ETP (ticker: ABBA) has started trading on SIX Swiss Exchange, the main stock exchange in Switzerland for traditional investments such as stocks, bonds, and exchange-traded funds (ETFs). The new crypto ETP is designed to track the prices of both BTC and ETH. MVIS Managing Director Thomas Kettner commented: It’s our first index in CHF and especially designed to serve the Swiss market which has been demanding such an index. Details of the Amun Bitcoin Suisse ETP. Source: SIX Swiss Exchange. “The Amun Bitcoin Suisse BTC/ETH ETP was designed for the Swiss by the Swiss,” Amun CEO Hany Rashwan remarked. “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX exchange and backed by a Swiss-based custodian.” As of Oct. 4, the ETP’s underlying index comprises 88.68% BTC and 11.33% ETH. “Index weightings are reviewed on a monthly basis, based on the current market capitalization of each coin. The index is market capitalization-weighted, no cap or floor is being applied,” the Zug-based company clarified. As news.Bitcoin.com previously explained, ETPs listed on SIX Swiss Exchange are not ETFs. MVIS is a wholly owned subsidiary of Van Eck Associates Corporation. Van Eck recently withdrew its application with the U.S. Securities and Exchange Commission (SEC) to trade a bitcoin ETF on the Cboe BZX Exchange. Instead, the company is now offering its bitcoin product to institutional investors under Rule 144A of the Securities Act of 1933, which is exempt from the SEC’s registration requirements. 6 Other ETPs Listed on SIX Swiss Exchange Other than the newly listed ETP, there are six other crypto ETPs trading in USD on SIX Swiss Exchange. Four of them seek to track individual prices of single cryptocurrencies: BCH, BTC, ETH, and XRP. Amun’s six other crypto ETPs currently listed on Six Swiss Exchange. Source: Amun AG. The Amun Bitcoin ETF (ticker: ABTC) started trading on Feb. 26; it seeks to track the price of BTC only. The next to launch was the Amun Ethereum ETP (ticker: AETH), which started trading on March 5. The Amun Ripple ETP (ticker: AXRP) started trading on April 2, followed by the Amun Bitcoin Cash ETP (ticker: ABCH) on July 4. The other two ETPs track the performances of baskets of cryptocurrencies. The Amun Crypto Basket Index ETP (ticker: HODL), the first crypto ETP listed on SIX Swiss Exchange, started trading on Nov. 21 last year. This product seeks to “track the investment results of an index composed of top five cryptocurrencies ranked by market capitalization,” Amun described. As of September, the portfolio comprises 50.27% BTC, 21.29% XRP, 19.10% ETH, 4.89% BCH, and 4.45% LTC. The September asset allocation of the Amun Crypto Basket Index ETP. Source: Amun AG. The other basket crypto product by Amun AG is called the Bitwise Select 10 Large Cap Crypto ETP (ticker: KEYS). It “seeks to track the investment results of an index composed of up to the top 10 cryptocurrencies ranked by inflation-adjusted market capitalization,” Amun detailed. The underlying index is the Bitwise Select 10 Large Cap Crypto Index. As of Oct. 3, BTC accounts for 77.84% of this index, followed by ETH (9.10%), XRP (5.70%), BCH (2.11%), LTC (2.11%), EOS (1.46%), XLM (0.60%), XMR (0.52%), ADA (0.47%), and DASH (0.42%). What do you think of SIX Swiss Exchange listing these crypto investment products? Let us know in the comments section below. Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images courtesy of Shutterstock, SIX Swiss Exchange, and Amun AG. Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post 7 Crypto ETPs Now Trading on

a year ago

Bitcoin and Ethereum Hybrid ETP Listed on Swiss Exchange SIX

Leading Swiss stock exchange SIX has launched a new exchange-traded product (ETP) based on a combination of Bitcoin and Ether according to a report from The Block Crypto, October 3. Swiss investors will now have the chance to hold BTC and ETH in their portfolio via a fully regulated product listed on Switzerland’s principal stockRead MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\

a year ago

Stone Ridge Wants Bitcoin Futures to Join List of Investment Vehicles

Stone Ridge Asset Management wants to launch a bitcoin futures fund. According to a filing with the U.S. Securities and Exchange Commission (SEC), Stone Ridge is looking to register the NYDIG Bitcoin Strategy Fund, a bitcoin futures contract offering that would be entering into an increasingly crowded space. If approved, Stone Ridge’s futures product would be significantly different from Bakkt’s own. Primarily, it would be investing in cash-settled bitcoin futures that are traded on exchanges regulated by the U.S. Commodity Futures Trading Commission (CFTC). The fund won’t invest in bitcoin or any other cryptocurrency directly, per the filing. Stone Ridge will offer 100,000 futures shares at $10 each with no minimum purchases, but the initial capital to be raised would be capped at $25 million. “‘Cash-settled’ means that when the relevant future expires, if the value of the underlying asset exceeds the futures price, the seller pays to the purchaser cash in the amount of that excess, and if the futures price exceeds the value of the underlying asset, the purchaser pays to the seller cash in the amount of that excess,” according to the filing. In addition to the fund’s investments in futures, Stone Ridge would acquire large amounts of cash and government and business securities to provide much-needed liquidity and to “serve as collateral for the Fund’s Bitcoin futures and to support the Fund’s use of leverage,” the filing explains. Stone Ridge Joining Growing List of Bitcoin Futures and Investment Offerings Stone Ridge’s filing shows that an increasing number of industry players are exploring bitcoin futures products. As noted above, Intercontinental Exchange’s Bakkt launched its much-anticipated physically settled bitcoin futures in September 2019. Although Bakkt’s emergence has been pitched as the spark needed for the next bull run, the results have been underwhelming. Bakkt’s first week did not meet optimistic expectations as the platform settled contracts worth less than $7 million, which some believe is the equivalent of four minutes of trading on many popular cryptocurrency exchanges. Meanwhile, Bakkt’s competitor, the Chicago Mercantile Exchange (CME) Group, announced that it would be adding options to its own bitcoin futures contracts in 2020. “Based on increasing client demand and robust growth in our Bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk,” Tim McCourt, CME’s global head of equity index and alternative investment products, said. In Central Europe, a new form of security is launching on October 4, 2019, on Switzerland’s primary stock exchange, SIX. Swiss cryptocurrency custodian Bitcoin Suisse AG has joined forces with fintech startup Amun AG to list an exchange-traded product (ETP) weighted with 90 percent bitcoin and 10 percent ether. The joint product will trade under the ticker ABBA on the exchange. “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian,” Hany Rashwan, CEO of Amun, explained in a statement. The post Stone Ridge Wants Bitcoin Futures to Join List of Investment Vehicles appeared first on Bitcoin Magazine.

a year ago

Swiss Exchange SIX Lists Joint Bitcoin and Ether Exchange-Traded Product

Swiss crypto broker Bitcoin Suisse has partnered with fintech firm Amun to launch a new crypto exchange-traded product (ETP) on the country’s stock exchange SIX. “ABBA” Bitcoin and Ether ETP goes live As industry media outlet The Block reported on Oct. 3, the joint Bitcoin (BTC) and Ether (ETH) product, trading under the ticker ABBA, is already live on SIX exchange. The ETP is weighted 90% Bitcoin and 10% Ether. It represents the latest crypto offering to launch on SIX, which already features dedicated Bitcoin, Ether, Bitcoin Cash (BCH) and other ETPs. Amun CEO Hany Rashwan added: “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.” SIX ushers in crypto trading market As Cointelegraph reported, SIX has opened its doors to crypto financial tools in recent years as part of an overall move to embrace the sector. The company is preparing to launch a blockchain-powered version of its platform dubbed SDX, but postponed the release. A prototype will instead run prior to a later mainnet launch in Q4 next year. SDX chairman Thomas Zeeb commented at the time: “SDX is a testament to the innovative nature of the Swiss stock exchange and the foresight of its shareholders - we are combining existing market technology with revolutionary new technologies to create the market of the future.”

a year ago

BTC & ETH ETP Listed on Swiss Exchange

The Swiss-based crypto broker, Bitcoin Suisse has just teamed up with the fintech company Amun to launch a new crypto exchange-traded product (ETP) on the nation’s stock exchange SIX. Mamma Mia! Under the ticker ‘ABBA’, the joint bitcoin and ethereum product have already gone live on the SIX exchange. Weighted at 90 percent bitcoin and 10 percent ethereum, the ETP represents the latest crypto offering to launch on SIX, which already features dedicated Bitcoin, Ether, Bitcoin Cash (BCH) and other ETPs. The Amun CEO Hany Rashwan added: “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.” The co-founder and CEO of Amun, Hany Rashwan said that the product has been designed for the Swiss by the Swiss to answer a need for a Swiss Franc (CHF)-denominated ETP. “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.” Reports surfaced earlier in the year announcing SIX had opened its doors to crypto-financial tools in recent years as part of an overall move to embrace the sector. The firm is currently undergoing a launch for a blockchain-powered version of its platform called SDX however the release was delayed. However, a prototype will launch prior to a later mainnet release near the end of next year. SDX chairman Thomas Zeeb highlighted this at the time saying: “SDX is a testament to the innovative nature of the Swiss stock exchange and the foresight of its shareholders - we are combining existing market technology with revolutionary new technologies to create the market of the future.” It will be interesting to see how this situation plays out. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe! For more news on this and other crypto updates, keep it with CryptoDaily!

a year ago

BTC and ETH Based ETPs Launched on Swiss Stock Exchange SIX

Switzerland’s primary stock exchange SIX has recently launched an exchange-traded product (ETP) with a combination of Bitcoin(BTC) and Ether(ETH). Crypto tracking tools present on equity exchange platforms help institutional and retail investors easily gain access to crypto assets. Investors Can Now Add A Basket of Bitcoin and Ethereum to Their Portfolios The newly launched product will help the Swiss investors add a basket of Bitcoin(BTC) and Ethereum(ETH) to their portfolios. For the same, the firm has partnered with cryptocurrency custodian Bitcoin Suisse AG to launch the ETP. Presently, the basket composition of the product is 90% of BTC and 10% of ETH. What is an Exchange- Traded Product? An Exchange Traded Product is a financial security that derives its price from other underlying assets. It can be traded on the traditional stock exchange like any other stock or commodity. Intra-day orders of the ETPs can be also be placed. Moreover, Exchange Traded Products can not only be used to place intra0day orders but also to develop other financial products on it. From The Co- Founder’s Desk Hany Rashwan, Co-founder, and CEO of Amun said that the product fulfills the need for a Swiss Franc (CHF)-denominated ETP. He said, “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.” As a matter of fact, the ETP is fully collateralized. This implies that for every Bitcoin and Ether purchased for the product, there will be an equivalent crypto amount stored securely in Bitcoin Suisse Vault. Now, Amun AG has a total of seven cryptocurrency ETC products listed on the six Exchange. The list includes XRP-based ETP, a BTC-based ETP, a bitcoin cash (BCH)-based ETP, an ETH-based ETP, the Amun Crypto Basket Index ETP and Amun Bitwise Select 10 Large Cap Crypto Index ETP. About Amun AG Amun was established in 2018 and has its headquarters in Zurich. It is led by an experienced professional in the management industry and employed institutional level security and custody arrangements with safety measures which include a multiplicity of private key system and cold storage of underlying assets. The post BTC and ETH Based ETPs Launched on Swiss Stock Exchange SIX appeared first on Coingape.

a year ago

SIX Launches First Crypto ETP In Swiss Franc

Swiss stock exchange SIX is set to launch another crypto product. It is a BTC/ETH exchange-traded product (ETP) dominated by Swiss Franc under ABBA ticker. It consists of 75% of the cryptocurrency market, with nine parts of Bitcoin and one part of Ethereum. The new product is launched by Fintech firm Amun and crypto service company Bitcoin Suisse. Amun CEO Haly Rashwan believes it is the Swiss way of doing things as it is safe, cheap, and conservative. Unlike the previously traded Exchange Traded Notes (ETN), ETPs are legally obligated to be backed 100%. Bitcoin Suisse currently holds about $1 Billion in Bitcoin. (VS)

a year ago

SIX Exchange Launches First Crypto ETP in Swiss Franc

Swiss stock exchange SIX has listed the Amun Bitcoin Suisse BTC/ETH exchange-traded product (ETP).

a year ago

Amun Launches First Collateralized Crypto ETP

A new cryptocurrency exchange-traded product has launched today on the SIX Swiss Exchange, marking the first time investors will be able to purchase a single collateralized ETP made up of more than one cryptocurrency. A collaboration between the Swiss-based companies, Amun and Bitcoin Suisse, the ‘ABBA’ ETP gives investors weighted exposure to Bitcoin (BTC) and Ether (ETH), two-assets which, by themselves, currently constitute more than three-quarters of the digital asset market. “The Amun Bitcoin Suisse Index aims to track the financial performance of Bitcoin and Ethereum,” explained Ophelia Snyder co-founder of AMUN. The ETP is weighted based on market capitalization and is held currently at 90% BTC and 10% ETH. The ABBA ETP is fully collateralized, with a corresponding amount held in custody by Bitcoin Suisse. The product relies on data supplied by MVIS index provider in order to ensure prices match the actual spot price. The product is designed with Swiss-based retail investors in mind, and can be purchased directly with Swiss Francs. “The idea of having a totally focused Swiss-based product should attract retail as well as qualified investors,” explained Laurent Kssis, Director of CEC Capital. “This is unique and a great concept to bring over 75% of the crypto market capitalisation into an ETP structure.” Amun first came to prominence in November of last, when it unveiled the Amun Crypto Basket ETP, tracking an index of the five largest cryptocurrencies by market cap. CEO Hany Rashwan said to the FT at the time that the product was designed to give institutional investors, some who are restricted to securities, legitimate exposure to the asset class. In late June, Amun announced the launch of the KEYS ETP, in collaboration with Bitwise, that tracked an index of the top ten largest cryptocurrencies by market cap. The post Amun Launches First Collateralized Crypto ETP appeared first on Crypto Briefing.

a year ago

Bitcoin, Ether exchange-traded products go live on Switzerland’s SIX Exchange

Zurich-based stock exchange, SIX Swiss Exchange, was in the news previously after it revealed that it would initiate an “initial digital offering” [IDO] by mid-2020. In a recent update, the stock exchange has made an exchange-traded product [ETP] available on its platform. The ETP is live on the platform with Bitcoin [BTC] and Ether [ETH]. The post Bitcoin, Ether exchange-traded products go live on Switzerland’s SIX Exchange appeared first on AMBCrypto.

a year ago

Swiss SIX exchange lists bitcoin and ether exchange-traded product

An exchange-traded product (ETP) with a combination of bitcoin (BTC) and ether (ETH) has gone live on Switzerland’s primary stock exchange SIX. Fintech firm Amun AG and cryptocurrency custodian Bitcoin Suisse AG have partnered to launch the ETP, which will allow Swiss investors to add a basket of BTC and ETH to their portfolios, according to a press release shared with The Block on Thursday. Currently, the basket composition of the product is 90% of BTC and 10% of ETH. The ETP goes with the ticker symbol ABBA for trading on SIX. “This physically-backed ETP is fully collateralized, which means that for every bitcoin and ether bought for the ETP, there will be an equal corresponding crypto amount stored securely in the Bitcoin Suisse Vault,” said Amun AG. Hany Rashwan, co-founder and CEO of Amun said that the product has been designed for the Swiss by the Swiss to answer a need for a Swiss Franc (CHF)-denominated ETP. “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.”

a year ago

Autoridade de Conduta Financeira (FCA) do Reino Unido propõe banir ETNs de Bitcoin

A Autoridade de Conduta Financeira (FCA) do Reino Unido está consultando uma proposta de proibição de Notas de Negociação (ETNs) de criptomoedas, alegando que os clientes podem ter perdas. Alguns fatores citados pela FCA: Complexidade dos ativos subjacentes; Falta de transparência em torno de sua avaliação; Falta de conhecimento e entendimento dos consumidores; Os preços dos tokens são voláteis, o que reflete no investimento; Disparidade entre o retorno esperado dos consumidores e o risco real; Falta de transparência e significativo impacto dos custos e cobranças sobre os lucros. A FCA destaca especificamente as ETNs de Bitcoin e Ethereum da Coinshares, afirmando: “duas empresas oferecem acesso à ETNs na Nasdaq Nordic. Elas relataram que há cerca de 11.000 clientes com cerca de 97 milhões de libras investidas no período de final de janeiro de 2019 e 30 de dezembro de 2018, respectivamente.” O número que elas fornecem parece ser o total de ativos sob gestão, que aumentaram cerca de 5x desde dezembro. Não está claro quanto pertence aos residentes do Reino Unido. A Trustnodes pediu esclarecimentos à Meltem Demirors da Coinshares, e até o momento não obteve resposta. A Coinshares pediu aos usuários de criptomoedas que respondessem à consulta da FCA, declarando: “A exposição à criptoativos fornece uma fonte valiosa de retornos e diversificação para investidores, sejam tais ativos mantidos sob custódia do investidor ou em forma de fundos de pensões. O COINXBE registrou lucros de 8,2% em uma média composta desde seu início; em quatro dos últimos cinco anos, incluindo 2019 até a data, os retornos foram positivos. De qualquer forma, diferentemente dos CFDs, as ETNs não são alavancados, de modo que perdas potenciais podem ser facilmente percebidas e gerenciadas pelos investidores, caso ocorram. E é importante notar que o Bitcoin não tem relação com ativos como ações e títulos, oferecendo uma valiosa fonte de diversificação para os investidores.” A consulta junta CFDs, que podem ter alavancagem muito alta, às vezes em torno de 500x, com as ETNs, que nesse caso não possui alavancagem e, nesse modelo, são apenas uma maneira indireta de comprar bitcoin à vista, pois alegam que tais ETNs são totalmente atreladas em bitcoin. Como um Produto Negociado em Bolsa (ETP), as ETNs ficam sob a jurisdição da FCA, que chegou a conclusão que devido a possíveis danos, os proibirá. Para usuários comuns de Bitcoin ou Ethereum, uma proibição não faria muita diferença, pois eles ainda podem comprar as criptomoedas em exchanges como a Coinbase, mas como as ETNs são reguladas e seguradas, as corretoras podem oferecê-las em portfólios de ações ou pensões. Portanto, uma proibição provavelmente teria um efeito muito baixo, com a própria FCA reconhecendo a chance de que clientes possam comprar criptomoedas diretamente de uma exchange. No entanto, eles dizem que têm jurisdição sobre ETNs, então eles podem proibi-los e, portanto, a proposta é exatamente esta, alegando que “isto reduziria as perdas dos consumidores entre 75 milhões e 234,3 milhões de libras”. Eles dizem que entre junho de 2017 e dezembro de 2018, as perdas totais das ETNs chegaram a 38,3 milhões de libras, declarando: “Reconhecemos que alguns clientes obtiveram lucros durante o período que examinamos. No entanto, consideramos que a variação nos resultados dos clientes é consistente com nossa análise de política. Ou seja, o valor desses produtos no curto prazo é altamente imprevisível e propenso a extrema volatilidade devido à natureza de tais ativos. Não acreditamos que os lucros obtidos de novembro de 2017 até março de 2018 signifiquem que os consumidores terão benefícios no futuro. Além disso, também temos preocupações em relação ao efeito dos eventos de ‘hard forks’, vimos perdas totalizando 18,2 milhões de libras em novembro de 2018, coincidindo com o hard fork do Bitcoin Cash... Esta foi a segunda maior perda acumulada após março de 2018 (-20,5 milhões de libras). Esperamos que nossa proposta elimine este malefício, impedindo novos investimentos em criptoderivativos.” Este relatório foi publicado em julho de 2019. Se tal conta fosse feita no período de junho de 2017 a junho de 2019, o lucro com o bitcoin teria sido de 300% ou mais. Em vez disso, o relatório vai até o final de dezembro de 2018, quando o preço do bitcoin estava três vezes menor do que no momento da publicação do relatório. A Coinshares reafirma isto, dizendo que “de junho de 2017 a dezembro de 2018 foi uma escolha seletiva para mostrar o menor benefício possível para os investidores”. O documento não nomeia um autor, portanto, a própria FCA está tentando adivinhar o que acontecerá com o preço do bitcoin, afirmando efetivamente que eles não acham que os ganhos de novembro de 2017 se repetirão. Isso entra em contrante com a afirmação da SEC, ao comentar sobre qual rumo o preço pode tomar. Além disso, exceto por uma suspensão temporária, a SEC permitiu a negociação das ETNs de bitcoin e ether nos EUA. Portanto,

a year ago

VanEck, SolidX Drop Bitcoin ETF Race, SEC Approval Until 2020 Unlikely

On Sept. 17, the Chicago Board Options Exchange’s BZX Equity Exchange withdrew its VanEck/SolidX Bitcoin exchange-traded fund (ETF) proposal a month ahead of the review deadline. The United States Securities and Exchange Commission (SEC) — the regulator on the matter — had until Oct. 18 to greenlight or reject the financial product. As a result, the race for the first Bitcoin (BTC) ETF seems to be postponed once again. While the SEC is still reviewing two other proposals of this kind, the VanEck/SolidX Bitcoin ETF was generally perceived as the strongest contestant to get regulatory permission and debut this investment vehicle in the U.S. Chances are the industry will not see a crypto-based ETF until 2020 at the earliest. What is an ETF? An ETF is a type of investment fund that is tied to the price of an underlying asset — a commodity, an index, bonds or a basket of assets — like an index fund. It is listed and traded on exchanges, normally available to both retail and institutional investors. As of September 2019, ETFs represent a $3.9 trillion market, according to research firm XTF, cited by the Wall Street Journal. Related: SEC Continues to Stall on BTC ETFs, All in Wait for Breakthrough A Bitcoin ETF, in turn, would track Bitcoin as the underlying asset. It is an indirect way to purchase cryptocurrency, in which the investor gets the corresponding security without having to hold the actual BTC coins. If listed on a regulated U.S. exchange, a crypto-powered ETF could set the stage for institutional investors, potentially pushing Bitcoin toward the financial mainstream. However, no player has secured the permission to list a Bitcoin ETF in the U.S. yet, as the SEC has been denying and postponing all attempts to register a Bitcoin-focused financial product in the country. Some of the financial watchdog’s main arguments against approving Bitcoin ETFs include the supposedly “insignificant” size of Bitcoin futures market, as well as the possibility of fraudulent and manipulative acts and practices. VanEck and SolidX — a persistent candidate for a Bitcoin ETF Both VanEck, an investment firm, and blockchain-focused financial service company SolidX had tried registering their ETFs separately beforehand — in August 2017 and in July 2016 respectively — but the SEC shut down both attempts. In June 2018, they teamed up and filed a request to list a collaborative Bitcoin-based ETF on the CBOE BZX Equities Exchange, the second-largest U.S. equities market operator. The fund is tied to VanEck’s subsidiary index MVIS, which will ostensibly calculate the real-time price of BTC based on executable bids and asks derived from U.S.-based crypto over-the-counter (OTC) markets instead of more conventional crypto exchanges, with SolidX is sponsoring the project. Each share of the VanEck-SolidX Bitcoin Trust is set to $200,000. SolidX CEO Daniel H. Gallancy previously explained that the high price reflects the fund’s intention to attract institutional rather than retail investors. In August 2018, the SEC postponed its decision on the listing of the VanEck-SolidX ETF for the first time, citing the unregulated nature of Bitcoin market. In November, representatives from VanEck, SolidX and CBOE met with the SEC to discuss their ETF proposal. According to the memorandum that was released after the meeting, the applicants argued that Bitcoin was in fact more resistant to market manipulation than its traditional counterparts — e.g., crude oil, silver and gold — all of which already have ETFs on the market. Nevertheless, in December, the SEC delayed its decision again. The agency set a new deadline for Feb. 27, 2019 in order to further review the rule change proposals. However, the next month, CBOE withdrew the ETF application just a few weeks before it would have faced a verdict from the regulator. As an CBOE spokesperson told Cointelegraph at the time, the decision to pull out was the result of the U.S. government shutdown as the end of the review period on Feb. 27 approached. As Cointelegraph previously reported, the shutdown largely undermine the work of the SEC, among other government agencies. On Jan. 30, CBOE, VanEck and SolidX resubmitted their proposal, making it approximately 40 pages longer compared to the previous version. Still, in March, May and later in August the SEC delayed its decision. The reasoning stayed the same, as the commission requested more answers to questions related to protecting investors and public interest from fraud and similar exploitations. According to the SEC, the latest postponement pushed the decision for listing the VanEck-SolidX ETF to Oct. 18. Latest developments: Limited ETF, second withdrawal In September, VanEck and SolidX started to offer a limited version of their Bitcoin ETF to institutional investors under the SEC’s Rule 144A, which allows the sale of privately placed securities to “qualified institutional buyers,” namely institutions like banks and hedge funds who have at least $100

a year ago

A2 Trader, Blue Benx e NYC Technology, mais três empresas na mira da CVM

A Comissão de Valores Mobiliários do Brasil, CVM, destacou que abriu processo administrativo para investigar as atividades de mais três empresas acusadas de praticar atos irregulares no Brasil. Segundo a autarquia a A2 Trader, Blue Benx e NYC Technology, todas empresas que operam no campo do Marketing Multi Nível oferecendo altos rendimentos por meio de diversas operações, entre elas, Bitcoin e criptomoedas, não têm autorização da autarquia para atuar neste segmento. No caso da Blue Benx, que oference rendimentos a partir de um suposto investimento em uma cesta de ativos que inclui Bitcoin, Litecoin, Bitcoin Cash, EOS, IOTA, Ethereum, Ripple, Ethereum Classic, ZCash, NEO, Metaverse ETP, Stellar e Tron foi aberto o Processo Administrativo SEI nº 19957.008753/2019-19 para o exame da questão junto a Gerência de Orientação aos Investidores (GOI-2). “Informamos a existência do Processo Administrativo SEI nº 19957.006371/2019-42, que foi aberto em decorrência de denúncia contra A2 TRADER. (...) Caso sejam identificados indícios de atuação irregular da A2 TRADER e/ou do Sr. Kleyton, poderá a CVM determinar a suspensão da atividade irregular, aplicar as sanções administrativas previstas no art. 11 da Lei 6385 e comunicar a ocorrência de crime contra o mercado de capitais e/ou a existência de indícios de crime de ação pública, ao Ministério Público”, destaca a CVM. E, no caso da da NYC Tecnologies o Processo foi instalado por conta de uma denúncia encaminhada a Gerência de Orientação aos Investidores. Segundo a acusação a NYC opera um esquema supostamente fraudulento que oferece rendimentos impraticáveis, levando a CVM a instalar o Processo Administrativo 19957.008762/2019-00 (SP2019/601). Em todos os casos a CVM destacou que após as investigações deve se pronunciar oficialmente em seu portal oficial sobre as empresas e, caso seja necessário, pode emitir um alerta recomendando o encerramento das atividades Saiba mais em A2 Trader, Blue Benx e NYC Technology, mais três empresas na mira da CVM

a year ago

Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

Futures contracts on bitcoin cash can be available at a CFTC-regulated exchange by the end of this year or the first quarter of 2020. This will allow institutional U.S. investors to trade on a derivative of the cryptocurrency and bring in more trading volume for BCH overall. Also Read: HTC Adds Native Bitcoin Cash Support to Its Flagship Smartphone Bitcoin.com Champions Bitcoin Cash Futures Bitcoin.com is in discussions about listing a bitcoin cash (BCH) futures contract on a new exchange with approval from the U.S. Commodity Futures Trading Commission (CFTC). David Shin, the head of the exchange business at Bitcoin.com, expects the new instrument can reach the market by the end of the year, or the first quarter of 2020, and that it will be cash-settled on day one. The goal of having a BCH futures contract on a CFTC-regulated venue is to open up the U.S. market so that more institutional traders can gain exposure to the cryptocurrency and thus generate higher trading volumes in total. Additionally, there is interest from some retail brokers in offering trading on such a regulated instrument, and Shin is also in talks with them about the possibility. “We are in discussion with a US exchange that will shortly be CFTC approved to list a BCH futures contract to create greater demand for BCH and increase trading volumes,” Bitcoin.com CEO Stefan Rust explains. “There are two main reasons behind this. First, with BCH futures, institutions will be able to manage the exposure to market volatility better and therefore protect funds under management better, and hence allocate a larger portion of their funds to BCH. Second, with this product BCH is also accessing a new US financial services market through futures that is CFTC regulated. This is a massive market that’s new to BCH. Both of these drive up volumes which in turn drives up demand for BCH which will lead to an increase in market value. This is largely driven by futures volumes in the US market increasing demand and ultimately the value.” Regulators Keep US Market Behind in Crypto Adoption The Chicago Mercantile Exchange (CME Group) does offer financially-settled BTC futures contracts for U.S. investors. However, by global comparison, American regulators have made it very difficult for investors to access the global cryptocurrency market with ETFs and the same is true for derivatives. For example, a number of companies have been working hard to launch regulated physically-delivered bitcoin futures contracts in the U.S., but their efforts have so far been hampered by the CFTC. Last month the CEO of Ledgerx, Paul Chou, had to retract the news that his company went live with bitcoin futures for retail trading after it received regulatory approval for swaps. Ledgerx launched its institutional trading platform back in 2017 and has been waiting ever since for the specific CFTC approval for the instrument. He also complained that the regulators were not doing their job and threatened to sue the CFTC for anti-competitive behavior and breach of duty. Another trading platform recently approved by the CFTC for physically-delivered bitcoin futures is TD Ameritrade-backed Erisx. However, the most anticipated venue to enter the market is Bakkt, the digital assets subsidiary of New York Stock Exchange parent, Intercontinental Exchange (NYSE: ICE). Back in 2018 ICE announced that the Bakkt Bitcoin Daily Futures Contract would start trading on Dec. 12, 2018. This has not happened, and the launch date has been pushed back again and again. The reason for this according to media reports is the necessity of compliance with cumbersome CFTC demands. If nothing changes again, Bakkt is now expected to bring physical delivery futures contracts to market participants in more than 30 countries by the end of 2019. The International BCH Derivatives Market Besides some of the biggest players in the traditional finance markets trying to enter the cryptocurrency derivatives business, we have also seen companies from the digital assets industry focus on filling the same niche. Among those crypto trading venues who started offering bitcoin cash derivatives to their traders we can list Bitmex, U.K. FCA-regulated Crypto Facilities, Hong Kong-based Coinflex and Huobi Derivative Market (Huobi DM). While these types of exchanges are a good option for experienced crypto traders to get into highly leveraged long and short positions on BCH, they don’t have the global brand power of being CFTC-regulated, which will serve as a major seal of approval for the cryptocurrency in the eyes of timid investors once they launch bitcoin cash futures. Bitcoin.com has already been successful in making BCH instruments more accessible to traditional investors around the world. Amun AG, a Swiss company facilitating access to crypto asset investments, announced in July that it had listed the first exchange traded product (ETP) tracking the performance of bitcoin cash on Switzerland’s principal stock exchange. The Am

a year ago

Metaverse DNA Token Now Live On RightBTC Exchange

Metaverse has announced the successful listing of its DNA token on RightBTC exchange and trading has begun since September 2019. DNA token is part of the Metaverse Dual Chain Network Architecture. Established in 2016, the Metaverse blockchain network eliminates the pain points in DLT including scalability, security, and genuine decentralization. Metaverse survived the crypto winter of 2018 and its currently among the top 100 blockchain projects by market cap and the team is now looking to solidify its position by launching a suite of blockchain solutions. Metaverse distinguishes itself from other blockchain projects through its multiple blockchain technology innovations within a unified ecosystem. Intricate Features of Metaverse The Metaverse Dualchain Network Architecture (DNA)creates a solid balance between scalability, security and decentralization and the project uses a second chain powered by a delegated proof of stake (DPoS) consensus mechanism to achieve this. The second chain is also powered by DNA tokens, which functions as the native crypto of the Metaverse ecosystem, supporting the payment of fees for the decentralized apps (dApps) running on the network. With a block time of 0.4 seconds, the DNA chain is very scalable, powering huge transactions and complex smart contracts and it also comes with the KrawlCat Generalized Oracle, which communicates between the ETP chain and transactions done on the DNA chain. Importantly, the Dualchain Network provides more security to users and it’s immune to 51% attacks. DNA on RightBTC The RightBTC exchange has high order matching the speed, supports various order types and comes with a high degree of security for cryptos. The supported pairs include DNA/USDT, and DNA/ETH and users will be able to trade on the web, iOS, and Android. “The listing on RighBTC will provide huge liquidity to the DNA token, as well as a valuable new stable coin on-ramp through USDT. We are very proud of the fast development and the market entrance of the Dualchain solution, and we will keep on delivering technology improvements to the industry,” said Eric Gu, CEO of Metaverse Foundation. Eric Gu is a prolific blockchain investor and crypto big whale. Metaverse is a public ledger that combines a vast array of blockchain innovations within a single platform. Website: https://mvsdna.com/ Twitter: https://twitter.com/MVSDNA Email: contact@mvsdna.com Disclosure/Disclaimer: This press release is sponsored and produced by a third-party source and should not be viewed as an endorsement by ZyCrypto. Readers are urged to do their own research before investing or having anything to do with the company, goods and/or services mentioned in the above article. The post Metaverse DNA Token Now Live On RightBTC Exchange appeared first on ZyCrypto.

a year ago

@amitarora7719 Hi @amitarora7719, the DNA rewards were given...

@amitarora7719 Hi @amitarora7719, the DNA rewards were given to those who participated in RightBTC's ETP Hodl event… https://t.co/kvvjwCjJ8n

a year ago

Metaverse Foundation Launches New DNA Token on RightBTC

Coinspeaker Metaverse Foundation Launches New DNA Token on RightBTCEric Gu, CEO of Metaverse Foundation, said:“The listing on RightBTC will provide huge liquidity to the DNA token, as well as a valuable new stable coin on-ramp through USDT.”“We’re very proud of the fast development and the market entrance of the Dualchain solution, and we will keep on delivering technology improvements to the industry”.Founded in 2016, Metaverse is a pioneering public blockchain that solves three of the major pain-points for blockchain technology - scalability, security, and true decentralization. Having emerged as a top 100 blockchain project by market cap despite the tough market conditions of 2018, Metaverse is now poised to launch its full suite of blockchain products.However, Metaverse is distinctly different from other blockchain projects, bringing together multiple distributed ledger technology (DLT) innovations within one unified ecosystem.So, what makes Metaverse different from other DLT projects, and how is their Dualchain solution disrupting the current structure of blockchain protocols?Introducing Metaverse Dualchain Network ArchitectureMetaverse delivers multiple solutions through a single blockchain ecosystem. Metaverse’s integration with the Dualchain Network Architecture (DNA) enables a balance between scalability, security, and decentralization. Metaverse uses a second chain to achieve this, hence the name ‘Dualchain’, which runs parallel to the Metaverse blockchain using a delegated proof of stake (DPoS) consensus mechanism.This second chain is powered by DNA tokens, which are used to support and pay fees for the advanced decentralized applications built on-chain. The DNA chain is highly scalable, with a block time of just 0.4 seconds, enabling an increase in transaction volume and by extension, higher complexity of smart contracts built on the DNA blockchain.The ‘KrawlCat Generalized Oracle’ is deployed to communicate between the ETP chain and transactions made on the much faster DNA chain.The Dualchain Network offers greater security guarantees than previous chains, which rely only on a single consensus mechanism, by utilizing three simultaneous methods of consensus. As a result, attacks on the Metaverse Network, such as a 51% attack, would require a much greater degree of computational power, creating a safe and secure blockchain ecosystem.Listing on RightBTCRightBTC stands out with high trading speed matching which executes trades virtually instantaneously, provides a variety of order types, and offers a high degree of digital asset security. Users will be able to trade DNA tokens against USDT and ETH pairings, available to trade both via RightBTC’s web-based exchange, or their iOS and Android apps.About MetaverseFounded by prolific blockchain investor and early crypto adopter Eric Gu, Metaverse is a public ledger, combining a multitude of blockchain innovations within one platform.Metaverse provides a full suite of features, including the ability to create trustless and immutable tokenized assets, Metaverse Smart Tokens (MST), which can be freely issued, traded, and transferred within the Metaverse ecosystem. Digital identities are facilitated via Metaverse’s decentralized ledger, providing Metaverse ecosystem users with a self-sovereign identity when transacting with the blockchain. Find out more at mvs.orgAbout Dualchain Network ArchitectureDualchain Network Architecture (DNA) is a new and much faster blockchain parallel to the existing Metaverse chain and uses Delegated Proof-of-Stake as its consensus algorithm. DNA provides far greater transactions per second and allows for powerful smart contracts that empower newer and more complex decentralized applications (DAPPs).To stay informed with the latest of Metaverse Dualchain Network Architecture, visit our website at mvsdna.com.Metaverse Foundation Launches New DNA Token on RightBTC

a year ago

PR: Metaverse Foundation Launches New DNA Token on RightBTC

September 11th, 2019 - Toronto, Canada Metaverse announced today that their Dual Chain Network Architecture, has officially launched the native DNA token on RightBTC, a leading cryptocurrency exchange, with trading commencing from 6:00 am UTC, September 10th. “The listing on RightBTC will provide huge liquidity to the DNA token, as well as a valuable new stable coin on-ramp through USDT”, said Eric Gu, CEO of Metaverse Foundation. “We’re very proud of the fast development and the market entrance of the Dualchain solution, and we will keep on delivering technology improvements to the industry”. Founded in 2016, Metaverse is a pioneering public blockchain that solves three of the major pain-points for blockchain technology - scalability, security, and true decentralization. Having emerged as a top 100 blockchain project by market cap despite the tough market conditions of 2018, Metaverse is now poised to launch its full suite of blockchain products. However, Metaverse is distinctly different from other blockchain projects, bringing together multiple distributed ledger technology (DLT) innovations within one unified ecosystem. So, what makes Metaverse different from other DLT projects, and how is their Dualchain solution disrupting the current structure of blockchain protocols? Introducing Metaverse Dualchain Network Architecture Metaverse delivers multiple solutions through a single blockchain ecosystem. Metaverse’s integration with the Dualchain Network Architecture (DNA) enables a balance between scalability, security, and decentralization. Metaverse uses a second chain to achieve this, hence the name ‘Dualchain’, which runs parallel to the Metaverse blockchain using a delegated proof of stake (DPoS) consensus mechanism. This second chain is powered by DNA tokens, which are used to support and pay fees for the advanced decentralized applications built on-chain. The DNA chain is highly scalable, with a block time of just 0.4 seconds, enabling an increase in transaction volume and by extension, higher complexity of smart contracts built on the DNA blockchain. The ‘KrawlCat Generalized Oracle’ is deployed to communicate between the ETP chain and transactions made on the much faster DNA chain. The Dualchain Network offers greater security guarantees than previous chains, which rely only on a single consensus mechanism, by utilizing three simultaneous methods of consensus. As a result, attacks on the Metaverse Network, such as a 51% attack, would require a much greater degree of computational power, creating a safe and secure blockchain ecosystem. Listing on RightBTC RightBTC stands out with high trading speed matching which executes trades virtually instantaneously, provides a variety of order types, and offers a high degree of digital asset security. Users will be able to trade DNA tokens against USDT and ETH pairings, available to trade both via RightBTC’s web-based exchange, or their iOS and Android apps. About Metaverse Founded by prolific blockchain investor and early crypto adopter Eric Gu, Metaverse is a public ledger, combining a multitude of blockchain innovations within one platform. Metaverse provides a full suite of features, including the ability to create trustless and immutable tokenized assets, Metaverse Smart Tokens (MST), which can be freely issued, traded, and transferred within the Metaverse ecosystem. Digital identities are facilitated via Metaverse’s decentralized ledger, providing Metaverse ecosystem users with a self-sovereign identity when transacting with the blockchain. Find out more at mvs.org About Dualchain Network Architecture Dualchain Network Architecture (DNA) is a new and much faster blockchain parallel to the existing Metaverse chain and uses Delegated Proof-of-Stake as its consensus algorithm. DNA provides far greater transactions per second and allows for powerful smart contracts that empower newer and more complex decentralized applications (DAPPs). To stay informed with the latest of Metaverse Dualchain Network Architecture, visit our website at mvsdna.com. Follow Metaverse DNA on Twitter: twitter.com/MVSDNA Media Contact Details Contact Name: Estrella Li Contact Email: contact@mvsdna.com This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Image Courtesy: The post PR: Metaverse Foundation Launches New DNA Token on RightBTC appeared first on BitcoinNews.com.

a year ago

Daily Berminal Brief: Bitcoin Price Continues to Slide as the Market Looks for a Catalyst

The overall crypto market is in the red on Tuesday, as the total market cap has fallen from $266 billion to its current level of $262 billion after dipping as low as $258.6 billion. Bitcoin is currently trading at a price of $10,182, a decrease of 1.71% on the 24-hour chart, while Ethereum is down 0.69% and currently trades at $181.43. Out of the top 100 projects, the best performing coin over the past 24-hours has been Metaverse ETP (ETP), currently up 29.61% and trading at a price of $0.700108. Bitcoin dominance is currently at 69.6%. (JF)

a year ago

U.K.’s First FCA-Authorized Crypto Arbitrage Hedge Fund Has Arrived

Institutional investors’ choices to invest in crypto-assets continue to expand. Now, Nickel Asset Management has raised $50 million to participate in the market through a new crypto investment fund. Crypto Market Becoming a “High-Octane World” Study upon study shows that interest to invest in Bitcoin and other crypto-assets continues to gain momentum. As a result, financial firms are continuously developing new financial products to target the vast potential pool of investors all over the world. Most recently, the U.K. based hedge-fund manager Nickel Asset Management Ltd. announced that it had obtained a total for $50 million in a single venture fund to develop investment opportunities in the crypto market. Thus, on September 9, 2019, the firm launched the Nickel Arbitrage Fund. At the announcement, Anatoly Crachilov, Founding Partner and CEO at Nickel Digital Asset Management, stated, Our vision is that it’s simply a matter of time until digital assets become part of institutional portfolio allocation for forward-looking investors around the world, and we aim to build an institutional-quality gateway to this high-octane world of digital assets. Nickel boasts of being U.K.’s first FCA-authorized digital assets arbitrage hedge fund. Specifically, Nickel is an authorized representative of Helford Capital Partners LLP. The fund specializes in high-frequency quantitative strategies in digital assets. Investors Capitalize On Digital Asset Volatility Some investors find volatility, or sharp price swings, in an asset such as Bitcoin, quite attractive. For them, as volatility increases, the potential to make a profit also increases. Obviously, with volatility, the risk factor also increases. Indeed, trading firms such as Jane Street and Flow Traders are already exploiting cryptocurrencies’ price high volatility. To this end, these two trading firms are actively trading Bitcoin, XRP, Ethereum, Litecoin, and Bitcoin Cash. In this connection, Jane Street and Flow traders are authorized participants for the Amun Crypto exchange-traded product (ETP). Now, Nickel joins the growing number of firms focusing on cryptocurrencies and their inherent volatility. The firm specializes in dealing with volatility. Nickel’s website explains, “the firm maintains market neutral position, generating returns through volatility, market inefficiencies, and price dislocations.” What do you think of institutional investors’ interest in crypto-based hedge funds? Let us know what you think in the comments below. _____________________________________________________________________ Images via Shutterstock The post U.K.’s First FCA-Authorized Crypto Arbitrage Hedge Fund Has Arrived appeared first on Bitcoinist.com.

a year ago

Switzerland Approves Bitcoin Banks - But With Strict Conditions Attached

One of the major problems for businesses in the cryptocurrency industry is finding a bank that agrees to work with them and connect them to the traditional fiat financial system. The financial regulator in Switzerland has just made this easier by licensing two companies to serve as tailored banks for the industry and further open up the market to institutional investors, albeit under very strict AML regulations. Also Read: Immortality, Cryogenics and UBI: How The Crypto Rich Influence Science Swiss Regulator Gives Green Light to Bitcoin Banks The Swiss Financial Market Supervisory Authority (FINMA) has announced on Monday that it has issued banking and securities dealers’ licenses to two “pure-play blockchain service providers” for the first time. The new Swiss crypto banks are SEBA Crypto AG, which is registered in Zug, and Sygnum AG, which is registered in Zurich. With this development they can now offer banking services for institutional and professional crypto clients under supervision by the financial regulator in Switzerland, one of the most advanced markets in the world. SEBA Crypto AG is expected to officially go live in early October 2019 when a previously announced cooperation with the 125 year-old Swiss private bank Julius Baer will enter into force. The startup raised CHF 100 million in a September 2018 funding round and currently employees more than 60 people. The company wants to enable professional individuals and companies as well as institutional clients to invest, safely keep, trade and borrow against traditional and digital assets. In particular, the future offering will include custody storage, trading and liquidity management as well as asset and wealth management. For cryptocurrency companies based in Switzerland, it will provide accounts and custody for fiat and digital assets. Andreas Amschwand, Chairman of the Board of SEBA, commented: “The banking licence of the Swiss Financial Market Authority FINMA is not only a milestone for SEBA, it sets a new standard for banking in the Blockchain and digital asset economy. This moment has significance far beyond the Swiss financial industry.” Sygnum AG has developed a banking solution that embeds digital assets into regulated banking and was built in partnership with Swisscom and Deutsche Börse Group. At its core is an institutional-grade digital custody and fiat-digital asset gateway. Custody is fully integrated with a liquidity platform that offers execution for fiat currencies and major digital assets. Sygnum’s plans for client corporations also include the ability to raise new capital by issuing tokens based on existing financial assets. Additionally, the company offers a loan facility for securing fiat cash flows via loans on digital assets. B2B banking services are also available for existing financial institutions to enable them to provide regulated digital asset products and services to their own customers. “To date, a lack of institutional-grade custody and a truly integrated banking solution has slowed the adoption of digital assets by institutional investors”, commented Luka Müller-Studer, Co-Founder and Chairman, on Monday. “Today’s licence announcement is a game-changer. By methodologically incorporating digital assets into traditional banking, and injecting much needed DLT-driven agility, Sygnum is accelerating the development of an important new asset class.” Stringent Anti-Money Laundering Regulations FINMA has also published guidance on Monday about how it applies the anti-money laundering rules enforced in Switzerland to blockchain technology companies it supervises. The practice set out in this guidance paper applies to the supervision of the two new crypto banks. The regulator say it recognizes the innovative potential of new technologies for the financial industry and applies the relevant provisions of financial market law in a “technology-neutral” way. However, it warns that blockchain-based business models cannot be allowed to circumvent the existing regulatory framework, particularly with regards to the rules for combating money laundering and terrorist financing where it fears that the “inherent anonymity” of the technology presents increased risks. Zug, Switzerland The Swiss regulator noted that in June 2019 the Financial Action Task Force (FATF) issued its guidelines on cryptocurrency regulations. As for traditional bank transfers, information about the client and the beneficiary must be transmitted with transfers of tokens (with the exception of transfers from and to unregulated wallet providers). Only then, for example, can the provider receiving this information check the name of the sender against sanction lists or check that the information provided about the beneficiary is correct. According to the new guidance, institutions supervised in Switzerland are only permitted to send cryptocurrencies or other tokens to external wallets belonging to their own customers whose identity has already been verified and ar

a year ago

Bitcoin Cash 2-Year Anniversary: Celebrating Protocol Development and Achievements

Today Bitcoin Cash (BCH) fans from all around the world will be celebrating the 2-year anniversary of the BCH network. The day is a great occasion to commemorate the dedicated BCH software engineers and the passionate community, alongside the number of achievements accomplished since August 1, 2017. Also Read: Btc.top CEO Highlights the Benefits and ‘Golden Mean’ of Bitcoin Cash Bitcoin Cash Block 478559 Fervent supporters of the Bitcoin Cash blockchain will be gathering together today to celebrate August 1, 2017, the day the BTC chain split into two. The reason BCH exists is due to the fact that a large group of bitcoiners, crypto company executives, early adopters, and developers believed the Bitcoin Core (BTC) development team strangled scaling. The arguments began years ago when the chain’s block size started to fill up and more users utilized on-chain settlement. Core developers decided to remain stubborn and keep the block size at 1MB and in 2017, the debate escalated when tens of thousands of transactions were congested in the network backlog and transaction fees grew astronomical. Before the implementation of Segregated Witness on the BTC network, pools of SHA-256 miners hard forked at 2:14 p.m. EST on August 1, 2017. The Bitcoin Cash (BCH) fork was initiated when the mining pool Viabtc mined the first Bitcoin Cash block (478559). The first Bitcoin Cash block was 1915175 Bytes or 1.9 MB in size, holding 6,985 transactions. That Tuesday, the BCH hashrate started out at around 247 petahash per second (PH/s) or 4% of the BTC network’s hashrate. On August 2, BCH captured the third highest valued market valuation, beating out Litecoin in capitalization. Over the course of the first few days, BCH miners processed six ‘big blocks’ (over 1MB) between August 1-4 and two of them were over 4MB. On August 16 at approximately 8 a.m. EST, an 8MB block was mined on the BCH chain at block height 479469, which processed more than 37,000 transactions. Two days later on Friday, August 18, Bitcoin Cash mining was 21 percent more profitable than mining bitcoin core (BTC). After that specific weekend, BCH hashpower was 20% of the BTC chain’s hashrate on August 21, with 2 exahash per second (EH/s) mining the chain. Since then there’s been a total of 25 major Bitcoin Cash development proposals completed or pending activation on the main chain. Big Blocks and Over 2 Million Transactions in One Day All of the completed developments over the last two years can be seen at the data analytics site Coin Dance alongside BCH protocols under development and under discussion. Bitcoin Cash developers have delivered a lot of code in two years, and many achievements are very unique to the BCH chain. For instance, when the network started, the BCH chain had an 8MB block size limit which was tested on various occasions. After May 2018, the chain bumped the block size limit up to 32MB and even bigger blocks were tested after the feature was added. The Bitcoin Cash blockchain raised the block size limit to 32MB in May 2018. In September, BCH miners processed blocks between 15-23MB in size on the main chain. During the ‘stress-tests’ in September, data had shown that the BCH chain handled more than 2.4 million transactions in a 24-hour period. On November 10, 2018, a few 32MB blocks were mined by the mining operation BMG Pool. Every big block processed on the BCH chain had cleared the mempool (backlog of transactions broadcast to nodes) in one fell swoop. A number of big block tests and further experiments from developers had proved that Bitcoin Cash can scale. Delivered Code and Protocol Development Additionally, software developers have added a great number of technical features that have invigorated innovation. Engineers have re-enabled the old Satoshi opcodes, increased the data-carrier-size from 80 bytes to 220, and implemented the Script operation OP_Checkdatasig. These features allow for an inexpensive way to embed arbitrary data into the main chain, give support to smart contract concepts, oracle creation, decision-based transactions, and more decentralized creations. Bitcoin Cash programmers worked together to design Cashshuffle, and the first privacy-centric solution for BCH was born. Cashshuffle has seen millions of dollars worth of BCH shuffled since the project launched on the Electron Cash light wallet. In time, other BCH clients like Bitcoin.com’s Wallet will be integrating the Cashshuffle code, allowing for larger liquidity when it comes to mixing bitcoin cash. Over a 100,000 BCH has been shuffled with the Cashshuffle protocol since March. BCH developers have also implemented the basic operations for Schnorr signatures on the main chain. The Schnorr concept was designed by Claus Schnorr and BCH developers added the signature technique to the chain at block height 582680. In the future, Schnorr could enhance scaling and privacy a great deal with further upgrades. For now, Schnorr transactions can still create unique transact

a year ago

@Sandorge21 ETP represents the utility of the Metaverse Bloc...

@Sandorge21 ETP represents the utility of the Metaverse Blockchain. ETP's price is not anchored to any fiat currenc… https://t.co/0GA5JZdo3A

a year ago

@philrego Entropy is Metaverse's token and is abbreviated as...

@philrego Entropy is Metaverse's token and is abbreviated as ETP. To know more about ETP and Metaverse, here is the… https://t.co/1HA6oR5E7a

a year ago

Ready to mine $ETP? #Metaverse uses the same ETHASH algorith...

Ready to mine $ETP? #Metaverse uses the same ETHASH algorithm as #Ethereum, so you can mine ETP with your $ETH mini… https://t.co/yTS79HEQWb

a year ago


News courtesy of berminal.com
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