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Bitcoin ETF: All you need to know.

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Bitcoin ETF is an Exchange Traded Fund which is nothing but shares to be traded and backed by Bitcoin dependent on the price of Bitcoin itself.

Understanding Bitcoin ETFs and its current market conditions.

Opening words

With cryptocurrencies being in the spotlight for so many years, it has given rise to a number of other related financial fields like Initial Coin Offering and Bitcoin ETF or Exchange Traded Funds. Due to the highly volatile behavior of the Cryptocurrencies, many investors around the world are quite speculative and hence backed out from investing in them.  While lack of the crypto regulation in many countries, has taken people back in investing in them, some them are opting to stay away during to more regulations on them. People don’t seem to be content with the current suite of more than 1500 types of cryptocurrencies and need a stable counterpart of it, on the stock market to obtain a similar feeling of trading any normal asset apart from the cryptocurrencies.  

 

Bitcoin ETFs

Bitcoin ETF is an Exchange Traded Fund which is nothing but shares to be traded and backed by Bitcoin, whose price fluctuations would be dependent on the price of Bitcoin itself.  In simple words, Bitcoin ETF is nothing but a stock market counterpart of the cryptocurrency market which will open up opportunities for many institutional investors as well as a venture capitalist to come forward and take part in investments. It is even considered to be an innovative way to open up opportunities for the more number of people.

 

Below are some insights with respect to Bitcoin ETF.

  • Bitcoin ETF is like shares backed by the cryptocurrency Bitcoin, which has invariably attracted global investments. Assets like Gold, Silver, Oil, etc are traded through ETFs aka Exchange Traded Funds.  

 

  • It is even considered to be an indirect method of purchasing the cryptocurrency Bitcoin.

 

  • Investing in the Bitcoin ETF is one of the safest methods to shell out profits from them.

 

  • In the recent days, a number of proposals have been put forth before the SEC, to give them a green signal so that they can be traced on the stock exchanges.

 

  • Specifically, Solidx Shares Bitcoin ETF along with Direxion Long and Short Bitcoin ETF are the Bitcoin ETFs which are put forth for the proposal before the SEC to get listed on the New York Stock Exchange (NYSE) along with Chicago Board Options Exchange (CBOE).

 

  • Decision date for Solidx Shares Bitcoin ETF by the SEC is on 10th August and for Direxion Long and Short Bitcoin ETF, the deadline was extended to September.

 

  • This consideration of approval of Bitcoin ETF by the Securities And Exchange Commission is not an easy task, hence it is highly probable that they might postpone both the initiatives, in order to gain maximum time for their decision.

 

  • The initiative has attracted huge support from the major investors and venture capitalist apart from the community members.  

 

  • If at all the ETF are given a green signal, they would be coming into existence, not before January 2019. The reason being that a number of other proposals need to be filed which would take up a lot of time.

  • It is noteworthy that CBOE was also the first exchange to initiate Bitcoin Futures in its portfolio. Therefore, even this action is highly affecting the prices.

 

  • This is considered to be a positive sign in the cryptocurrency space as it is indirectly a regulated form of cryptocurrency.  This is even supported by the fact that JP Morgan and Chase Bank, joined the community after the Initiation of Bitcoin Futures.

 

  • One must be very careful in this hot cryptocurrency field as it is self-evident that anything which is Hot at last turns cold once it reaches its saturation levels.

Conclusion

Each and every single person on the cryptocurrency platform is looking forward for the decision of the Securities and Exchange Commission regarding the Bitcoin ETF which has created a lot of commotion in the highly volatile cryptocurrency market. The recent decision, to postpone might be the reason for the Bitcoin fall which indirectly has rendered the altcoins to experience a bearish trend.

#Blockchain

Adoption: Courts in France adopt blockchain technology

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The NCC or National Council of Clerks of France have finally tested a blockchain technology-based solution for the courts of the country.

The NCC or National Council of Clerks of France recently made an announcement that they have finally tested a blockchain technology-based solution for the courts and are now prepared to launch it throughout France. The National Council of Clerks is a representation of the clerks of the corporate and commercial registry in around a hundred thirty-hour workplaces in France. The workplaces depend upon one another for sharing important data.

 

The goal of NCC France

The NCC is determined to streamline and position the latest information technology that capitulates something that is known as ‘the single version of the truth’. The data tracks an organization’s growth, dissolution, change of location etc. The sharing of data amongst each other was earlier a big challenge for the NCC.

 

The project based on blockchain technology had an aim of rapid cycle times and precision of information. In the pilot phase of the project, the National Council of Clerks in France was able to lessen the timing of registry operation involving a lot of days to just one day.

 

According to the president of France National Council of Clerks, Sophie Jonval, the project based on blockchain technology is an outcome of the partnership with IBM. IBM who is already an expert in blockchain technology and cryptography has been serving as a technological partner.

 

According to the NCC, the project shall be rolled out in the 1st half of 2019 and the project shall ensure a transparent and improved dynamics of the interactions between the clerks.

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HSBC Bank Looking to Expand Blockchain Platform Voltron in South Korea

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HSBC, the largest bank in Europe is searching for banks in South Korea for launching Voltron, it's blockchain platform as reported by the Korean Times.

HSBC, the largest bank in Europe is searching for banks in South Korea for launching Voltron, it’s blockchain platform as reported by the Korean Times.

 

HSBC Voltron:

The Voltron platform delivers a more quick method to process and settle invoices using by using permissioned blockchain technology. The permissioned blockchain stops the transactional data from being shared with everyone but instead, the data is shared with only consented users. The platform decreases the time that is usually required for the total process.

 

According to Joshua Kroeker, the innovation director of HSBC, the platform would mostly impact the process timing. Thus the transparency which comes with blockchain, as well as the rapid flow, would help the banks in managing their working capital as well as their cash flows. Kroeker reached out to the banks in South Korea to partner with their blockchain platform i.e. Voltron for the letters of credit.

 

HSBC’s blockchain platform was initiated in 2018 and is currently partnered with seven banks namely Standard Chartered, Bangkok Bank, BNP Paribas, ING, CTBC Holding, SEB, and NatWest. The platform is still in its pilot stage however, it shall soon be launched commercially.

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World’s biggest Blockchain ETF on London Stock Exchange

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The world's biggest blockchain ETF is scheduled to be launched by Invesco on the London Stock Exchange by Invesco, a large investment management company.

Cryptocurrency enthusiasts around the world have been curiously waiting for a bitcoin ETF to be approved by the SEC or any other potential government in the world. However, before a bitcoin ETF, the world’s biggest blockchain ETF is scheduled to be launched by Invesco on the London Stock Exchange. Invesco is a large investment management company that has more than $800 billion in assets under management.

 

World’s biggest Blockchain ETF

At the launch, the Blockchain ETF will invest in a portfolio of forty-eight companies including the CME Group, a US exchange which had earlier launched bitcoin futures on the exchange and Taiwan Semiconductor Manufacturing, a company that supplies crypto mining machines. Other companies are those that have an exposer to the blockchain technology.

 

The Blockchain ETF will be based on a proprietary scoring system made by Elwwod Asset Management LLP. According to Bin Ren, the chief executive officer at Elwood, the blockchain goes past cryptocurrencies. He mentioned that although blockchain technology is mostly being used by financial companies, it will be implemented in a vast range of industries soon.

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