Abra (a mobile cryptocurrency wallet) has announced that it has enabled to user in 150 countries to make fractional investments in stocks and exchange-traded funds (ETFs) using bitcoin. Bill Barhydt, CEO and founder of Abra said, “…investing regular amounts over long periods of time in traditional equities markets has proven to be an effective investment strategy, and now we’ve made that really easy and accessible to billions of people,
Invesco has launched its Invesco Elwood Global Blockchain UCITS ETF on the London Stock Exchange for trading in partnership with Elwood Asset Management. Bin Ren, CEO of Elwood, added: “Blockchain has been around for a decade, but many people still see it just as the technology behind cryptocurrencies. The true potential, however, may extend far beyond that.”
Nasdaq backed Estonia based DX.Exchange (a digital trading platform) has announced that it has added tokenized Exchange-Traded Funds (ETFs) to its services. Its COO, Amedeo Moscato in a statement: “…Crypto investors who wished to hedge had only USD stable coins or limited options. Now they can invest in real world assets on the blockchain.”
The U.S. Securities and Exchange Commission (SEC) has again postponed deciding over Bitcoin ETF. The new timeline is fixed on 27th February 2019 to review rule change in connection with the Bitcoin ETF cases of VanEck and SolidX. The commission would issue an order of approval or disapproval within 180 days as per the amended rule.
A memorandum was released by the U.S. Securities and Exchange Commission on the Bitcoin ETF proposed by the VanEck and SolidX. The memorandum listed the summary of the applicant’s history with the regulator. The regulatory body quoted the reasons for rejecting ETF applications mentioning “a perceived failure to be consistent with Section 6(b)(5) of the Securities Exchange Act.
The U.S. SEC seeks to receive opinions on the nine different bitcoin exchange-traded funds by 26th October. The authority has rejected the proposals in connection with ProShares, GraniteShares, and Direxion. It scheduled a timeline to review the rule change proposals made in connection with the bitcoin ETFs. The disapproval of proposals would remain in effect.
Coinsquare, the cryptocurrency exchange headquartered in Canada has recently introduced its two new exchange-traded funds called Coincapital STOXX blockchain Patents Innovation Index (LDGR) and the Coincapital STOXX B.R.A.I.N Index Fund (THNK). The launching of the new blockchain ETF is to provide the investors with the exposure to equities in the blockchain sector, robotics, artificial intelligence and many more.
The Securities and Exchange Commission (SEC) seeks to receive further comments in connection with the Cboe Bitcoin exchange-traded fund (ETF). The SEC has not yet arrived at a conclusion. The SEC published a notice recently and stated, “The commission seeks and encourages interested persons to provide comments on the proposed rule change.”
The Securities and Exchange Commission has halted trading of investment products such as Bitcoin Tracker One and Ether Tracker One. The suspension, to address the issue if they are exchange-traded products, has been issued until 20th September. However, the XBT Provider, the issue of Bitcoin Tracker One and Ether Tracker One, did not react to requests made to comment.
The Coinbase exchange would be presenting Bitcoin exchange-traded fund (ETF) in association with BlackRock, an investment management company based in the New York. The Bitcoin ETF would bring the retail investors closer to the crypto market. Reportedly, the exchange has been communicating with the BlackRock’s blockchain working group concerning the launch of Bitcoin ETF.