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Cryptocurrency Market Update: Hope For A Bitcoin Etf Handed A Blow, Bitcoin, Ethereum And Ripple Slash Gains

Cryptocurrency Market Update: Hope For A Bitcoin Etf Handed A Blow, Bitcoin, Ethereum And Ripple Slash Gains

Cryptocurrency market update: Hope for a Bitcoin ETF handed a blow, Bitcoin, Ethereum and Ripple slash gains Bitwise exchange BTC proposal rejected on grounds of failure to demonstrate the ability to deal with market manipulation. The managing director of Bitwise hopes to refile the proposal after working on SECs concerns. The cryptocurrency market retreats led by Bitcoin, Ethereum and Ripple. Cryptocurrency enthusiasts have been forced to deal with the fact that a Bitcoin exchange-traded fund will take longer than expected to get approved. This follows the news that the United States Securities and Exchange Commission (SEC) has rejected the proposal for a BTC ETF filed by Bitwise Asset Management and NYSE Arca. The rejection also comes after multiple delays. The SEC in its statement on Wednesday saysthat Bitwise failed to demonstrate its ability to deal with fraud and market manipulative acts and practices outlined in the Exchange Act. The Managing Director of Bitwise Matt Hougan responded positively to the rejection saying: We deeply appreciate the SECs careful review. The detailed feedback they have provided in the Order provides critical context and a clear pathway for ETF applicants to continue moving forward on efforts to list a bitcoin ETF. We look forward to continuing to productively engage with the SEC to resolve their remaining concerns, and intend to re-file as soon as appropriate. Bitcoin made an eye-catching move from the support I discussed earlier on Wednesday at $8,100. The compelling move was strong enough to pierce through both $8,400 and $8,600 resistance levels. The buyers intent to push the fireworks move higher above $8,700 occurred as planned.However, the momentum hit a snag at $8,712 giving way for a retraction move. Bitcoin is teetering at $8, Continue reading >>

Bitcoin 20% Crash To $8,000 Proves Market Isnt Ready For An Etf

Bitcoin 20% Crash To $8,000 Proves Market Isnt Ready For An Etf

Bitcoin Crash Throws Cold Water in Proposed ETFs Last week, VanEck and SolidX pulled their Bitcoin exchange-traded fund (ETF) proposal from the Securities and Exchange Commission ( SEC ). While no statement was made on why this event took place, it was widely believed that VanEck and its partners did not believe that the Bitcoin industry is ready for a U.S.-regulated, institutional-centric ETF. According to Jake Chervinsky, the general counsel for Ethereum decentralized finance application Compound, this may be true. In a recent tweet, the cryptocurrency-centric lawyer hinted at his opinion that this weeks price action is perfect fodder for cynics of a Bitcoin ETF. Chervinsky noted that Bitcoin dropping by 20% over a few days time without a known catalyst, with much of trading activity taking place on offshore, unregulated margin trading platforms, makes it somewhat illogical to wonder why the SEC still has concerns about the underlying market. the drop made big money for offshore unregulated margin trading platforms trading on those same platforms might've caused the drop in the first place you're still wondering why the SEC has concerns? Jake Chervinsky (@jchervinsky) September 25, 2019 Chervinskys comment echos a line from the CIO of Arca, a cryptocurrency investment firm, issued earlier this year. In a July 1st research note, Jeff Dorman of Arca shared a harrowing thought: Junes volatility, which saw BTC surge to $14,000 then collapse in a spectacular fashion, has dramatically decreased the likelihood of a Bitcoin ETF garnering approval from the SEC. Accentuating the irrationality of the price action seen, Dorman wrote: Its almost a slam dunk now that an ETF wont be approved any time soon, as an 81% 14-day levered rally, most of which occurred after U.S. trading ho Continue reading >>

Grayscale Ethereum Trust

Grayscale Ethereum Trust

Grayscale Ethereum Trusts shares are the first publicly quoted* securities solely invested in and deriving value from the price of ETH. Grayscale Ethereum Trust enables investors to gain exposure to the price movement of ETH through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping ETH. *Publicly quoted on OTCQX under the Alternative Reporting Standards. Shares (based on ETH per Share as indicated below) track the ETH market price, less fees and expenses* Transfer Agent: Continental Stock Transfer & Trust * Grayscale Ethereum Trust does not currently operate a redemption program and may halt creations from time to time. The Trust may, but will not be required to, seek regulatory approval to operate a redemption program. ** Valuation represents the ETH Holdings of the Trust Titled, auditable ownership through a traditional investment vehicle Grayscale Ethereum Trust is a traditional investment vehicle with shares titled in the investors name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws. Shares of Grayscale Ethereum Trust are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts. Eligible shares of Grayscale Ethereum Trust are quoted on OTCQX under the symbol: ETHE, making it possible to buy or sell shares continuously through the trading day at prices established by the market. Supported by a network of trusted service providers Davis Polk & Wardwell LLP serves as legal counsel to the Sponsor of Grayscale Ethereum Trust. Financial statements for Grayscale Ethereum Trust are audited annually by Friedman LLP. Grayscale Ethereum Trusts assets are stored in offline or cold storage with Coinbase Custody Trust Company, LLC, Continue reading >>

U.s. Sec Receives New Bitcoin, Ethereum Etf Application, Will This Be Approved This Time Around?

U.s. Sec Receives New Bitcoin, Ethereum Etf Application, Will This Be Approved This Time Around?

U.S. SEC Receives New Bitcoin, Ethereum ETF Application, Will This Be Approved This Time Around? The SEC has been reluctant in considering ETF applications submitted to it since last year, citing several reasons for the delays. While they are at it, another application has just been filed by the United States Commodity Funds LLC (USCF). The ETF known as the USCF Crescent Crypto Index Fund (ticker symbol XBET) will invest XBETs in BTC and ETH portfolios. The new ETF is aimed at tracking the market capitalization-weighted portfolio of BTC and ETH perform. The application was published yesterday 9 May 2019 by the SEC. Part of the application sheds more light on the ETF. XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges. Shares of XBET are expected to trade on the NYSE Arca under the ticker symbol XBET and will be bought and sold throughout the trading day at bid and ask prices like other publicly traded securities. The SEC is the independent body in the U.S responsible for proposing, enforcing security laws as well as regulating the securities industry. The body also plays a role in the regulation of the cryptocurrency industry and has been working on proposed ETFs from Bitwise and Vaneck since 2018. So far, the SEC has postponed the hearing on these proposals at least three times but it is hoped that the applications will be approved eventually. The approval is expected to contribute significantly to the growth of the cryptocurrency industry and especially Bitcoin by attracting institutional investors to the industry. As the SEC now has three applications to review, it is a sign that the industry may be expanding Continue reading >>

'potentially Unlawful': Sec Sternly Warns Crypto Exchanges Listing Icos

'potentially Unlawful': Sec Sternly Warns Crypto Exchanges Listing Icos

Join our community of 10 000 traders on Hacked.com for just $39 per month. The top US securities regulator has signaled its intent to crack down on cryptocurrency exchanges for alleged violations of federal laws governing securities trading. In a statement dated March 7, the Securities and Exchange Commission (SEC) wrote that cryptocurrency exchanges that list ICO tokens the agency deems to be securities are operating potentially unlawful trading platforms. If a platform offers trading of digital assets that are securities and operates as an exchange, as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration. While most token issuers have sought to skirt securities regulations by categorizing their tokens as utility tokens, SEC Chairman Jay Clayton has repeatedly said that the majority of ICOs he has observed constitute securities offerings. As the SECs statement indicates, the security classification implicates not just companies that distribute their tokens through ICOs but also exchanges that list them on their trading platforms. The statement warned exchanges that currently support unregistered securities trading that they must register with the SEC as a national securities exchange, an alternative trading system (ATS), or a broker-dealer. In advancing the SECs mission to protect investors, the SEC staff will continue to focus on platforms that offer trading of digital assets and their compliance with the federal securities laws, the SEC said. Notably, fintech firm Circle which recently acquired cryptocurrency exchange Poloniex reportedly said during a confidential presentation that the SEC had informally indicated to the firm that it would not pursue any enforcement acti Continue reading >>

Sec To Consider New Bitcoin And Ethereum Exchange-traded Fund Application

Sec To Consider New Bitcoin And Ethereum Exchange-traded Fund Application

SEC to Consider New Bitcoin and Ethereum Exchange-Traded Fund Application The XBET fund from Crescent Crypto Index Services would track the two largest cryptocurrencies. New bid to launch crypto ETF by Crescent Crypto Index Services sees queue for U.S. permission increase by one United States regulator, the Securities and Exchange Commission ( SEC ), is reviewing a new application for a cryptocurrency exchange-traded fund ( ETF ), documents released on May 9 show. The product comes courtesy of Crescent Crypto Index Services, a subsidiary of benchmarking and passive index investing firm Crescent Crypto Asset Management. It would include a portfolio of both bitcoin ( BTC ) and ether ( ETH ), and be active on the New York Stock Exchange ( NYSE ) under the XBET ticker. XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges, the filing confirms. It continues: Shares of XBET are expected to trade on the NYSE Arca under the ticker symbol XBET and will be bought and sold throughout the trading day at bid and ask prices like other publicly traded securities. As Cointelegraph continues to report , the SEC has yet to approve any form of cryptocurrency ETF for the U.S. market. Concerns over compliance mean that rejections have come frequently since the first bid to launch the product in March 2017, with delays contributing to the already slow progress. At the same time, regulators themselves have hinted they are confident that at some point in the future, an ETF will satisfy all the necessary requirements, a view echoed by industry figures. Continue reading >>

Fans Of Digital Currency Ether Can Now Buy Etnsin Sweden

Fans Of Digital Currency Ether Can Now Buy Etnsin Sweden

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Fans of Digital Currency Ether Can Now Buy ETNsIn Sweden CoinShares offers two ether-linked exchange-traded notes Ethereum products are listed on Nasdaqs Sweden exchange Banks Respond to Growing Interest in Cryptocurrencies Ether is becoming more accessible to everyday investors. The digital currency that competes with bitcoin is now available via two exchange-traded notes, which track its price and are available on Nasdaqs Sweden exchange. XBT Provider by CoinShares, which already offers a similar investment vehicle for bitcoin, said in a statement Wednesday that the notes will track the price of ether, as determined by an index rate comprising the average of the three most liquid of a select group of exchange prices daily. The new instruments mean investors can now buy the cryptocurrency through broker instead of via online websites called exchanges or so-called wallets. The price of ether was little changed today at about "Theres a large number of investors who are interested in ether, but dont want to go to exchanges and create a wallet," Eric Balchunas, an analyst with Bloomberg Intelligence, said in a phone interview. "This is for the kind of crowd that is looking at getting an easy way to get crypto." The notes could also be a step toward the U.S. approving Continue reading >>

Ethereum Price Prediction 2018

Ethereum Price Prediction 2018

Twitter Facebook LinkedIn Google+ Pinterest Tumblr Email Editors Note: This article was republished with permission from Investor Mint . Although it is foolhardy to make an Ethereum price prediction with confidence, it may be possible to forecast future prices using various analytic methods. Whether conventional technical analysis, Monte Carlo simulations, or market capitalization comparisons, we explore what the future holds for the price of Ethereum. But in order to make price forecasts for Ethereum, we first need to see how and why it is different to the original cryptocurrency, Bitcoin. Bitcoin may have sparked the cryptocurrency revolution but Ethereum may have greater longevity, which in turn could bode well for forecasters brave enough to make an Ethereum price prediction. While Bitcoin gained popularity as a cryptocurrency that could supplant conventional currencies, like U.S. dollars, euros, and yen, Ethereum has received attention because it has the possibility for broader use beyond payments. The best way to think of Ethereum is as a general purpose platform upon which other applications can be built. Similar to how Apple and Microsoft built operating systems that supported a wide range of software from spreadsheets to budgeting tools, so too can Ethereum support a range of applications related to blockchain technology. The big difference between Bitcoin and Ethereum is that developers are permitted to build applications on top of Ethereums blockchain technology but they are restricted from doing so on top Bitcoins technology. By catering to developers, Ethereum is responsible for the majority of initial coin offerings and its currency has earned a reputation for being robust in the face of cyber attacks. But with hundreds of cryptocurrencies in existence, w Continue reading >>

The First Blockchain Etfs Launched On Nasdaq, Nyse Today

The First Blockchain Etfs Launched On Nasdaq, Nyse Today

The First Blockchain ETFs Launched on Nasdaq, NYSE Today Jan 17, 2018 at 15:00 UTC|UpdatedJan 17, 2018 at 22:04 UTC Reality Shares Advisors and Amplify Trust ETF launched the first blockchain-based exchange-traded funds (ETFs) on Nasdaq and the New York Stock Exchange Arca today. Both funds went live on their respective exchanges at 9:30 a.m. EST. Reality Shares' Nasdaq NextGen Economy ETF (BLCN) opened at $24.20, while Amplify's Transformational Data Sharing ETF (BLOK) started closer to $20. Both ETFs will exclusively invest in blockchain-based companies, according to a previous CoinDesk article . When the prospectuses were first filed in November 2017, the companies noted that investing in blockchain startups could be risky, as there are few regulations on the technology and companies may not necessarily turn a profit. However, the prospectuses also noted that the funds would only invest in companies with a market capitalization of greater than $200 million and which had a six-month daily trading average of at least $1 million. Reality Shares has developed an index with Nasdaq to track blockchain startups which the ETF will utilize, saidKian Salehizadeh, an analyst with Reality Shares. Nasdaq's blockchain research team forms part of the index's contributors. The index is further supported by an algorithm developed by Reality Shares. "We wanted to do a blockchain technology-related ETF, so not another bitcoin fund but something that takes advantage of the underlying ecosystem. So we developed a methodology in-house which measures seven quantitative factors and we run those factors on a universe of publicly traded [data]." He further told CoinDesk that the company's ETF originally contained the word "blockchain" in its name, but the U.S. Securities and Exchange Commiss Continue reading >>

Sec To Evaluate A New Bitcoin (btc) And Ethereum (eth) Etf Application

Sec To Evaluate A New Bitcoin (btc) And Ethereum (eth) Etf Application

The US Securities and Exchange Commission (SEC) is set to review a new Crypto ETF application. A new application for a Bitcoin (BTC) and Ethereum (ETH) Exchange Traded Fund (ETF) was posted by the SEC on May 9th. The product is proposed by Crescent Crypto Index Services LLC, a subsidiary of Crescent Crypto Asset Management Services LLC. The ETF is sponsored by United States Commodities Funds (USCF) with a ticker symbol XBET. The fund will be an index of the two largest Cryptocurrencies by market cap Bitcoin (BTC) and Ethereum (ETH) and would trade on the New York Stock Exchange if approved. XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges. Shares of XBET are expected to trade on the NYSE Arca under the ticker symbol XBET and will be bought and sold throughout the trading day at bid and ask prices like other publicly traded securities. The SEC has not approved any Crypto related product till date, however, multiple Crypto products are trading on Switzerland and Sweden based exchanges approved by its regulators. Currently, the SEC is reviewing three Crypto ETF applications including one from VanEck SolidX and another from Bitwise Asset Management, which recently released a report on Bitcoin exchanges. Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds. Get the latest news on Blockchain only on Blockmanity.com . Subscribe to us on Google news and do follo Continue reading >>

Ethereum Etf? The Bitcoin Crushing Digital Currency Explained

Ethereum Etf? The Bitcoin Crushing Digital Currency Explained

Ethereum ETF? The Bitcoin Crushing Digital Currency Explained Bitcoin and Ether have garnered a lot of attention this year due to explosive surge in prices as also extreme volatility. Ether or etherum had surged to about $400 in June, up almost 5,000% from $8 in January. This week, it fell to below $200, down more than 50% from the recent high but still up more than 2,000% year-to-date. Bitcoin, on the other hand, is up about 125% this year. (Read: Bitcoin ETFThe Skyrocketing Cryptocurrency Explained ) While bitcoin is arguably better known, ether is fast catching up. At this pace of growth, ether, which was founded just about two years back, could become the dominant digital currency in the world in the coming months. There are several reasons for ethers rising popularity. Ongoing feud among bitcoin developers, miners and technical experts over how to expand its processing capacity in order to meet increased demand has also led many investors to ethereum. The bitcoin network currently imposes a limit of seven transactions per second, which has slowed trading and resulted in higher fees. Some believe that bitcoin would eventually be split into two forms. According to a recent survey of digital currency users, 94% of the respondents were positive about the state of ethereum, versus only 49% positive about bitcoin. Per Coindesk, some of the negativity toward bitcoin results from surge in the transaction fees and long processing times. Another reason was many users view bitcoin as less of a digital currency and more of a digital gold or store of value, whereas they believe that ether could function as a currency. (Read: Gold ETFs Awaiting Bullish Reversals in Second Half of 2017? ) Bitcoins reputation has also been hurt by recent global cyberattacks where ransom was deman Continue reading >>

Ethereum Fog (etf) Price, Marketcap, Chart, And Info | Coingecko

Ethereum Fog (etf) Price, Marketcap, Chart, And Info | Coingecko

IMPORTANT DISCLAIMER: All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (Site) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer. CoinGecko provides a fundamental analysis of the crypto market. In addition to tracking price, volume and market capitalization, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics. Continue reading >>

Ethereum Etf Filing Update - Sec Application : Ethtrader

Ethereum Etf Filing Update - Sec Application : Ethtrader

Welcome to /r/EthTrader | Foundation Tip Jar | Rules | Policy | Mod Logs | Vote Tracking | News Timeline | Education | Comments RECDAO is a meta-community that seeks to provide Ethereum-based tools for improving how we use Reddit. Pre-register and then register your Reddit username on the Ethereum blockchain, vote in the dao, and be awarded community tokens based on your karma in community subs. Please see the FAQ for more details. TECHNICAL ANALYSIS FUNDAMENTAL ANALYSIS DISCUSSIONS DAPP DISCUSSIONS NEWS DAPP NEWS SCAMS WARNINGS TOKEN WARNINGS SECURITY RELEASE DAPP RELEASE EXCHANGES ADOPTION DAPP ADOPTION SENTIMENT STRATEGY METRICS MINING EDUCATIONAL MEDIA LEGACY DAPP ERC20 TOKEN AUGUR ALTETH ALTCOINS COMEDY SUPPORT TOOL You can correct inaccurate link-flair assignments by typing "[AutoMod]" along with the flair name in a top-level comment, e.g. [AutoMod] DAPP-NEWS. All flair names are capitalized, e.g. use [AutoMod] EXCHANGE instead of [AutoMod] Exchange. Two word flairs require a hyphen in between them. Requires 100 comment karma and 1-month account age. If this feature doesn't work, please message the modmail . Continue reading >>

Ethereum Classic Fund Goes Live, Ethereum Etf Launch Edges Closer

Ethereum Classic Fund Goes Live, Ethereum Etf Launch Edges Closer

Ethereum Classic Fund Goes Live, Ethereum ETF Launch Edges Closer Grayscale Investments has officially made the ETC Investment Trust available to investors, publishers of Coindesk among them. Grayscale Investments has officially made the long awaited Ethereum Classic Investment Trust available to investors on the market. The firm announced on Wednesday that the fund is live for accredited investors. The fund is not the first offer from the firm. Barry Silbert introduced a similar fund for Bitcoin tracked shares as early as in 2013. The fees differ though. While the Bitcoin Trust has an annual fee of two percent, the new Ethereum Trust is at three percent this includes a one percent development contribution that Silbert announced. This will go to development and marketing of the currency for the first three years. 1/ ANNOUNCEMENT: 1/3 of @EthereumTrust mgmt fee will be donated to Ethereum Classic development, marketing & community activities for 3 yrs Grayscale (@GrayscaleInvest) March 31, 2017 The initial capital comes from Silbert himself, Digital Currency Group and Glenn Hutchins who is the co-founder of private investment company Silver Lake . When the fund was initially announced, some within the community raised questions about a possible conflict of interest, or rather the influence of the fund via Digital Currency Group. DCG has business interests in news provider CoinDesk. The trust was announced to the public in early 2016 and immediately caused waves in the ETC market, which was depressed since the fork of Ethereum/Ethereum Classic. The anticipation of the fund going live has already caused a surge of over 200 percent over eight weeks for the $419.1 mln market capital of ETC. Were excited about the Ethereum Classic, as opposed to Ethereum because ETC has a fi Continue reading >>

Forget Bitcoin, Buy Ether

Forget Bitcoin, Buy Ether

Value, contrarian, portfolio strategy, cryptocurrencies Bitcoin is making headlines again, since it just smashed through its $5000 barrier onto $6000. Ill tell you why Bitcoin jumped, and why it's temporary. You should be looking at Ether instead of Bitcoin right now. I walk you through what the Ethereum network is, and why its a better idea than Bitcoin in the long term. Bitcoin (BTC) just smashed through $5000 , is approaching $6000, and is making headlines again. Also, this time Jamie Dimon is refusing to talk about it . You should ignore this price jump, and buy Ether (ETH) instead. In a previous series of articles I explained how to value Bitcoin (Part I), and what it's value is (Part II). Unless we get either (1) a speculative bubble, or (2) a major leap in Bitcoin's technology, I don't think that BTC warrants higher than a 30% price increase over the next 12 months from, and likely not even that much. Ether, by contrast, is set for another 100% gain. I'm going to explain why, beginning with what the Ethereum network is. The Ethereum network flips Bitcoin technology on its head, and that's why it's so much better. To be clear, Bitcoin is a digital currency that works by a blockchain technology. That technology just keeps track of who owns what, i.e., of the global leger of Bitcoin transactions. So the technology powers the coin. The Ethereum network inverts that idea: the coin powers the technology. The blockchain technology is the Ethereum network, which runs a system of global "smart" contracts (i.e., they are like legal contracts, but are enforced automatically by a computer program). Ether is the coin that powers the Ethereum network; it's the "gas," so to speak. Each time the program runs, it requires "gas" to complete a transaction. The more people on the n Continue reading >>

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