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ETF based on blockchain companies

American companies AdvisorShares and Sabertooth Advisors have created an exchange-traded investment fund (ETF) based on high-tech companies that work with blockchain technology and cloud computing. According to MarketWatch, the launch of the AdvisorShares Sabertooth ETF (BKCH ticker) took place on February 7. According to a registration statement issued by the United States Securities and Exchange Commission (SEC), a new fund can invest in stocks, […]

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American companies AdvisorShares and Sabertooth Advisors have created an exchange-traded investment fund (ETF) based on high-tech companies that work with blockchain technology and cloud computing. According to MarketWatch , the launch of the AdvisorShares Sabertooth ETF (BKCH ticker) took place on February 7.

According to a registration statement issued by the United States Securities and Exchange Commission (SEC), a new fund may invest in stocks, US depositary receipts and other stock exchange products of companies. At the same time, cryptocurrency investments are prohibited.

“The prospects of the blockchain and cloud computing, as well as their direct impact on the financial and technological sectors, suggest a long-term investment effectiveness in this industry,” representatives of investment companies said.

According to NASDAQ, today trading ETF shares under the BKCH ticker closed at $ 25.


Recall that in early February, the Chicago Options Exchange filed a repeated request to launch Bitcoin-ETF on behalf of VanEck and SolidX. The founders of the Gemini exchange, the Winklevoss brothers, are also waiting for a positive decision of the SEC to launch Bitcoin-ETF, especially after the site audit conducted by Deloitte .

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Wells Fargo Banking Holding creates stablecoin pegged to US dollar

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U.S. financial giant Wells Fargo is working on a cryptocurrency pegged to the dollar. The company announced this in its press release .

According to the company, the future stablecoin will be used as part of its own blockchain platform. Its main focus will be cross-border payments between the company and its partners around the world. Moreover, other companies outside the US will be able to use cryptocurrency to complete transactions between themselves.

The decision to issue cryptocurrency in the company is explained by the need to reduce the cost of payments between different countries, as well as the acceleration of this process. The current mechanisms cannot be called bad, but they are already outdated: high commissions, terms of several days per transaction – all this cryptocurrency can leave in the past.

Wells Fargo assures that their stablecoin will provide almost instant payments, and the process of their implementation will become much simpler. Next year, the company will begin a pilot project during which the cryptocurrency will be tested in test mode. Initially, only dollars will be available for transfers, but in the future it is planned to add support for many other currencies.

Wells Fargo is not the first bank that intends to launch its cryptocurrency, but it is not only one of the largest banks in the world and in the USA, but also one of the most expensive companies in the world. The arrival of such a player will show other companies that without their own digital currencies and blockchain ecosystems, they will have nothing to do in this market.

Publication date 09/19/2019
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North Korea plans to launch its own cryptocurrency

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North Korea is creating a cryptocurrency with which the country will be able to avoid international sanctions.

It is assumed that the cryptocurrency development project is at an early stage. Its goal is the same as that of the Venezuelan project – last year the topic of developing the state’s national digital currency, Petro, was actively discussed. A cryptocurrency that does not yet have a name will be similar to the technology used by BTC or altoins. Currently, the team that is working on the project is studying products that could be tied to cryptocurrency. It is known that the payment instrument will not be exactly supported by the national currency of North Korea.

Experts believe that North Korea has enough opportunities and developments to present a good cryptocurrency. So, we can assume that the state will be able to improve its position in this way.

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The head of the SEC said when Bitcoin will appear on large traditional exchanges

Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC. “If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure […]

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Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC .

“If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure that trade is regulated correctly , ”he stressed.

We are talking about listing conditions for bitcoin itself, and not derivatives, such as CME futures.

Recall, Clayton said earlier that some progress on Bitcoin ETFs has been achieved. VanEck and SolidX have withdrawn their application.

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Name Price24H (%)
Bitcoin (BTC)
$10,210.39
0.46%
Ethereum (ETH)
$219.89
4.08%
XRP (XRP)
$0.301531
-4.19%
Bitcoin Cash (BCH)
$319.42
-2.10%
EOS (EOS)
$3.95
-3.62%
Stellar (XLM)
$0.080537
-1.57%
Litecoin (LTC)
$75.99
-3.20%
Cardano (ADA)
$0.052524
-1.81%
Tether (USDT)
$1.00
0.23%
Monero (XMR)
$75.49
-6.95%
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