ETPS are deemed to be the key to broadening access, improving liquidity, and answering the rising investor interest in cryptocurrencies, and countries around the world have already embraced this technology. In fact, a survey by Fidelity now reveals that a majority of institutional investors want a share of cryptocurrencies.
Europe has paved the way for Bitcoin Exchange Traded Products, with Switzerland being the first country to list it on their SIX Swiss Exchange. Germany has also followed suit, adding its first cryptocurrency investment to their Deutsche Börse’s Xetra exchange. However, several attempts to list Bitcoin ETPS in the US have been unsuccessful, with the government agencies, DEA, IRS and the Pentagon, differing in their view of this technology.
Saudi Arabia has also taken the world by storm after it has utilized blockchain technology in its trade finance to improve its liquidity throughout its banking system.
IRS, DEA in talks to buy Coinbase analytics Software [5 June 2020]
In May, it was confirmed that the IRS was looking for help to confirm whether Taxpayers had paid the appropriate tax on their crypto holdings. In light of this, public records now indicate that two major agencies plan to add the “Enhanced law enforcement sensitive capabilities” from Coinbase, to help in their global investigations. Coinbase responded that its Analytics software contained only public and not private user data.
Pentagon war game rewarded GenZ with BTC to take down Wall Street [5 June 2020]
In more surprising news, new information has surfaced, revealing that the Pentagon, the heart of US military, planned and conducted war games in 2018 to bring down major financial institutions, and used Bitcoin as the mode of payment for the Gen Z protestors.
Saudi Central Bank uses blockchain to pump $13bn into local banks [9 June 2020]
Middle Eastern giant, Saudi Arabia, has made headlines today, after the Saudi Arabia Monetary Authority utilized blockchain technology to distribute $13 bn to local banks countrywide.
36% of institutional investors hold bitcoin while 80% want it [9 June 2020]
A survey conducted by Fidelity, one of the world's largest asset managers, shows that more than a third (36%) of institutional investors hold crypto assets, with Bitcoin bearing the lions share. It also indicated that nearly eight of ten (80%) of these investors want a share of these cryptocurrencies.
Bitcoin ETP lists on German stock exchange [10 June 2020]
For more exciting news, After the revolutionary parliament regulation in 2019 that defined crypto assets, Germany’s Deutsche Börse’s Xetra electronic exchange has registered its first cryptocurrency investment, BTCE, from London's ETC group. The group listed 100% physically backed ETP, which will give every unit holder an entitlement to a specific amount of Bitcoin. ETC Group CEO Bradley Duke said, “BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of Bitcoin.” He furthers add, “We are transporting Bitcoin into the fold of mainstream, regulated financial markets. Investors get the benefit of trading and owning Bitcoin through regulated security.”
Source: Read more here.
Europe has paved the way for Bitcoin Exchange Traded Products, with Switzerland being the first country to list it on their SIX Swiss Exchange. Germany has also followed suit, adding its first cryptocurrency investment to their Deutsche Börse’s Xetra exchange. However, several attempts to list Bitcoin ETPS in the US have been unsuccessful, with the government agencies, DEA, IRS and the Pentagon, differing in their view of this technology.
Saudi Arabia has also taken the world by storm after it has utilized blockchain technology in its trade finance to improve its liquidity throughout its banking system.
IRS, DEA in talks to buy Coinbase analytics Software [5 June 2020]
In May, it was confirmed that the IRS was looking for help to confirm whether Taxpayers had paid the appropriate tax on their crypto holdings. In light of this, public records now indicate that two major agencies plan to add the “Enhanced law enforcement sensitive capabilities” from Coinbase, to help in their global investigations. Coinbase responded that its Analytics software contained only public and not private user data.
Pentagon war game rewarded GenZ with BTC to take down Wall Street [5 June 2020]
In more surprising news, new information has surfaced, revealing that the Pentagon, the heart of US military, planned and conducted war games in 2018 to bring down major financial institutions, and used Bitcoin as the mode of payment for the Gen Z protestors.
Saudi Central Bank uses blockchain to pump $13bn into local banks [9 June 2020]
Middle Eastern giant, Saudi Arabia, has made headlines today, after the Saudi Arabia Monetary Authority utilized blockchain technology to distribute $13 bn to local banks countrywide.
36% of institutional investors hold bitcoin while 80% want it [9 June 2020]
A survey conducted by Fidelity, one of the world's largest asset managers, shows that more than a third (36%) of institutional investors hold crypto assets, with Bitcoin bearing the lions share. It also indicated that nearly eight of ten (80%) of these investors want a share of these cryptocurrencies.
Bitcoin ETP lists on German stock exchange [10 June 2020]
For more exciting news, After the revolutionary parliament regulation in 2019 that defined crypto assets, Germany’s Deutsche Börse’s Xetra electronic exchange has registered its first cryptocurrency investment, BTCE, from London's ETC group. The group listed 100% physically backed ETP, which will give every unit holder an entitlement to a specific amount of Bitcoin. ETC Group CEO Bradley Duke said, “BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of Bitcoin.” He furthers add, “We are transporting Bitcoin into the fold of mainstream, regulated financial markets. Investors get the benefit of trading and owning Bitcoin through regulated security.”
Source: Read more here.
