Čvc 18

Blockchain Trade Finance Platform Set to Launch In Hong Kong

A blockchain-backed trade finance platform is getting ready to be launched by the Hong Kong Monetary Authority and partners. The system currently stands as one of the largest examples of a government-backed effort to tackle issues in the worldwide trade finance industry.


Those who work in the trade finance sector often sift through lots of paperwork to verify transactions and ensure credentials are valid. Now, a new blockchain-based platform is being launched in the coming months to help reform the industry by digitizing documents and automating processes so the banking industry can be protected against fraud and risk.

The project is a joint effort by the Hong Kong Monetary Authority (HKMA) and a collection of banks, including HSBC, Bank of East Asia Ltd, and Standard Chartered.

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‘Unlock the trading potential of many thousands’

A growing number of banks, governments, and technology firms have turned their eyes to blockchain when it comes to trade finance — one of the main reasons being that people are still looking for a way to unlock liquidity in the supply chain. A study from Ernst & Young said 2,000 leading companies in Europe and the United States have about $1.3 trillion dollars tied up unnecessarily.

The World Trade Organization said in a report how unmet demand for trade finance totals $700 billion dollars across developing Asia and $120 billion in Africa. The agency says bridging these types of gaps would “unlock the trading potential of many thousands of individuals and small businesses around the world.”

The reasons for the lack of liquidity are multifaceted, but some of the biggest barriers have been identified as high transaction costs, physical paper trails that slow down processes, and general complexity when it comes to accounting.

Government Backing

The blockchain is being heralded as a solution to many of the aforementioned issues — primarily because it could be used to eliminate physical paperwork, vastly cut down on transaction times, and make it easier to catch fraud, since parties can view logged trades in the blockchain.

Banking giant HSBC said in May how it was able to execute the globe’s first commercially viable blockchain trade finance transaction on the Corda platform, which was developed by the R3 blockchain consortium. Entities like Deutsche Bank and Rabobank have also teamed up to launch a trade finance platform.

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However, the project in Hong Kong is one of the first to go live with government backing. The system was designed by Ping An Group and will be owned by the banks — who are teaming up with the financial regulator.

One key feature of the platform is the ability to cheaply extract company data so potential customers can be reviewed — which is said to make it easier for small businesses to have access to trade and supply-chain finance.

Officials involved with the project also have plans for the future. HKMA deputy chief executive Howard Lee said the next step of the project “is to link up with other trade platforms in other jurisdictions to further facilitate cross-border trades.”

What are your thoughts on the new blockchain trade finance platform? Let us know in the comments below! 


Images courtesy of Shutterstock, Wikipedia Commons.

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Čvc 17

Mueller’s Indictment Could Increase Regulatory Bitcoin Oversight

Bitcoin may face increased regulatory scrutiny following recent events. Special counsel Robert Mueller indicted 12 Russian officials of using cryptocurrency and large-scale hacking to interfere with the 2016 U.S. presidential elections.


The U.S. Department of Justice (DOJ) indicted 12 officials from the Main Intelligence Directorate of the General Staff (GRU), Russia’s intelligence agency, who have reportedly used bitcoin to interfere in the 2016 U.S. presidential election.

Bitcoin Under the Radar

Mueller’s indictment places the emphasis on the usage of Bitcoin as means for money-laundering and other illicit activities:

The use of bitcoin allowed the Conspirators to avoid direct relationships with traditional financial institutions, allowing them to evade greater scrutiny of their identities and sources of funds.

The usage of Bitcoin as well as cryptocurrencies, in general, as a means for illicit activities could enhance the scrutiny that they face.

What’s more, President Trump signed an executive order July 11, setting up a task force within the DOJ, ordered “to investigate and prosecute crimes of fraud committed against the U.S. Government or the American people, recover the proceeds of such crimes, and ensure just and effective punishment of those who perpetrate crimes of fraud” associated with digital currencies.

Is It Called For?

Bitcoin has been tied to illegal activities in the past, but previous reports show that it’s far from being as dangerous as some try to make it look.

International institutions have released several studies, displaying that cryptocurrencies, in general, do not pose significant risks when it comes to their usage for illicit activities.

A recent report of the Financial Services and Treasury on Money Laundering and Terrorist Financing Risk Assessment showed that cryptocurrencies are avoided by organized crime. Similar conclusions were reached in a report issued by the UK’s National Crime Agency, and by the Quebec Government.

Coincheck NEM laundered

Unsurprisingly, many Bitcoin advocates are skeptical of the calls for increased regulation. Jerry Brito, executive director of the virtual currency policy nonprofit Coin Center, said:

Bitcoin faces the same challenges of perception that the early internet did. […] Good guys can use it and bad guys can use it.

They Used Bitcoin and Got Caught

Mueller’s indictment itself outlines the transparency introduced by Bitcoin’s public and transparent ledger. While Bitcoin itself is pseudonymous, which is akin to having a screen name on the Internet, every transaction can be easily tracked on its immutable blockchain. This allowed investigators to identify some of the digital transactions conducted by the indicted officials.

It is doubtful whether the given individuals would have been identified had the same transactions been carried out using cash dollars.

While it’s true that proper regulation is capable of further accelerating Bitcoin’s widespread adoption, it’s important to be particularly careful, especially when it comes to its actual usage for illicit activities.

Do you think Bitcoin is widely used for illegal activities? Don’t hesitate to let us know in the comments below!


Images courtesy of the Bitcoinist Archives, Shutterstock

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Čvc 16

Germany’s Lufthansa Airline to Award Hackers at Unibright Hackathon

One of Europe’s largest airlines, Lufthansa AG will reward blockchain developers participating in an event partnership with Unibright, the “Hackathon without a single line of code” at the Pillar Unconference 2018.


The second #PillarUnconference, also known as the “Woodstock of Crypto,” begins July 15th, 2018, in Vilnius, Lithuania, and is set to attract a wide mix of the cryptocurrency and blockchain community including entrepreneurs and developers. The conference includes workshops, a “devcon” track for blockchain and smart contract developers, and a number of hackathons.

No Coding Needed

Lufthansa, by far the biggest non-crypto brand represented at the conference, has partnered with enterprise blockchain company Unibright to offer awards to the best developers, and indeed non-developers, competing in the “Hackathon without a single line of code.”

Unibright provides template-based, smart contract enabled, blockchain technologies for businesses. Hackathon participants will use Unibright’s “no-coding-needed” templates to work on visual definitions for real life uses case scenarios provided by Lufthansa. The case scenarios participants will need to create blockchain-based solutions for include asset life cycles of planes and equipment, the airline’s and its partner’s loyalty program, voucher management and even seat and flight booking management systems.

Stefan Schmidt, CTO of Unibright, says that blockchain is at an early stage of “mass adoption,” and that:

By adding real use cases from real enterprises we can really show how blockchain can make a change.

Hackathon without a single line of code

Lufthansa Prefer to Make Real Use of Blockchain

In a clear confirmation that Lufthansa is investigating blockchain-based technology for the airline’s future, Lufthansa will reward the best participants with flights from Vilnius, Lithuania to a follow-up blockchain use-case workshop in Frankfurt. The follow-up workshop will involve winning participants, Lufthansa, Unibright, and technology solution provider Zühlke, and be held later in 2018.

Dr. Jörg Liebe, Senior Director Digital Innovations Hub Airlines and Airline Products at Lufthansa, says that blockchain is often a “buzzword” and that Lufthansa “prefers to make real use of it.” He states:

To really benefit from blockchain technology you need use cases where a distributed ledger brings a noteable improvement to existing processes.

Lufthansa, combined with its subsidiaries, was the largest airline in Europe by fleet size and passengers in 2017. Unibright’s Medium announcement confirms Lufthansa is considering blockchain use cases within the corporation.

British Airways first used blockchain technology last year to manage flight data on a number of international flights in a bid to reduce conflicting flight information.

Should more international companies be looking to get in on events like this to develop blockchain strategies and attract key talent?


Images courtesy of Lufthansa AG, Shutterstock

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Čvc 15

Lack of Bitcoin-Based ETFs Challenges Cryptocurrency Investment Markets

With the decision on whether a cryptocurrency-based exchange traded fund (ETF) will ever launch in the U.S still sitting firmly with the Securities and Exchange Commission (SEC), experts continue to speculate on the market and its potential. 


Managed investment funds based on cryptocurrencies may offer a less risky investment route for concerned investors, or a more familiar route for traditional, institutional investors.

Though CBOE and CME Group launched bitcoin-based futures in December 2017, and the SEC has approved seven blockchain-based ETFs so far in 2018, the bitcoin or cryptocurrency-based ETF is still the holy grail of the market. Some believe an outstanding bitcoin-based ETF application could be approved as soon as next month.

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Difficult to Value

A bitcoin-based ETF would be a major coup for the cryptocurrency space. The SEC is hesitant, however, citing concerns of price volatility and the difficulty in actually setting a market price to base fund payouts upon.

Matthew Hougan, global head of research at Bitwise Asset Management, claims that judging what the right prices are for cryptocurrencies — aside from fund premiums — is difficult, noting:

The crypto ecosystem hasn’t evolved an agreed-upon framework to value crypto.

Hougan believes that cryptocurrencies could become widespread alternatives to money, like gold, putting a floor under prices. “It’s entirely feasible that a new store of value could emerge in the world,” said Hougan, “I don’t think that concept began and ended with gold.”

Hard to Gain Exposure

One existing fund is performing well. The Bitcoin Investment Trust has seen an average trading price 56 percent above the portfolio’s asset value according to Morningstar, but it has little in the way of competition. Its performance could see a sharp decline if bitcoin-based ETFs bring choice to the market.

“The challenge with cryptocurrency-oriented investing is it’s hard to gain exposure, as there are no U.S listed ETF.s,” said Todd Rosenbluth, director of ETF and mutual fund research at CFRA Investment Research. “When the supply to gain exposure to Bitcoin grows via ETF choices and better meets demand, the premium will narrow.”

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Blockchain Versus Bitcoin

Other experts think that investors are better placed to look towards blockchain technology-based investments. Joe Davis, head of Vanguard’s Investment Strategy Group, is one — stating that he was “enthusiastic” about blockchain but, for bitcoin, there is a “decent probability that its price goes to zero.”

Hougan recommends caution but believes Bitcoin has potential, predicting that adding bitcoin to a 60 percent stock and 40 percent bond portfolio could improve its performance.

Bitcoin-based ETFs could be one of a number of market signals institutional investors are waiting for to truly enter the cryptocurrency market and fuel its next boom. 

Do you think the launch of Bitcoin-based ETFs will make a difference to Bitcoin’s price? Are blockchain-based ETFs better? Let us know your thoughts in the comments below! 


Images courtesy of Shutterstock, Bitcoinist archives.

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Čvc 14

New Power Rates for Cryptocurrency Miners in Upstate New York

The New York Public Service Commission (PSC) has approved new electricity rates for cryptocurrency miners in Upstate New York.


Details of the New Rates

In a press release issued by the New York PSC, high-density power consumers like cryptocurrency miners under the Massena Electric Department will pay new utility rates. The new rules approved by the New York PSC aims to protect existing electricity customers while at the same time encouraging miners from setting up shop in the area.

As part of the new plan, cryptocurrency mining operators will be able to negotiate with municipal power authorities in the area. By so doing, utility companies can review the energy demands of miners individually to come up with suitable contracts for each cryptocurrency mining facility.

To qualify for this new rate, miners must exceed a demand of 300kW and a load density of 250 kWh per square foot per year. Also, they must provide proof of benefits attached to their consumption. The new directive is an economic development assistance package that virtual currency miners in the area can enjoy.

Commenting on the new rate plan, chairman of the New York PSC John B. Rhodes said:

As part of our continuing effort to balance the needs of existing customers with the need to attract new companies, we must ensure that business customers pay a fair price for the electricity that they consume. However, given the abundance of low-cost electricity in Upstate New York, there is an opportunity to serve the needs of existing customers and to encourage economic development in the region.

New York Public Services Commission

No Downside for Existing Customers

One significant upside to the new electricity pricing policy is that it does not affect the rates paid by existing customers. Cryptocurrency miners and other high-density power consumers in Upstate New York that do not meet up with criteria will be placed in another pricing category.

Thus, existing customers are shielded from being made to pay a premium on electricity in an area that has one of the lowest utility tariffs in the United States. The new plan comes into effect on July 17, 2018.

Since the beginning of the year, cryptocurrency miners have been trouping into areas in Upstate New York looking to take advantage of cheap power and favorable climatic conditions. However, municipal power authorities weren’t best pleased with the development fearing that their power resources could become stretched.

In March, the New York PSA authorized power authorities in the upstate area to introduce premium tariff rates for cryptocurrency miners. With this new pricing plan, however, miners can rest easy now that they know where they stand.

Should other states that play host to significant cryptocurrency mining activities adopt the decision by the New York PSC? Keep the conversation going in the comment section below.


Images courtesy of dps.ny.gov, iStockPhoto

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Čvc 13

Bitcoin Ownership Rising Throughout Canada

Canada has seen an increase in its bitcoin ownership rate from 2.9 percent in 2016 to 5.0 percent in 2017. Usage trends have also shifted, with most Canadians now holding bitcoin primarily for investment purposes. 


The Bank of Canada has released its findings from a two-year long study that was completed to better assess Canadians’ usage and adoption of Bitcoin. The study, which began in 2016, followed central bank chief Stephen S. Poloz’s cautionary advice:

Cryptocurrency’ is a misnomer—‘crypto,’ yes, but ‘currency,’ no.

The Bank’s survey attempts to better understand Bitcoin’s role as currency and was administered in three waves, lasting from early 2016 until mid-2017. It coincidentally aligned with bitcoin’s extreme rise in value, which saw the market leader reach an all-time high of 19,738USD on December 17, 2017. The published study stated that:

The Bank of Canada’s interest in bitcoin is to understand whether its adoption and usage by Canadians could affect the financial system

The survey not only tracked bitcoin usage and adoption but also tried to garner a general sense of the public’s knowledge of cryptocurrency.

Canadians Prove They Know More

The published study revealed that not only had the percentage of those owning bitcoin gone up but that the general knowledge on cryptocurrency for both owning and non-owning citizens had increased. Quebec saw the largest increase in awareness, with a 28 percent improvement in score from 2016 to 2017.

The ownership of bitcoin among men aged 45 to 54 quadrupled over the two-year long research project, with an equally significant rise among those with a college or university level education. In general, bitcoin ownership saw a boost in all provinces of Canada — with notable growth in Ontario and the Prairies.

The survey also highlighted that usage trends have changed. Bitcoin owners in 2016 stated they were more likely to use their holdings for transactional purposes than those polled in 2017, who saw their holdings as a financial investment.

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Onward Canada

In the publication’s introduction, the Bank explains that:

[…] It is important to understand Bitcoin’s potential impact on how the Bank of Canada undertakes its core functions such as the production and distribution of currency.

This illustrates Canada’s preparation and willingness to consider bitcoin as it plans its financial future.

Canada has shown an openness to cryptocurrencies, with the nation reporting in early 2018 that it would not reconfigure its tax law to target them. The crypto-startup CBlocks moved from Miami to Canada earlier this year favoring the country’s less stringent regulations.

What are your thoughts on Canada’s role in the crypto-space?  Leave us a comment below and let us know! 


Images courtesy of Shutterstock, Bitcoinist archives, AdobeStock.

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Čvc 09

IOTA Smart City Project Granted €20 Million in EU Funding

The +CityxChange consortium, which includes the IOTA Foundation, has won a bid to lead a new smart city lighthouse project under an EU research and innovation program. A total of €30 million euros worth of backing has been committed, the majority from the EU, for seven EU cities to experiment with smart positive energy innovations.


A total of 25 enterprises and organizations, including distributed ledger technology innovator IOTA, form the +CityxChange consortium. The group, which will be led by the Norwegian University of Science and Technology (NTNU) in the project, competed against 11 other proposals to become the lighthouse project for developing energy independent cities.

Blockchain Technology to Improve Quality of Life in European Cities

Over the next five years, the European cities of Trondheim, Limerick, Alba Iulia, Pisek, Sestao, Smolyan, and Voru will experiment with using digital services, including blockchain and peer-to-peer technology, to improve quality of life and generate more energy than they consume. Their experiences will be shared with cities across Europe to continue the wider development of the smart city ethos.

The funding of €20 million euros will be provided by the European Research and Innovation program Horizon 2020. Some of the project partners will add €10 million euros of “in-kind” efforts towards local implementation of demonstration projects in Trondheim and Limerick.

The +CityxChange project was commended by independent experts for showing that it will contribute to the wider roll-out of “Positive Energy Districts” across Europe.

The energy solutions proposed will include local governments and residents “involving the entire district energy value chain, extending to high-level policymakers and cities, universities, large enterprises, distributed network operators, SMEs, and not for profit organizations.”

Aligned with IOTA

Aligned with IOTA

Describing the project as “100% aligned” with the IOTA Foundation’s DNA and an ambitious open innovation, Wilfried Pimenta, Head of Business Development at the IOTA Foundation said:

Smart cities is one of the fastest growing cross-sectorial arenas of innovation for IOTA. Building on our work and partnerships across mobility, energy or data marketplace, these smart city ecosystems bring it all together.

The Norwegian co-founder of the IOTA Foundation David Sønstebø is excited about the project and to be working with Norway’s largest university NTNU:

Being able to explore and demonstrate the utility of IOTA within the smart city context in numerous cities across Europe will be incredibly valuable going forward.

The enterprises, universities, and not-for-profits involved include:

IES R&D, Powel AS, University of Limerick, Energy Agency of Plovdiv, Future Analytics Consulting, Research2Market Solutions, ISOCARP, TrønderEnergi Kraft AS, ABB Norway, ATB, AVIS Budget Group, Statkraft Varme AS, ESB Innovation RoI Ltd, ESB Networks, Ove Arup & Partners SAU, FourC AS, R.Kjeldsberg, Smart MPower, Space Engagers, Colaborativa, Officinae Verdi, NHP Eiendom, and GKinetic Energy Ltd.

+CityxChange aims to help the cities involved in the project achieve their goal of sustainability, with zero emissions, and 100% renewable energy by 2050.

Do you think fully sustainable city ecosystems are possible? Can blockchain and distributed ledger technology help to achieve this?


Images courtesy of AdobeStock

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Čvc 08

South Korea Moving Towards Cryptocurrency Acceptance

South Korea is continuing to legitimize and embrace cryptocurrency through a careful and considered approach.


‘The regulator isn’t opposed to cryptocurrencies’

On May 19, Bitcoinist reported that Korean regulators had agreed to apply the G20’s set of “unified regulations” in regards to cryptocurrencies. South Korea’s Financial Supervisory Service (FSS) stated at that time:

It’s almost certain that cryptocurrencies will be classified as assets and the main issue will be centered on how to regulate them properly under the unified frame that will be agreed upon between G-20 nations. Given the current stance, this isn’t good, but we will step up efforts to improve things.

Now, The Korea Times has reported that the country’s regulators are indeed set to ease regulations regarding cryptocurrencies — as the Financial Services Commission (FSC) has revised its guidelines for cryptocurrency exchange operators.

One official told the oldest English-language newspaper in South Korea:

The FSC made revisions to its rules to apply strengthened policies in order to prevent or detect money laundering and illegal activities because the regulator isn’t opposed to cryptocurrencies.

Another official stated:

Establishing unified rules is a complicated issue given the broader range of assessments between government agencies. This is why the country needs close international cooperation as it is still in the early stages of fine-tuning guidelines.

How Icon (ICX) and Others Skirt South Korean Restrictions

The government’s stance and actions thus far indicate an interest in encouraging blockchain technology and the growth of cryptocurrencies, but not at the expense of safety and security. Stated one trade ministry official:

Any major reversal in policies is unlikely, but the government seems to believe a gradual shift in attitude toward crypto-based assets is needed. What regulators should do is figure out how to regulate them properly and prudently as Korea needs to put more emphasis on blockchain technology after obtaining knowhow and understanding of the possible flipside of cryptocurrency trading.

‘Interest in cryptocurrencies will double’

The report comes shortly after South Korea moved to recognize cryptocurrency exchanges as legal entities in their own right for the first time, cementing their position in the local economy.

Seoul-based technology journalist Kim Byeong-yong also told The Korea Times that mainstream adoption is likely coming to South Korea in the future, explaining:

Global banks predict that interest in cryptocurrencies will double. We believe an increase in adoption will come when crypto-assets can be used as actual currencies rather than just speculative investments.

What do you think about South Korea’s regulatory stance regarding cryptocurrencies and blockchain technology? Do you think mainstream adoption is in the cards? Let us know in the comments below! 


Images courtesy of Shutterstock, Bitcoinist archives.

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Čvc 07

Israeli Crypto Exchange Bits of Gold Agrees to Share Customer Info with Tax Authority

Bits of Gold – local Israeli cryptocurrency exchange – has agreed to pass on information to the country’s Tax Authorities on deposits and trading activity.


Israel Tightens the Knot

In what seems to be a step towards tightening up the cryptocurrency trading environment in Israel, the local Tax Authorities have reached an agreement with a local digital exchange Bits of Gold. As reported by local tech-related media outlet Calcalist, the cryptocurrency exchange has agreed to pass on information concerning larger deposits.

Supposedly, the purpose behind the agreement is to prevent acts of tax evasion and money laundering. Apparently, the anonymized and encrypted nature of cryptocurrencies intimidates the regulatory bodies of the country.

Israel Tightens the Knot

Standard AML or a Targeted Approach?

It’s important to note that, as per the current Israeli anti-money laundering laws, all deposits which exceed NIS 50,000 (roughly around $15,000), should be reported to the Israel Money Laundering and Terrorism Financing Prohibition Authority (IMPA). Holders of such accounts are requested to verify the legitimacy of these proceeds, which seems like a regular practice, accepted in a broad range of countries.

The new agreement, however, requires Bits of Gold, which harbors more than 50,000 registered users, to pass on such information to the authorities. The cryptocurrency exchange has to report on transactions which have exceeded $50,000 throughout the last 12 months.

It is worth noting that the country’s Tax Authorities conducted an audit of the same cryptocurrency exchange, according to the local media. A person familiar with the matter has supposedly revealed that the audit was not, in fact, targeting the company itself, but rather, it went after information on large-scale clients.

In January last year, Israel’s Tax Authority issued tax guidelines which deemed cryptocurrencies such as Bitcoin as assets. As such, profits from trading them is subjected to 25% tax while cryptocurrency exchanges are also required to pay 17% VAT.

Do you think Israel’s move is justified? Don’t hesitate to let us know in the comments below.


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Čvc 06

European ETF Trading Behemoth Begins Trading Bitcoin and Ethereum ETN

Flow Traders NV, Europe’s largest exchange-traded funds (ETF) trader has begun buying and selling Bitcoin and Ethereum exchange-traded notes (ETN). The company becomes the first to reveal its participation in any cryptocurrency ETN. The big question now is, when will a Bitcoin ETF become a reality?


Buying and Selling Bitcoin and Ethereum ETNs

An ETN isn’t all that different from an ETF. The principal difference between the two is that ETFs are investments in funds that track the price movement of an asset whereas ETNs are more like investing in bonds.

Flow Traders is trading in the Bitcoin and Ethereum ETNs launched by XBT Provider in 2015 and 2017, respectively. XBT is listed in Sweden with an asset management portfolio north of $1 billion.

This news of a cryptocurrency ETN listed on a regulated exchange is perhaps the most significant virtual currency news since the emergence of Bitcoin futures trading in December 2017. For one thing, it is yet another investment vehicle that is right up the alley of institutional investors.

Many analysts and commentators have identified the entry of institutional money into the cryptocurrency space as the next milestone in the growth of the industry. Investment products like futures, ETNs, and ETFs provide a much more viable option for these investors than the usual cryptocurrency trading market.

Commenting on the development, Dennis Dijkstra, the co-CEO of Flow Traders NV said:

People underestimate crypto. […] It’s big, and it is to be regulated very soon. The market participants are much more professional than people think. Institutional investors are interested – we know they are because we get requests.

Image result for Dennis Dijkstra

How the ETN Works

As a high-frequency trader (HFT), the company plans to hedge each trade as quickly as possible regardless of the direction of the Bitcoin and Ethereum price movements. To do this, Flow Traders is hedging its ETN with CME and CBOE futures contracts. All of these, in theory, should lower slippage while increasing liquidity.

According to Dijkstra, the approach holds immense benefits for the company. He did not provide any details concerning whether the Flow Traders will utilize Bitcoin or Ethereum to hedge each trade, however.

The Quest for Bitcoin ETF

With an ETN already a reality, perhaps a Bitcoin ETF might be a possibility in the not so distant future. So far, the United States SEC has remained unwilling to approve any of the Bitcoin ETF proposals it has received.

The narrative was that the emergence of futures trading would herald the dawn of Bitcoin. However, half a year has come and gone since then and still no favorable decision from the SEC has been forthcoming. In June 2018, two prominent firms; VanEck and SolidX decided to collaborate with the hope of standing a better chance to obtain the much sought-after SEC approval for cryptocurrency ETF.

Will the trading of Bitcoin and Ethereum ETNs help pave the way for a Bitcoin ETF? Let us know what you think in the comments below.


Images courtesy of Flow Traders, Shutterstock

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