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Shanghai Crypto Trading Fund Set To Launch in 2019

Point95 Global may soon launch a new cryptocurrency trading fund. Located in Shanghai, the digital asset management firm is working with an unnamed licensed asset manager in Hong Kong. The… Continue reading “Shanghai Crypto Trading Fund Set To Launch in 2019”

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Regulated German Crypto Exchange Seeks To Become Bank in 2019

Bitcoin Group SE, operating the crypto exchange Bitcoin.de, will become a bank in 2019. After securing a 100% takeover of Tremmel Wertpapierhandelsbank the company will offer different services connected with… Continue reading “Regulated German Crypto Exchange Seeks To Become Bank in 2019”

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ICOs Raised $21.9 Billion Dollars Globally Says French Regulator

The Autorité des marchés financiers (AMF), France’s financial markets regulator, has released information about funds raised by Initial Coin Offerings (ICOs). According to the report published a few days ago,… Continue reading “ICOs Raised $21.9 Billion Dollars Globally Says French Regulator”

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HODL: World’s First Crypto ETF Goes Live Next Week in Switzerland

The crypto community will finally welcome the first Exchange Traded Product (ETP) to be listed on a traditional stock exchange early next week, and it is happening in Switzerland.

The landmark derivative was designed by a crypto startup, Amun AG, and will start trading on Six Swiss Exchange, Europe’s Fourth largest Stock Exchange with a market cap of over $1.6 trillion.

Speaking in a report about the new product which was recently approved by Swiss regulators, Amun CEO, Hany Rashwan expressed confidence that the new ETF will open the door to mainstream crypto involvement.

He said that the product would be a good fit for institutional investors who shy away from crypto because of its volatile nature and lack of regulation. Also, retail investors who up to this point have not traded cryptocurrencies because of “local regulatory impediments.”

Inside the Crypto Exchange Traded Fund offered by Amun

The new offering by the startup is scheduled to trade under the ticker “HODL” and will track the largest cryptocurrencies by a market cap which include Bitcoin (BTC), Ethereum (ETH), Ripple XRP, BCH (ABC), and Litecoin (LTC).

The ETF is designed to automatically allocate client investments into the best performing cryptocurrencies in other to guarantee profitability over the period that they buy in.

HODL ETF’s components. Source: ft.com

At the time of writing this report, the fund consists of nearly 50% of Bitcoin and 30% of XRP, which is arguably the best performing crypto this year. There are smaller chunks of 20%+ split among the other altcoins.

CEO Hang Rashwan believes that starting with an index basket that allows traders get exposed to various cryptos is the right way to start and also hope that more trackers will be added for each crypto in the future.

Not in the United States

While some members of the industry have kept a close eye on when the U.S SEC will approve a Bitcoin ETF, it is unsurprising that such a derivative product has been rolled out in a country with regulatory clarity around cryptos.

As mentioned in the report, Switzerland was chosen as the right destination for Amun’s index fund after the startup considered over “23 countries.”

There is even a little chance that the U.S was in that number because of the regulatory uncertainty which the SEC has created around the new asset class.

So while we continue to look forward to the time when a crypto ETF goes live on a U.S stock exchange, we’ll take some time to savor the latest victory in Switzerland.

The post HODL: World’s First Crypto ETF Goes Live Next Week in Switzerland appeared first on CryptoPotato.

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Discover how the cream of Europe’s blockchain investors are forging the future in London this month.

Fancy seeing how the top brass in blockchain are laying the foundations for a mind-boggling future we’ll all reap the benefits from? If you can get yourself to London on November 21st, you’ll see it all up close and personal. Event hosting masters Webrazzi are laying down the gauntlet for the rest of the crypto … Continue reading Discover how the cream of Europe’s blockchain investors are forging the future in London this month.

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