📌 Will SEC reconsider the rejection of Bitcoin ETFs?
The Commission announced its intention to review the Bitcoin ETFs applications: details
Yesterday, Proshares, GraniteShares and Direxion received rejections as an answer to the Bitcoin ETFs applications: two of them were proposed by ProShares and NYSE Arca (is owned by Intercontinental Exchange). It seems that the Commission is completely adamant about Bitcoin exchange-traded funds, not taking the opportunity to see cryptocurrency and its derivatives outside the microscopic market that we have at the moment. But, it seems, that the case can be reconsidered.
Brent Fields, who was appointed as Securities and Exchange Commission’s Secretary, wrote a letter to David De Gregorio (NYSE Group senior counsel ), noting that «Commission will review the delegated action». The almost closed case received a new breath and immediately interested public. Of course, first of all, the process of reconsidering of BTC ETF application concerns a major player like NYSE in the first place. A similar letter was also received by representatives of the Cboe Global Markets.
There are two main types of bitcoin-ETFs - one operates with physical assets, and other with synthetic (derivatives). Physical assets can probably be offered, for example, by VanEck/SolidXs BTC ETF. Synthetic ETFs, which are not really backed by BTC coins, proposed by Direxion and Proshares. Today we see the future of cryptocurrency as the weak shadow, so, the adoption of ETF can roll the market forward. However, a number of experts believe that it is not worthwhile to rely on market pump even with the adoption of adaptive crypto/economic institutions (ETFs, ETNs etc.).
Read more: “Don’t hold your breath for a U.S. exchange-traded fund that invests in Bitcoin” by Bloomberg.
📌 The new head of Japanese FSA is against excessive regulation of the cryptocurrencies
Toshihide Endo can be the one more regulator who won't deal with crypto in the negative way
Nobuchika Mori is Commissioner of Financial Services Agency (Japan) leaves his post. The next responsible person of country's FSA is Toshihide Endo, whose full opinion of the cryptocurrencies was not yet fully known. One of the first statements that concerns virtual currencies was made by him just recently.
Toshihide says:
“We have no intention to curb [the cryptocurrency sector] excessively. We would like to see it grow under appropriate regulation.”
Don't you know? One of the FSA study reveals 3.5 million crypto-traders in Japan. Now this country, despites of the strict regulation overall, is one of the most potential markets for e-commerce, Bitcoin and other digital solutions. The latest rumors also suggest that Japan may stop using cash, replacing it completely with electronic payments.
💰Market Cap: $212 835 619 429
💵24h Vol: $11 077 402 921
📊 Prices TOP 24.08.2018
↗️↘️Bitcoin: $6 599
↗️↘️ETH: $277
↗️↘️XRP: $0,321202
↗️↘️BCH: $529
↗️↘️EOS: $4,92
↗️↘️XLM: $0,214531
↗️↘️LTC: $57,71
↗️↘️USDT: $1,00
↗️↘️ADA: $0,092754
↗️↘️MONERO: $92,29
📌 19,999.89936988 ETH have been moved to the Bitfinex address
A large amount of ETH ($5M in total) were transferred to one of the leading exchanges
A large transaction with the total cost of $5 451 172 in Ethereum tokens has been moved to the Bitfinex_4 address (exchange). Well, tokens are made to exchange/transfer them, right? However, attentive users, already well-trained by the current market overall, watch the hash more closely.
More news about Ethereum:
XRP (Ripple) representatives: “more decentralized than both Bitcoin and Ethereum”. Are such statements being closer to the truth? Until now, there is no consensus on the potential of XRP transactions, but it still attracts a wide team of believers.
Tetras Capital thinks that (according to studies) that ICO market is potentially a big risk for Ethereum system and capitalization. Following the general discussion, Jihan Wu defines ICOs as ‘Unsustainable Financial Bubble’.
📌 Breaking: Bank of America creates the cryptocurrency storage system
Bank of America creates the cryptocurrency online storage system
The famous Bank of America is filing a patent for a system that manages the cryptocurrency storage in a corporate environment. What does it mean: another solution for researching advanced technology, or it will be the next step of creating a new infrastructure for circulation of crypto in the country?
According to the text of this patent, there comes a wide adoption of cryptocurrencies, involving a large number of people. However, customers will prefer traditional bank vaults that use storage technology, instead of wallets. Users refuse their own keys in return for banks: is there really such a future? It seems that the company looks far ahead, but with a significant benefit for itself.
💱 Exchanges: 24h volume
Binance $969.54M -> 16.80%
Huobi 729.52M → 12.55%
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