Day: October 20, 2021

Malta financial watchdog approves Iconic’s crypto index fund for stock market listing

The Malta Financial Services Authority has greenlit the crypto asset index fund from asset manager Iconic Funds for listing on the Malta Stock Exchange. In an Oct. 20 announcement, Iconic Funds said it expected to list its BITA20 XA Crypto Asset Index Fund on the exchange “in the coming days,” with the fund offering direct exposure to cryptocurrencies. The fund invests most of its capital in the top 20 cryptocurrencies in addition to depositing tokens into certain staking and interest-bearing accounts. According to Iconic, only qualifying individuals will be eligible…

Why Bitcoin Is Worth at Least a Penny

Bitcoin has a capped supply and a predictable schedule of issuance: 6.25 BTC are mined every 10 minutes, and that amount is cut in half every four years or so, and will continue to be halved until the supply reaches a hair under 21 million units, sometime in 2140, when we’re all dead (except maybe Peter Thiel, God bless him). After that, no more bitcoin will ever be created, unless the algorithm in the software is changed by a consensus of the network, which is theoretically possible but exceedingly unlikely…

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After Bitcoin All-Time High, What’s Next?

Just this month alone, the bitcoin price has rallied more than 50%, fueled by U.S. regulators’ first approvals of exchange-traded funds (ETFs) linked to bitcoin futures contract. The ProShares Bitcoin Strategy ETF launched Tuesday on the New York Stock Exchange and hauled in some $570 million of assets on its first day, while garnering an astounding $1 billion in trading volume, in one of the most successful ETF launches of all time. Original

As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

The history of the Bitcoin netflow indictor may suggest that the current market is ready for the next major price swing up as the crypto makes a new ATH. Bitcoin Netflow Has Historically Approached Zero Before Major Price Upswings As explained by an analyst in a CryptoQuant post, there seems to be a relationship between BTC netflows and price swings upward. The Bitcoin netflow indictor is defined as the difference between the inflows and the outflows, and it shows the net amount of the crypto entering or exiting centralized exchanges.…

Some NFTs Are Probably Illegal. Does the SEC Care?

This is a pattern that has repeated itself over crypto’s decade-long history. Back in 2017, crypto’s hottest trend was the ICO, or initial coin offering. In the way that a traditional company might issue new shares of stock to the public through an initial public offering, crypto companies were trying to issue new cryptocurrencies as a kind of fundraising mechanism. Eventually, the Securities and Exchange Commission decided ICOs amounted to unregistered securities offerings. If it looks like a security and walks like a security, it’s probably a security. Source

Bitcoin briefly flippens Swiss franc after rally to new ATH

After hitting a new all-time high price approaching $67,000 earlier today, the market capitalization of Bitcoin briefly surpassed the total market cap of the Swiss franc. According to data from Fiatmarketcap, Bitcoin’s market cap was more than $1.263 trillion when the price of the crypto asset reached an all-time high of roughly $67,000 earlier today. This briefly exceeded the value of the circulating supply of the Swiss franc at 1,158,489,000,000 CHF, or roughly $1.26 trillion. AssetDash also lists the total Bitcoin (BTC) market cap within $500 billion of Amazon. The…

Bitcoin ETFs Aren’t New. Here’s How They’ve Fared Outside the US

While futures-based ETFs are not investors’ first choice, the combination of crypto and ETFs could make a big splash, introducing a new class of investor to both sectors. Consider that the global ETF industry currently has $9.4 trillion in assets under management, growing at an annual rate of 26%, while crypto’s market capitalization sits at $2.75 trillion – and most of its value is being held on retail exchanges, in trusts like Grayscale (a CoinDesk sister company) or on-chain where it can be used as intended. The U.S. represents $5.47…