It is not the first time the U.S. Securities and Exchange Commission (SEC) rejected proposals for a Bitcoin spot exchange traded product (ETP), but efforts continue to be made by different financial institutions. The recent attempt made by Cboe BZX Exchange on Jan. 25 to list the Fidelity Wise Origin Bitcoin Trust as a Bitcoin ETP has also failed. The SEC letter published on Feb. 8 pointed out that the exchange has not met its burden to demonstrate the fund is “designed to prevent fraudulent and manipulative acts” and “to protect investors and the public interest”. Although proposals of Bitcoin …

On Monday, VanEck, a financial institution with close to $82 billion in assets under management with exchange-traded funds, or ETFs, mutual funds, and institutional accounts, announced the launch of its first cryptocurrency fund. The fund is listed as an exchange-traded note, or ETN, on the Deutsche Borse Xetra and SIX Swiss Exchanges with exposure to Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Solana (SOL), Tron, Avalanche (AVAX), and Polygon (MATIC). Gijs Koning, co-head of VanEck Europe, elaborated on why it was important for the firm to facilitate investment in digital currencies: In early 2017, we determined that digital assets could provide …

Nasdaq Stockholm has announced that 21Shares has listed their first two physically backed exchange-traded notes (ETNs) on the Swedish trading platform. The two instruments listed, with Bitcoin (BTC) and Ether (ETH) as underlying assets, represent a new segment for ETNs — a type of unsecured debt security that tracks an underlying index of equities and trades on a major exchange. According to the announcement, the new ETNs will provide investors access to investment opportunities in cryptocurrencies such as Bitcoin and Ether. Helena Wedin, European head of exchange traded products at Nasdaq, says that exchange-traded notes allow one to invest in …

Soon after dropping a filing for a Bitcoin (BTC) futures exchange-traded fund (ETF) in the United States, asset manager Invesco is launching a spot BTC exchange-traded note (ETN) in Europe. On Nov. 29, German stock market operator Deutsche Boerse officially announced the listing of the Invesco Physical Bitcoin ETN on its digital stock exchange, Xetra. The new product will trade under the ticker symbol BTIC. Admitted to the regulated market of the Frankfurt Stock Exchange, the new ETN product is physically backed by Bitcoin and is centrally cleared via Eurex Clearing. “Through central clearing, investors benefit from significantly reduced risks …

German stock market operator Deutsche Boerse continues diving into the cryptocurrency derivatives by listing three new crypto exchange-traded notes (ETN) by VanEck. Deutsche Boerse officially announced on Tuesday that VanEck’s new ETNs on Polkadot’s DOT, Solana (SOL) and Tron (TRX) are now tradable on its digital stock exchange, Xetra, and the Frankfurt Stock Exchange. The new listings expand Deutsche Boerse’s crypto ETN offerings as the company previously started offering similar products on cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the firm noted. “All crypto ETNs tradable on Xetra are physically collateralized and listed on …

Deutsche Borse’s electronic trading platform, Xetra, is preparing to launch its first Ether (ETH)-based exchange-traded products, or ETPs. According to data from Xetra, the platform is set to debut trading of two Ether ETPs — ETC Group’s Ether exchange-traded commodity, or ETC, product (ZETH) and 21Shares’ Ethereum ETP (AETH) — on Tuesday. A spokesperson for Deutsche Borse told Cointelegraph that the two products will be the first Ether ETPs to ever be listed on Xetra. Alongside AETH, Xetra will be also listing 21Shares’ Bitcoin Cash (BCH) ETP, the firm’s global head of ETP, Laurent Kssis, told Cointelegraph. “As of tomorrow …

Since 2017, investors have been anxiously awaiting a Bitcoin ETF approval as the existence of such a fund was an important symbol of mass adoption and acceptance from the realm of traditional finance. On Feb. 18, the Toronto Stock Exchange hosted the official launch of the Purpose Bitcoin ETF and the fund quickly absorbed more than $333 million in market capitalization in just two days. Now that the long-awaited Bitcoin ETF is here, investors are curious about how it will compete with Grayscale Investments GBTC fund. On Feb. 17, Ark Investment Management founder and CEO Cathie Wood said the likelihood …

Grayscale Bitcoin Trust ($GBTC) is currently the largest listed cryptocurrency asset with $30.17 billion in assets under management. The firm currently holds more than 655,730 BTC and the security is tradable in the United States through over-the-counter markets. How is GBTC different from a Bitcoin ETF? The fund was launched in 2013 and the Grayscale Bitcoin Trust became the preferred institutional vehicle in the U.S. for BTC due to the lack of a Bitcoin exchange-traded fund (ETF). Investment trust funds are regulated by the U.S. Office of the Comptroller of the Currency (OCC) and they are designed exclusively for accredited …

Capital has flooded into crypto investment products in recent weeks, with the value of assets invested into crypto exchange-traded products, or ETPs, increasing by more than 90% in the last 30 days. The spike in the assets under management, or AUM, locked in crypto ETPs was noted in the latest report by Crypto Compare, which estimates that almost $36 billion is now invested in crypto ETPs — a 93.7% increase in one month. Grayscale’s various trusts represent more than 83% of the sector’s total AUM, with the firm’s Bitcoin Trust housing $22.6 billion or 63% of all capital invested in …

After spending much of 2019 unsuccessfully lobbying to get its exchange-traded fund, or ETF, approved by the United States Securities and Exchange Commission, investment management fund VanEck has finally launched a Bitcoin-backed exchange-traded product. However, according to a Nov. 25 tweet from the company’s digital asset strategist Gabor Gurbacs, the product is an exchange-traded note rather than an ETF, and is listed not on a U.S. exchange, but Germany’s Deutsche Börse Xetra. Rather than being a mutual fund, an ETN is essentially a debt instrument tracking a sometimes hard-to-access market, which in this instance is Bitcoin (BTC). The VanEck Vectors …

A crypto payments network is celebrating three years in business — and claims it has now surpassed 4 million users worldwide. Electroneum says it is continually unveiling new features that help make our world a better place. One of its flagship products is a mobile-based cryptocurrency that allows people to top up their phones in more than 140 countries. And as Cointelegraph reported back in May, the digital payments project also allows consumers in four African countries to top up their electricity meters directly from the ETN app — with plans to expand this service to even more nations in …

Iconiq Funds, the asset management arm of Germany-based Iconiq Holding — the team behind the ICO and token sale accelerator program Iconiq Lab — is launching a series of digital asset index funds beginning in Q4 2018, the company announced on Aug. 17, 2018. Investment into crypto assets will become available through traditional and regulated financial vehicles, such as exchange-traded funds (ETFs) and exchange-traded notes (ETNs). The first digital asset index fund is planned to be launched under Maltese jurisdiction as a Professional Investor Fund (PIF). It is currently under review by Malta Financial Services Authority (MFSA). The company claims …