Category Archives: Emerging Bitcoin Adoption

NASDAQ to Offer Bitcoin Core, Ethereum Indices this Month

TWO new indices connected to the crypto market will soon be included in NASDAQ Stock Exchange’s platform.

In a statement issued on February 11 by the second-largest stock exchange in the world, NASDAQ announced Bitcoin Core and Ethereum’s entry starting February 25, 2019.

The new indices – the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) – will provide a real-time spot and reference rate priced at 1BTH and 1ETH.

In addition to the tick-messages, recipients would also be getting real time index updates from Nasdaq Global Index Data ServiceSM (GIDS).  Index level information will be disseminated by Nasdaq’s data partner Brave New Coin.

Introducing digital assets to the stock market

NASDAQ further stated:

“BLX and ELX work by capturing data from multiple exchanges to provide a single price point for BTC and ETH, which helps traders get in and out of a given position.”

The latest move by NASDAQ is believed to be one way of introducing digital assets to traditional stock market investors.

Since last year, the exchange began publishing reports about Bitcoin and partnered with Vaneck, an investment management firm based in New York, to initiate Bitcoin futures as trading goes through a falling market.

The new cryptocurrency indices will soon be part of the several NASDAQ indices such as the NASDAQ Composite and the NASDAQ 100.

(Jet Encila is a journalist, editor and freelance writer from the Philippines).

The post NASDAQ to Offer Bitcoin Core, Ethereum Indices this Month appeared first on Live Bitcoin News.

Source: Bitcoin News

Bitcoin ETF Approval Expected, SEC Says

A Bitcoin ETF coming to fruition seems to become more of a reality now, at least that’s how SEC Commissioner Robert J. Jackson Jr. sees it.

In a recent interview with the Congressional Quarterly, Jackson said he expects the commission to approve a Bitcoin ETF one it complies with all the required standards.

So far, the securities and exchange commission has denied approval for all recent filings submitted by different funds who have shown their interest in opening a Bitcoin ETF.

ETF in a nutshell

An exchange-traded fund is a marketable security that monitors a share index, bond, commodity, or a host of other assets. ETF’s, although similar in many ways, differ from mutual funds because stocks trade like common shares on a given exchange. ETF share prices change in one session as they are sold and bought.

10 ETF proposals junked

“Eventually, do I think someone will satisfy the standards that we have laid out there? I hope so, yes, and I think so,” Jackson disclosed in an interview published by Roll Call on Wednesday.

At least 10 ETF proposals have been rejected by the SEC. Last August, it denied 7 filings from Direxion, GraniteShares and ProShares. A day later, though, SEC stated it would review the fund’s proposals.

The lone Democrat’s comments reflect most of the commission’s stance against the adoption of Bitcoin exchange traded funds.

On price manipulation and fraud

The regulatory body has time and again referred to issues with regards market exploitation, protection and liquidity.

Underscoring these major concerns, Jackson brought up the Winklevoss Bitcoin ETF rejected in July last year and said the decision to dismiss the proposal was due to the trust’s incapacity to meet the commission’s requirements on preventing price manipulation and fraud.

(Jet Encila is a journalist, freelance writer and editor from the Philippines).

The post Bitcoin ETF Approval Expected, SEC Says appeared first on Live Bitcoin News.

Source: Bitcoin News