Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Discussieer en deel informatie over blockchain, bitcoin wallet, koers van de Bitcoin, Ethereum, etc.

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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 14 Sep 2018 16:09

Morgan Stanley is Building a Bitcoin Swap Trading Product: Report

Another of the world’s largest investment banks is quietly building a product that will allow its clients to trade bitcoin, at least indirectly.

Citing a person familiar with the matter, Bloomberg reports that Morgan Stanley, the sixth-largest bank in the U.S. by assets, is creating a proprietary derivatives product that will give traders “synthetic exposure” to the price of bitcoin.

From the report:

“The U.S. bank will deal in contracts that give investors synthetic exposure to the performance of Bitcoin, said the person, who asked not to be identified because the information is private. Investors will be able to go long or short using the so-called price return swaps, and Morgan Stanley will charge a spread for each transaction, the person said.”

The report further indicated that Morgan Stanley, whose CEO — James Gorman — said earlier this year that the firm won’t let customers trade cryptocurrency directly through the bank, is “technically prepared” to begin offering these bitcoin swaps, pending the completion of an internal approval process and demand from institutional investors.

CCN earlier reported that Morgan Stanley had poached Credit Suisse’s “bitcoin expert,” Andrew Peel, to head its new crypto division.

The bank joins a growing number of major financial institutions that are said to be evaluating how best to integrate cryptocurrencies into their institutional product lines. Both Goldman Sachs and Citigroup, the fourth- and fifth-largest U.S. banks, respectively, plan to offer bitcoin derivatives products to their clients. JPMorgan has reportedly also begun exploring ways to help its clients invest in cryptocurrency, despite the fact that CEO Jamie Dimon has been one of bitcoin’s most vocal critics.

Meanwhile, Intercontinental Exchange (ICE), the operator of the world’s largest stock exchange, will soon launch the first physically-delivered bitcoin futures product, meaning that contracts will be settled in actual BTC rather than cash (as is the case with the bitcoin futures products currently available on Chicago-based exchanges CME and CBOE).

https://www.ccn.com/morgan-stanley-is-b ... ct-report/
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 21 Sep 2018 18:15

VanEck-SolidX Bitcoin ETFs Delayed – U.S. SEC Sets New Deadline For Its Decision, Invites More Feedback

It seems that the SEC is still keeping us in suspense. The waiting for an exchange-traded fund that invests in Bitcoin is not over, as the SEC is seeking more comments on the listing request.
The SEC expects more feedback

Despite the proposal to list an ETF from Van Eck Securities Corp. and SolidX Management, the SEC is inviting more feedback, the agency said Thursday in a filing, as reported by Bloomberg.

The agency is still seeking views on market manipulation, analyzing whether Bitcoin is less susceptible to manipulation than other commodities that back exchange-traded products.

The SEC published a notice on its official website saying that back in June, Cboe BZX Exchange (BZX) had filed with the SEC “a proposed rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust”, which got published in the Federal Register on 2 July 2018.

The SEC had 45 days from the release of the date of publication in the Federal Register to make a final decision; they were supposed to wait until 16 August 2018 to make their announcement.

But SEC decided on 7 August to exercise its right to extend this deadline by another 45 days to 30 September so that they would have “a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.”

Bitcoin enthusiasts enjoy more achievements

Other than this, the cryptosphere enjoys the revival of more coins in the market and various developments achieved by the companies behind them.

Bitcoin, for instance, managed to achieve something great, even if the naysayers continue to diss the asset.

The cryptosphere had quite a lot to celebrate the past few days, especially after the latest news.

New data coming from Bitcoincharts, Bitstamp, and BC.I. reported that with over $2.4 trillion that has been sent this year, it’s not too far-fetched to say that Bitcoin is currently processing more transaction value than Visa which handles transactions of $1.3 trillion per year.

https://oracletimes.com/vaneck-solidx-b ... -feedback/

Crypotmarket trekt het zich niet aan, was reeds verwacht
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 22 Sep 2018 20:48

The SEC is set to rule on the VanEck-SolidX bitcoin ETF proposal

According to an announcement made yesterday, the U.S. Securities and Exchange Commission (SEC) is set to rule on the VanEck-SolidX bitcoin ETF proposal. The agency has already begun proceedings to decide whether they will approve the proposed bitcoin exchange-traded fund.

The SEC has already published an order to institute proceedings that will determine whether to approve or disapprove the proposed rule change that was filled by Cboe BZX Exchange, Inc. If the SEC approves, Cboe will be free to list a bitcoin ETF that was pitched earlier this year by VanEck a money management company and SolidX, a crypto startup.

Now the SEC is seeking assistance from the Public on their opinion on the Bitcoin ETF proposal. According to the agency, they have so far received about 1,400 comments from the public on the issue.

Brent Fields, the SEC secretary writes:

“Institution of such proceedings is appropriate at this time given the legal and policy issues raised by the proposed rule change. The institution of proceedings does not indicate that the Commission has reached any conclusions concerning any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.”

Under the terms of the proposal, SolidX and VanEck will create a bitcoin trust where SolidX will list shares. Having already delayed the decision on this bitcoin ETF, the SEC could delay it again up to February under the existing regulations.

Recently, the SEC Commissioner Hester Peirce asked the SEC not to limit the emergence of new products based on the perceived weakness of the crypto markets. She was addressing the SEC’s decision to reject the Winklevoss bitcoin ETF proposal.

Through a letter of dissent, she said that the SEC decision was not based on analyzing bitcoin or the blockchain as a viable innovation and investment.

She adds that as the market stands currently, its complex in that only a particular type of investor can be able to pursue the diversified opportunities these assets offer. However, through innovative products like ETFs people can access cryptos indirectly or even hedge their crypto holdings.

https://cryptolinenews.com/2018/09/bitc ... -proposal/
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 07 Okt 2018 12:47

Resurrection? SEC to Begin Reviewing 9 Rejected Bitcoin ETFs

The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.

In a series of documents published yesterday, on Oct. 4, the SEC revealed that it is set to begin reviewing bitcoin ETF applications from ProShares, Direxion, and GraniteShares, who had sought to list their funds on either NYSE Arca or CBOE BZX.

As part of that process, the SEC has amended NYSE Arca and CBOE’s applications to include clarifying information about the funds subsequently submitted to the agency by the exchange operators.

Accordingly, the SEC has set a new deadline, Oct. 26, for the public to file statements in support of, or in opposition to, the amended applications, after which it will begin the formal review process. In the interim, the current SEC orders denying the applications will remain in force.

As CCN reported, the SEC denied these applications in August, slashing hope among many retail cryptocurrency investors that one of these funds would soon be listed on a regulated securities exchange.

Just one day later, though, the SEC announced that its commissioners would review those rulings, which had been made by agency employees. One commissioner, Hester Peirce, has been a vocal supporter of exchange-listed cryptocurrency products and has criticized the SEC for exceeding its mandate by making qualitative judgments about whether specific investments are appropriate for retail investors rather than determining whether the products in which they are wrapped meet SEC guidelines.

Subsequently, the SEC punted on another bitcoin ETF application — a physically-backed fund proposed by VanEck and SolidX — delaying ruling on that fund until at least December. However, analysts say that it is likely the SEC will not issue a formal ruling on that fund until early next year.

https://coinwrath.com/sec-to-begin-revi ... coin-etfs/
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 23 Okt 2018 19:21

BITCOIN SEC ETF MEETING: CBOE, VanEck, SolidX All Meet With SEC Commissioner Elad Roisman; Approval Confidence ‘High’

On October 9th new SEC Commissioner Elad Roisman met with representatives from Van Eck, SolidX, and the CBOE to discuss the proposed Bitcoin ETF.

Roisman is the first commissioner to publicly meet with representatives of the three groups. The previous presentation was made to SEC staff, specifically the Office of Market Supervision and Division of Trading and Markets.

**the bulk of this report was provided by @CryptoQF a trusted crypto data and analysis account**

In the meeting with Commissioner Roisman arguments were made that the Bitcoin ETF should be approved as previous issues identified by the SEC are now resolved. Directly from the presentation:

•There now exists a significant regulated derivatives market for bitcoin.
•Relevant markets – Cboe, bitcoin futures, OTC desks – are regulated.
•Concerns around price manipulation have been mitigated, consistent with approval of prior commodity-based ETPs.
•Cboe’s rules are designed to surveil for potential manipulation of Trust shares.
•Promotes investor protection.

**Attached are the notes for that meeting:

In September, Republican Elad Roisman was confirmed for a seat on the SEC Commission. Prior to his appointment, the commission had only 4 of the possible 5 seats filled.

Roisman is rumored to be friendly to crypto and free markets, similar to Commissioner Hester Pierce. Given Pierce was the only “yes” vote, approval would still require defectors.

Interestingly, a current “no” vote in Commissioner Kara Stein will disappear in December as her term expiration requires her to leave the Commission.

Democrat Allison Lee is rumored to be her replacement, but the gap between Stein’s departure and Lee’s appointment could be a potential opening for the ETF approval.

This leads us to our previous conversations with sources at the CBOE and their continued confidence in an eventual approval:

“The VanEck ETF is perfectly approvable if you have been reading the tea leaves in the rejection language at the SEC connected to previous submissions. It checks every box, as I’ve said before, and I’d be shocked, SHOCKED, if it didn’t win approval. Now that approval will probably come with a bunch of dissenting language amongst the respective approving members – but it will still get approved. Not backing down in any way, in fact, I’d double down on it at the moment.”

“…the SEC is first and foremost interested in investor protection with these types of new asset class submissions. VanEck has that issue covered in spades with zero leverage and accredited investor protections built into the product. That will win the day, eventually. Expect the rhetoric to ramp up and ‘warring factions’ to become more visible leading up to any decision early next year, but I remain imminently confident in an approval.”

Our sources at the CBOE have been consistent and resolute in believing that the Van Eck product has been and is the most likely candidate to make it to the finish line. Every step along the way the only question that they’ve grappled with is timing; never with the likelihood of approval.

A Bitcoin ETF should closely follow the Bakkt launch, the continued maturity of Bitcoin futures markets, Fidelity’s crypto initiative and Nasdaq’s push into the crypto ecosystem. Given all of that activity, a Bitcoin ETF approval in late Q1 of 2019 seems reasonable, even inevitable.

Sourced: https://www.sec.gov/comments/sr-cboebzx ... 175984.pdf

https://abacusjournal.com/breaking-bitc ... 2A_lhjWsyk
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 28 Nov 2018 14:59

Bitcoin ETFs Roadblocked by Lack of Safeguards, SEC's Chief Says

The head of the Securities and Exchange Commission said Tuesday that concern over a lack of investor protections makes it unlikely that his agency will approve a Bitcoin exchange-traded fund anytime soon.

Chairman Jay Clayton said at a conference in New York that he remains worried that cryptocurrency can be too easily stolen or manipulated on exchanges. Those issues need to be addressed before the SEC lets an ETF move forward, he said in some of his most pointed comments about why the agency has rejected recent applications for the products.

“What investors expect is that the trading in that commodity that’s underlying the ETF is trading that makes sense, is free from the risk or significant risk of manipulation,” said Clayton, who was being interviewed by Silver Lake co-founder Glenn Hutchins. “Those kinds of safeguards don’t exist in many of the markets where digital currencies trade.”

The SEC has turned down a series of bids to list Bitcoin-based ETFs in recent months, dashing the hopes of the backers who see the issuance as a critical step to more widespread investment. Agency staff members have expressed concern about potential manipulation in the largely unregulated market.

The agency has brought several enforcement cases to crack down on the market for initial coin offerings, which Clayton has said is rife with fraud. William Hinman, who heads the SEC’s corporation finance unit, said earlier this month that the agency will issue additional guidance on when securities laws apply to cryptocurrencies and on custody rules for digital coins.

https://www.bloomberg.com/opinion/artic ... ncy-crisis
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 03 Dec 2018 23:17

Nasdaq confirms it will list Bitcoin Futures

Rumours that Bitcoin would end up on the stock exchange's boards in 2019 are finally addressed by Nasdaq's senior officials

It has been reported that Nasdaq will be listing Bitcoin Futures from next year.

The UK’s Daily Express newspaper broke the news this morning, confirming recent rumours which had been circulating about the New York-based stock exchange.

The news should herald a wider acceptance of the cryptocurrency throughout the world, and is a huge step towards mass adoption.

According to the Express’s article, the Vice President of Nasdaq’s media team – Joseph Christinat – confirmed “Bitcoin Futures will be listed and it should launch in the first half of next year”.

Christinat added that Nasdaq were awaiting the green light from the Commodity Futures Trading Commission (CFTC), but suggested that was virtually signed and sealed.

It’s happening

“We’re doing this, and it’s happening,” he stressed, adding the current volatility in the market would have no bearing whatsoever on the decision to press ahead with the listing.

The move has been welcomed by market analysts the world over.

David Cheetham of London’s XTB described the news as a “game changer”.

“It sounds like Nasdaq have obviously been working on it for quite some time, which means this isn’t a knee-jerk reaction or jumping on the bandwagon – this is a serious plan,” he told the Daily Express.

The IG Group’s Chief Market Analyst – Chris Beauchamp – said the announcement would be greeted warmly by brokers and traders alike, adding: “It will also bring more visibility and transparency to a market which has no regulation.”
Mainstream future

Stateside, the news has been met with excitement, with many claiming the Nasdaq listing will now pave the way for Bitcoin’s mainstream future.

“This is it – this is the tipping point that people will look back upon in years to come and say that’s where cryptocurrency came into its own,” said New York-based observer John Wintnerbusch.

“Once Bitcoin is listed on Nasdaq’s boards, there’ll be no stopping the march towards cryptocurrency as the future of finance.”

https://coinrivet.com/nasdaq-confirms-i ... 1cH-aGhlU0
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 07 Dec 2018 18:54

SEC Pushes the VanEck Bitcoin ETF Approval Date to February 27, 2019

The U.S. Securities and Exchange Commission (SEC) has finally announced to delay its decision on the VanEck Bitcoin ETF approval to end of February, 2019. Earlier this year, The Chicago Board Options Exchange (CBOE) joined hands with money manager VanEck and blockchain startup SolidX to get an SEC license to trade the Bitcoin Exchange-Traded-Fund (ETF).

According to the Federal Register, the first proposed rule change for notice and filing was published on July 2, 2019. The Securities and Exchange Act says that post the initial filing date, the commission must “issue an order approving or disapproving the proposed rule change not later than 180 days”. If deemed necessary, the commission gets an additional 60 days for review.

The latest SEC document notes: “December 29,2018, is 180 days from that date (July 2, 2018), and February 27, 2019 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change”.

Hence this is the final deadline post which the SEC has only two options, either to approve or to reject the ETF proposal.

Over the last months, a lot has been going around the arrival of VanEck Bitcoin ETF. Investors have pinned their hopes on VanEck Bitcoin ETF as its arrival would certainly increase liquidity for Bitcoin in the U.S. market. The arrival of ETF will allow retail and institutional investors to securely invest in the asset class without locking horns with the regulatory bodies.

However, last week, Cryptoscanner reported SEC Chairman Jay Clayton saying that the crypto exchanges still lack the necessary tools to protect crypto trades from manipulation and other abusive activities.

“When you see an asset trade on Nasdaq or NYSE, there’s a great deal of surveillance preventing you and I from teaming up and pretending we’re decentralized. Those sort of safeguards don’t exist in a lot of markets where digital currencies trade,” said Clayton.

VanEck Director - “America Wants a Bitcoin ETF”

VanEck’s director of digital asset strategy - Gabor Gurbacs - showed confidence over SEC’s approval for their Bitcoin ETF proposal. While speaking to Cheddar News, Gurbacs said:

“It’s fairly certain to us that America wants a bitcoin ETF. We think that we’ve met all market structure obstacles and requirements on pricing, custody, valuation, and safekeeping, so we are cautiously optimistic.”

On the other hand, SEC Commissioner Hester Peirce asked investors not to wait for it eagerly. She added that it can come as early as tomorrow or might even take 20 years. Peirce is popularly known as “Crypto Mom” in the crypto community for her crypto-friendly approach in the past.

She added: “Don’t hold your breath. I do caution people to not live or die on when a crypto or bitcoin ETF gets approved. You all know that I am working on trying to convince my colleagues to have a bit more of an open mind when it comes to [crypto]. I am not as charming as some other people.”

https://cryptoscanner.co/article/?artic ... ry-27-2019
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Re: Aandelen, ETF's en andere afgeleide producten voor cryptocoins

Berichtdoor neku » 24 Jan 2019 21:03

Another blow for Bitcoin ETFs as CBOE withdraws VanEck application

https://cryptoinsider.com/vaneck-withdr ... Y49s5A7NDM
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