#CryptoCorner: BTC Back Over $10K, VanEck SolidX to Offer Institutions Limited BTC ETF, Binance Acquires JEX and Bitcoin.com Announces Crypto Exchange
#CryptoCorner: BTC Back Over $10K, VanEck SolidX to
Offer Institutions Limited BTC ETF, Binance Acquires JEX and Bitcoin.com
Announces Crypto Exchange
Point Roberts, WA, Delta BC September 3,
2019 - Investorideas.com, a leader in crypto and blockchain investing news
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what’s driving the cryptocurrency market .
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Coming out of the
Labour Day weekend, the crypto market is looking very green with most of the
top 100 coins listed by market cap posting growth in the last 24 hours,
according to data from CoinMarketCap. Bitcoin (BTC) has taken the
lead with eight percent growth, resulting in a trading price of about $10,700
at press time. Though most major altcoins have followed suit, Bitcoin’s more impressive
growth positions it with a 70 percent market dominance.
CoinDesk reports that asset
managers VanEck and SolidX, after having their proposed Bitcoin ETF postponed
by the U.S. Securities and Exchanges Commission (SEC), will use an exemption to
offer institutions a limited version of the ETF. An excerpt from a press
release shared with CoinDesk reads:
“The shares will provide institutional investors access
to a physically-backed bitcoin product that is tradeable through traditional
and prime brokerage accounts. The Shares are the first institutional-quality,
cleared product providing exposure to bitcoin and enabling a standard ETF creation-and-redemption
process.”
Daniel H. Gallancy,
CEO of SolidX, commented:
“As the first bitcoin product in the U.S. with standard
ETF creation and redemption and established clearing and settlement processes,
institutional investors can finally gain exposure to bitcoin within a familiar
context. We view the product as an exciting next step for SolidX and VanEck in
our partnership as we work to bring institutional-quality crypto asset products
to the marketplace.”
Crypto exchange
giant Binance has announced the acquisition of JEX, a
crypto-trading platform that offers spot and derivatives trading. This will
provide Binance users with professional services including futures contracts,
options and other derivative products. An article from Finance
Magnates
quotes Binance co-founder Yi He on the acquisition:
“JEX has a seasoned developer team with proven
experience in cryptoasset product development. JEX has developed solid
derivatives product offerings including perpetual contracts and options, which
are aligned with Binance’s product roadmaps [sic] in the cryptoasset
derivatives market.
We hold an open mind and welcome more
partners to join the Binance ecosystem. We look forward to delivering more
innovative derivative products in the future as Binance JEX.”
Bitcoin.com has announced the launch of its
own crypto exchange. The exchange already has 10,000 accounts signed up after
pre-registration was opened last month. Bitcoin.com’s CEO Stefan Rust commented
“When you want to trade cryptocurrency, you look for an
exchange which is trustworthy and which also offers you a wide range of digital
assets. Bitcoin.com has been in the crypto space since the beginning and our
new exchange, which supports many different coins and soon SLP [simple ledger
protocol] tokens, will complement our existing trusted products in making money
work for everyone.”
Sam Mowers,
Investorideas
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