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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though this potential was not always reflected in companies’ share prices.

The report also mentioned that the portfolio of 48 companies is based on a proprietary scoring system, which was created by Elwood Asset Management. This is a specialist crypto investment boutique which is backed by Brevyn Howard hedge fund’s co-founder, Alan Howard. Meanwhile, Elwood’s CEO, Bin Ren, stated that blockchain potential goes far beyond just cryptocurrencies.

According to him, the blockchain technology is starting to see numerous other uses, and while most of them are still within financial services, other greater applications are expected to follow as well.

Blockchain-focused ETFs on the rise

While Invesco’s blockchain-focused ETF certainly received the most attention, it is not the only one. In fact, there are several others on the US and European markets. Even so, they attracted little capital so far, which is potentially one of the reasons why they failed to attract greater attention as well.

The largest of them, known as the Amplify Transformational Data Sharing ETF, currently only has around $110 million in assets. Even so, the global interest in blockchain technology seems to be intensifying, as many have predicted in 2018. While the technology has been around for an entire decade now, it was unknown at first, and then ignored, likely due to its connection to cryptocurrencies, which the banks attempted to bash at any given opportunity.

However, since the blockchain started taking a separate way — still tightly connected to crypto, although showing that it can do much more — even the banks started paying attention. But, while the blockchain may be doing well in 2019, there are still no signs that situation will see any significant change on the crypto front. Bitcoin ETFs remain as unlikely to see the regulatory approval as ever, and many are wondering what is next in store for the crypto space.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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BTC/ETH/XRP — What to Expect in March 2019

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3 largest coins
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So far, 2019 has been relatively eventful for cryptocurrencies. While the huge rally is still just out of the reach, there were a few smaller surges in the past months which have shown that the bearish influence is losing its energy.

The last such surge started on February 18th, and it ended rather abruptly on February 24th. However, during this time, a lot of coins managed to make significant gains, with some of them even going as far as to briefly repair the damage they have seen in November 2018 market crash.

However, this is what happened in the past. And, while the past performance is important for coins, as it provides insight into potential patterns and behavior of specific coins, most investors are more interested in what to expect in the near future. March 2019 has arrived, and everyone wants to know what can be expected of the top 3 largest cryptocurrencies — Bitcoin (BTC), Ethereum (ETH), and XRP.

Bitcoin (BTC) in March 2019

Bitcoin is currently seeing gains, albeit extremely minimal, with the coin growing by only 0.02% in the previous 24 hours. At the time of writing, its price is at $3936.1, while its market cap remains just above $69 billion. Meanwhile, the largest cryptocurrency’s daily trading volume is above $10.2 billion, indicating that traders and investors are still using the opportunity…

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