Category Archives: Cryptocurrency

Digital Assets

Love it or hate it, crypto is here to stay!

The digital asset world is anxiously waiting for the Securities and Exchange Commission’s decision on the  Winklevoss Bitcoin Trust ETF (COIN). Digital Asset Services, LLC, the sponsor of the Winklevoss Bitcoin Trust, has filed a preliminary registration statement for the Trust with the U.S. Securities and Exchange Commission (SEC) to offer its Winklevoss Bitcoin Shares to investors after the Trust’s registration statement is declared effective by the SEC. The Trust’s purpose is to hold only Bitcoin. The Shares will be listed on the Bats BZX Exchange under the ticker symbol “COIN”

For some firms, regulated investment vehicles are the only practical way to obtain these new digital assets like Bitcoin. However, COIN is not the first product available to investors.

Global Advisors, regulated by the Jersey Financial Services Commission have the Global Advisors Bitcoin Investment Fund plc (GABI) which is listed on the Channel Islands Securities Exchange. In addition to GABI, Global Advisors also manages two bitcoin-tracking Exchange Traded Notes (ETN), both listed on Nordic Nasdaq under tickers COINXBT & COINXBT. These are issued by XBT Provider AB located in Stockholm, a company acquired by Global Advisors.

Grayscale Investments have the Bitcoin Investment Trust. Eligible shares of the Bitcoin Investment Trust are quoted on OTCQX® under the symbol GBTC.

The Zurich-based private bank Vontobel AG offers a tracker certificate, listed on the Swiss SIX Structured Products Exchange.

Revoltura  have an Exchange Traded Instrument (ETI) listed on the Gibraltar Stock Exchange and trades on the Deutsche Börse.

Maltese Prime Broker EXANTE has a Bitcoin Fund which is traded exclusively on the EXANTE fund platform. They are Authorized and regulated by the Malta Financial Services Authority.

Investment firms Fortress Investment Group (FIG), Benchmark Capital and Ribbit Capital have teamed up with Pantera Capital, the U.S. Bitcoin investment firm to launch a Bitcoin investment fund called the Pantera Bitcoin Partners Fund.

SolidX Partners Inc have filed a registration statement with the SEC to offer a Bitcoin Trust on the NYSE Arca exchange.

The second product to be launched by Grayscale Investments, Ethereum (ETC) Investment Trust, allows investors to gain exposure to the price movement of Ethereum Classic through the purchase of a titled security.

The world’s leading and most diverse derivatives marketplace, CME Group, is getting in on the action too. CME Group has launched the CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI), a standardized reference rate and spot price index with independent oversight. These tools are expected to boost the adoption of Bitcoin trading and hopefully establish digital assets as a new asset class.

If you aren’t investing in or trading digital assets yet, you should pay attention. This space could get really big!

I’m offering a “Cryptocurrency Trading with Python” online workshop – moderated by Ernest Chan.

It’s on March 11th / 18th  (2 Consecutive Saturdays). Registration is here:

Gemini‘s Sandbox environment will be used, which offers full exchange functionality using test funds, for testing API connectivity and the execution of strategies.

The goal of the workshop is to help raise awareness of crypto. With exchanges acting as the on/off ramps between digital and fiat currency, more liquidity at the exchanges will ultimately help with the adoption of digital assets. This is a good thing – I am a believer and I am long crypto. More info can be found on The Cointelegraph.