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 fromCoinMarketCap . 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.
CoinDeskreports 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.”
“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 theacquisitionof 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 fromFinance Magnatesquotes 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 hasannouncedthe 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.”
Latest posts by HEFFX Australia (see all)
- Denka (4061.T) Keep This Stock In Your Watchlist - August 3, 2020
- HEFFX Projects Over 30% Upside For Astellas Pharma (4503.T) - August 3, 2020
- Shimizu (1803.T) Compelling Upside Potential - August 2, 2020