Blockchain ETFs Launched on Nasdaq

Reality Shares Advisors and Amplify Trust ETF launched at Nasdaq
18 January 2018   490

Yesterday, 18.01.2018, for the first time on the Nasdaq exchange, two exchange-traded investment funds (ETF) came out, which will invest exclusively in the blockchain startups. One of them is established by Reality Shares Advisors, the other is Amplify Trust ETF. This is reported by CoinDesk.

Both funds appeared on the Nasdaq stock exchange at 9:30 am North American Eastern Time (EST). Nasdaq NextGen Economy (BLCN, ETF-fund company Reality Shares) began to trade at a rate of 24.2 dollars, and Transformational Data Sharing (BLOK; ETF-fund company Amplify Trust ETF) - closer to $ 20.

The fact that both funds will work exclusively with the blockchain companies, became known as early as in November 2017. In addition, the prospectuses noted that both funds will invest only in those blockchain companies whose market capitalization exceeds $ 200 million, and a six-month average daily trading volume of at least $ 1 million.

According to Kien Salehizade, an analyst at Reality Shares, his company, along with Nasdaq, has developed an index that will track blocking start-ups for future investments.

We wanted to do a blockchain technology-related ETF, so not another bitcoin fund but something that takes advantage of the underlying ecosystem. So we developed a methodology in-house which measures seven quantitative factors and we run those factors on a universe of publicly traded [data].
 

Kian Salehizadeh

Analyst, Reality Shares

He also noted that initially in the name of the fund was the word "blockchain", but at the request of the Securities and Exchange Commission of the United States, it had to be removed.

In addition, the Commission has not formally approved the emergence of funds in the listing on the Nasdaq. But, according to Salehizadeh, according to the current legislation, in the absence of official disapproval, their listing on the exchange is approved automatically. The Commission had 75 days to disapprove or object to the fact that the funds were listed on the stock exchange. But there were none, so funds can be placed on the Nasdaq.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   121

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.