Blockchain ETFs Launched on Nasdaq

Reality Shares Advisors and Amplify Trust ETF launched at Nasdaq
18 January 2018   611

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.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   91

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.