Genesis Global Trading to Launch Crypto Lending

A market maker set up a lending business, that will allow investors and businesses to borrow cryptocurrencies
01 March 2018   856

Genesis Global Trading Inc., a big institutional market maker for digital currencies announced the launch of Genesis Global Capital – Institutional Digital Currency Lending.

Global Capital will allow investors and businesses to borrow cryptocurrencies in quantities of $100,000 or more for two weeks up to six months. The currency of loans will be in bitcoin, ether, ether classic, XRP, bitcoin cash, zcash, and etc.

According to a press release, the lending service will increase general liquidity in the marketplace, encourage new financial institutions to participate in a two-sided market and increase the working capital that companies use to scale their cryptocurrency-centric businesses.

Global Capital suggest investors to use the company’s lending capacity to hedge total portfolio risk or take speculative short positions or for other cases.

Some companies, such as BlockTower Capital and DV Chain are already interested in the lending service.

The majority of trading volume in several cryptocurrencies is denominated in bitcoin, which has created a need for a bitcoin lending market.

Garrett See

DV Chain CEO

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   87

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.
 

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.
 

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.