Mined Bitcoin Cash traded into Bitcoin on Riot Blockchain

Cryptocurrency investment company Riot Blockchain is not long on Bitcoin Cash, according to the Colorado-based firm’s 2017 financial results
27 April 2018   1730

The Nasdaq-listed firm, which declares that it had 3,500 Bitmain S9 miners expanded at a data center in Oklahoma City at the end of March and is going to have 8,000 running by the end of May, claimed that it “presently converts any Bitcoin Cash mined to Bitcoin on a regular basis.” In March, approximately 69 BTC and 44 BCH were earned by Riot Blockchain, that collectively worth about $670,000 at the moment of writing.

Riot Blockchain also possesses a 12.9% ownership share in Coinsquare, Canada-based cryptocurrency exchange, which recently gained a CAD $430 million assessment (~$335 million) and is aimed to list its stakes on the Toronto Stock Exchange this year. The firm lately acquired a controlling stake in Logical Brokerage Corp., a futures brokerage company that is registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Riot Blockchain has also claimed that it is “investigating” the opportunity of launching its own cryptocurrency exchange.

However, Riot Blockchain shares are trading well under the all-time high they set in mid-December, which has been observed with most cryptocurrency “proxy stocks.”

One reason for the fall is that the company may lose its spot on the Nasdaq, which would relegate its shares to over-the-counter (OTC) markets, that are much less liquid.

Nasdaq has threatened to delist Riot Blockchain’s shares for breaking the rules of the platform. The company has not managed to arrange its 2017 annual meeting of shareholders in a timely manner, which the firm says stems from difficulty achieving quorum. In the filing, Riot Blockchain announced it has scheduled an annual meeting for May 9 at its mining facility.

Bitwise to Withdraw Bitcoin ETF Application

The application was filled a year ago, company met with regulator 8 times and prepared more than 500 pages of documents
15 January 2020   152

Bitwise Asset Management, a digital asset management company, has withdrawn an application to launch a Bitcoin-linked exchange-traded fund (ETF).

On Tuesday, Bitwise sent a notice to the US Securities and Exchange Commission (SEC), where it announced that it had made such a decision "in the public interest and investor protection."

We did indeed withdraw the application. This is a procedural step, and we intend to refile our application at an appropriate time.


Matt Hougan

Global head of research at Bitwise

He also noted that his firm is currently “working hard” to answer the SEC questions in the 112-page commentary on the initial application.

We remain fully committed to the development of a bitcoin ETF.


Matt Hougan

Global head of research at Bitwise

Bitwise has applied for the launch of the Bitcoin ETF in January 2019. Since then, the company met with the regulator eight times and prepared 500 pages of documentation with arguments in favor of approving its proposal.