Reality Shares to Launch China ETF

Reality Shares Nasdaq NexGen Economy China ETF, will focus on Chinese companies committed to “developing, researching, supporting, or utilizing blockchain.”
21 June 2018   298

Asset management company Reality Shares launched the world's first ETF, the basket of which consists of Chinese blockbuster companies. The firm said that its goal is to "“democratize the world’s best investing ideas". This is reported by CCN.

Reality Shares Nasdaq NexGen Economy China ETF (Nasdaq: BCNA) will focus on Chinese companies engaged in "development, research, support or use of blockchain." Companies will be evaluated in accordance with several key factors, including their role in the ecosystem of the detachment, the stage of product development, etc. Reality Shares argues that its methodology is based on a number of quantitative factors and is designed to "identify and evaluate the most highly rated companies" in the space of the blockbuster.

BCNA includes 31 components and will undergo changes to the basket on a semi-annual basis. CEO of Reality Shares Erik Erwin said that this approach will allow investors to freely access the blockchain companies in China. He also noted that the Asian country "is rapidly becoming the global epicenter of blockchain innovations," and the blockchain industry "provides incredibly exciting and long-term investment opportunities."

The company expects that its new investment fund will be able to demonstrate impressive performance due to the growth of the blockbuster industry in China. It notes that this market has several characteristics that may be attractive to investors, namely "the historical lack of correlation with the US market, the size of the securities market and strong credit quality." In addition, in 2017, Chinese companies were the leader in the number of issued patents in the field of blockchain.

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   92

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.