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   751

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.

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.