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   818

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.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   294

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.


Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.