Reality Shares to Launch ETF with BTC Futures Investment

As reported, if approved, the new ETF will be released on the NYSE Arca exchange
12 February 2019   543

The American company Reality Shares submitted an application to the US Securities and Exchange Commission (SEC) to create an exchange-traded investment fund (ETF), which provides partial access to Bitcoin futures. This is reported by The Block.

The document states that the new fund will provide access to "both fiat and virtual currencies, that have been widely adopted for use."

To that end, the fund would potentially invest up to 15% of its total assets in bitcoin futures trading on both Cboe Global Markets and CME Group. It could also invest in contracts trading on other bitcoin futures marketplaces at some point, the prospectus noted. In addition, the fund will invest in sovereign debt instruments tied to British Pounds, Japanese Yen, Swiss Francs, and money market mutual funds. 

Application Text

Erik Erwin, CEO of Reality Shares, expressed the hope that such a restriction would advantageously distinguish their application compared to full-scale crypto ETFs, with the approval of which the SEC is slow.

If approved, the new ETF will be released on the NYSE Arca exchange.

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   315

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.