Bitcoin prices rally after institutions' reliance on Consensus Invest

/ latest / 2018/11 / bitcoin-price rallies-after-institutions-show-trust-to-consensus-invest /

After what can only be described as a few miserable weeks for the cryptography markets. Bitcoin has had a bit of a break, recording an impressive gain of 8.72% over the last 24 hours, with $ 2.59 billion traded in the bitcoin market, according to CryptoCompare data.

Bitcoin price table

There has been a series of positive developments over the past week, which resulted in positive news from the Consensus Invest conference this week in New York. Most important announcements point to the clarity and trust of institutions that build cryptoasset financial products.

VanEck – the investment management company and one of the largest providers of FTE solutions in the world – alongside its index provider, MVIS, has been at the forefront of many announcements .

Nasdaq Bitcoin Futures

CryptoGlobe reported on Tuesday that Nasdaq is still planning to launch bitcoin futures despite a delay in the publication schedule. Gaboracs, Head of Digital Asset Strategy at VanEck / MVIS, announced at Consensus Invest that VanEck is a partner of Nasdaq to "market a regulated crypto 2.0 contract".

SEC on Bitcoin ETF

Jay Clayton, President of the SEC, was interviewed at Consensus Invest where he highlighted the long-awaited ETF Bitcoin proposed by VanEck. Mr. Clayton was skeptical about the approval of the Bitcoin ETF until the underlying markets were "free of risk or material risk of manipulation".

In order to dispel fears of price manipulation, VanEck recently announced that its Bitcoin ETF price index would use data from three of the largest OTC Bitcoin – Cumberland, Genesis Trading and Circle Trade markets – as they thought this index would be less likely to be put on the market. handling.

Launch of the world's first multi-asset cryptographic index FTE

The ETP Amun Crypto Basket started trading on the Swiss Six Stock Exchange last week and seems to have been well received by the market.

The ETP tracks the price of 4 cryptoassets – bitcoin, ether, XRP and litecoin – backed by an index provided by MVIS. Currently, FTE trades more than $ 400,000 per day, which, although small compared to large US FTEs, occupies a prominent place in the Swiss FTE markets.

Su Zhu, CEO of a hedge fund on foreign exchange trading, noted that a high proportion of investors use FTE for holding and not for trading. He also regards the HODL5 ETP as a "barometer of the natural interest".

Senior Market Analyst at eToro, Mati Greenspan, saw the positive reception of ETP HODL5 as a sign of institutional interest:

The new Swiss ETP crypto is now one of the most popular products on the Swiss primary stock market … What we say, the institutions are here!

Source link