‘Godfather of ETFs’ Says Bitcoin Exchange-Traded Funds Will be Approved ‘No Time Soon’

Reggie Browne, the so-called “godfather of ETFs,” said that Bitcoin (BTC) Exchange-Traded Funds (ETF) will be certified “no time soon,” Business Insider reported Nov. 1. Browne is a senior managing director and head of ETF trading at financial services firm Cantor Fitzgerald. Founded in 1945, Cantor Fitzgerald focuses on institutional equity, fixed income sales, and trading. The company reportedly has over 5,000 institutional clients, which includes such fields as investment banking, prime brokerage, and commercial real estate. Speaking at Georgetown University’s Financial Markets Quality Conference in Washington D.C., Browne reportedly…

Bitcoin is a New Institutional Investment Class

Twitter Facebook LinkedIn There is a rapidly growing interest in bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space. As such, bitcoin and altcoins now constitute a new institutional investment class since 2017, according to new research from major US bank Morgan Stanley. In the report titled “Bitcoin Decrypted: A Brief Teach-in and Implications” and dated Oct. 31, the multinational investment bank’s research department gave an overview of the last six months of bitcoin and brought…

ADA/USD Sink and Stabilize Below 7 cents

Even if prices are low and on-chain development slow, Charles Hoskinson and Cardano are literally hitting milestones. Though it could take a decade or more before Voltaire, once it goes live Cardano might easily outperform competing platforms. This is so because Cardano’s foundation is thorough with scientific verification. Price wise ADA/USD is technically bearish. Unless there are strong moves above Oct 29 highs and key liquidating resistance trend line, bulls stand no chance. Latest Cardano News Any altcoin is as good as the team behind it. That has been the…

Altcoins Register Minor Gains, Still Bearish

The stability of altcoins should be another opportunity to sell according to trend definition of Oct 11. Subsequent confirmations of Oct 29 did place the lid on buyers even though prices are leveling out. But, it could get worse if losses print today. On the reverse side a stream of boosting fundamentals could propel pairs as IOT/USD, LTC/USD and even EOS/USD above key resistance levels relieving coin holders. Let’s have a look at these charts EOS/USD Price Analysis Market participants are beat out. It’s not by bears but by the…

Bitcoin (BTC) Price Watch: Aiming for $7,000 Next?

Bitcoin Price Key Highlights Bitcoin price is gaining traction on it bounce off the channel support on its 4-hour time frame. A move to the next upside targets might be in the works and the Fibonacci extension tool marks these. Technical indicators are hinting at weakening bullish momentum, though. Bitcoin price looks ready to resume its climb and might aim for these upside targets marked by the Fib tool. Technical Indicators Signals The 100 SMA seems to be crossing below the longer-term 200 SMA to indicate that bearish pressure might…

Crypto Investment Firm’s Revenue Reaches Record $330 Mln in 2018, Despite Bear Market

Cryptocurrency asset management firm Grayscale Investments Inc. has reported revenue of nearly $330 million in 2018, according to its third quarter (Q3) investment report released Nov. 1. The company managed to reach this figure despite a prevailing bear market. In the report, Grayscale highlights that it raised $81.1 million over the last three months, which brought the firm’s year-to-date inflows to almost $330 million, representing an increase of almost 1,200 percent from the same period in 2017, when the company raised $25.4 million. The current year is the strongest Grayscale…

Crypto ETF Will Come When Industry Is ‘Legitimate’

The CEO of investment management corporation BlackRock, Larry Fink, does not see the company offering a cryptocurrency Exchange-Traded Fund (ETF) until the industry is “legitimate,” CNBC reported Nov. 1. BlackRock is a financial planning and investment management firm that currently has $6.28 trillion in assets under management, including equity, real estate, fixed income, and cash management. Speaking at the New York Times Dealbook Conference in Manhattan on Nov. 1, Fink questioned the reasonability of launching a crypto ETF, at least until the industry becomes “legitimate.” “I wouldn’t say never, when…

Ethereum & Ripple (XRP) Plunged, Tron Led Oct. Index

Twitter Facebook LinkedIn The month of October saw many altcoins continue to bleed out in price, with ethereum (ETH) and ripple (XRP) each declining by more than 10 percent. After almost ten months of mostly bearish price action in the cryptocurrency space, there was just one crypto token that managed to tread water in October — tron (TRX). Tron’s [Previously] Volatile Nature Tron’s October stability comes as a bit of a surprise for a coin that is often volatile. Earlier this year, Finder.com conducted a study ranking the top fifty…

Binance Signs Up 40,000 Crypto Traders in Its First Week in Uganda

Despite global market doldrums, demand for cryptocurrency appears to be booming across Uganda, a country where nearly three out of four people don’t have bank accounts. Revealed exclusively to CoinDesk, Binance Uganda signed up 40,000 users in the first week since the world’s largest crypto exchange launched its local subsidiary in October. The early results suggest a strong appetite among unbanked Ugandans for purchasing bitcoin or ether, the two coins the new Binance unit currently lists. According to a paper by Stanford University researchers recently published in the American Economic Journal, 74…

Malta to Develop AI Strategy Following Success as ‘Blockchain Island’

The Maltese government has announced the formation of a taskforce to develop a national artificial intelligence (AI) strategy, Cointelegraph reports Tuesday, Nov. 1 from the Malta Blockchain Summit. The Junior Minister for Financial services, Digital economy and Innovation, Silvio Schembri announced the launch of the governmental initiative “Malta.ai,” stating that Malta is aiming to become a top AI nation. He said that the country would develop a friendly regulatory environment for AI much in the same way as it has done for blockchain technology: “After successfully positioning Malta as the…