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Invesco, A $364 Billion Exchange Traded Fund (ETF) Manager Files For Bitcoin ETF

Mark Brennan
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Invesco, A $364 Billion Exchange Traded Fund (ETF) Manager Files For Bitcoin ETF

Invesco filed Bitcoin Exchange traded fund (ETF) application with Securities and exchange commission of America (SEC). A Bloomberg expert believes Invesco rushed to file this application to be ahead of other companies.


Invesco, which is $364 Billion ETF manager, is the latest institution to apply for a Bitcoin ETF. According to Law 40 of the SEC, the ETF Manager applied for a Bitcoin Strategy ETF. The ETF will include Bitcoin futures, GBTC Grayscale shares and a Canadian Purpose Bitcoin ETF.

Eric Balchunas (Senior ETF Analyst at Bloomberg), tweeted that Invesco had applied for a Bitcoin Strategy ETF. The document states that the ETF was filed on August 5.




Eric Balchunas Said:

“Invesco filing for a Bitcoin Strategy ETF under 40 Act (to satisfy Gensler) that will hold futures, GBTC and Canada bitcoin ETFs. Rare 6am filing = rushed it out. Won’t be surprised if we see 5-10 of these by Friday night.

Basically the SEC’s hang up w 40 Act could end up funneling billions into derivatives, GBTC (which is a major reason ETF needed!) as well as up north into another country when the ppl just want an ETF that holds bitcoin directly.”

 

Bloomberg reported on June 10 that Invesco intends to apply for Bitcoin ETF for SEC approval.

In A Recent Update, Charles Hoskinson Tells About Cardano Smart Contracts Launch Dates

Mark Brennan
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In A Recent Update, Charles Hoskinson Tells About Cardano Smart Contracts Launch Dates

Soon we will know exactly when Cardano Alonzo Hardfork will be launched.


Cardano is very close to the launch of smart contracts. During a recent live broadcast, IOHK CEO, Charles Hoskinson announced that the date of the Alonzo Hard Fork will be announced in mid-August.

Based on the information that Hoskinson has currently provided, We can assume that Cardano plans to activate Smart Contracts in late August or early September.

Starting from next week, IOHK will start bringing in exchanges partners, moving to the “Purple” stage of the multi-phase Alonzo upgrade.





He said:

“We are going to know this date definitively based on the feedback we get from the exchanges, EMURGO, and the rest of the partners that have to integrate.

Alonzo white is looking great and we’re very ready for purple so at the mid month update we’re going to give a precise date and we’ll probably give two dates one is the primary date and then a fallback date so as many of you know when we do an HFC event, and it has to be triggered five days before the actual day.”

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Bitcoin Adoption Grows As Melanion Capital Launches First European Union Regulated ETF That Tracks Bitcoin Price In France

Mark Brennan
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Bitcoin Adoption Grows As Melanion Capital Launches First European Union Regulated ETF That Tracks Bitcoin Price In France

Melanion Capital launches Europen regulated exchange-traded fund (EFT) to closely monitor the price of bitcoin with a basket of stocks.


Melanion Capital, an established French investment management firm, launches an exchange-traded fund to track the price of bitcoin with variety of stocks, according to the Financial Times.

Its shares will be trading on Paris stock market, Euronext.

This ETF is unique because of its UCITS status, which makes it regulated across the entire European Union.

The launch of such investment products shows the growing interest in Bitcoin, where previously such Bitcoin Products were discouraged or restricted by institutional investors and financial regulators.

Winston Penhall, a London fund lawyer at Keystone Law, stated that the newly issued ETF was the first crypto-related product to be licensed under the UCITS Directive.

He said:

“I have not yet seen any funds launched that are focused on digital assets, under the UCITS umbrella.”





While strict restriction limit Melanion Capital from offering access to the real thing, there is a 90 percent correlation ratio between its index and the price of Bitcoin.

Funds regulated by UCITS are available for sale throughout the EU. UCITS is considered as a standard in fund regulation. These funds are appealing to investors because they offer high levels of protection. Though the newly released ETF is tailored in some manner to cryptocurrencies, This is still not a fully functional and established Bitcoin-addressed legal framework.

Subreddit r/CryptoCurrency Coin Moons Takeover Dogecoin In An Imposing Run

Mark Brennan
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Subreddit r/Cryptocurrency coin, Moons price has now surpassed Dogecoin. Moons continue its rapid growth. 

 

r/Cryptocurrency Subreddit coin, Moons is now worth more than the popular meme coin Doge. After the announcement of a new scalable network by Moons developers, moons price has increased sharply. The announcement was that the project can be deployed on the Ethereum network by using the Arbitrum Layer 2 scaling solution.

The exciting thing about Moons is that the coin can be earned by receiving upvotes on r/cryptocurrency.

Moons price was $0.06 a month ago. At the same time, the price of Dogecoin was playing at $0.17 to $0.25 after making the all-time high of $0.80.

Dogecoin price fell by more than 60% from its All-Time-High but Moons price mainly remained flat during that period as the coin was becoming popular.

Moons did not suffer from the last week’s market correction. Moon price continued to rise in the previous week, ending the last week at $0.21. Dogecoin closed the weekend at 0.199 dollars. Both coins followed each other closely.





Moons started a new week with incredible growth. The Moons coin was worth $0.23 at the start of the week (August 2, 2021), and it reached an All-Time-High of $0.41 in a few days.

The price of the moons has seen a increase of 25% over the last 24 hours. Moons price rose above $0.4 before falling back to $0.362 at the time of writing. The price of doge was at $0.199, rising only 0.60% in the last 24 hours.

Dogecoin Price: https://www.coingecko.com/en/coins/dogecoin

Moons Price: https://www.coingecko.com/en/coins/moon

After Securing First Crypto Licence In Germany, Coinbase Launches Coinbase Germany

Jakkk
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After Securing First Crypto Licence In Germany, Coinbase Launches Coinbase Germany

American Coinbase Crypto platform announced the launch of Coinbase Germany’s subsidiary for servicing the German market.


Geld Institute reports that Coinbase is launching Coinbase Germany.

On June 29 Coinbase announced that Coinbase secures first crypto licence in Germany.

Coinbase blog wrote:

“We are delighted to announce that the German Federal Financial Supervisory Authority (BaFin) has awarded Coinbase Germany GmbH a licence for crypto custody and trading, under the new licensing regime introduced in January 2020. The BaFin licensing framework is the first of its kind in the European Union, and Coinbase Germany is the first company to be issued such a license.”




Now Coinbase set to launch Coinbase Germany. Coinbase Germany will offer to institutional and end customers safe access to crypto services like trading and staking.

The crypto platform is expanding its product range with a staking offer and German earn rates, meaning German customers can generate passive income with their cryptocurrencies. In addition, German-speaking customer support and options for institutional customers will be expanded over the long term.

All services offered by Coinbase Germany are subject to the supervision of the German Federal Financial Supervisory Authority (BaFin). Staking is now also available on Coinbase for German customers. With staking, owners of cryptocurrencies make their coins available for the validation of transactions on a proof-of-stake blockchain and receive new coins in return.

Bitcoin On-Chain Data Analysis-What’s Happening In Bitcoin Lightening Network, Bitcoin Supply Distribution, And BTC Accumulation

Mark Brennan
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Bitcoin On-Chain Data Analysis-What’s Happening In Bitcoin Lightening Network, Bitcoin Supply Distribution, And BTC Accumulation

Lets have a look on Bitcoin On-chain data.

Lightning Network: 13,600+ nodes

The Lightning Network is a sublayer on the bitcoin blockchain. It is intended to make payments fast and cheap transaction.

Lightning is becoming more popular among bitcoiners and the increasing Lightning volume speaks for itself. British on-chain analyst Philip Swift has an update. First of all, the capacity, measured both in dollars and in bitcoin, has grown strongly in recent months. The number of Bitcoin lightening nodes have grown to more than 13,600.


The fact that more BTC is stored on the Lightning Network is also noticeable by the fact that more and more BTC are leaving exchanges.

Read: Forget SEC, US Infrastructure Bill Is The Crypto’s Real Worry

The bitcoin outflow from the centralized exchanges in July reached the highest level since November 2020. According to GlassNode, the bitcoins outflow from the centralized exchange in July exceeded 100,000 BTC. Over the past seven days, about 40,000 BTC have been taken out from crypto exchanges. (Read, Glassnode Report Details)

 




Bitcoin Distribution:

The past few weeks have been dominated by Bitcoin supply Distribution.

Read: On 3rd August Miami Became The First US City To Launch Their Crypto, Miami Coin (MIA) to Fund City Initiatives, And Rewards Users In BTC

This holder group buys as soon as the price dips and sells as soon as the price reaches a certain top. This can give the impression that the bitcoin market is determined by a limited group of investors. Also known as whales, they are worth at least 1,000 BTC or more as assets.

But that picture is not entirely correct. It is the small players in the market that are doing good over the past 24 months. As a result, the distribution of the coins becomes more spread out, according to the Dutch analyst Dilution-proof.

“The bitcoin supply distribution keeps improving.

Over the last 2 years, we’ve seen 2 (almost 3) occurrences where the percentage of the total bitcoin supply that is held by relatively smaller entities surpass that of entities with a much larger balance size.”

 

But whales don’t sit still. The whales with between 1,000 and 10,000 BTC on their balance sheets accumulate just as much.

 

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Bitcoin Accumulation

Trader Bitcoin Jack also summarizes what has happened in recent months. Bitcoin in circulation has changed hands: from weak hands of speculators to strong hands of holders.

 

Vechain Price Prediction: Vechain Awaits Golden Cross For 58% Upswing

Albert Brown
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Vechain Price Prediction: Vechain Awaits Golden Cross For 58% Upswing

VeChain six hours price chart shows that the Golden Cross is quickly approaching, which suggests higher prices.

Read: Vechain And Shopping.Io Became Partners To Enable Vechain Holders To Shop On Amazon, Ebay, Walmart And Etsy Using VET Token


VeChain rebounded from the 50-week SMA. It posted a 15.22% increase last week and ended July with a slight decline of -1.65%.

VeChain price has increased 45.88% since July 21. This brings the cryptocurrency closer to the resistance of $0.099, where 200-day SMA is waiting to act as resistance $ 0.097.

vet anlysis two 8-4-21

VET is expected to make a sharp turn in the next few days. The upside move will attempt to overcome the 200-day SMA. If VET can break 200 SMA moving average resistance It will then test the 38.2% Fibonacci level at $ 0.133. This is a 58% increase. Due to price congestion in May and June, the 38.2% Fibonacci level will likely act as a strong resistance.

Read: Why So Many Multi Billion Dollar Business Chose VeChain To Build Their Blockchain Solutions?

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The bullish Golden Cross:

The bullish Golden Cross displayed on the six-hour VeChain chart, will occur When the 50 six-hour SMA crosses over the 200 six-hour SMA. The November 2020 Golden Cross was the last on the six-hour chart, which resulted in a significant advance that made April’s high.

On the other side if resistance gains strength, and bears takes control, The downside is only protected by the 50-day SMA present at $ 0.08.

Read: Vechain CEO, Sunny Lu Interview By Fenbushi Capital

If the important moving average support brakes, This next major support levels are at $0.073. A more deeper correction could lead Vechain price to $0.059.




Michaël van de Poppe Vechain Analysis:

Michaël van de Poppe, The well-know trader, and technical analysis expert from Amsterdam Stock Exchange, gave his Vechain analysis.

He said on Twitter:

“VeChain is following the path.

For VET/BTC pair, Preferred scenario as 270 sats is critical resistance.

If another test of support around 210 sats holds, i am expecting bullish tests.

However loosing 210, i am looking at 100 and 155 sats.”

 

van de pop vet analysis 4-8-21

In his Latest Comment, Charles Hoskinson Slammed Those Who Claim Cardano Won’t Be Able To Launch Smart Contracts In Due Date

Mark Brennan
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In his Latest Comment, Charles Hoskinson Slammed Those Who Claim Cardano Won’t Be Able To Launch Smart Contracts In Due Date

Cardano creator, Charles Hoskinson faces critics after the market puts its money against him saying that Cardano will not be able to meet dead line of smart contracts launch.

Read: For The First Time Cardano will Be Listed On Any Japanese Exchange As Bitpoint Prepare To List ADA In Late August


Charles Hoskinson, CEO of IOHK, has once more slammed those who claim that Cardano won’t be able to launch smart contracts in due date.

According to IOHK’s released roadmap, the largest Proof of Stake blockchain will launch smart contracts in September.

Read: Cardano Founder “Users Can Run Smart Contracts The Moment Hard Fork Comes On.”

In his recent tweet, Charles Hoskinson said on Twitter:

“It’s extraordinary to me the level of skepticism about our upcoming smart contract launch. It’s not something like SCs will be underwhelming, but rather it simply won’t happen. The critics say it with biblical level certainty. We should start a fund to pay for their therapy”

 




 

Most Polymarket users think that Gauguin Cardano’s era will not start on October 1, and bet against Hoskinson.

Read: Yoroi Wallet To Release Dapp Connector That Will Allow Interactions Between Users And Dapps On Cardano Blockchain

Coindesk writes:

“Polymarket market  allowed participants to bet on whether the Cardano blockchain will release smart contract functionality by Oct. 1. The odds were 63-37 against, according to trading levels on Polymarket.”

But Hoskinson and cardano community are confident that Cardano will easily be able to launch smart contracts within due time period. 

Forget SEC, US Infrastructure Bill Is The Crypto’s Real Worry

Mark Brennan
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Forget SEC, US Infrastructure Bill Is The Crypto’s Real Worry

Gary Gensler, chairman of the Securities and Exchange Commission (SEC) stated in a Bloomberg interview that he believes the SEC should tighten control over exchanges to protect investors against fraud. 

Read: On 3rd August Miami Becomes The First US City To Launch Their Crypto, Miami Coin (MIA) to Fund City Initiatives, And Rewards Users In BTC


Bloomberg reports that the SEC’s main concerns in crypto include “initial coins offerings, marketplaces, lending platforms, decentralized finance (Defi), stable coins, and exchange traded funds (ETFs). Gensler has made several comments about cryptocurrency regulation but has yet to address some of the most pressing questions in the industry, like whether an Bitcoin exchange-traded funds can be approved by SEC.

The Bigger Problem Is The Infrastructure Bill

However, the industry faces a larger problem. US Congress is currently looking for ways to fund an infrastructure bill, which aims to strengthen national railways, tunnels and bridges. One way to raise funds is to close loopholes that permit cryptocurrency holders to dodge taxes. 

Officials complain that crypto transactions can evade taxes because of weak reporting standards. Digital assets such as bitcoin are considered assets by the I. R. S., meaning that each transaction is subject to capital gains tax.

The Senate bill contains a provision that aims to raise taxes by $28 billion by forcing more companies to collect tax information. According to IRS officials, additional tax information will help track cryptocurrency earnings.

The bill was met with concern by the crypto community. The bill contained clauses that Industry lobbyists warned could also include crypto miners, who may be reluctant to share financial information.





Jerry Brito, Executive Director of Coin Centre said:

“Yes there were concessions but the latest language can still be interpreted by Treasury to cover miners, lightning nodes, and the like. If that’s not Congress’s intent, there are easy fixes they can adopt. There’s still time.”

New York Times Writes:

“The final legislative text included some changes to alleviate concerns of the cryptocurrency industry, which expressed alarm last week about new requirements that would define most of the participants in the sector as brokers and force them to turn over information to the I.R.S. The provision was projected to raise $28 billion over a decade.”

FTX US

Lobbyists were managed to modify some words, but industry supporters think the change isn’t enough. They fear that it could trap software companies that create products such as crypto wallets that allow people access to their assets.

For The First Time Cardano will Be Listed On Any Japanese Exchange As Bitpoint Prepare To List ADA In Late August

Jakkk
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For The First Time Cardano will Be Listed On Any Japanese Exchange As Bitpoint Prepare To List ADA In Late August

Cardano native asset, ADA, is set to be listed for the first time in Japan, some believe this is similar to the Coinbase listing for the Japanese community.

Read: On 3rd August Miami Becomes The First US City To Launch Their Crypto, Miami Coin (MIA) to Fund City Initiatives, And Rewards Users In BTC


CTO and co-founder of dcSpark, Sebastien Guillemot, shared a post from the Japanese crypto exchange Bitpoint.

The platform has announced that it plans to list Cardano (ADA) later in August.

Guillemot emphasized that Japanese regulators have strict rules for listing cryptocurrencies on exchanges and only a small number of coins can be listed in the country.

In the comment thread, he compared this listing to a coin listed on Coinbase and claimed that this event was on par with the Japanese crypto community.




Read official announcement of Bitpoint exchange:

https://www.bitpoint.co.jp/news/info/info-2021080301/

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