An Exchange-Traded Bitcoin Note Now Allows U.S. Investors To Invest In BTC

Bitcoin Tracker One is an exchange traded note (ETN) that is now quoted in U.S. Dollars under the ticker CXBTF, which allows Americans to invest into.

The ETN started trading on the Nasdaq Stockholm exchange in 2015.

This is liken to a soft opening of sorts for crypto ETF which has been repeatedly declined by the Securities and Exchange Commission due to manipulations and liquidity concerns.

The Chief Executive Officer of COinshares Holdings Ltd (the parent company that offers the ETN), Ryan Radloff discloses that everyone that is investing in dollars can now get exposure to these products which were only available in Euros or Swedish Krona. ETN unlike exchange-traded funds are debt instruments that are backed by their issuers rather than a pool of assets and often focus on specialized strategies that do not easily fit in a fund.

Pantera Raises $71 Million For 3rd Crypto Fund

According to publicly released documents, Blockchain investment firm Pantera Capital launched its third crypto fund which is said to already raised more than $71 million being committed.

The new investment schemed called Venture Fund III started its offering on July 31 with over 90 investors.

It is not clear what is the target for the said fund but online sources reveals that it is targeting about $175 million in total.

Prior to this fund it has raised $13 million for its Venture Fund II in 2016 and about $25 million of its ICO Fund in 2017.

The company’s Venture Fund III has already made its first blockchain bet investing in Bakkt, crypotocurrency trading platform by ICE, the parent company of the New York Stock Exchange.

Ethereum Classic (ETC) Recovers As It Launches On Coinbase Consumer

The digital asset Ethereum Classic (ETC) has quickly rebounded from recent lows of $9 dollars and showing again its robustness amidst bearish market sentiments.

The reason behind this is its listing in Coinbase consumer in which it will be available to all customers of Coinbase in all countries were Coinbase Consumers is available.

The news has lifted the digital asset to $14.3 price range which is about 16% up in the past 24 hours.

The volume is mainly supported by the Asian markets with around $410 million transaction volumes.

There is also an increase of hashrate for the Ethereum Classic Network which has more than doubled in the last three months.

The upward trend in mining activities is reflecting the bullish attitude.
A marked increase in ASIC mining has prompted the ETC team to tweak the mining rules to make amateur miners more competitiveness.

Korean Largest Cities Wants To Be Crypto Capitals

After the government of South Korea released the new regulatory framework for crypto businesses and blockchain projects, it seems that all the major cities in South Korea have started to build regional policies to fuel the growth of cryptocurrency-related companies.

Cities like Busan, the second largest city in South Korea, has expressed its intent of making the next Crypto Valley of the world in South Korea which is inspired by the success of Zug Switzerland.

Its Mayor, Oh Keo-don has revealed that more than 2,500 blockchain projects and produced over 11,000 blockchain related job throughout the past two years and the city have a vibrant cryptocurrency community with friendly regulations and policies.

Binance LCX Fiat-To-Crypto Exchange

A joint venture between Binance and LCX, Binance LCX has announced their support for fiat-to-cryptocurrency exchange in Liechtenstein.

Binance will provide the technical expertise and experience with cryptocurrencies exchange while Binance LCX manages customer support, legal requirements, due diligence, KYC, AML and government communications.

Binance LCX exchange will initially offer trading between Swiss Francs and Euros against top cryptocurrencies pairs and plans to include more pairs in time depending on the regulatory landscape. Binance LCX plans to build a team of about 10-15 people for its operations in Lienchtensein office which by now has started the hiring process.

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