Copy link
Increase text size
Decrease text size
Link copied

Bit Morgan joins blockchain and adds ETF-labeled products to trading business

Image by David McBee from Pexels

Tue, 10 Mar 2020, 10:05 am UTC

Traditional financial firm consortium Bit Morgan has joined blockchain and added an exchange-traded fund (ETF) to its trading business as announced in a press release.

In the traditional financial markets, ETF is as important as an investment tool that’s popular among investors to achieve asset appreciation. Bit Morgan designed an ETF digital currency based on its attributes, valuation and created a similar financial product. ETF is the “securitization of digital currencies.”

Bit Morgan designed the ETF as a multi-digital currency asset that holds bitcoin (BTC), ethereum (ETH), and EOS (EOS) to ensure market demand for the ETF.

Bit Morgan’s digital currency offers three advantages.

Funding channels for institutions

Bit Morgan’s digital currency ETF introduces a huge flux of funds into the digital currency market and is expected to increase trend for the valuation of all digital currency simultaneously including mainstream coins such as BTC and ETH. It can even witness record-breaking prices.

Lower investment threshold for retail investors

In traditional financial markets, ETF is suitable for long-term investments. In the same way, Bit Morgan’s ETF will allow the public to invest in digital currencies without excessive entry barriers.

Promote industry transformation

“The most important principle for digital currencies is that consensus generates value. With a huge influx of people into the market, there will be a stronger consensus to promote industry progress. This initiative by Bit Morgan will thus progress the industry and accelerate industry transformation,” the press release read.

The upwind of the digital currency market and release of digital currency ETF are expected to push the rapid development of digital currencies. If Bit Morgan’s digital currency ETF would be successful, it could reshape the level of trust toward digital currencies and further promote its development.

Meanwhile, the U.S. Securities and Exchange Commissions (SEC) might reconsider bitcoin ETF in the future due to retail and investor demands. Just recently, SEC disapproved of Wilkshire Phoenix’s application citing that it fails to demonstrate that its proposal is coherent with the requirements of Exchange Act Section 6 (b)(5).

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $11,609.70 (-1.47%)
  • Ethereum (ETH) $380.69 (-3.59%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $304.95 (-1.34%)
  • Bitcoin SV (BSV) $229.43 (-3.06%)
  • Bitcoin (BTC) $11,609.70 (-1.47%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft