Bitcoin ETF application passed

1.

ETF, fully known as "trading type open-end index fund", is a kind of open-end fund listed and traded on the exchange with variable fund shares. Investors can not only apply for or redeem fund shares from fund management companies, but also buy and sell ETF shares at the market price in the exchange. ETF is the bitcoin holder's consignment of bitcoin spot to the fund company, and then the fund company relies on it to publicly issue fund shares in the exchange and sell them to all kinds of investors. In addition, banks and brokers will be responsible for underwriting

in short, bitcoin ETF is to securitize bitcoin into an open-ended fund proct that can be bought on the exchange

the successful application of bitcoin ETF means that:

1. The successful application of bitcoin ETF will first lower the threshold of bitcoin transaction and bring a lot of money to the bitcoin trading market

2. It will accelerate the development of cryptocurrency instry and promote asset custody

3. ETF is equivalent to telling the public that bitcoin has been officially recognized as a legal asset class, changing people's overall view on the regulatory risk of cryptocurrency, which will accelerate the public's acceptance of cryptocurrency represented by bitcoin

the launch of any ETF proct will naturally stimulate its underlying proct market, because on the one hand, the underlying proct is most suitable for hedging ETF price fluctuations, and on the other hand, ETF purchase and redemption will inevitably involve buying and selling entity bitcoin. If the 15th application is passed, it will be a healthy development. In the next step, there will be more demand for derivatives, such as ETF options

2. It's very difficult in a short period of time. Every time it's close to the examination and approval gate, there will be a wave of speculation. The result of the hype will make you feel hopeful, very hopeful to pass this time, and then wait until that day to find that you failed. Don't trust the media in the field of blockchain. Many of them are manipulated by the makers

I hope I can help you. If you think it's good, welcome to adopt it!

3. On September 7, Beijing time, according to foreign media reports, a document published on the official website of the Uzbek government shows that President Shavkat mirziyoyev has ordered the establishment of a national blockchain development fund called "digital trust"
the fund aims to integrate blockchain technology into various government projects, including medical, ecational and cultural fields. The foundation will also be responsible for international investment in Uzbekistan's digital economy. In addition to international loans and grants, the national agency of project management of Uzbekistan will also fund the digital trust fund
recently, mirziyoev has approved relevant bills to apply blockchain to different public fields to support the development of Uzbekistan's blockchain and cryptocurrency instry
in July this year, mirziyoev signed a directive document on measures for the development of digital economy in the Republic of Uzbekistan, which stipulates the application of blockchain technology to some aspects of public administration
according to the order, Uzbekistan will launch a blockchain integration plan by 2020. At the same time, the country's Ministry of information technology and communication development must propose a blockchain integration plan for international settlement facilities as well as loan and trade financing
in addition, mirziyoev signed a law on the regulation of cryptocurrency transactions, which came into effect on September 2. According to the law, foreigners can only trade cryptocurrency in Uzbekistan by setting up branches in the country. The law also sets a minimum capital requirement of $710000 for a crypto exchange
in addition, crypto traders will not be subject to Uzbek stock market regulations and will be exempted from tax liability on trading income< However, cryptocurrency transactions must comply with anti-terrorism and anti money laundering laws. They must also keep cryptocurrency transaction records, customer personal data and communications information for five years
in February 2018, mirziyoev agreed to approve the establishment of a distributed ledger technology and blockchain technology center in mirzo ulugbek innovation center, which focuses on financial technology. At the same time, Mir has also ordered the active development and stimulation of mobile payments in the financial market, including the use of PayPal, Alipay, Visa and Mastercard.
it is worth mentioning that at that time, the staff of the Central Bank of Uzbekistan once expressed a negative attitude towards digital currency and said that they thought it was one of the means of financing terrorism. It was these remarks that prompted Uzbekistan to introce laws to regulate cryptocurrency transactions in September.

4. The eldest son of Ethereum, ethereal fog

5. Bitcoin ETN refers to the trading notes of bitcoin exchange, which allows users to participate in the whole investment process by tracking the price trend of the whole market. There is no need to consider the security of bitcoin, but it needs to rise and fall in the price for a period of time to honor the original capital commitment

at that time, I didn't know much about this information. Later, my friend went to the training course of Yingfu College of Finance and economics and listened to their lectures. They said that bitcoin ETF is more like a kind of ordinary investment, which is set up with a fixed price index, and is also set up in the trust mode. It is divided into three main bodies: sponsor, trustee and custodian. After signing the contract, they will perform their respective ties

now that the first batch of bitcoin ETFs are approved for issuance, it will greatly change the public's overall view on the regulatory risk of encryption assets, thus having a positive impact on bitcoin.

6. The success probability of bitcoin ETF listing is very small
the goal of bitcoin ETF is to provide a proct that is easier for investors to obtain, and it can also restrain the volatility of bitcoin to a certain extent. Although it still can not eliminate all the risks of bitcoin, this kind of ETF will still be more risky than most other ETFs. The SEC is wary of such risky assets
although there are many "supporters" of bitcoin ETF or bitcoin regulation, the prospect of its success is not optimistic, because the impact of China's bitcoin price can not be underestimated.

7. It seems that there is news in June. Please look forward to it.