Daily: Market Rebounds ? / Canada Issues Blockchain ETF

introvert-dime (67) 7 years ago

I hope we are not going into long term bearish trend.

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smallstepschange (53) 7 years ago

Accoring to this analysis, Bitcoin is doomed: bearish frightened cat pattern! JK This is satire.
https://steemit.com/bitcoin/@smallstepschange/reaking-btc-technical-analysts-warn-the-bearish-frightened-cat-pattern-is-forming-bitcoin-is-doomed

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hotsauceislethal (64) 7 years ago

I have a bad feeling we could see $6,000-7000 prices before things start to really recover. Who knows with so many things up in the air.

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blogforcrypto (25) 7 years ago

Seem like it rebounds. Most green today.

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zemiatin (57) 7 years ago

I really love how Canada really seems to embrace cryptocurencies. Good job.

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heroic15397 (62) 7 years ago

Seems like the CoinTelegraph article is confusing Blockchain ETF with Bitcoin ETF and Bitcoin futures markets.

From the article:

In contrast to the news coming from Canada, US regulators have stated that such funds are not ready for regulation under US law.

The source for this assertion is another one of their own articles:

Today, January 9, ProShares, Raffety Assets Management and VanEck all withdrew their Bitcoin-related ETF proposals from SEC consideration, at the regulator’s request. Rafferty Assets Management commented that the SEC “expressed concerns regarding the liquidity and valuation” of the underlying asset.”
None of the withdrawn proposals were actually Bitcoin ETFs, per se. An actual Bitcoin ETF is widely seen as the holy grail of mainstream financial acceptance, as it would require the purchase of actual Bitcoins in order to “back” investments in the ETF. All of the proposals withdrawn today were related to Bitcoin futures markets.

But according to Coindesk, and the Globe and Mail article where they picked up the info:

According to the Globe and Mail, two other Canadian companies, First Trust Portfolios Canada and Evolve Funds Group Inc., are also seeking to launch blockchain funds, and filed their first prospectuses with regulators this week.
First Trust is already a presence in the U.S. market, offering its blockchain ETF under the ticker LEGR. The introduction in Canada of its First Trust Indxx Innovative Transaction & Process ETF (ticker: BLCK), modeled after the Indxx Blockchain Index, is the product of client demand, the company said.

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healthiswealth (67) 7 years ago

Was that HBLK on the TSX ?
Is there a Full name for the ETF?

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It is set to launch on the Toronto Stock Exchange next week.

heroic15397 (62) 7 years ago

Seems like it is Blockchain Technologies ETF.

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healthiswealth (67) 7 years ago

Thanks,
First Trust Portfolios Canada "BLCK" ticker on TSX next week

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heroic15397 (62) 7 years ago

Harvest Portfolios' Blockchain Technologies ETF (ticker: HBLK) and First Trust Portfolios Canada's First Trust Indxx Innovative Transaction & Process ETF (ticker: BLCK) are two different things. The first is set to launch on TSX next week, the second they are seeking to launch and they have filed their first prospectus with regulators this week.

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healthiswealth (67) 7 years ago

i appreciate that information .

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hotsauceislethal (64) 7 years ago

Im still wary of thr market faking us out. This past month has exposed much of the fraud and manipulation. Just like when tide gets low you can see all of the bottom feeders. Im very worried about the Tether situation although it does not directly affect many cryptos it does affect the largest BTC exchange around.

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doctalk (55) 7 years ago

Crypto market is so jerky . Seems it cant settle , swing is the friend . Wild guess now . Of course few weeks down the road is very important

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eric-boucher (68) 7 years ago

Though the Canadian crypto-buyers aren't the biggest chunk of influencers, this move by the government is huge for the market and should definitely influence it in a rather positive manner. Thanks for sharing all this information with us all on Steemit.com

Namaste :)

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newageinv (70) 7 years ago

So the ETF does not own underlying Crypto assets; instead, it invests in companies using blockchain technology? Still good news as it helps increase mainstream adoption by supporting these companies venturing into the technology. Once the market stabilizes and regulation framework is clarified, ETFs for crypto assets will eventually be approve. It is in the best interest of regulators to let the free market determine its appetite and risk tolerances.

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bern77 (25) 7 years ago

This is huge news for canadians citizens. Open more doors to be accepted.

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blogforcrypto (25) 7 years ago

Great news and crypto market rebounds. It's a great day! Thank you for the information.

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