Usman Salis
After the approval of "Hashdex Nasdaq Crypto Index" four days ago, the first-ever Bitcoin ETF is introduced on the Bermuda Stock Exchange (BSX) by Hashdex, the controlled Brazilian fund manager, and Nasdaq.
The press continues to talk about Bermuda as a multinational market and a financial hub that is crypto-friendly onshore. Class E shares are due to be released for trading in the quantity of 3 million and the fund will be exchanged live by the end of 2020.
Hashdex currently has four funds with $46.4 in managing assets and uses Xapo, Kingdom Trust and Vo1 with crypto-custody services. The auditor of the company is KPMG.
"When to expect Bitcoin ETF?"
Most Bitcoin backers have been asking the question for years now, "When to expect Bitcoin ETF? "While the Bermuda Stock Exchange is close to its official release date, the viewpoint of a controlled, insured and institutional BTC vehicle emerging on the US exchanges remains dim.
The US has all declined proposals from separate groups – such as the twins Winklevoss, VanEck, SolidX and Wilshire Pheonix. Or dragged by the claimants, the Stock and Exchange Commission. The regulator for securities has also suggested that it was not enough for applicants to show that the BTC sector is competitive immune.
How did the price react?
After a sharp decline yesterday, the Bitcoin price (BTCUSD) is raining up. This is around 0.32% and $10,509 is trading now. This is more than the low of $10,198 seen yesterday. Digital currencies are also growing, with price gains of over 0.20% for Ethereum and Ripple.
As part of the broader downturn in other assets, the price of Bitcoin declined considerably yesterday. The Dow Jones and the Nasdaq 100 lost almost 2% of the profit. Likewise, all the indexes fall in Europe and Asia. The same existed on the commodity market, where price tanks were made for gold, silver and crude oil.
Usman Salis
