Last Week’s News (issue #4) In this week's issue: 1. Van…
Last Week’s News
(issue #4)
In this week's issue:
1. VanEck x SolidX announce an ETF-like product.
2. Paxos gets approval to offer two new stablecoins--one of them being Binance's.
3. Bakkt prepares for the launch of their BTC futures product
Replies
Original source: https://www.wsj.com/articles/van-eck-solidx-to-offer-limited-version-of-bitcoin-exchange-traded-fund-11567503003
On September 3rd, VanEck, in collaboration with SolidX, announced a Bitcoin ETF-like product that will only be available to institutional investors.
By only offering this ETF to institutional investors, VanEck & SolidX are able to offer this ETF-like product without registering it as a security and waiting for approval.
Original source: https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1909051
On Sep. 5th, the New York State Department of Financial Services authorized Paxos Trust LLC to offer a gold-backed cryptocurrency (PAX Gold) as well as the Binance USD (BUSD)--Binance’s stablecoin that will be backed 1:1 with the United States Dollar (USD)