"BITO" Bitcoin ETF set to Debut Tomorrow, Very Good Food Company Analysis, BAKTT Going Public, Square launching Bitcoin mining system and much more..
Good Morning FinTech, 18 October
Hello my inspired community :), this is our 5th newsletter and wohoo, our newsletter community has grown to 1600 subscribers. We have some bullish news surrounding crypto space and stocks and today, i will reveal one of the stocks that i am planning to invest.
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1-First bitcoin futures ETF to make its debut on the NYSE Tuesday, ProShares says
The bitcoin ETF has officially been approved to begin trading tomorrow after SEC’s approval. The ProShares bitcoin-linked exchange-traded fund will make its debut officially on the 19th as the First.
“2021 will be remembered for this milestone,” Michael Sapir, the C.E.O. of ProShares
A futures-based ETF won’t allow investors to buy bitcoin directly but is still a significant regulatory feat for the crypto industry.
Three other bitcoin futures ETFs are expecting to move forward with their launches this month.
2-Very Good Food Company Inc. (This company is disrupting the Plant-based food business at 2x each year)
Very Good Food is on a mission to get millions to rethink their food choices. And guess what? Their plan is WORKING! Their wide selection of plant-based food is so delicious and nutritious that even meat-eaters find it much easier to move away from animal products.
3-Bitcoin Company Bakkt To Go Public on New York Stock Exchange
Cryptocurrency platform Bakkt will begin trading as a public company on the New York Stock Exchange on Monday, according to its owner, the Intercontinental Exchange.
Digital asset marketplace Bakkt has completed a merger with VPC Impact Acquisition Holdings.
From Monday it will trade on the New York Stock Exchange under the ticker “BKKT.”
Last week, Bakkt partnered with Google Pay.
4-Steam Bans Crypto Games While Epic Games Welcomes Them
Online gaming store Steam announced it would ban applications “built on blockchain technology that issue or allow exchange of cryptocurrencies or NFTs."
Epic, which competes with Valve, Steam’s developer, then told that it would be “open to games that support cryptocurrency or blockchain-based assets."
He added that while “Epic's not using crypto in our games, we welcome innovation in the areas of technology and finance.”
5-Sotheby’s Auction House Launches NFT Marketplace
Sotheby’s, which is one of “the world’s largest, most trusted and dynamic marketplace for art and luxury”, has announced the launch of its own non-fungible token (NFT) marketplace called “Sotheby’s Metaverse”.
The platform will offer NFTs for fiat currency and cryptocurrency alike, and launch with a new Natively Digital sale.
It will support NFTs minted on Ethereum as well as blockchain networks that are compatible with the Ethereum Virtual Machine—potentially including layer-2 scaling solution Polygon, as well as Binance Smart Chain.
6-Payments Giant Square Considers Building Bitcoin Mining System, According to CEO Jack Dorsey
Square CEO Jack Dorsey said late on Friday the company might jump into the bitcoin mining business.
Dorsey tweeted that the company is considering a “bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.”
If Square does execute on this, Dorsey said the company would follow its hardware wallet model: “build in the open in collaboration with the community.”
7-Ethereum Exchange Reserves Are Draining, Here's What It Means for Market
Deflation and exchange outflows may be main fuel for Ethereum's price action
While sentiment around the cryptocurrency industry gets more positive each and every day, more Ethereum investors are choosing to withdraw their funds from crypto exchanges and leave them in their wallets, according to CryptoQuant.
While this is a positive sign for the market, institutional investors or whale-tier individuals may face some problems with liquidity with the current flow rate.
More positive News for the price...
In addition to a constant decrease in reserves, Ethereum's circulating supply is also decreasing due to the fee-burning mechanism
Disclaimer: This is not financial advice or recommendation for any investment. The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.